Professional Community for Car Dealers, Marketing, Advertising and Sales Leaders
For car dealers, the opportunity to create loyal customers might start with a sale, but true loyalty is created in the service department. According to a 2017 IHS Markit study, the average length of car ownership is nearly seven years. That's a long time to maintain a relationship with someone until the next sales cycle.
So, the focus must be…Continue
Added by Courtney Evans on January 4, 2019 at 7:20am — No Comments
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…Continue
Added by Doug Van Sach on October 25, 2018 at 7:00am — No Comments
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…Continue
Added by Scot Eisenfelder on October 19, 2018 at 7:11am — No Comments
Added by Chris Miller on September 27, 2018 at 7:30am — No Comments
The customer experience is key to building customer loyalty, increasing referrals and securing repeat…Continue
Added by Chris Miller on September 21, 2018 at 7:30am — No Comments
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…Continue
Added by Scot Eisenfelder on September 21, 2018 at 7:30am — No Comments
If you divide your customer database into quintiles, you’ll discover that the top 20 percent is responsible for 79 percent of your…Continue
Added by Scot Eisenfelder on September 7, 2018 at 7:06am — No Comments
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…Continue
Added by sara callahan on August 29, 2018 at 6:57am — No Comments
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, but…Continue
Added by Ujj Nath on August 21, 2018 at 7:02am — No Comments
A recent blog article by myKaarma CEO & Founder Ujj Nath, posing a great question, “Are QR codes a technology asset or failure?” motivated me to respond with my own viewpoint on this matter, as it is a divisive topic for…Continue
Added by John Wingle on August 17, 2018 at 7:09am — No Comments
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 new…Continue
Added by Ujj Nath on August 7, 2018 at 6:44am — No Comments
On the service side, you probably know how many ROs were closed last month and how much revenue…Continue
Added by Scot Eisenfelder on August 3, 2018 at 7:00am — No Comments
Have any of you had success with QR Codes? By some reports they are making a comeback. But, on the other side of the coin, on an episode of Shark Tank late last year, renowned venture investor Chris Sacca commented that QR codes are “the herpes of mobile…Continue
Added by Ujj Nath on July 31, 2018 at 6:37am — No Comments
To that point, I am sure many of you are familiar with the shocking stories and downfalls of three highly successful companies: Blockbuster, Kodak and…Continue
Added by Ujj Nath on July 24, 2018 at 6:56am — No Comments
One of the staples for service department is tires, including sales, mounting, balancing and alignments. Tires are a price leader for your dealership and a great way to get customers in, providing you the opportunity for additional service work revenue.
Added by Ujj Nath on June 26, 2018 at 6:30am — No Comments
To stay top-of-mind with your customers, you need to keep in touch.
If you have lifecycle-based communications that launch automatically (triggers), you’re already taking advantage of a great tool for your dealership. This keeps your active customers engaged. However, to maximize…
Added by Scott Kane on June 25, 2018 at 6:30am — No Comments
On average, dealers capture just half of the necessary service work that needs to be performed on vehicles that come into their service lanes. This is a big leakage point that has a direct impact on service revenue. It also offers tremendous untapped potential.
In addition to acquiring new…Continue
Added by Scot Eisenfelder on June 21, 2018 at 6:30am — No Comments
Almost half of a dealership’s sales customers never return for their first service appointment – that’s a hefty chunk of a dealer’s lifetime service potential!
What causes this pattern in car buyers, and how can you channel more of them from your showroom to your service lane? AutoLoop…
Added by Doug Van Sach on June 18, 2018 at 6:30am — No Comments
Many USA based businesses are now asking people to opt-in to their email list versus distracting customers and potential customers with…Continue
Added by Carol Forden on June 12, 2018 at 9:00am — No Comments
If you have been paying attention to industry trends I am sure you have noticed the ever-increasing gap between the size of smaller dealerships and large auto groups. Groups are swallowing up smaller dealers left and right as they continue to grow.
Of course, size…Continue
Added by Ujj Nath on June 11, 2018 at 6:30am — No Comments