In every automotive dealership, the sales team follows a well-defined Road to the Sale—a process that takes customers through critical steps from the initial greeting to the final handshake. Yet, when it comes to the Finance & Insurance (F&I) department, that same clarity of process can ...

Why today’s automotive finance managers must adapt to meet the evolving demands of the modern car buyer.

Now more than ever, retention and loyalty are essential in the automotive industry. The digital transformation has brought a wave of competition to auto dealerships. It’s now easy for consumers to buy a vehicle from far away, even across the country, and have it shipped directly to their home. In ...

Adapting to Market Changes: New Strategies for Automotive Dealerships The automotive retail landscape has undergone significant transformations in recent years, particularly evident in the shift from new to used vehicle sales. In 2021, franchised car dealerships saw an increase in used vehicle ...

Stay Consistent. Back to the Basics. Keep Your Foot on the Pedal. These are all common phrases spoken to sales professionals, but how often are these mindsets applied to sales management? A strong, consistently followed process can transform a mediocre sales manager into a good one and a good sales ...

Across the United States, many dealerships face significant challenges in the compliance aspect of the automotive industry, particularly concerning employee training and process implementation. The following points highlight key issues:

In the ever-changing landscape of the automotive industry, dealership owners/dealer principals face an array of uncertainties. From fluctuating interest rates to fluctuating inventory levels, the focus must remain on selling cars, providing top-notch service, and maintaining the dealership's ...

Dealerships face a myriad of challenges when it comes to hiring and recruiting the right talent. These challenges not only impact the overall efficiency and productivity of the dealership but also affect customer satisfaction and business growth. Let’s explore the key issues faced by dealerships in ...

In 1986, the automotive world looked very different. The Federal funds rate was 13%, Reagan was in the White House, and McMahon led the Chicago Bears to a Super Bowl Championship. It was also the year I began my journey in the automotive industry, coaching F&I personnel. Back then, F&I ...

In the competitive landscape of automotive sales, retaining customers is just as critical, if not more so, than acquiring new ones. With fierce competition, customer retention and loyalty are paramount to a dealership's success. The cost of acquiring new customers far exceeds costs associated with ...

Navigating the New Landscape The automotive industry has experienced an accelerated, unprecedented transformation over the past few years. From the onset of the COVID-19 pandemic to the present day, market events have reshaped customer expectations and forced dealerships to adapt swiftly. ...

Building a Stronger Dealership Team Across All Levels Investing in the growth of your team is not just a best practice; it is a strategic cornerstone that can significantly impact your dealership's financial success and culture. Nonetheless, many Dealer Principals and Managers may overlook the ...

Inflation is a critical factor for automotive dealers who are invested in reinsurance programs, especially given the volatility of today’s financial markets. Combined with the instability of the equity market, this inflationary environment exposes significant risks to investment income within ...

In today's competitive automotive market, dealerships must continuously innovate to increase revenue in their service departments. By focusing on customer satisfaction, service efficiency, and revenue optimization, dealerships can create a robust service center that keeps customers coming back. ...

"That's the way we've always done it." These seven words are notorious for being the most financially damaging in our industry, yet somehow, we hear them consistently during our dealership visits. The automotive business is slow to change as it is, but when you try to introduce wages into the ...

A Conversation About Embracing AI, Evolving Mindsets, and Our Future We’ve been selling cars and managing staff in tried-and-true ways for decades. But with today’s rapid shifts, are those methods still enough? Or is it time to question how we approach both our workforce and our business model?

In our dynamic and competitive marketplace of the automotive dealership business, success hinges not only on choosing the right dealership but also on the strategic relationships you build and maintain. As an owner, dealer principal, or general manager, your role extends far beyond overseeing ...

Monitoring and evaluating the performance of your Finance & Insurance (F&I) department has never been more critical than today. With the increasing number of products available and rising interest rates, the traditional metrics are no longer sufficient to gauge success. To ensure your ...

In the competitive landscape of the automotive industry, standing out from the crowd is paramount for success. Automotive dealers face the unique challenge of differentiating their businesses while navigating the complexities imposed by OEMs, who are aiming for uniformity across their stores. This ...

The Future of Auto Retail: Adapting to Survive and Thrive As a nearly 40-year veteran of auto retailing and agency management, I often ponder the future of our business. My first thought is: will it even exist 10, 15, or 20 years from now? Will our franchise system of selling remain intact, or will ...

In the ever-evolving landscape of automotive sales, dealerships are increasingly turning to Business Development Centers (BDCs) to handle both the complexities of modern communication and improved customer management. The digital revolution has significantly impacted our automotive industry. With ...

In the dynamic and rapidly evolving auto industry, the importance of finding and retaining top talent has never been more pronounced. Some dealerships have risen to this challenge, while others struggle, particularly in an era where margins are thinning rapidly. The recent COVID-19 pandemic further ...

The automotive industry, long dominated by men, is undergoing a significant transformation. As diversity and inclusion become central to business strategies, the landscape is shifting to harness the strengths of female and diverse professionals. This evolution isn't just a matter of social ...

Auto dealers across the nation are grappling with a significant challenge—shrinking used car inventories. Several factors have led to this situation, including the COVID-19 pandemic's impact on the auto market, where fewer leases were signed over the last several years. Many people are also holding ...

