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 mandatory requirements.
In part two of our article, we break down the regulatory language and jargon to help you understand what the federal and state is required of you.
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 processes and customer experience. Below are four ways to improve the F&I process in your dealership.
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 opportune time, these things always seem to occur when you are least expecting it.
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 people matter more than your strategy does.
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!
Topics: Instant Live Video Calls
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 vehicle can keep the customers coming back. Here are five tips on how to increase customer retention