If we’re talking numbers and CRM ROI in the automotive market we need to take into consideration the vastly different application of this solution. In traditional B2B or B2C markets a CRM package is used via a front of house sales, a marketing team or both. In the case of a dealership, automotive CRM must be used across front and back of house to gain advantage of the 1, 2, 5, 10, or 40 per cent improvements available.
The First Truth of Automotive CRM ROI
People Buy from People
2014 research shows buyers in Australia and New Zealand will travel inconvenient distances to buy or service their vehicle because they ‘trust’ or ‘like’ the person they’re dealing with. Simply put buyers in this market don’t buy from businesses, they buy from the people within them. Automotive CRM if executed well should amplify this relationship for all the people who represent a Dealer Principals site.
In short, CRM ROI, numbers aside, is relationship building.
Collect Data and Turn it into Relationships
Automating communication based on smart buying cycles can build a great foundation for future relationships. Understanding a particular buying group will consider purchasing a new vehicle on average every 4 years presents an automotive CRM opportunity. Personalised automated communication on finance options & new models can be presented as helpful information from a knowledgeable source rather than bulk mail sent because there is a new model release. This type of communication builds relationships which in turn give a dealerships better F & I penetration, a reduction in lost leads and greater service retention.
The truth about CRM ROI is that it’s transparent, any savvy Dealer Principal , Fixed Operations Manager, Finance and Insurance Managers or Sales Manager knows their numbers, so seeing a difference in them is clear. CRM ROI by definition is the transactional growth that can be seen across some or all elements of an automotive dealership.
The Second Truth of Automotive CRM ROI
Each Site within a Dealership Group Has Different Strengths
Pentana Solutions is a big believer in CRM, we understand from our experience with dealership clients that any one site can be vastly different from the next. Franchise and physical footprint aside each and every dealership site has different strengths and weaknesses.
A CRM solution will address weaknesses but a great automotive CRM solution will bring all the parts of a dealership to a level of peak performance. This however, doesn’t happen by magic, it does require some set up and maintenance as any business tool does. When selecting an automotive CRM solution geared for maximum ROI (with a good set of features for the showroom and fixed operations department) you need to also think about the partner who will guide you through the process. Pentana Solutions know the automotive industry and they know DealerSocket is a great fit for the industry.
With all of this said, we start all our CRM consultation pieces with your numbers and your team. This ensures the your individual dealership can be considered on its own values and ratios across all of your revenue building departments.
The Third Truth of Automotive CRM ROI
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This one is all about your dealership. What exactly is your CRM ROI?
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