When you’ve spent as many years as I have in the automotive industry trenches, you learn one simple truth: success in this business isn’t just about having the right inventory on the lot—it’s also about having the right processes, people, and partnerships in place. One crucial aspect of this is ...

Integrating Non-Traditional F&I Products: A Strategic Advantage In the competitive and ever-evolving landscape of the automotive industry, dealerships must constantly seek innovative ways to enhance profitability while simultaneously improving customer satisfaction. Traditionally, F&I ...

Navigating the complexities of reinsurance and wealth management can be overwhelming, especially when your primary focus as a dealer is ensuring that your F&I products align seamlessly with your financial objectives. The decisions you make regarding these products directly influence the ...

Bringing the limited warranty business in-house offers dealers numerous advantages, ranging from financial benefits to enhanced customer satisfaction. By implementing and managing your own limited warranty and having an administrator adjudicate claims, you gain complete control over the process. ...

Lou Holtz, the Hall of Fame college football coach, once said, “Your talent determines what you can do. Your motivation determines how much you are willing to do. Your attitude determines how well you do it.” As we approach 2025-2026, having a clear vision for your F&I department's goals is ...

In the midst of fierce competition, utilizing every available tool to enhance the value perception of a vehicle can significantly impact auto sales success and customer satisfaction. One overlooked and underutilized asset in this endeavor is the Monroney label—the detailed sticker on new vehicles ...

Training Your Salespeople on F&I Products In today's competitive automotive industry, dealership success hinges on more than just selling cars. It's about delivering a comprehensive, welcoming experience that encompasses every aspect of the customer's journey, including F&I products. ...

Walk through any car dealership showroom in the United States, and you’ll undoubtedly hear a few common words: price, payment, lease, cash, finance, test drive, and warranty. You’ll also hear the inevitable "I have to think about it," and, if you’re bold enough to follow the employees afterward, ...

Navigating Unpredictable Storms Over the past few years, American businesses of all shapes and sizes found themselves at the helm of an unfamiliar ship, steering through a sea filled with daunting challenges. Our automotive industry, a cornerstone of the U.S. economy, was certainly not immune to ...

Turn shoppers into buyers Having a social media strategy and active social platforms is a proven, essential way to reach your customers while gaining valuable insights and growing your brand through engagement. It can also serve to increase the trust factor for your business. It will create brand ...

There are certain pillars for success that are consistent and don’t change in creating and maintaining a successful business.

In the current era of the automotive business, we have more transparency within transactions from most dealers than ever before in the history of selling cars. Additionally, there is more government oversight and regulations aimed at consumer protection, both from the federal level and the ...

Do you have ambitious goals with limited time for adjustments? Let’s discuss some quick, straightforward modifications that can have a big impact on moving you closer to achieving your sales objectives. These tips can be applied to all types of teams, from dealership sales teams targeting consumers ...

In today's rapidly shifting automotive landscape, dealer principals across the board are scratching their heads and posing the same question: What trends are emerging in the marketplace? As a dealer’s trusted income development partner, it falls on us to offer them not just profitable avenues but ...

Architecting Motiving Pay Plans In the Financial Services office, compensation structures, pay plans, matter. The prosperity and success of any finance and insurance department invariably hinges on five key factors:

Dealer Reinsurance Insights Dealer reinsurance provides a distinct pathway for dealers to participate in the underwriting profits and investment returns of the F&I products sold in their stores. Reinsurance companies operate autonomously from the dealership, each having its unique set of goals ...

Time to Step Up Sales in the Automotive F&I Industry: Focus on VSCs, Tire and Wheel, and GAP

In 1988, the renowned mega automobile dealer, Carl Sewell, penned an influential book titled ‘Customers for Life’. Within its pages, he emphasized 10 vital commandments for cultivating lifelong customers. Of these tenets, Sewell’s third commandment shone brightly, emphasizing, “under-promise, and ...

Our industry has undergone more of a transformation over the past few years that it had in the past few decades. This is thanks in great part to the recent Covid-19 pandemic, a historic world-changing event from which we are now just months removed. As the globe struggled to navigate this ...

The art of automotive reputation management is the ability to make sure that your dealership looks great for potential customers. It keeps you relevant, front, and center through online reviews. It entails monitoring, managing, and improving metrics and the public perception of your store.

In a competitive marketplace where customer satisfaction is crucial, auto dealerships must evolve to stay ahead. A key strategy to solve this leadership challenge is unifying your Sales, Finance and Insurance (F&I), and Service Departments. This not only increases overall efficiency but also ...

Building a Resilient Sales Team Over several decades, we have committed ourselves to working in concert with our dealer partners to cultivate their teams – a task that is both challenging and rewarding. Our overarching goal lies in seeking out that ideal mix of individuals capable of not only ...

The timeless art of the customer interview is fading away, as many automotive professionals have veered away from the foundational elements of the finance process in a dealership. The very first step that's being neglected is the all-important customer interview.

In 1985, as a recent graduate fresh from a small midwestern liberal arts college with a major in biology, it became urgent that I find a good job that paid well. Biology didn’t quite pan out. I landed a sales position at a Porsche Audi Volkswagen dealership in Las Vegas, Nevada. On day one, my ...

