Cox Automotive conducted a study in which 449 successful dealers were examined in an effort to gain insight into their successful practices. Though their definition of “successful” may be subjective, some good points were made. Here are a few of their suggestions from the Cox Automotive Forward-Thinking Dealership Study:
Have a plan. Every single car is essential, so be intentional about creating a long-term vision for inventory. Utilize dedicated resources to ensure you are always working towards the vision.
Embrace data. Allow data to inform every aspect of operations. Bonus points for optimizing and integrating data.
Be adaptable. Things don't have to be done the way they've always been. In fact, most advise against it.
Marketing is major. Dedicated marketing staff create quality content and maintain engagement — it's worth it.
Always go the extra mile. From personalized messages to streamlining the lending process… customers will remember. (And you'll get your steps in for the day😁)