I am personally very pumped up about 2011 and I hope your dealership team is too. It’s going to be a fantastic year filled with opportunities! There is no doubt the past 24 months have been some of the roughest that our industry has ever seen, but the crisis is over and the industry is rebuilding. Credit is loosening, the economic indicators are rising but most importantly I am seeing some stores digging in and doing some really amazing things. I believe that its at the ground level where the seeds are planted and the magic happens, and I can tell you there are some awesome things starting to sprout up! As you know, I spend much of my time traveling and working with dealerships so I see a very broad view of what is working and what isn’t within the industry. There are three trends, three commonalities that I see the aggressive and ultra successful stores doing right now to really grow. Put these things on your to-do list to maximize 2011. 1. Assess your dealership org chart The world has evolved, consumer-buying behavior is different and the skills needed to connect with these buyers have changed. This has altered the necessary job roles and responsibilities that your team must have to be successful. Things like content writing and the depth of an Internet manager’s marketing role are prime examples. Don’t be afraid to create new positions and certainly alter some old ones. Be sure your pay plans follow the change in job responsibility or the results wont stick. 2. Track the right benchmarks Just as many job roles need altering, so do the key benchmarks that you should be watching on your daily and weekly docs. Its not all about gross, volume and a closing rate anymore. Watch your Google analytics, site conversion rate, your keyword ranking reports and social media engagement. One of the most important benchmarks your store should be watching is its online reputation: it’s more powerful than CSI and has dramatic impact on your sales. 3. Invest in education With all the constant change in the marketplace, and competition for fewer car deals being so tough, training your staff becomes an even bigger part of your success. Lack of education in your team can quickly turn into failure to keep up in today’s market. How good are you doing at educating your team? We at DrivingSales will be right there with you this year, growing, building and staying 100% focused on delivering the information your dealership needs to be more profitable. Our publication will print quarterly this year, delivering best practices and an up-to-date ranking of dealership vendors based on the vendor ratings submitted at DrivingSales.com. Our website at DrivingSales.com continues to grow as the number one place for dealers to find the best practices and operational strategies they need to grow their dealership. In addition, the Vendor Ratings continue to help dealers invest in the best technologies. Be sure to keep October open, as you will not want to miss the 2011 DrivingSales Executive Summit in Vegas. Last year was a huge success! Ask your peers that attended and they will tell you it was the best dealer event of the year! I look forward to seeing you all at industry events where we can shake hands and exchange dealership stories! 2011 is going to be a fantastic year!
LETTER FROM THE FOUNDER: Jared Hamilton, Founder/CEO of DrivingSales.com, welcomes you to another year with the Dealership Innovation Guide! Dig in and enjoy, and don’t forget to share your thoughts online at drivingsales.com!
“Two heads are always better than one. We’ve got the whole industry talking...”
Jared Hamilton Founder DrivingSales.com www.DrivingSales.com
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