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Growth_in_a_Soft_Market
Increase_Lease_Penetration_Rates

Editor’s Note: A special thanks to contributor, Billy Reynolds, Eastern Regional Vice President of Sales for ELEAD1ONE. As an expert in Leasing and Equity Mining strategies, Billy has helped sales teams increase profits utilizing automotive retail technology at the dealer level and as a vendor partner for almost two decades.

As profit margins continue to shrink on new vehicles, what’s your strategy to make up some of that lost profit? I’ve talked with dealers who are pushing more extras like extended warranties, buying more leads or hiring more staff. But we all know that in this type of market, trying to stay competitive can be a race to the bottom and additional expenses don’t always equal results.

I believe a better strategy is to focus on increasing your volume and decreasing your trade cycle through better maintenance of your lease portfolio. Inside every CRM there should be a recession-proof book of business that requires few budget dollars to reach. Read More

internal_vs_external_bdcs

Many people assume that because I work with a company that provides BDC services, that I’m against internal BDCs. That’s actually not true. In some instances, it makes sense for a dealership to have an internal BDC.

Every dealership is different with its own unique processes and needs, so the decision really has to be made on a case by case basis.

Many dealers believe their in-house sales team should be able to handle all inbound and outbound sales calls, but not all salespeople possess the necessary personality traits to be successful on the phone, or they simply don’t have time to execute phone campaigns effectively.

The fact is, it takes an average of four attempts to get hold of a customer, and that’s with dialer software that predicts the best time of day to call. Most salespeople give up after two attempts.

Regardless of the reason, when calls are being mishandled or not getting made, it’s time to consider outsourcing to a BDC. Consider the pros and cons of using internal and external BDCs to decide which is best for you. Read More

Start_Improving_Inbound_Phone_Performance

Despite the increase in digital mediums for advertisements, calls to auto dealerships’ service departments have remained steady – and serve as the second most common form of initial contact with dealers.

While most dealers focus on bigger ticket items like new and used car sales, the service department should not be put on the back burner. The service department isn’t only a way to get new customers to your dealership, but also great retention and referral opportunities.

Recent inbound automotive call data published from a sampling of over 106 million phone calls over four years shows that over half (54%) of all inbound calls to automotive dealerships are revenue-winning opportunities.

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End_of_month-crunch

Do you ever wonder why dealerships and consumers alike are all programmed to buy cars at the end of the month? Asking how this happened is like asking which came first, the chicken or the egg. For sales teams and managers, the end-of-the-month crunch is a grind.

When it’s over, it’s natural to relax a little before diving into the new month. For consumers, all the commercials and pressure to buy are pushed out towards the end of the month, so many of them are programmed to know they can get a better deal if they wait.

Then there are the manufacturers, who throw out additional incentives towards the end of the month to keep managers and salespeople motivated.

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Webinar Straight Talk On BDC Strategies

Is your sales staff making enough phone calls to keep your pipeline full of leads? Has your manufacturer ever mandated the use of a BDC service? Or do your service advisors spend too much time on the phones, and not enough face time with your customers? It’s time for some straight talk about BDC strategies you should be using to grow your business.

Business development centers (BDCs) are a proven method for increasing sales opportunities, service appointment volume and improving customer satisfaction, yet many dealerships have used both internal and outsourced BDCs with lackluster results.

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