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All ADM Blog Posts Tagged 'experience' (263)

How New Safety Features Mean New Opportunities For Dealers

It’s a common scenario: drivers eating, texting, talking on the phone, taking care of personal grooming, or even reading while on the road. Loosely termed “distracted driving,” it includes any activity drivers engage in when they’re behind the wheel, according to the National Highway Traffic Safety Administration (NHTSA).

 

A recent AutoLoop study identified the most common of those activities among morning commuters while driving. With a remarkable 48% of…

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Added by Doug Van Sach on November 9, 2018 at 7:29am — No Comments

Shifting Winds Reveal Service Revenue Opportunity

After an unprecedented period of sales volume growth, the prediction for a flat Seasonally Adjusted Annual Rate (SAAR) in the coming years has significant implications for dealerships. As competition for new vehicles heats up, front-end margins will continue to decline, forcing more dealers to focus on back end…

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Added by Scot Eisenfelder on November 2, 2018 at 7:30am — No Comments

How to Supercharge Website Conversions through Mobile Optimization

In our industry, conversion rates are horrible. A great dealer “might” convert at a higher rate, but many are missing the boat on the majority of their website visitors. There are many reasons why this is true. However, the sad fact remains that it is.

 

Imagine making some simple tweaks to your website…

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Added by Brett Sutherlin on October 29, 2018 at 7:27am — No Comments

Why Technicians will Soon Rule the Automotive Industry

I think it’s fair to say that automotive technicians are getting harder to find. These days, less people are choosing a career in automotive repair, even though technicians make great money and many need little or no formal college education or previous experience. Look at independent repair facility employment ads and…

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Added by Chris Miller on October 29, 2018 at 7:10am — No Comments

Retail Hazard Ahead: Vehicle Purchases Experiencing Some Delays

The good news? To date, automotive sales have remained stronger than many analysts originally predicted, with customers of all ages continuing to buy both new and pre-owned vehicles. Considering some of the earlier ominous forecasts, it’s no wonder numerous retailers are…

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Added by Doug Van Sach on October 25, 2018 at 7:00am — No Comments

Obtain a SaaS Valuation with Subscription Revenue

Have you ever noticed how the market values dealerships versus how it values Software as a Service (SaaS) businesses that derive income from the same automotive revenue stream? SaaS businesses such as CDK trade at mid-20x P/E ratios while dealers trade at 4-6x operating profit.

 

One major reason for this…

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Added by Scot Eisenfelder on October 19, 2018 at 7:11am — No Comments

Where Oh Where Has the Service Department Gone?

Arguably, one of the most important marketing channels any dealership has is their website. Think about it. How much money do you spend simply to get customers there? When you combine all marketing efforts including, but not limited to, SEO, SEM, some third-party listing sites and…

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Added by Brett Sutherlin on October 12, 2018 at 7:00am — No Comments

What We’ve Got Here is a Failure to Communicate!







Dealerships spend a lot of money on leads. The bigger the store, the more money spent. And, added to that expense are staffing costs and the time and effort involved in trying to engage with consumers who submit the leads.

 

In the car shopping process…

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Added by Brett Sutherlin on September 25, 2018 at 7:00am — No Comments

Hello, is It Me You’re Looking For?

I frequently write about how, in my opinion, dealerships would be wise to expand their thinking and change attitudes towards recall customers … and not just recall customers, but all customers

 

The customer experience is key to building customer loyalty, increasing referrals and securing repeat…

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Added by Chris Miller on September 21, 2018 at 7:30am — No Comments

How to Boost Your Recall Completion Rate

Today one of five vehicles on the road are under recall.

This year alone there have been 46 million vehicle owners notified of a recall; seven million of which are not related to the Takata airbag issue.

 

Recalls represent a significant revenue opportunity…

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Added by Scot Eisenfelder on September 21, 2018 at 7:30am — No Comments

Three Merchandising Best Practices to Maximize Inventory Turn

In my last blog, I discussed how dealerships can lose significant profit by failing to merchandise vehicles efficiently. Simply put, you can’t sell something nobody knows you have. And, with thousands of competing vehicles…

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Added by John Wingle on September 18, 2018 at 7:04am — No Comments

Are You Training Customers to Blackmail You for Service?

If you hold a management position in the retail automotive industry, you’ve probably had a customer attempt to leverage something to get what they want.…

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Added by sara callahan on September 12, 2018 at 6:30am — No Comments

The Impact of Customer Lifetime Value (CLV) on Revenue

Do you know your customers’ lifetime value (CLV)? CLV defines the monetary value of your customer relationship by how much gross profit they have generated for your dealership.

 

If you divide your customer database into quintiles, you’ll discover that the top 20 percent is responsible for 79 percent of your…

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Added by Scot Eisenfelder on September 7, 2018 at 7:06am — No Comments

Stop Chasing Squirrels: The More You Know, the More You Sell

Henry Ford was once asked why he visited his executives rather than having them come to his office when problems arose or he needed questions answered. “I go to save them time,” said Ford. “I’ve found that I can leave the other fellow’s office a lot quicker than I can get him to leave mine.” Ford knew the…

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Added by Todd Smith on August 30, 2018 at 7:02am — No Comments

Content Marketing Is Not a One and Done Game

There is one common problem most companies run into when they start a content marketing strategy. Frequently, executives have unreal expectations and expect to go from zero to hero in a matter of days. They want an immediate return-on-investment – such as leads, engagement or website traffic. I am afraid that is simply…

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Added by sara callahan on August 29, 2018 at 6:57am — No Comments

You May Want to Keep an Eye on Tesla, Here’s Why:

Tesla CEO Elon Musk recently tweeted that he wanted to take Tesla private, which has garnered a lot of attention. Hey, I realize that Tesla as a company can be a polarizing issue in our automotive industry. But this is something you may want to pay…

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Added by Ujj Nath on August 28, 2018 at 7:00am — No Comments

How to Win the Marketing Battle: Exchange Cookies for People

The world of retail is setting the pace for embracing how technology is transforming the consumer buying process. The companies who are winning with consumers (Amazon, Netflix, Apple) have stopped looking at marketing by “channels” and are looking at individual human connections. These companies have replaced cookies…

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Added by Jonathan Lucenay on August 24, 2018 at 6:30am — No Comments

Wi-Fi is Like Water: You Need Plenty of it and here's how to do it!

Back in the early 1990s, the Internet was in its infancy. As a new phenomenon, not every business was sold on its benefits, or even why they should use it. This posed a problem for Cisco, a company whose main product at the time was routers. Cisco needed to prove that, not only would the Internet save companies money,…

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Added by Ujj Nath on August 21, 2018 at 7:02am — No Comments

Upside Down, Inside Out and Round and Round

Any of you familiar with that classic song from Diana Ross, “Upside Down?” Well, sometimes it’s an apt description of what can be a complicated sales process for today’s car buyers.

 

There’s a focused shift in the automotive community to reduce friction and create a more seamless experience for consumers…

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Added by John Wingle on August 8, 2018 at 6:56am — No Comments

Welcome to the Circus...See Cars, Elephants and the Wolf Boy!

When automobiles were first introduced into society, people didn’t know what to think. For the most part, early automobiles were reserved for the wealthy, while everyone else continued their transportation needs with the use of horse and carriage.

 

However, people were very curious about this strange…

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Added by Ujj Nath on August 7, 2018 at 6:44am — No Comments

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