Having a plan for how your dealership is going to grow is vital to actually driving growth. Don’t get me wrong; you can still grow without having a plan, but it’s going to be at the whim of the market.
Wouldn’t you rather have a plan in place that lets you grow in times when the market isn’t booming, or be able to have data so you can tell what’s not working for your dealership so you can fix it? You want to make sure that you can continue getting new insights for new results so you know where to spend your money and get the most return.
Here’s a plan that will help you get a grip on the growth (or lack thereof) in your dealership. This focuses on 4 main areas: people, processes, technology/tools, and metrics. Combining each of these together will help you manage and control the growth of your dealership, better preparing you for the future ups and downs in the industry.
Before setting anything else up, you want to make sure that you have the right people in place to execute your plan. Along with that, make sure you have the right number of people too. Don’t hit the basketball court with 3 people playing, you need the full team.
People can’t help drive growth if they don’t have an organized process and place to work. This includes an organized CRM. This helps your sales representatives respond more efficiently to customers, growing your dealership’s sales.
Every type of inbound lead needs its own defined process. Each source of leads brings a different customer with different expectations, and you want to make sure that you’re addressing those differences in your lead handling process.
All of these processes need to be documented as well. By documenting the processes, your employees will know exactly what to do in every situation, eliminating bad habits or miscommunication. Everyone should have access to the documents, and they should be consistently followed.
Your CRM is an invaluable tool, so make sure that you are using it to its full extent. Know the capabilities of your CRM and push it as much as you possibly can. You’ll be surprised at what it can accomplish. You should also encourage your team to do the same thing.
Make sure that your tools are working together. Your CRM and your dealership systems should be working together and integrating as much as possible. If the two don’t play along well, then you need a process that will transfer necessary things as smoothly and consistently as possible.
To truly push your growth, you have to measure what you’re doing and apply the results of the data. Most CRMs have a reports function that gives you great information about how well your company is functioning.
Look at where you’re succeeding and failing when it comes to handling your leads. Both places will help you see how you can change to improve, and it’s important to know both areas for your dealership. Single Grain recommends looking at your clickthrough rates, conversion rates, ROI, and cost per lead (among other things) to get a good grip on where your dealership stands.