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So what needs to change?

To maintain dealership profitability we must review the traditional dealer network and become more flexible and agile through:

This change will lead to:

  • Smaller dealerships
  • Reduced real estate costs
  • Reduced sales team replaced by specialist product and transactional team members
  • The development of a robust and flexible CRM platform
  • The ability to provide the customer with a balance of physical and virtual experience

Next Steps:

  • Engage customer in a flexible sales process
  • Gain a deeper understanding of their customers’ behaviours, needs and preferences to build a more personal relationship
  • Target a new car sales conversion of 50 per cent customer loyalty/referral
  • Enhance the customer experience and support the sales teams in the delivery of a customer-for-life prophecy
  • Use real-time data to personalise the customer experience. The collection and analysis of customer data will give dealers the best chance to understand, anticipate and adapt to the continuous change that comes with the connected consumer
  • Encourage the use of technology in your business
    • Improve marketing effectiveness through micro-targeting, personalisation and delivery of context and channel sensitive promotions and offers that increase the likelihood of purchase.
    • Encourage collaboration between all departments, all managers, all team members to create the single customer view
    • Establish key success measures and a tracking system to monitor all customer interactions within all dealership departments
    • Sell ‘Experiences’ over products
    • Reward based on actions and activities, not just outcomes. This will ensure the outcomes are of great quality
    • Position your team as brand ambassadors
    • Embrace technology
    • Transform your retail space to a compelling customer experience instead of a place to transact
    • Accurate management of Facebook, Twitter and other social media is vital

 

KPMG workshop: retailing into the future part 1

KPMG workshop: retailing into the future part 2

By Brian Fellowes

 

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