Tag Archives: Xchange Data Mining

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

Vehicle_Exchange_Program

How many vehicles do you sell out of your service lane every month? What if you could double that amount?

These days you need all the sales opportunities you can get. Next to digital leads and inbound calls, the service department provides the most sales opportunities. For every opportunity that comes in on the sales side, you may have three, five or even nine opportunities in the service department.

This is the low-hanging fruit. All it takes is the right in-store process, commitment and technology to create a vehicle exchange or trade-up program. With this type of program, we have seen dealers boost their overall new and used vehicle sales by 10 percent or greater within the first six months.

Here are the steps involved in creating a vehicle exchange program: Read More

Connecting_with_your_customer

Connecting with your customer has moved from persuading a customer to purchase a vehicle with persuasive pitches to a more genuine exchange built on creating a connection. By the time customers enter your showroom, they are well beyond seeing what the market has to offer. Instead, they are looking for reasons not to do business with you.

In this episode of AutoSuccess Magazine’s weekly podcast, Bill Wittenmyer outlines the positive qualities your interactions can lead to the sale, rather than the high-intensity sales pitch.

Additional lessons learned include:

Read More