It’s the question every motor dealer asks. How do I grow my dealership profit?
In reality increasing your dealership profit doesn’t come overnight. It involves a clear, well thought of strategy that is both realistic and achievable.
EasyCars has put together the complete guide on how to grow your dealership profit.
Report on Advertising
Research shows that the average dealership spends 8.2% of their yearly gross revenue on advertising. With that being said you want to be sure you are getting the best ROI (Return on Investment).
Dealers should frequently assess their total spend on each advertiser and assess the quality of leads produced. Reporting on your ROI frequently gives you the ability to change advertisers who aren't providing a return instantly.
Before starting to advertise it’s so important that you understand the overall costings per advertiser and implement budgets. Many dealers fail to set a budget which could potentially cost thousands.
Just because many consumers use the large and expensive online classifieds, it doesn’t mean you have to spend thousands on advertising to entice them. For dealers looking for an alternative there are many FREE online classifieds that often generate better returns.
Automate your management tasks
Are you sick of manually entering invoices, sales contracts, and advertising? Doing these everyday tasks could be costing your business thousands that you don’t even realise yet. Doing tasks manually often creates mistakes and wastes valuable time that could have been used to grow your dealership.
The solution is a web-based Dealer Management System. A Web based DMS offer motor dealers a solution that automates everyday dealership tasks. A DMS slashes frustrating manual jobs - giving you more time to focus on sales. The best part of web-based DMS's is you can access valuable information from anywhere, anytime and on any device. This is a great advantage as it gives you complete control over your dealership no matter what the world might throw up.
Don’t understand the importance of online reviews? Statistics show that 81% of customers base their buying decision on your online reviews. If your dealership has countless negative reviews, you could be losing sales!
Asking your customers to leave a review after they have purchased a vehicle is a cheap, fast, and easy way to grow your dealership sales and profit. Nothing convinces consumers to buy something more than someone referring them to the product. Having a number of positive online reviews gives your dealership a great reputation.
Where EasyCars can help?
EasyCars is an all-in-one dealer management system that simplifies and automates the everyday tasks of running a motor dealership. Using the latest technologies, EasyCars eliminates frustrations and reduces time-wasting administration tasks to make business more efficient and streamlined today. With complete automation of stock management, advertising, integrated accounting, online review management and access to free advertisers, EasyCars is a no brainer solution for today’s motor dealer.
Get started in 10 minutes or less. Submit the form below for a FREE no-obligation demo of EasyCars.