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 ...

Motivated auto dealership employees are highly productive and easy to manage. You should ensure that they are encouraged and ready to face all the challenges at the workplace. This article provides a few ways you can motivate your auto dealership employees.

It's probably been a while since you've considered attending a live F&I Conference or tradeshow. Most of the world has adjusted to Zoom calls and virtual events. But now that Tradeshows, conferences and expos are back in action, it's the perfect time to consider planning ahead for you and your ...

Bringing in new customers is always important but bringing back existing customers and building loyalty is even better. There are several ways to keep people coming back, and we'll look at 3 of the most important tips here to improve customer retention.

The finance and insurance (F&I) department plays a very important role in building the revenue streams of an automotive dealership. This department is tasked with the responsibility of directly engaging clients to strike deals and improving customer experience in the process.

If you are looking to take your dealership to the next level, then you will want to expand your profit per customer and lower your marketing costs. The good news is that you can accomplish both by simply retaining the customers that you already have. Customer loyalty and customer retention are the ...

What are Dealer Equity Programs? As a car dealer, you know that certain problems are inevitable and can come up unexpectedly. They can be costly without a solid strategy in place. Dealer Equity Programs have got to be one of the best systems out there for dealers of all sizes.

Compliance with various state and federal rules and regulations is a crucial requirement for any business to thrive. The automobile dealership industry is no exception to this. One effective way to handle compliance in this business is through the implementation of deal audits.

Employee engagement goes a long way in building a successful dealership. The best way to engage your workers is through continuous encouragement and motivation. As a dealership decision maker, you are tasked with developing plans that will keep your employees engaged at all times to achieve the set ...

It's no secret that satisfied clients spend more than dissatisfied ones. When it comes to buying a car, arguably the most significant area of frustration and, therefore, an enormous opportunity to increase customer satisfaction is in the F&I process. F&I is a critical component of ...

Nothing is more fulfilling to an auto dealer than seeing customers walk in and drive out with one of the cars on sale. Acquiring new customers takes effort, just as retaining existing ones. As an auto dealer, you know too well that maintaining the cycle is critical in the face of increasing ...

Change is inevitable in the dealership industry, and it is your responsibility to safeguard your bottom line. The first step is staying compliant with the latest federal and state regulations while your dealership keeps evolving and moving forward. However, finding viable strategies that do not ...

When you look at all the successful businesses out there, the common thing among them is that they have employees who are highly motivated and dedicated to their work.

No one knew the demand for new and used cars would soar. Now, with the semiconductor chip shortage, customers are pre-ordering vehicles. It is time to look at your F&I process and make it the best experience for your customers, ultimately increasing your sales profits.

Social media play a significant role in the lives of millions today. Did you know that 24% of customers used Facebook in their last car purchase? This article will take you through how to grow an online presence for your dealership.

A common problem that dealerships go through is employee callouts and random no-shows, which affect the business's day-to-day operations. Since these are unexpected issues that mostly occur at the least convenient times, business managers need a quick, effective solution that prevents delays in ...

Every company wants to provide the best customer experience possible. That's why dealerships are always looking for ways to improve their sales process and the F&I process is no exception. The F&I process can be a major point of frustration or confusion for customers, so it's important that ...

There are several laws and regulations set by the federal and state governments to control automotive dealerships, and it can be stressful and straining for you to keep up with them all. You will not only be working on ensuring you keep up with all the required laws, but there is the challenge of ...

An auto dealership brand is more than just a logo and a catchphrase, it's the personality you convey to your local community of customers. The brand of an auto dealership influences how confident and comfortable people are buying from your team and trusting in your expertise. Awareness of your ...

A common problem that dealerships go through is employee callouts and random no-shows, which affect the business's day-to-day operations. Since these are unexpected issues that mostly occur at the least convenient times, business managers need a quick, effective solution that prevents delays in ...

The key objective for most managers in the automotive industry is to drive profits through the roof. As a result, competition has become intense, and the need for compliance with state and federal law has become necessary. There are several ways to ensure compliance in your dealership without ...

In the contemporary world, social media forms part of most facets of our daily lives. A study indicates that 72% of Americans use at least one social media platform. In addition, 72% of all car buyers find social media helpful in choosing their next car. This implies that social media offers a vast ...

Employee motivation is key to the effectiveness and performance of any dealership team. Dealership teams are often presented with challenges that can easily demotivate them. It could be problematic clients or disasters affecting their ability to perform. They are thus in need of constant ...

