automotiveMastermind

  • How to Improve the Efficiency of Your Dealership’s Digital Retailing Processes

    How to Improve the Efficiency of Your Dealership’s Digital Retailing Processes

    In the current competitive landscape, if your dealership is ill-prepared to deliver an efficient, user-friendly digital retail experience, you risk watching from the sidelines soon.

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  • Best Practices for Building a Digitally Savvy Dealership Team

    Best Practices for Building a Digitally Savvy Dealership Team

    To continue advancing into a digital dealership model in the new year, dealers need to ensure they have both the right tools and the team to succeed in today’s increasingly digital market.

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  • 3 Ways to Strategize for Dealership Success in 2021

    3 Ways to Strategize for Dealership Success in 2021

    With 2020 behind us, dealership leaders are entering the new year with many important lessons learned on pivoting and keeping their businesses moving forward despite industry disruption.

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  • 3 Ways to Maximize Service-to-Sales Profitability

    3 Ways to Maximize Service-to-Sales Profitability

    With sales revenue down, for many dealers, the service drive became a key component to survival. In this blog post, we share 3 ways to maximize service-to-sales profitability at your dealership.

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  • Adapting to 2021 Inventory Challenges

    Adapting to 2021 Inventory Challenges

    In this blog post, we explore three ways creative dealerships can adapt to 2021 inventory challenges.

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  • 3 Digital Retailing Best Practices for Dealerships

    3 Digital Retailing Best Practices for Dealerships

    Consumers are turning to digital platforms at nearly every step of their buying journey, taking virtual test drives, purchasing and even scheduling service for their vehicles.

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  • State of the Automotive Finance Market: 2021 Outlook and Trends

    State of the Automotive Finance Market: 2021 Outlook and Trends

    Opportunities exist inside the dealership in 2021 – including in the F&I office. In this blog post, we analyze the state of automotive finance market.

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  • How Dealers Can Ditch Third-Party Auto Leads

    How Dealers Can Ditch Third-Party Auto Leads

    Many proactive dealers are turning away from expensive third-party auto lead providers and either reallocating the funds or simply cutting budgets for lead generation.

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  • Virtual Dealership Events: The Silver Lining in Auto Industry Events

    Virtual Dealership Events: The Silver Lining in Auto Industry Events

    With continuing COVID-19 safety procedures & guidelines, virtual events and experiences have surged in popularity in 2020. Trade shows and annual conferences have all switched to digital experiences.

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  • How Auto Dealers are Preparing for the Future of the Automotive Industry

    How Auto Dealers are Preparing for the Future of the Automotive Industry

    No dealership leader could have anticipated the events seen in 2020 – much less prepare for the challenges they would face as a result. However, the auto retail industry is proving resilient.

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  • 3 Best Practices for Service Drive Prospect Acquisitions

    3 Best Practices for Service Drive Prospect Acquisitions

    It’s rare to find a dealership completely unaware of the value of their service drive. Parts and service sales currently account for 12.5% of new vehicle dealership’s total sales.

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  • Data Mining 101: Why Dealerships Need to Go Beyond Traditional Equity Mining

    Data Mining 101: Why Dealerships Need to Go Beyond Traditional Equity Mining

    Today, data mining powers many conveniences and capabilities we often take for granted, ranging from email spam filters and credit card fraud alerts to personalized suggestions from Amazon or Netflix.

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  • How Predictive Analytics are Impacting OEMs and Dealerships

    How Predictive Analytics are Impacting OEMs and Dealerships

    From an automotive retail perspective, dealers can use predictive tools to inform decisions related to inventory, merchandising, pricing and more, resulting in improved efficiency and efficacy.

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  • 3 Tips to Coach Dealership Leaders for the New Normal

    3 Tips to Coach Dealership Leaders for the New Normal

    It’s long been the responsibility of dealers to identify and grow today’s automotive retail professionals into the dealership leaders of tomorrow. This preparation starts with effective coaching.

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  • How to Maximize Dealership Profitability With a Homegrown Inventory

    How to Maximize Dealership Profitability With a Homegrown Inventory

    Faced with tightening margins, low vehicle inventories and a narrowing opportunity to rebound in 2020, auto dealers are looking for additional ways to maximize dealership profitability.

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  • How to Prepare the Next Generation of Car Dealership Leaders

    How to Prepare the Next Generation of Car Dealership Leaders

    The composition of dealership teams around the U.S. is changing – and getting younger. A 2019 industry study found that by 2020, Gen Z were expected to make up 20% of the dealership workforce.

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  • Mastermind Gives Back – and Continues Looking Forward

    Mastermind Gives Back – and Continues Looking Forward

    At Mastermind, it’s part of our company culture to go the extra mile to support our dealer partners, our communities and each other – no matter what.

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  • 4 Best Practices to Engage Auto Sales Leads

    4 Best Practices to Engage Auto Sales Leads

    Dealership best practices for engaging auto sales leads have evolved over the years to keep pace with changing automotive consumer preferences and marketplace conditions.

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  • 3 Best Practices for Pre-Owned Car Dealerships

    3 Best Practices for Pre-Owned Car Dealerships

    Dealers have seen their business model suddenly shift to being predominantly pre-owned, to the point where IHS Markit research found that in May 2020, there were 3 used vehicles sold for ever new one.

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  • How to Improve Auto Dealership Efficiencies With Digital Tools

    How to Improve Auto Dealership Efficiencies With Digital Tools

    With razor-thin margins and cutthroat competition, dealers know they can’t afford to allow inefficiencies to build up in their operations if they want to protect and grow their bottom line.

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