Bridging the Gap between F&I and Service In the ever-evolving ecosystem of the automotive dealership world, a common thread stitches together the career journeys of many. Most F&I training sessions I've attended or led always have attendees detailing their career road map from a sales role ...

The Importance of a Solid Foundation Just as you wouldn't dream of constructing your dream house without a firm foundation, establishing a consistent F&I process forms the bedrock for building your successful F&I house. This process begins with meticulous, proper preparation and the ...

Consumer enthusiasm for electric vehicles (EVs) is high, but actual adoption rates are telling a different story. Dealers are finding themselves at a crossroads, grappling with various challenges that impede the full-scale adoption of selling electric vehicles. As the auto industry stands on the ...

Leasing is WAY down

Ask Yourself These Four Crucial Questions: Do I Take Ownership of My Department? As a finance manager, are you actively training your salespeople on F&I products? Are they familiar with the benefits these products provide to customers? Are they consistently endorsing service contracts, ...

The automotive industry, just like any other, has had its share of ups and downs. Yet, even amid market and industry fluctuations, I would estimate a large percentage of dealers are currently participating in the underwriting profits of reinsurance. This overwhelming participation in reinsurance is ...

Back to Basics: The Imperative of Training in Automotive Dealership Sales In an ever-evolving landscape, automotive dealership sales and F&I sales teams must continuously adapt quickly to thrive. However, one enduring truth remains: our success is rooted in mastering the basics. The retail ...

It’s Time for 21st Century Customer Success As a result of digital engagement opportunities, there have been significant changes that have rapidly evolved the automotive customer experience. Consumers simply won’t settle for good enough. A large majority do their own research and due diligence, ...

Even with a lack of inventory, profits are up with less cars being sold, and the market remains high. However, with less automotive purchases, it will translate to less service business over time. Additional challenges for dealers include customer retention. People are straying away from preferred ...

There are vendors who have limited experience and literally work out of their cars, who misrepresent themselves to dealers as viable business partners. These vendors will arrive at your store to launch a product and disappear for months, provide little to no value, and no customer service. Vendors ...

If you want to sell more vehicles, and more F&I products, take control of your department!

There is a definitive coming of age happening across the Recreational Vehicle (“RV”) industry. The RV market in 2023 is strong with continuous overall shipment and sales growth. RVing is hugely popular among US consumers, with over 11% of US households owning an RV. It’s also becoming increasingly ...

In the age of iPhones, apps, bots, and Amazon, we have all become conditioned to expect instant gratification. When something requires a hefty initial investment of time, we look for alternatives that won’t need the heavy lift. With a myriad of busy schedules and days that just don’t have enough ...

Active listening and hearing someone talk are two very different things. There are two types of listeners, a listener that intends to speak, or the active listener who intends to understand. In professional settings, and most definitely in dealerships, active listening is required. The automotive ...

Attracting new customers to meet sales expectations takes a significant investment of time, effort, and money. Dealers understand that the longer you retain a customer, the greater the value that they will bring into your dealership. Whether it’s vehicles, tires, service drive, or products, dealers ...

Wealth management Reinsurance and wealth management are complicated subject matter. As a dealer, your concerns are focused on whether your F&I products are aligned and tailored to your reinsurance goals. All decisions you make on F&I products impact the health and vitality of your ...

One of the most frequently asked questions is how do we increase F&I sales, while providing customers with top quality products they need? The value of traditional F&I products is indisputable, and those products are part of the sales process for many dealers. There are, however, other ...

Absolute Dealer Support When we consider how to have unequivocal success with F&I, it all starts with absolute dealer support. In other words, the dealer must want the income that a strong F&I department can generate. It’s incumbent on dealers, as business owners, to create a climate where ...

Dealer Recruitment Strategy for the Long Term Hiring employees today is distinctly different than in previous years. Unemployment is at remarkable low levels. It’s oftentimes difficult to find qualified new employees. There are new expectations from prospective applicants as to flexibility, ...

In the realm of sales, there’s a compelling adage: “People love to buy but hate to be sold.” This insight holds true across many business sectors, including automotive. Despite this understanding, why hasn't the automotive sector fully embraced this principle? The best way to sell more cars and ...

Dealers are completely aware of the benefits that electric vehicles (“EV”) have that our standard internal combustion engines (“ICE”) do not offer. EVs are moving forward at a rapid pace and so are questions around purchasing, ownership, products and more. It’s time to take make these concerns ...

Improving employee engagement has a direct impact on employee performance. There is a clear, direct link between engagement and contribution that has a real effect on a business’ bottom line. To deliver outstanding business results we need engaged employees now more than ever. Engaged employees are ...

Every dealership needs to see an increase in profits at the close of every financial year. For that reason, most business owners spend a large portion of their budget on promotions and campaigns to attract more first-time customers, as part of the strategy to sell more cars and increase revenue. ...

Why Compliance Matters Now More Than Ever In today’s regulatory landscape, the Federal Trade Commission (FTC) is intensifying its scrutiny on automotive dealerships. Recent lawsuits have spotlighted alarming practices, such as price-gouging, discrimination, and the sale of protection products ...

It’s common knowledge that on the front end, it’s very difficult for automotive dealers to make a real profit on selling vehicles. Profitability from selling vehicles continues to trend downward. Vehicle Reinsurance can help dealers make significant profits.