We know at times dealers are faced with employees who miss work unexpectedly or leave their job with little notice. That's why having a fill-in finance and insurance (F&I) specialist can help during these last-minute situations, so the dealership can continue operations with little interruption.

There are several laws and regulations set by the federal and state governments to control automotive dealerships, and it can be stressful and straining for you to keep up with them all. You will not only be working on ensuring you keep up with all the required laws, but there is the challenge of ...

Several traditional revenue centers exist in a typical automobile dealership, including vehicle sales, service, finance, and insurance (the latter two are known as "F&I"). However, there are other revenue streams available to auto dealers these days that they may want to take advantage of. Any ...

An auto dealership brand is more than just a logo and a catchphrase, it's the personality you convey to your local community of customers. The brand of an auto dealership influences how confident and comfortable people are buying from your team and trusting in your expertise. Awareness of your ...

No matter how prepared your dealership is for the day, emergencies happen. And they usually happen at the worst time possible. Car deals are lost because of no-shows and employee callouts from time to time. Having a fill-in F&I specialist on hand can help combat these issues. Here are three ...

Dealerships are under a lot of scrutiny these days. In order to comply with state and federal regulations, it's important that dealerships stay up-to-date on the latest laws. That being said, many dealerships fail to keep their compliance in check because they don't know how or where to start. ...

For most businesses, employees are the driving force to success. That is not any different in the dealership industry. With numerous dealerships in the market, the competition is stiff. Therefore, you must deploy strategies to be on top of the game and compete favorably. The most crucial strategy ...

Engaging a Fill-In F&I Specialist Partner –Top Benefits Having well-trained and qualified staff in your dealership is a plus. However, whether yours is a large or a small-sized dealership, you will face the challenge of hiring and retaining such employees. You probably have had to deal with ...

Today's automotive dealerships must maximize profits from every revenue center. Good managers at auto dealerships also understand that revenue depends on customers. However, without a good customer retention program, you're likely missing out on potentially substantial income. One way to improve ...

Auto dealer equity programs are a burgeoning business idea that's gaining momentum among automobile finance managers, dealer principals, and general managers. Equity Programs are customized financial products designed to enable auto dealers to cater for the costs of product and service ...

The ultimate goal of every business, including dealerships, is to convert leads into sales. An F&I business manager is usually the last stop before a customer makes any purchase in your dealership. The sales department hands over potential clients to these individuals to complete the deal.

Auto dealership owners need to focus on one key concern — providing excellent customer service that leads to retention. It is vital to do everything you can to transform first-time customers into lifelong clients. Luckily, retaining a successful relationship with your current clients is easier and ...

Have you ever had an employee miss work in your dealership? Whenever one of your employees fails to show up for work, your business is disrupted, and its bottom line gets damaged. Having the right person to stand in for the absent employee in such cases can help your dealership remain operational. ...

For your dealership to be successful, you need to master the art of continuously attracting clients and ensuring customer loyalty. In fact, it is much easier to retain your customer base than to attract a new lot of clients. Additionally, various reports state that increasing your customer ...

For any business to thrive, the sales processes must be stellar, as should the customer experience. The secret lies with the F&I process. This process begins after the client commits verbally to buying an automobile. Therefore, it calls for a strong finance and insurance department tasked with ...

Nowadays, there are multiple state and federal regulations regarding automotive dealerships. These regulations' primary intent is to protect consumers as well as employees from unethical practices. You risk paying hefty fines and other consequences if you run afoul of these regulations, not to ...

According to Statista, there were over 3.5 billion social media users worldwide in 2020. Forecasts indicate that the figure will increase significantly in the next decade. Most of the businesses have noted opportunities and are adjusting their marketing strategies accordingly. Besides, the current ...

Improving customer retention will ensure your dealership succeeds in the long run. Finding new customers is never as simple as it sounds, primarily due to the Covid-19 pandemic. You will end up spending a fortune on expenses such as advertising with a low likelihood of success.

Dealership compliance is a vital consideration, especially after the creation of the Consumer Finance Protection Bureau. It is your job to keep up with numerous regulations, from marketing to F&I and inventory. Although it seems like a lot of work, these five strategies can help keep your ...

Looking to hire an F&I business manager for your dealership? Considering the critical role that the professional plays, it is important to pick a top performer for the position. Finding a good fit will go a long way in helping you improve customer service, increase customer satisfaction, and ...

In the twenty-first century there has been an undeniable push toward digital advertising and selling. Now more than ever, car dealerships and businesses are attempting to rely on methods that can reach people from afar, as so many individuals are being cautious with their interactions. In truth, ...

