5 Ways Dealer Management Software Can Boost Your Bottom Line
Let technology be your guiding light.
Your dealership likely boasts a talented sales staff, state-of-the-art showroom, skilled service technicians and elite brands of vehicles. Yet something can still be missing, preventing you from maximizing revenue generation. By not capitalizing on dealer management software, your dealership operates like a professional chef hamstrung by not having a key ingredient like flour or salt as he attempts to prepare culinary masterpieces.
A best-in-class dealer management software like Performance Administration‘s MaintenanceProgram.com not only provides high-level performance reporting to inform general managers regarding whether their dealer-owned complimentary maintenance program is succeeding, but it also offers tools for bolstering customer retention. It’s “one-stop-shop” functionality extends from coordinating service reminders to tracking defected customers to monitoring revenue projections.
Before you put on your chef’s hat and enter the kitchen, make sure you have all the necessary cooking ingredients at your disposal. Here are five ways dealer management software proves a necessity for your automotive dealership, capable of boosting your customer retention rate and, in turn, your bottom-line results:
1. Customer Relationship Management
No matter how strong of a memory you possess, you need some assistance when it comes to tracking the comings and goings of your ever-increasing customer base. The right dealer management software program stores all relevant customer data —from last visit date to contact information to call log —affording your dealership quick status checks and easy follow-up interaction. If improving customer retention rate represents a primary objective for your dealership, then there’s no need to ever be in the dark regarding the purchasing and visitation habits of a valuable customer.
2. General Management Tools
When you’re in charge, the buck stops with you. Having constant access to all pertinent dealership operational and financial data proves vital to making informed decisions. Real-time Dealer Performance Reports™ from Performance Administration provide your general management team an extensive, up-to-the-minute overview of all necessary dealership data. Business and administrative reports detail retention growth, service income, and profitability projections, among other measurements, ensuring you always know where your dealership stands.
3. Customer Repurchase Reports
How many car-buying customers repurchase from your dealership? If this information isn’t readily available to you, then let dealer management software fill this data void. The right program provides detailed analysis regarding your complimentary maintenance program, offering a clear view of your customer retention rate and of which customers are returning to your dealership for their next purchase. With accurate vehicle repurchase information always at your fingertips, you can strive to boost retention and ensure return buyers are truly worth their weight in gold.
4. Service Department Tools
The benefits of effective dealer management software affords your service department are simply numerous. With the proper program, your service team can easily post claims online, track customer service history, send timely service reminders and protect your dealership from maintenance fraud by tracking customer coupons so duplicates can’t be redeemed. The maintenance needs of a modern vehicle can prove complicated —why not ensure everything surrounding your service department’s core task is simplified?
5. Customer Defection Strategies
We always think about the ones that got away. But rather than lament what was lost, dealer management software positions you to regain those former customers who have fallen by the wayside. Performance Administration’s Lost Opportunity Transformer™empowers your dealership to achieve transparency regarding which customers have and haven’t returned for service. When you can target lost customers and incentivize them to return to your dealership, you’re establishing a formula for longterm success with customer retention.
Looking for customer retention software to take your dealership to the next level of profitability? Download our eBook to take an in-depth look at6 Success Tools and Strategiesour dealers use to identify and win-back 34+% of Lost Opportunity Customers and more than double CP/RO counts in the first 12 months.