The value of preloaded products has never been more important. GPS offers a massive profit-center and drives great benefit for dealer through a tangible value add.

Dealers are increasing F&I revenue and penetration with post sale service contract sales. They are using intelligent, data driven marketing. Even if your customer didn’t purchase a service contract at point-of-sale, you can still capture that business and extend your profits.

Why Enforcement Matters Many dealerships across the country confidently assert they have a sales process. However, a more critical question is, "Do all of your team members follow the sales process?" The answer to this is often a resounding no.

Profit Participation Programs have advantages for the dealer, their families, and dealership employees. There are several types of participation programs available, and it’s a matter of understanding these options and making a choice as to what works best for you.

Dealers are currently navigating through a state of high demand for used vehicles and what it means to the franchise owners. This recent inventory shortage is driven by a number of factors including the chips that have been delayed, other parts and materials that aren’t being produced or delivered, ...

These are fast, changing times for dealerships. Profit margins in recent years have evolved from a model that generates a profit from selling cars to profitability from financing, incentives, F&I sales, and customer retention through the service drive. An industry that once roared with only ...

The Occupational Safety and Health Administration (OSHA) is a federal agency responsible for setting and enforcing workplace safety standards. These regulations apply directly to car dealerships and automotive repair shops and are necessary for preventing accidents and injuries. OSHA compliance, ...

In today's competitive market, embracing innovative recruitment strategies can greatly enhance a dealership's ability to attract top talent and maximize return on investment in their hiring processes. Below are four cutting-edge strategies for auto dealers to consider to improve their recruitment ...

In any customer-facing industry, interactions with upset or angry customers are inevitable. This holds true for dealerships as well. Both employees and managers must develop the skills necessary to manage these challenging situations effectively. Successfully addressing an angry customer's concerns ...

As a sales manager or director, motivating your sales employees is imperative for sustained success in an increasingly competitive automotive dealership marketplace. Recent studies estimate that engaged and motivated employees translate to 21% more profitability for the company and a 59% reduction ...

Finance & Insurance (F&I) training sessions are essential for any dealership aiming to excel in both customer satisfaction, profitability, and employee retention. These specialized programs are designed to equip your sales team with the expertise needed to manage the complex aspects of ...

Whether your dealership is thriving or facing challenges in closing more deals, it's always beneficial to review and enhance your Finance & Insurance (F&I) Department processes. The following recommendations can help your dealership refine and streamline the buying experience for each ...

Maintaining an engaging social media presence for your automotive dealership is crucial for attracting and retaining both loyal and potential customers. Consistently fresh content keeps your audience interested and informed. Here are some dynamic content ideas to revitalize your dealership's social ...

In every industry, the bedrock of a prosperous enterprise is its leadership. Exceptional business managers don't just steer organizations towards their goals; they propel them to surpass expectations, creating a legacy of success. Within the dynamic world of automotive sales, dealership business ...

There are palpable changes taking place in the world of car purchasing. In 2024, auto dealerships find themselves at the intersection of digital transformations, sustainability initiatives, and evolving customer expectations. Owners and managers will need to adapt to these automotive trends to ...

Spring is a promising time of year for any car dealership because with warm weather comes the desire for getting out and about. People start thinking about the trips they want to take, the activities they want to pursue, and the vehicle they'll need to get there. While the exact timing depends on ...

The F&I department can be the lifeblood of any dealership. This department’s responsibilities often include discussing dealer financing options, managing the associated paperwork/agreements, or offering optional add-on products like extended warranties to ensure a comprehensive buying ...

Have you ever found yourself captivated by a salesperson whose confidence seemed to effortlessly guide your decision-making, gently nudging you towards a purchase? It's a scenario we've all encountered, where charm converges with conviction, leaving an enduring impression. So, what is the secret ...

Automotive dealerships operate within a tightly regulated landscape, where adherence to federal and state laws is not just advisable but imperative. The consequences of falling short with compliance are far-reaching, potentially resulting in a cascade of penalties ranging from mere warnings to the ...

All dealerships, big or small, must first understand their buyer’s needs in order to thrive. While good customer service practices are necessary, dealerships that succeed cater their offerings to the specific market they serve. Conducting market research and implementing strategic approaches are ...

Advertising is crucial for dealerships to increase brand visibility, foot traffic, leads, and sales. Yet with so many promotion channels out there, it can be challenging to decide which ones yield the best results for an automotive dealership. Let's look at the process of determining the best ...

Third-party vendors can significantly enhance support and contribute to the growth and efficiency of dealerships by streamlining processes. Establishing robust partnerships with these vendors offers benefits such as scalability, reduced operational costs, accelerated delivery speeds, access to ...

In today's digital age, car buyers often begin their journey online, researching vehicles, comparing prices, and exploring features. However, the ultimate goal for dealerships is to convert these online browsers into showroom visitors and, ultimately, buyers. By implementing effective strategies ...

In the fast-paced world of automotive sales, maintaining a strong compliance process isn't just about following rules but building trust and credibility. Here's why dealerships should promote their robust compliance procedures:

In the fast-paced world of auto sales, providing exceptional customer service is crucial for building loyalty and driving repeat business. One of the most important elements of great customer service is prompt response time. When customers reach out with inquiries or requests, they expect timely ...

