22
Dec
09

Successful Dealers Share their Secrets to Success

 

 

It is always good to learn the practices of other successful people in your industry.  According to a study done by EasyCare the dealers that have done well during this recessionary period have all concentrated on these three things. 

–          Seize the opportunity to obtain growth in your business 

–          Get to the basics of good business 

–          Mine the value in your current customer base 

The dealers also offered some advice to help with better business practices by focusing on the basic principles of a dealership.  One dealer said “Yes, I’m talking basics. Why companies get away from these simple things is a mystery. At (the dealership), we have tried very hard to stick with the basics over the last 50 years,” the dealer continued. “This business really has not changed that much over the years; people simply want good value for their money from a company that they have a good relationship with, one that will provide a fantastic buying and ownership experience. How has that changed?”  Most of these dealers that have blossomed in this time have felt that many dealerships have lost the basics.  One dealer described this by saying, “I find that the ‘basics’ are what people want to abandon first and the strange thing is that these ‘basics’ are usually free or at little cost to the company. I’m speaking of simple things like follow up, professional demonstrations, new owner clinics, sales contest, keeping the display clean and perfect, building/lawn maintenance, employee recognition, etcetera.”  

Continuing to spend money on marketing is another method to help increase sales. Easy Care stated that its most significant finding from the survey was that, “simply put, the dealers whose revenues had grown or stayed the same were significantly more likely (up to 56 percent more likely) to have maintained or increased their marketing investment, and 71 more likely to have maintained or grown their personal expenses.” 

These are only some of the highlights found in this study.  To read more about the study on autoremarketing.com please click here.


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