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.
GPS installs are also the very best way to streamline the customer experience. When you have large turning inventories and cars everywhere, your customer is ready for a test drive, but your salesperson has no idea where the car is located. It can take 20 minutes or more to find the vehicle, leaving a poor impression and a customer that isn’t very excited or confident about buying from you.
Further, you can add improved loss reduction and lowering the risk of losing vehicles to the reasons why GPS products make sense. If you are suffering losses because employees drive irresponsibly, you aren’t tracking who is taking out vehicles, or customers are using the cars as loaners, you are likely seeing a lot of claims. You can limit your liability and reduce insurance costs through the simple installation of a GPS system.
The key to your success with GPS is having your sales team trained on the benefits and how to isolate what is most important to customers. Bringing it up as a benefit early on, showing the customer the easy-to-use app, and showcasing that every vehicle you sell has a vehicle protection system will help get them engaged and motivated as buyers. Most customers opt to continue the plan once their trial period ends.
As a bonus, the GPS app will dispatch maintenance reminders driving customers back to your service drive. The app provides a scheduling tool that can translate directly into the dealership for service drive appointments.
Overall, GPS systems have a very high success rate (60-70%) for upsell penetration. The product is eligible for dealer participation programs (reinsurance), is agnostic, and can be customized to your program.
As a business owner, you want to understand your return on investment. An easy example to follow is, if you are selling 500 cars a month, on average you will see over a million dollars in profit revenue, not including reinsurance profit, on the GPS product. Average retail to market is $728 but varies between $599 and $999. There are no hidden fees and we do not charge to install on every vehicle. If you don’t sell the product or have a dealer trade, it’s easy to uninstall and use again on another vehicle. It’s never a net loss.
To learn more about GPS products for your dealership, contact Brandon Bell today on LinkedIn or by email at bbell@ezvds.com.