When your Finance & Insurance Specialist takes a vacation or misses a day, a dealership can be looking at a huge hole in operations. F&I Specialists are the linchpin in your financing and credit review. They stabilize transactions and ensure both dealership and customer walk away happy.

Most auto dealers underestimate the long-term impact that branding can have on their business success. Well-defined brand messaging has the power to elevate a dealership and turn curious, casual shoppers into loyal customers. When done correctly, it builds brand recognition and can significantly ...

Selling a vehicle to a customer is typically a profitable experience, but turning that same person into a lifetime customer is priceless. A loyal customer offers repeat business, word-of-mouth support, and valuable feedback. Customers have a lot of choices when it comes to car buying, but there are ...

F&I managers play a vital role in the day to day running of many dealerships. Whether they are leading salespeople or negotiating with lenders, F&I Managers can impact the bottom line significantly.

Since it’s advent, social media marketing has effectively changed the landscape of marketing and advertising across the automotive industry. There are many advantages for automotive dealers in utilizing social media to promote sales, including:

While running a dealership is a lucrative venture, it's not without its challenges. Whether it's supply chain delays or evolving customer needs, how you address these challenges is vital for the success of your company.

Along with rising prices and increasing competition, dealerships find they are also constantly changing and innovating. This means the strategies that work today may be less significant tomorrow. Therefore, to remain competitive, enhancing customer satisfaction is essential.

In a digital-first world, automotive dealerships need a strong online presence. They need to leverage social media to engage customers and increase sales. However, growing that online identity takes resources.

Technological change continues to drive exciting innovations in the auto industry. Here are three trends that we expect to gain steam in 2024.

In the dynamic and fast-paced environment of a dealership, effective internal communication serves as the backbone of a well-functioning and customer-centric organization. Communication affects various aspects of dealership operations, ultimately influencing the customer experience. This article ...

Car dealerships thrive from walk-in buyers who have done their research and are ready to close on a deal. In the winter, however, your customers are less eager to brave the cold weather to visit in person. Winter notoriously lowers foot traffic in all but the most concentrated shopping locations, ...

In today's internet-savvy population, most people educate themselves on what automobile they hope to drive off your lot. When you encounter well-educated customers, you don't want to lose their interest. You want to seal the deal. How can your dealership set up an express checkout experience for ...

In the dynamic realm of automotive sales, competition is fierce, and customer expectations are ever-evolving. Therefore, if you want to stay ahead of rivals and satisfy clients, getting your dealership's Finance and Insurance (F&I) side right is non-negotiable.

If you own a dealership, you know your success is only as prosperous as your team allows it to be. A quality salesforce and infrastructure is critical to building your profit, and to get the salesforce you desire, you need to know how to attract the right people. Here are some steps you can take to ...

Having an online presence today is vital for all businesses, including auto dealerships, to remain relevant in a competitive marketplace. However, simply having a website or social media channel is not enough—it needs to be optimized to reach the right target audience. In comes SEO or search engine ...

Presentation is key when it comes to maintaining a dealership your customers trust. Choosing and buying a vehicle can be a long and complicated process, and buyers want to know that your dealership prioritizes their overall experience working with your team. The appearance of your dealership can ...

Hiring the right people is one of the most important investments a dealership can make. Your employees are the face and backbone of your dealership. Having the right people in place with the necessary skills and attitudes can transform your workforce and elevate your dealership's success. ...

If you own or run a car dealership, there's no better way to attract buyers than by differentiating yourself from the competition. Buyers prefer stand-out dealerships, which begs the question, how do you create a perceived and actual advantage in your potential clients' eyes and minds? Here's how ...

Selling multiple products as a bundle can be a helpful way to accelerate sales while helping your customers get everything they need from one place. Here are three reasons bundling products can benefit your customers and your dealership!

Understanding how customers think when deciding which vehicle to purchase should be a top priority for any car dealership. Customers are influenced by many different factors when they look for a vehicle and we seek to explore those elements. Warranty, cost of ownership, research, "bells and ...

As a car dealership, compliance with various regulations is a critical aspect of running a successful and reputable business. However, compliance can be a complex and time-consuming process, especially when it comes to data privacy and security, employee turnover, changing regulations, and ...

A dealership's success relies not only on selling vehicles, but also on managing the complexities of finance and insurance (F&I). This is where fill-in F&I specialists fit into the equation. They become strategic partners with dealerships to provide the necessary tools and expertise to ...

The U.S. automotive dealership market is expected to clock USD 257.3 billion, registering a CAGR of above 4% over the next five years (2023-2028). So, it's easy to see why many dealerships scramble to get the most out of their sales campaigns.

Let's say a potential customer is deciding between two local dealerships. They turn to online reviews to help make their decision. How you respond to these reviews could be the deciding factor for making a sale. In the age of Yelp-y customers, online reviews can be the make-it-or-break-it factor ...

Staying competitive in the automotive market is a necessity, not an option. To excel in their roles, dealership staff must be well-informed about the latest trends, technologies, and customer preferences. Several ways to ensure this include subscribing to trade publications, providing digital ...

