Rediscover the Power of Your Data… and Recession-Proof Your Dealership
Over the last two years, the auto industry has experienced several unplanned shifts. Prices of new and used vehicles have skyrocketed, and dealers are struggling to obtain inventory or have experienced the frustration of buying inventory for top dollar at auction and not getting the return on investment. Trying to find a buyer seems less plausible every day, it goes unsold.
Your dealership most likely has been impacted by supply chain interruptions, and because of shortages, long waits for factory orders have become the new norm and represent over 50% of monthly sales in many cases. While rising interest rates increase costs and require more sales to remain profitable…doubling down on the growing pressure seems to provide little relief.
If this all sounds a little too close to home, you have probably come to accept that the automotive environment has been disrupted and is not likely to go back to how it was pre-COVID. It only makes sense that your instinct would be to cut costs in areas that seem like “luxuries” or “extras.” However, the reality is that this is the most critical time to invest in your database, especially one boosted by modern technology and automation that connects you with ready-to-buy and/or sell customers.
The Future Belongs to Those Who Prepare for It Today
COVID-19 forced the automotive industry to put long-term plans aside and focus on the immediate future. Everything turned into a day-to-day operation; dealers were forced to pivot and stay afloat as best as possible.
As the dust settles, the state of the industry is in a better position, and it’s becoming more apparent that technology and data are needed to connect the dots and help with the heavy lifting.
The clock is ticking, and you lose potential sales if you aren’t making a 30, 60, or 90-day plan. Relying on the “up bus” and exhausting your call lists with impertinent messages that can damage your customer relationship is not a long-term strategy to make you competitive in today’s market.
Your Customers Want to Know You Understand Them
Consumers expect a different experience; they want to feel heard and show that their time is valuable. Routine conversations that are linear and generic don’t keep your customers engaged and very easily turn them off.
Instead, create a partnership with your customers, showing them that you respect them as individuals and will work to find the best option (and deal) for them.
For example, when your doctor’s office calls to let you know it’s time to come in for your annual exam or refers you to a specialist because of a new symptom, you are more likely to engage with that information and trust that your provider has your best interest at heart. Your dealership can do the same!
As the typical second most significant purchase, a vehicle is more than a deal; it’s a human need and should be treated as such. Relevant marketing offers specific to each customer, whether for bringing them in for routine maintenance or letting them know a newer upgrade option has become available, demonstrate specificity for your customer’s individual needs and make them feel valued.
A basic automotive platform cannot provide you with these advantages nor the reward of repeat business of loyal customers.
Why Data Matters (but not just any data)
Leveraging your data insights is necessary to develop strategies that counteract the inconsistent market and cut costs to help you keep your momentum in these unpredictable times. AutoAlert’s data is so robust and granular that it provides advanced searches that empower your staff with the most accurate data and will enable them to deliver the best options to your customers.
Speaking of empowering your staff, AutoAlert efficiently uses AI to automate workflows to send targeted messages to customers to buy back their vehicles and/or place a retail factory order. AutoAlert also leverages geolocation to know where and when your customers are shopping on a competitor’s lot so you can proactively reach out to them with an opportunity before your competitor even knows they are looking.
Helping your team easily identify the best customers in the market affords them a purpose and strategy from just one platform. They no longer must jump around from screen to screen; AutoAlert houses it all in a single easy-to-use system and makes the connections for you. And our mobile application allows your staff to be on the move while working deals. Your team is no longer chained to their desks; they can walk the lot, get gas in a test vehicle, or even go through the car wash while staying connected to their open opportunities.
Your Future Can Be Secure
AutoAlert listens to our dealer partners and adapts and evolves to current market conditions. Our award-winning data mining platforms continue to provide outstanding value and introduce new features that enhance your experience, and our customers see the results.
In fact, in 2022, AutoAlert dealers acquired and turned 3.5X more used vehicle inventory at 50% higher gross by using AutoAlert than in 2020.
We are also honored that our dealers just awarded us the 2022 Dealers’ Choice Award for helping them continue to achieve excellent results in these challenging times.
Let AutoAlert help you cut costs and recession-proof your dealership by scheduling a demo today!