Understanding the changing landscape of the automotive industry is a challenge. If you don’t pay attention to changing trends, you’re likely to get lost. With so many twists and turns in the road to success, it pays to watch out. The first, essential guidepost on your...
Read moreMany automotive dealers are aware that technology-driven investments are necessary in order to ensure the long-term success of their dealerships. Failure to keep up with technology could be the final nail in the coffin (so-to-speak), and no one wants to get left behind. However, without a profit-driven strategy, simply throwing money into technolog...
Read moreYour next car buying experience will be straight out of a science fiction movie: Artificial Intelligence, Machine Learning, Robots…(OK, maybe not Robots). According to a recent study by Cox Automotive, the era of Artificial Intelligence (AI) is here, or nearly here. More than half of consumers surveyed prefer a personalized buying experience. And...
Read moreA great story sticks with you for years. The same idea is at the core of building your brand’s story and empowering your brand advocates. Reaching your customers on an emotional level and engaging your current buyers (and employees) with content that resonates with your values and mission can build retention and improve profitability. It also has...
Read moreThe road to success is filled with twists and turns. With new technology and empowered car buyers, the auto industry is constantly changing. Knowing where exactly to invest your time and energy can be confusing. The auto industry changes fast, and it’s often difficult to keep up. Here are four key areas to fuel your focus as you close the year an...
Read moreMost businesses focus on bringing in new customers. Building marketing strategies, reaching new people, and getting your dealership’s online experience up-to-speed are very important, yet few dealers pay attention to their top-tier customers. And that may be a mistake. It turns out that a customer’s lifetime value could impact your gross profit...
Read moreThe issue of margin compression has shifted from “solution” to “management” recently, as dealers are now finding ways to live with the conundrum, rather than look for an outright fix. For most dealers, the most obvious solution can be found by optimizing the profitability of your service lane. Better customer service, return visits, and bui...
Read moreAuto dealers have heard it again and again: People are buying cars, yet margin compression continues to chip away at dealership profits. In some cases, dealers are selling automobiles at a loss! Could a growing focus on operation efficiency really be the path to profitability? Are there hidden centers of income within your business waiting to be op...
Read moreWelcome to the age of the “empowered customer.” Car buyers are doing their homework, and that includes research on financing and insurance, well before they visit your dealership. They need more than a good deal, and it’s up to your team to provide service, security, and incentives for returning again and again. While this may seem intimidati...
Read moreSelling cars to a younger generation like Gen Z and millennials, those born sometime between (roughly) the very early 1980’s and mid 1990’s, is becoming the proverbial white whale for modern auto dealers. You know they’re out there—somewhere—and you’ve been told they have money to spend. However, this elusive market continues to baffle...
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