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How to Maintain Bottom Line in a Slowing Industry

by Dealertrack
on May 2, 2018

The ups and downs of the auto industry are a rollercoaster of emotions, business flow, and balance sheets. From year to year, and even month to month, your financials can fluctuate depending on a number of different factors. And, the hard times aren’t always easy to predict. Especially during downturns, it’s important to have the ability to preserve your profits and weather the storms of a slowing industry. Here are a few ways technology can boost your business, in good times and bad.

 

Empower Your Employees

 

Increasing sales and decreasing expenses is the goal of every auto dealer, but sometimes it’s easier said than done. When times are hard, it’s natural to look for quick and easy ways out of trouble. And, for many dealerships, that means staff cuts that end up being the wrong answer in the long-term, and difficult for everyone involved. Rather than give in to knee-jerk reactions, embrace the potential of your employees by empowering them with the latest and greatest technology. Give them a DMS that’s intuitive and easy to use, to the point that it stays out of their way and lets them do what they do best – sell cars.

 

Your DMS should be a key selling point in attracting, training, and retaining top talent. You shouldn’t have to base your hiring decision on whether or not someone can operate your DMS. Properly empowered with the right technology, your workers can help you avoid the lengthy dips in business performance by increasing efficiency and avoiding many of the problems that come with outdated technology.

 

Prioritize Performance Management

 

Does your DMS come equipped with a team of industry experts, ready and willing to help your business at your beck and call? Many dealerships resort to hiring expensive third-party productivity consultants that explore every nook and cranny of your operations, searching for ways to improve efficiency. But, the very best DMS providers already offer this. They balance cutting-edge technology with personalized attention to help you achieve your business goals and increase your bottom line. Take advantage of performance managers’ expertise to get the most out of your DMS, eliminate unnecessary practices, and give you a leg-up on your competition.

 

Do More with Your DMS

 

If your DMS is a relic of ancient history, and your bottom line is suffering as a result, it’s time to move into the modern age of dealer management. Your DMS should do more than track costs and inventory. It should be easy to use and come equipped with a team of experts to help you take your business to the next level. In addition, your DMS should help increase sales by:

 

  • Giving your employees the tools to seamlessly upsell additional items at checkout.
  • Leveraging your customer contacts to increase traffic to your service lanes.
  • Creating a highly-customized mailing and digital contact list to send out reminders and special offers.
  • Increasing focus on digital sales and streamlining the online to the in-store customer experience.

 

If you’re ready to learn more about ways to boost your bottom line during tough times, request a demo today

 

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