When it comes to the automotive dealership world, the Finance and Insurance (F&I) department plays a pivotal role in driving revenue and customer satisfaction. However, this dynamic field demands well-prepared employees who can navigate its complexities with finesse.

A warm smile, a friendly handshake, and a listening ear can make all the difference to customers coming to your dealership. Together, they can be the deciding factor in whether or not your vehicles make it off the lot.

The automotive industry is currently experiencing a transformation with the rise of autonomous vehicles (AVs). In recent years, AV technology and adoption have made significant progress. AVs have the potential to alter the transportation industry as we currently know it by offering safe, ...

An automotive tradeshow presents a great opportunity for companies to showcase their products, services, and brand. However, it is also a considerable financial investment that comes with a lot of competition from fellow exhibitors among other challenges. You only have one chance to make a great ...

Car dealerships are struggling to meet the expectations of modern car buyers due to market conditions. The younger generation of buyers expects a seamless and enjoyable buying experience, and negative feedback can quickly spread to deter potential customers. This can lead to a decrease in sales and ...

Maintaining an active social media presence can help a dealership showcase its selling points, highlight its brand identity, and build a loyal online community. As your sales team witnesses positive interactions with satisfied customers and understands the direct correlation between customer ...

Dealer equity programs are structured initiatives implemented by a company that allow dealers (distributors) to acquire ownership shares in the company. Equity is offered as a reward or incentive for their consistent performance, loyalty, and contribution toward the business's growth and success. ...

The service department of your dealership is of great importance when it comes to customer satisfaction and operational efficiency. As technology rapidly advances, service departments can make use of a range of innovations to enhance their operations and provide an exceptional customer experience. ...

Establishing effective financial strategies to maximize returns in the automotive industry can be challenging, especially for small to medium-sized car dealerships. With fluctuating market conditions and evolving customer demands, it becomes vital for dealership owners and managers to adopt proven ...

Being a car salesperson is a challenging job. While some folks are intuitively wired to sell new or used vehicles to virtually anyone, others have to work on it. If you're in the latter group, read on; being a great car salesperson can be taught!

The service department of your dealership is of great importance when it comes to customer satisfaction and operational efficiency. As technology rapidly advances, service departments can make use of a range of innovations to enhance their operations and provide an exceptional customer experience. ...

As a car dealer, you probably know that the F&I (Finance and Insurance) process is a crucial part of any car dealership. The process involves customers finalizing their purchase and adhering to financing terms and insurance agreement options. But anything can go wrong in any business deal, so ...

Unlike groceries, cars are not a weekly necessity. Therefore, dealerships need to enhance their customer service practices. It is the only way to have loyal customers that keep coming back to you for repairs, servicing, and future car purchases. In most cases, these customers will also recommend ...

Adaptability is key in today's technological business landscape. The goal of any organization, large or small, is sustained profitability, and adapting to industry-specific best practices is undoubtedly requisite. Optimizing your sales is a vital facet of profitability. To help your business thrive ...

With the ever-evolving auto dealership landscape, maximizing revenue is paramount for owners, vice presidents, general managers, and sales representatives. To succeed in this fiercely competitive industry, you need to implement effective strategies that yield tangible results. Read on for several ...

As digital technologies become more widespread in today's car buying experiences, the days of flashy brick-and-motor showrooms are soon becoming a thing of the past. Online ordering tools are now debuting into the automotive industry space to help streamline the customer experience (CX) process and ...

The Finance & Insurance (F&I) process is a critical part of the car-buying experience, and it can make or break a deal. If the process is too long or complicated, buyers may walk away. But if it's smooth and efficient, it can help to close the deal and increase profits.

The Age of Information Customer data protection is critical in today's society. Businesses gather sensitive information from their consumers, and it is their job to keep this information secure and away from prying eyes. A safeguard audit is an important instrument for accomplishing this. It not ...

Joseph Samuel Girard has the distinction of being known as the "Greatest Salesman Ever". He holds the record according to the Guinness Book of World Records because he sold 13,001 cars at a Chevrolet dealership between 1963 and 1978. While we can't all be the next Girard, we can all strive to get ...

Observing the habits of a successful salesman is a great way to learn about how they react to the daily experiences they go through. If you are going to learn how these individuals do what they do, then you should observe the most successful ones to have ever practiced the craft of being a ...

Customer service is one of the most important aspects of any business, but it is especially critical in the car dealership industry. When customers are looking to buy a new car, they want to feel confident that they are making the right decision and that they will be taken care of if anything goes ...

Solid sales performances are valuable yet difficult for many dealerships to achieve. The key lies in consistency and cultivating a culture that appreciates and supports professional development. This way, teams consistently hone their product knowledge, sales territory planning, competitor ...

As the supply chain finally begins to flow, the rising interest rates continue to warrant increased pricing, taking its toll on auto dealerships. The good news is there seems to be a green light at the end of 2023. Now, more than ever, it's crucial to implement strategies for boosting your ...

From inventory management to marketing, the day-to-day operations are what helps build a successful dealership that is a leader in the industry. Effective communication, efficient processes, and well-managed operations are a few of the many parts that make a dealership successful. From the moment a ...

The sales and marketing realms are getting more competitive. Employees are anxious to perform their tasks and meet targets. Dealerships depend on qualified and skilled sales teams to maximize profits.

