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All ADM Blog Posts Tagged 'profit' (171)

5 Essential ORP Communications

Your dealership has probably been using an owner retention program (ORPs) for years, but when was the last time you evaluated the effectiveness of each communication?

One thing is certain. Sending out the same communications with the same messages via the same channels, again and again, isn’t a winning strategy. The goal of an ORP is to…

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Added by Courtney Evans on November 8, 2019 at 6:36am — No Comments

What’s Your Service Marketing PRO?

If you ask a dealership GM or controller “What’s your marketing per vehicle retail (PVR)?” not only will you get a precise answer, but likely a dissertation on the drivers, trends and plans to optimize. That’s because auto retailers understand that marketing efficiency and effectiveness is the lifeblood of their new and used vehicle…

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Added by Scot Eisenfelder on August 23, 2019 at 7:24am — No Comments

Rides on Demand: How Vehicle Subscription Services Could Grow Your Profitability

Over the past few years, subscription services of all types have become increasingly popular with today’s consumers. Big names like Netflix and Amazon leverage them to offer optimized, often instantaneous access to their goods. Now, it’s the auto industry’s turn, with the rising popularity of vehicle subscriptions. These programs charge customers a monthly…

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Added by Jeff Giere on August 22, 2019 at 7:15am — No Comments

The Surprising Effect Charity Work Has on Your Bottom Line

Community involvement has always shown a strong correlation with successful businesses. A study published in Strategic Management Journal found that philanthropy was associated with increased sales growth. A 2018 report by Nielsen Global…

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Added by Stephen Coambes on August 15, 2019 at 7:11am — No Comments

Getting Service Recommendations Is Child's Play

Customer experience and standing out from the competition by excelling at customer satisfaction is still very much a good business practice today. Time is valuable for today's busy consumers, and many dislike the vehicle service experience at dealerships because of long wait times.

Loaner cars and shuttles help, but they can end up making it…

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Added by Dan Beres on August 13, 2019 at 7:00am — No Comments

Do You Know Your Customers’ Service Share of Visits? Here’s Why You Should

In the automotive industry, the ability to earn a greater share of a customer’s spend is the key to driving higher customer lifetime value. To that end, many dealers utilize flawed retention strategies designed to achieve a minimum number of service visits rather than maximize the…

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Added by Doug Van Sach on July 18, 2019 at 7:07am — No Comments

Service Marketing: To Reach Younger Drivers, Go Beyond Recommendations

Though every vehicle today comes with a recommended maintenance schedule from the manufacturer, many consumers don’t follow them.

What’s worse, some may not even know they exist! We recently surveyed 1,000 auto dealer customers and found that younger generations are less…

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Added by Jeff Giere on July 11, 2019 at 7:30am — No Comments

A Simple Way to Capture Additional Service Revenue

In a quick review of dealership’s websites, I find that many are almost entirely sales focused and tend to neglect the one department that brings the most significant percentage of profit… service.

Go ahead. Take a look at a few dealership websites. Service tends to be the…

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Added by Ed Barton on July 11, 2019 at 7:00am — No Comments

What’s the Silver Lining in this New Car Sales Slump We’re In?

According to an article in Automotive News, dealerships are in a new car sales slump and have to increasingly rely on used car sales and service revenue to drive profits.…

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Added by Dan Beres on July 2, 2019 at 6:30am — No Comments

Social Selling: Why Dealers Should Adopt It

Let’s go ba.ck in time for a moment. 16 years ago, in 2003, there was a brand-new highline dealership. This dealership was getting very little walk-in traffic...

Despite having 10 salespeople on the floor, they were lucky if even one customer came in on any given day. With no…

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Added by Paul Moran on June 27, 2019 at 7:00am — No Comments

Finding – And Keeping – Better Techs

With the auto industry facing a shortage of technicians, it’s important to do what we can to attract young technicians and keep them.

After all, when the front end of the business slows down, it’s the back end that can keep your store afloat and profitable. But there are two main problems…

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Added by Stephen Coambes on June 13, 2019 at 7:00am — No Comments

Navigating the Maze of New In-Vehicle Technology

According to a recent article in Automotive News, consumers LOVE the idea of all of this new in-vehicle technology. The problem is that many of them don’t truly understand the intricate features and benefits. There is no way a salesperson can explain each and every technological…

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Added by Dan Beres on June 5, 2019 at 7:07am — No Comments

The Great Race Against Time!

In today’s society, time is a precious commodity. So much so that consumers make their buying decisions based on how long it takes to complete the transaction. If you had the choice between a $20 oil change that would take 4 hours to complete, or a $30 oil change that would take 30 minutes, which would you choose?

For the automotive industry,…

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Added by Dan Beres on May 16, 2019 at 7:00am — No Comments

Tires Are Revenue Drivers: Here’s How To Get Your Share

Sales profit margins are getting smaller, and dealerships are looking to service as the profit-making aspect of their business. And there’s one area of service that’s particularly overlooked, especially for how much revenue it can generate:…

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Added by Stephen Coambes on May 8, 2019 at 7:09am — No Comments

When it Comes to Sales & Service, Don't Be A Zombie!

We have all heard of the ABCs of Sales (Always Be Closing), but I would like to turn that around to Customer Service – Always Be Considerate!

If you…

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Added by Veronica Dunford on April 24, 2019 at 6:00am — No Comments

3 Innovative Recall Tactics

Many dealers struggle with getting customers to bring their vehicles in to take care of recall issues. The fact that the average recall completion rate is around 75 percent, tells us that standard recall marketing campaigns aren't as effective as they could be.

 

Your customers either aren't getting the message, or they set it aside and forget…

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Added by Scot Eisenfelder on April 19, 2019 at 7:57am — No Comments

What are the Odds?

On any given day, weathercasters in our area predict a 20% chance of rain. It’s a safe bet with a one in five chance of being correct.

 

In an industry that tends to reward “Strong Wrong” more often than “Soft Right,” the bold and the brave may tell you that they can predict your sales with amazing accuracy via their proprietary…

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Added by Jim Flint on April 19, 2019 at 7:22am — No Comments

It’s All About Timing: Effective Service Customer Communication

Notifying customers when they are due for service is an obvious—yet crucial—part of any dealer’s marketing strategy. Unfortunately, not all notifications get the same results. Many well-intentioned efforts are too little, too late, and don’t have a solid strategy. And breaking through to…

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Added by Jeff Giere on April 18, 2019 at 7:00am — No Comments

Can You Hear Me Now?

One of the biggest obstacles many dealership service departments encounter is contacting and communicating with their customers. This is not only a problem with recall customers, but with all service customers in general. And failure to communicate can easily…

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Added by Dan Beres on April 16, 2019 at 7:35am — No Comments

The Single Most Important Digital Retail Metric Is Also The Most Ignored

For dealers, the digital retail space is filled with more hype than ever. Digital retail companies promise a future with increased conversion rates, higher gross margins, and better customer experience to boot.



And the truth is…it works! Digital…

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Added by Michia Rohrssen on April 8, 2019 at 7:00am — No Comments

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