Management of customer retention rates is one of the key pillars of successful dealership. Great research from Harvard Business School details that a 5 % increase in customer retention rate significantly improves the business profit from 25% to 95%. Also, the fact that it is five times more ...

As auto dealers continue to hunt for new ways to catch customers' attention, many are still not using social media to its fullest potential. The current pandemic has made social media more important than ever when it comes to branding-- and auto dealerships are no exception. It's essential for ...

If you are running a dealership, you must have known by now that having a robust internal control environment is a crucial success factor in your business. With the proper internal controls and consistent audits, your organization cannot only achieve the set goals but also guaranteed operational ...

DESIGNING A SUCCESSFUL F&I PROCESS FOR YOUR BUSINESS Having a well-established F&I department is one of the most important things for financial growth. Establishing strong profit centers within your organization helps you ensure that the purchase process is well monitored by scrutinizing ...

Many car dealerships tend to focus most of their attention on marketing strategies. They implement quality digital strategies to build a brand, boost sales, and gain an edge over their peers. However, some fail to realize that their salespeople are the linchpin of a successful automobile dealership.

Top 10 Dealership Laws and Regulations As we have already discussed, the automotive retail industry faces a complex challenge of complying with the stringent legislation as set by state and federal governments. Many dealerships have often fallen short of expertise, time, and workforce to uphold the ...

Most automotive managers are so pre-occupied with bottom-line results (driving profits) above all else. And that's fair enough since today's auto retail industry is more competitive than ever. Nevertheless, the cowboy car dealer days are well over.

The F&I process is crucial in every dealership. According to research by NADA, an average dealership company reaps half of its profits from F&I products. Therefore F&I process and strategy need to be exemplary. Companies are consistently looking for approaches to improve their sales ...

Whether you're an experienced or novice automotive dealer, you realize that from time to time, dealers suffer from employee fall-outs, random no-shows, and other reasons why your employee is not at work. Sometimes, employees quit without giving notice. Worse enough, while there is never an ...

As it is with most dealerships, your parts and service department is probably your company's lifeline. According to a previous report by the National Dealership Association, the service and parts department accounted for about 46% of the gross profits of the average dealership. Putting such figures ...

In the automotive industry, laws and regulations are always being updated and changed. It’s essential to keep up on the latest information and news and also be consistent with Deal Audits. Here are a few tips to consider when needing to keep your dealership compliant.

What makes a car dealership successful? While it's important to have a solid sales strategy and a cohesive plan to attract new customers and retain current ones, your team is at the heart of your success. Without a strong team, even the best-laid plans may fall apart. Here's why in the end, your ...

Reinsurance is an agreement between two insurers, where one transfers portions of its risks portfolios to reduce the chances of paying a large insurance claim. In this model, the reinsurer is the second business and is responsible for clearing the claims that arise from the first company. In the ...

Acquiring a new customer can cost five times more than retaining an existing one. However, in a world where customers are more informed, more demanding and savvier than ever, retaining existing customers can be challenging.

Vanguard Dealer Services can now offer our dealer partners the ability to have instant live video calls between sales team members and customers/prospects. You can put your customers in a face-to-face online interaction with your sales team with just one-click off your existing website!

When you run a dealership, you need to motivate and encourage your employees. Doing so will help them work hard and succeed. However, many employees struggled during the pandemic, so you may wonder how you can motivate them once the pandemic ends. We have three ideas to help you out.

Customers need a good reason to come back to your dealer shop. You can provide it by offering an excellent customer experience. Statistics show that 84% of businesses that improve customer experience get higher revenue. A fantastic experience when buying a new car, accessories, or servicing a ...

It's never convenient for any business to be short-handed when employees are not able to show up for work. It's even harder when an employee resigns or quits on the spot. Having an on-call F&I Specialist to fill in during these emergencies can keep your dealership motoring with success.

Benefits to Becoming a Dealer Equity Plan Provider Dealerships that incorporate the F&I side of their business benefit financially. Dealer equity companies allow dealerships to develop a secondary revenue stream. Dealerships that turn F&I departments into reinsurance companies benefit from ...

Having the right team in a business is a sure path to success in any industry. If you run a dealership, you may have noticed a decline in staff motivation. This is natural, especially post-pandemic. Business has gone down for several industries. And everyone is holding tightly to what is left of ...

Most automotive dealerships would agree with the statement that within their establishment, it's their finance and insurance department that generates the most revenue per square foot. When a department is that mission critical, there is simply no room for gaps in its staffing, at any time. In ...