In today's world, data is one of the most valuable assets any company can have. Companies are responsible for protecting confidential information, from personal to sensitive business data. However, as data breaches continue becoming more frequent and sophisticated, keeping data secure has become ...

It’s no secret that customer retention is crucial for car dealerships to remain profitable, build their brand, and provide excellent customer service. In this blog, we will dive into more detail about why you should focus on keeping your current customers coming back to your dealership again and ...

In today's competitive business landscape, providing exceptional customer service is critical to the success and longevity of any organization. Customers have more options than ever before, and they are not afraid to switch to a competitor if they are not satisfied with the service they receive. In ...

Automakers build their business on exceptional customer service and state-of-the-art products. However, dealerships also need to reflect the same high-quality service to guarantee repeat sales. After all, dealerships are an integral part of the customer experience journey.

As a business manager, you must thoroughly understand the sales process, customer interactions, and team performance. Observing actual transactions is one effective way to gain this understanding. Observing deals can provide valuable insights into your sales process's strengths and weaknesses, ...

Are you ready to take the stress out of compliance regulations for your dealership? As a dealership owner or manager, you know how important it is to follow all the legal requirements and keep your business compliant. But, let's face it, navigating the laws and regulations can be overwhelming and ...

We're continuing our strategies for building customer retention and loyalty. Use these strategies in your efforts to build your customer base.

Customer retention is key to the success of any dealership. Keeping customers returning to your store is key to creating a successful business. With that in mind, here are some strategies you can use to build customer loyalty at your dealership.

As a finance and insurance (F&I) manager, you must establish a solid track record of performance in your field. Being an F&I manager requires you to adhere to complex regulations, where it is integral to avoid any compliance setback.

How does your team stay motivated? Is it challenging to get your sales teams going and focus on the next goal? Do you need some new ideas that will motivate your sales force? We have great information on how to keep your employees happy and moving forward. Check out our post on how to create ...

You might be surprised to learn just how much technology is in your car. From voice-activated commands to built-in navigation, today's cars are packed with features that make life easier. In this article, we'll explore five shocking facts about technology in your car.

It's no secret that the current state of the automotive industry is in flux. Manufacturers are looking for ways to cut costs and increase profits, and one of the methods they're exploring is going direct to consumers. While this model has been around for a while, it's never been more viable than it ...

The massive disruptions associated with COVID-19 made many industries, especially automotive dealerships, wonder if supply chains, consumer demand, and essentially everything else associated with running a business would ever get back to normal. For dealerships, in particular, the attractive ...

Auto dealer reinsurance is a burgeoning business idea that's gaining momentum among automobile dealer principals, and general managers. Reinsurance is a customized insurance product designed to enable auto dealers to provide customized products to customers. The business aims to increase your ...

Employees' reduced levels of commitment, energy, and drive translate to reduced productivity. Consequently, employee motivation is critical for business success. At a dealership, employees face challenges that can quickly lower their morale. As such, there is a need for dealership owners and ...

Hiring the wrong applicant can erode morale, decrease productivity, and corrode the dealership’s image, not to mention the considerable expenses spent and lost in the hiring and training process.

Whether you are starting out or already have a thriving business, you might have heard time and again that the cost of acquiring new customers is five times more than retaining the existing ones. That's true for many businesses amid the intense competition, especially in the crowded e-commerce ...

Have you ever had an employee call out sick or not show up for their shift? Or worse, have someone quit on the spot? These are all situations that can leave a dealership scrambling. Having a fill-in F&I specialist on-call can help combat these emergency issues. Here are a few things to know ...

Customer service plays a huge role in the success of any dealership; it's one of the top reasons why people go to dealerships and tell their friends and family members about their experiences there. Dealerships have realized that good customer service can make all the difference in increasing ...

Dealership success can be significantly aided by enthusiastic participation from all staff members. Employees are most productive when they are constantly encouraged and motivated. As a dealership decision-maker, you are responsible for creating strategies that will maintain constant staff ...

Every business’s success, including that of your automobile dealership, greatly depends on its team members- a business is only as successful as its staff. No matter how effective the management is, it is the employees who make or break a business. They are the company’s lifeblood who carry out ...

Customer service is an important but often overlooked aspect of running a successful dealership. Here are five ways to improve your dealership’s customer service.

There are state and federal regulations that every car dealership is required to comply with. The automotive industry has multiple regulations that are overwhelming for most dealerships. However, our consulting firm is here to guide you on the best ways to maintain compliance when operating your ...

Clear communication between the sales desk and the F&I department is vital to a company. Bringing together the team to work in unity takes effort. A cohesive unit is key to maintaining a good brand and attracting profits while providing a conducive work environment for employees. We have ...

Customer retention measures how many customers return to a business or brand after their first interaction. It's an essential metric for any business because it indicates the strength of your customer relationships. A high customer retention rate means your customers love what you have to offer and ...

In every business, quality of service is important for customer retention. When you provide excellent customer experiences, your automobile dealership can prosper. You can grow your dealership by improving the Finance and Insurance departments (F&I). According to the National Automobile ...

The success of an auto-dealership is dependent heavily on constant and transparent communication between the sales desk and the F&I department. While these two departments might work separately, this does not mean they work in isolation as they depend on each other to maximize the profits of ...

