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All ADM Blog Posts Tagged 'profit' (108)

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


Vendor
Don’t Miss Revenue Opportunities!!

It is widely known that Service is the lifeblood of all dealerships and, in many cases, keeps dealerships financially in the black. With the inundation of service requests by consumers, largely due to the increasing amounts of recalls that we’ve seen in the last few years, service departments are finding it more…

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Added by Andy Church on September 21, 2018 at 6:30am — No Comments

Is the Pre-Qualification Game Losing You Sales?

The sheer volume of leads many dealerships receive can be overwhelming. And, not only do they have to respond (hopefully quickly) to any new leads, they are also expected to follow up with those leads with a “buy or die” mentality. I can guarantee you that whoever is responsible for following up with leads can quickly…

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Added by Brett Sutherlin on September 19, 2018 at 7:07am — No Comments

Parts Sales: Money Doesn’t Grow on Trees

At one point in time or another, we’ve all heard someone in our lives tell inform us that money doesn’t grow on trees. And they would be right. Technically.

 

The facts are, however, that the phrase started because sometimes there is money…

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Added by Todd Smith on September 13, 2018 at 6:30am — No Comments

DOWNEY NISSAN BOOSTS SOCIAL MEDIA INTERACTIONS 627 PERCENT WITH VBOOST VIRAL VIDEOS

Videos of happy customers generate more online reviews and website visits  

 

Newport Beach, CA – September 10, 2018 – In the six-month period from February through July 2018, Downey Nissan, California’s #1 volume Nissan dealer, experienced a viral lift of 627 percent in their social media marketing program, attributed to videos sent out by Vboost, an automotive…

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Added by Paul Moran on September 10, 2018 at 7:00am — 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

Your Secret Weapon to Increasing Sales? Reading

Almost every dealership has some degree of training, from the manager telling the salesperson, “Here’s how to do a foursquare, now go get an up,” to a more structured and professional routine, perhaps from an outsourced vendor. The problem is, this training can be inconsistent. Or, due to high turnover, the managers…

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Added by John Wingle on September 6, 2018 at 7:14am — No Comments

Take a Good Look at Your Recall Customers

It wasn’t too long ago that most dealers shunned recalled vehicle owners, describing the additional traffic as a nuisance, or they viewed them as consumers who occupied service bays that could be more profitable with other types of business. 

 

However, changes in OEM recall reimbursement policies,…

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Added by Chris Miller on September 5, 2018 at 6:58am — No Comments

Don’t let your Competition Out-Brand You!

I am sure many of you are familiar with the sad fate of Toys R Us.

But, do you remember how it originated it’s online journey?  In…

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Added by John Wingle on August 29, 2018 at 7:00am — 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

Why QR Codes Failed: A Conversation of Relevance

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…

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Added by John Wingle on August 17, 2018 at 7:09am — No Comments

Auto Subscriptions: Winning the Present While Preparing for the Future

There’s a lot of buzz around subscriptions as a new ownership model, with various industry pundits forecasting major disruptions for dealers. I see things differently.

 

I believe there are several major barriers to subscription growth for non-dealers, and opportunities for dealers to thrive, should…

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Added by Scot Eisenfelder on August 17, 2018 at 6:54am — No Comments

Is Lack of Transparency Killing Your Lead Volume?

Throughout the history of our automotive industry – and even more so as we increasingly progress into the digital era – dealers have been focused on gaining more leads. Just about every widget and message on dealer websites has one single goal – conversion.

 

Does…

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Added by Steve White on August 14, 2018 at 7:00am — No Comments

Are Your Service Customers Ready To Buy?

You know how service visits affect service retention, but do you know how service visits relate to the customer buying process? According to a recent study conducted by AutoLoop, we discovered that the peak repurchase rate occurs between the fourth and eighth service visit. This valuable insight gives you an edge in…

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Added by Doug Van Sach on July 23, 2018 at 6:55am — No Comments

Are Processes Getting in the Way of Profit?

I recently read a great blog  about our industry by thought-leader Seth Godin. It explains how manufacturers and dealers do things very differently. Godin shares that manufacturers have worked for hundreds of years to…

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Added by Steve White on July 23, 2018 at 6:38am — No Comments


Vendor
Develop Your Managers to Maximize Your Bottom Line!

Department Managers have an enormous impact on your Dealerships Profitability. That impact can either be positive, or negative. The choice is really up to you. We would never let the coach on the field without a playbook and a strategy, yet as an industry we let our managers “play” every day…

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Added by Andy Church on July 13, 2018 at 7:30am — No Comments

Customers Like the Easy Button: Use it to Increase Sales

It’s probably not news to you that, while customers like having new cars, many dislike the dealership experience. And, that dislike often immediately begins from the first moment they arrive and are basically accosted by 10 salespeople approaching their vehicle as they pull onto the lot – yes, that’s mostly an…

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Added by John Wingle on July 11, 2018 at 6:56am — No Comments

Exclusive Insight: Luxury Tire Sales are Ramping Up

Peaking at nearly 25% of all ROs in July, this spike in tire sales goes through August before returning to normal levels in September.

 

Timing is Everything: Create Campaigns Now

Although all dealers see escalated tire sales in the last two months of the year, only luxury…

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Added by Doug Van Sach on June 29, 2018 at 6:30am — No Comments

Influencer Marketing isn’t Dead, You’re Just Doing It Wrong!

One of the hottest current trends is influencer marketing.

Businesses (and dealerships) bring in influencers to attract a crowd. We’ve all seen it, if not done it.

 

Perhaps it’s the latest YouTube star, that sports athlete that may (or may not) have…

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Added by Paul Moran on June 25, 2018 at 6:30am — No Comments

Are you Ignoring Your Most Valuable Point of Customer Contact?

These days, customer experience is a vital part of the car buying process.

And, the first part of that experience is your dealership’s appearance in the eyes of your customers, both on and offline. Sadly, I see far too many lots that are poorly presented – they…

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Added by John Wingle on June 22, 2018 at 6:30am — No Comments

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