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Invest in New Technology with a Purpose

by Dealertrack
on May 30, 2018

Today’s consumers are always on the lookout for the latest and greatest. When something feels old or outdated, it’s quickly replaced with something else that’s new and exciting. This is especially true with technology. But, as dealerships search to find advantages in a competitive marketplace, it’s important to incorporate new technology with a purpose, and not just for the sake of getting something new.

Keep Strategy in Mind

Too many dealerships make strategic decisions based on the limits of their technology. This is a backward approach to business that allows technology to dictate everything from operations to hiring new employees. Every decision you make, including the decision to implement new technology, should be made with your business’ core strategy in mind. To define your strategy, ask how your dealership is different than your competitors. It might be based on size, amount of inventory, or quality of customer service. Whatever makes your dealership unique, find ways to leverage your advantages and use technology as a tool to accomplish your goals.

Ensure a Smooth Tech Transition

Even when a tech upgrade is obviously needed, dealerships should take steps to ensure a smooth transition. These steps include:

  • Getting leadership on board
  • Researching and choosing the right vendor
  • Building implementation partnerships
  • Managing continuous learning

There are emotions involved in change management. And, getting leadership on board and choosing the right vendor the first time will help you get buy-in from every employee. It’s important to share your vision of how new technology will benefit the business. Then, start researching vendors with your long-term goals in mind. Find a provider that’s willing to help you get the most out of your tech investment. Partnering with a team you can trust—one that’s committed to the ongoing support of its product—will help your dealership reach its goals.

Pull the Plug on Outdated Tech

If new technology will help your dealership get better at what it does best, it’s time to embrace change. Incorporating new technology with a purpose, and not just for the sake of getting something new, can help your dealership find a real, lasting solution that will propel your business forward.

If you’re ready to learn more about ensuring a smooth technology transition at your dealership, check out our guide, Pointers For A (Practically) Painless DMS Transition.

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