With consumers using social networks to guide purchasing decisions, social media marketing is vital for any business to succeed in today's modern world. Yes, this includes the automotive industry. Social media trends are showing car shoppers ranked social networks as more important than a dealer's ...

As with any business, retaining existing customers is much easier- and more cost-effective- than attempting to gain new customers. This fact remains true for your automobile dealership. That’s why every customer interaction should be approached with the intention of retaining their business for the ...

The success of any organization is built on clear communication. In the automobile dealership, communication between the F&I department and the sales desk can make or break the company. The two teams must work separately, but as a team through clear communication. Here are a few tips on how to ...

Car dealerships sometimes face unpredictable circumstances. Most urgent among them are employee no-shows or spontaneous resignations that can leave the managing staff in a sticky situation. During these times, fill-in F&I Specialists can ensure that the workday continues without a hitch. Keep ...

There are many symptoms of a lackluster car dealership floor - employees who have lost their drive, who have given up on the job. On the other hand, there are also plenty of auto dealerships with highly motivated employees who will stay with the company and work hard for years to come. Check out ...

The automotive industry has stringent laws that every dealership must comply with to protect customers and employers from unfavorable practices. Overlooking these laws can lead to hefty fines and penalties and a bad reputation for your dealership. But how do you keep your dealership compliant? Here ...

Employee motivation is one of the most important parts of running a successful dealership. There are some caveats though. For example, you've got to be able to establish an effective campaign to meet the needs of your dealership, as well as engage your employees. Positive behavior recognition is a ...

With the increased accessibility of information on the internet, car shoppers already know what they want as soon as they enter the car dealership. They expect to spend their time at the dealership effectively and productively. Unfortunately, this is not the case. Half of all the car buyers have ...

With today's advanced technology, it's easy to see if your dealership's customer retention percentage is where you want it. If you're not paying attention to customer return statistics, you may not be retaining first-time customers that could be lifelong clients. Here are innovative steps to help ...

Car dealerships sometimes face unpredictable circumstances. Most urgent among them are employee no-shows or spontaneous resignations that can leave the managing staff in a sticky situation. During these times, fill-in F&I specialists can ensure that the workday continues without a hitch. Keep ...

Whether you want to increase your dealership productivity, good customer service, or increase sales, put a keen eye on your employees. Nothing delivers better sales and counters competition in the market like motivated employees. But in an environment where every leader is trying to motivate their ...

How does your company meet its dealership compliance? Are you meeting the best market practices and trends? Dealerships need to stay compliant with the latest state and federal regulations. Here are ways a dealership can meet compliance to ensure its success.

Social media has moved from being an interactive platform to an entity that influences purchase decisions. Most people today use social media to find products they're interested in, and it's the same for car buyers. The biggest challenge for dealerships is the stiff competition on these platforms, ...

Motivation stands out as a key aspect of a dealership. If you can't motivate your employees to work effectively, you may not sell as many cars. After all, employees need to know how to work with customers if they want the dealership to succeed. As the world recovers from a pandemic, you need to ...

Running a dealership is not as easy as people on the outside may think. The profit margins aren't always high, but the competition is, which means that customer retention can be difficult, especially when they are looking for the lowest price every time. These five strategies will increase customer ...

The automotive dealership has several state and federal laws that it must obey. These laws are intended to protect employees and consumers from questionable practices. Compliance with these laws is important for your business to avoid steep fines and penalties. Failure to comply can also cause huge ...

It's a fact that happy customers spend more than unsatisfied customers and tend to come back. It only makes sense to better the customer experience as a marketing technique. Customers often describe the F&I process as their least favorite when it comes to buying a car. Here are four ways to ...

As the automotive industry enters a post-pandemic business landscape, dealerships must capitalize on opportunities from in-person F&I conferences to remain competitive. Principals and their finance and insurance teams can use the following guidelines to maximize the many networking, educational ...

Social media is the new marketing and branding solution for many companies. About 90% of marketers said that social media provided exposure to their company. Spending as little as 6 hours a day can mean more sales, traffic, and recognition for your business. The benefits of using social media for ...

Satisfied customers spend a lot compared to unsatisfied customers. Therefore, the easiest way to increase sales is by increasing your customers' satisfaction. Business entities are looking for ways to improve their sales processes and customer experience.

The global automotive industry has been hit hard by the Covid-19 pandemic. Considering that it can cost up to five times more to acquire a new customer than to keep an existing one, it is important that dealerships do everything they can to turn first-time customers into lifelong clients. Keeping ...

As an automotive dealer in the US, you must be conversant with consumer protection regulations, federal and state laws. The Federal Consumer Leasing Act, Truth in Lending Act, Fair Credit Reporting Act, and Gramm-Leach-Bliley Act are but a few examples. Any breach of these legislations will see you ...

Satisfied customers spend a lot compared to unsatisfied customers. Therefore, the easiest way to increase sales is by increasing your customers' satisfaction. Business entities are looking for ways to improve their sales processes and customer experience.

Every so often, you'll hear about a customer who just purchased their umpteenth car from the same dealership. Chances are, if you read the story, the customer was overly impressed with their first purchase experience that coming back was easy. So how can you make the same experience a reality for ...