A buy and sell opportunity can turn into a lucrative business provided that you do it well. As technology increases and state-of-the art cars are being produced, people will always have the need to buy new vehicles; thus also creating the need to disposed of old ones.
Let us look over your website, social media, advertising, staff, photos, video, and listen in to your phone calls. One of the reasons why dealership principles need an outsider is to look at things in a fresh perspective. There is always room from improvement in order to convert higher each month.
We look at your dealerships strengths, weaknesses, and how you fare versus competitors in local markets.
These competitors can be those who sell the same brand or similar style cars under different brands. The important thing is that their locations are in close proximity to yours, and represent a viable alternative for your customers to shop. When evaluating strengths, identify those things you do better than competitors. You may sell higher quality new and used cars, for example. Your selection and color variety may be more extensive, or you may have the best customer service department among car dealers in your area. Rank your strengths according to those in which you enjoy the greatest advantage over competitors.
Pinpoint opportunities to differentiate yourself from competitors based on your key strengths. For example, your high service rating may be a direct result of knowledgeable service managers and mechanics. Therefore, flood your advertising messages with facts about your service ratings. Car companies and marketing research agencies usually conduct reviews, rankings and ratings on cars and dealers.
Write down and rank all of your dealership’s weaknesses. These weaknesses can include those recognized by the public, or various internal problems that the public never sees. For example, competitors and customers may know you suffer a cash flow problem because of a recent article, but they probably don’t know any specifics about financial options available to you. Financial options may be a weakness if you are unable to obtain a bank loan. Other weaknesses can include high start-up costs and the size of your staff. You may simply have too few sales reps and managers to reach your sales objectives.
Hire additional sales reps and managers to maximize car dealer sales if this is one your key weaknesses. Secure a financing source for expansion if you are short on cash. Also, keep a constant watch on your competitors, as they may initiate strategies that threaten your business. Track whether competitors are lowering prices, using rebates or increasing their advertising, counter competitors’ initiatives with strategies of your own.