3 Ways to Drive Dealership Profitability Through the Service Drive

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800.801.0018 | info@automotiveMastermind.com ©2020 automotiveMastermind®. All rights reserved. | A business unit of IHS Markit™ REQUEST A DEMO: automotiveMastermind.com Sales and service departments should constantly work together to ensure there are no missed opportunities. This is not only crucial for improving your service-to-sales process. Service-not-sold sales are critical to homegrown inventory management, as well. Analyze your process and identify opportunities to better connect fixed operations and variable sales efforts: • Is each department aware of which vehicles are in- demand and able to identify high-value acquisitions? • Does your service department have access to sales and inventory data, including your dealership's CRM and DMS, and can identify which customers are most likely to respond to a trade-in offer? • Can your team easily analyze vehicle history reports from the service drive to more accurately predict reconditioning costs before acquiring a vehicle through trade-in? Improve Customer Loyalty to Drive Long-Term Profitability Delivering an excellent experience in the service drive benefits a dealership's bottom line beyond producing more revenue on every ticket. Whether owners purchased at a competitor or at your dealership, long-term loyalty is often built in the service drive. In fact, research by Google found the No. 2 influence on brand loyalty (after their sales experience) is a buyer's service and maintenance experience. In this way, improving loyalty by delivering an exceptional CX in the service drive is one of the most effective ways to drive long-term dealership profitability. With wait times and high costs being common customer complaints, audit your process to ensure your service department is operating as efficiently as possible. Look for opportunities to meet evolving buying expectations, including expanded offerings such as vehicle pick-up and drop-off or video consultations with service managers. Ultimately, this approach not only improves the CX in the service drive, but it also paves the way for long-term profitability and future purchases through improved retention. To learn more about how Market EyeQ empowers dealerships to proactively identify and convert auto sales leads and increase sales profitability, contact us for a free demo. 70% OF CUSTOMERS who bought or leased a vehicle from a franchised dealership did not return back for service in the past year. COX AUTOMOTIVE, 2018

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