Working the Drive 201: How to Maximize Service-to-Sales Revenue

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Amid ongoing inventory shortages, the service drive is offering dealerships numerous revenue generating opportunities ranging from service tickets to customer retention. But to truly maximize this growing opportunity, dealers need a data- driven approach to identifying and engaging the customers who will not only need service, but also who present a strong inventory acquisition or future- sale opportunity. In this whitepaper, we'll explore the steps dealers need to take to maximize their service-to-sales revenue and operations including: • Building a data-driven approach • Successfully managing your service- to-sales operations • Effectively mining the service drive for opportunities B U I L D I N G A DATA-DRIVEN STRATEGY Remember: There is no one-size-fits-all approach to developing a service marketing or service- to-sales strategy. Before you begin developing a process that works for your dealership, it's important to assess your current process and identify areas for potential improvement. Every factor may not apply to your dealership, but start by asking: • How many service drive RO's are you doing per month? • How many people needed to support selling in the drive? • What is your current market share? • What service conquest marketing are you doing today? • What is your service conquest marketing ROI goal? • What are your YoY dealer and brand loyalty sales growth goals? For your service team to effectively work the drive, your strategy and process needs buy-in from the rest of your dealership, including sales and F&I. Look for any gaps in your current process by assessing: • Can your team currently identify a great sales prospect in the service drive? • What's their process for finding out? • How much does your team know about that customer? Would they know what to say to them – or what a good offer looks like for them? • What tools are you providing them to increase their knowledge and understanding of the customer? W O R K I N G T H E D R I V E 2 0 1 : How to Maximize Service-to-Sales Revenue IHS Markit, June 2021 The auto industry is entering a period of strong growth in theaftermarket "sweet spot" – vehicles 6-11 years of age.

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