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Drive to Success: The Right KPIs for Digital Retailing

by Lindsay Lauck
on February 25, 2019

General Managers and Dealer Principal Owners manage everything from inventory management, to hiring, to sales and advertising within the automotive sales business. With the emergence (and extreme importance) of Digital Retailing, dealerships are introducing technologies to fast-track their brands to consumers who are shopping and researching their next purchase online in new ways. What are the right Key Performance Indicators (KPIs) that prove these technologies and efforts are moving the needle in the right direction? Read below for advice for more:

1 – These 6 Customer Service Metrics Will Show You What You’re Doing Right–and Wrong

Inc.com: Dealerships have been measuring customer service inside the dealership for decades. But customers are interacting with your brand days and weeks (maybe months?) before you they ever make it to your doorstep—if they even do! Do you know the KPIs of a positive customer service experience that takes place throughout your digital retailing journey?

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2 – Five Steps to Build World Class KPIs

Forbes: The added bonus to measuring your digital marketing efforts (or any efforts) is that your organization will improve, right? That’s the “basic” idea, but you’ll need to follow a few key steps, like adding incentives and identifying issues. It’s not exactly rocket-science, but it’s worth stepping back and having a look.

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3 – Define The KPIs For Live Engagement in Your Automotive Business Plan

Business Computing World: Many dealerships experiment with ChatBots and Live Engagement programs as part of their digital marketing strategy. Does yours? Make sure you’re measuring the success of this program before you let automation run amok. Otherwise, the robots win.

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4 – Is Your Dealership’s Technology Stack Hurting Your Sales and Destroying Your Profits?

Digital Dealer: Tracking the metrics and KPIs of our technologies is a great way to measure success. But, you’ll likely end up measuring the success of the programs and machinery of the systems you’ve paid for, and miss the mark of the other important variables in your dealership: people and time management. Here’s how to make the best impact on your dealership’s goals.

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5 – Choosing Effective Digital Marketing KPIs

Smart Insights: Deciding what to measure, and when, is just as important as setting your sales goals for your dealership. If you get caught up counting “vanity metrics” because they’re easy to track or they feel important, you could be missing out on the big picture. Here’s what professionals do before

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Check back next week for more Drive to Success.

 

Tags: DMS, Drive to Success, KPIs

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