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Posts with leads tag.
Cutting To Save Costs Can Cost You Greatly, So What’s Next?

It's so much a part of business today: cost cutting, staff reductions, marketing cancellations, disappearing perks. Even companies that are profitable and efficient are not exempt from the slashing and hacking (that makes sense, right? right?). Needed? Absolutely! Done right? No way! What can you honestly expect when you're name (and more) is not out there?

There's no point in kicking a dead horse: it's bad out there and those that watch conventional media just make it worse by believing what the masses do. But ignoring opportunities and not INVESTING in your future is just as bad as picking up a dime after stepping over a $100 bill. Cost cutting is not an exercise as many people profess, it's simply a knee-jerk activity. One in which you'll disappear. If you want to run through exercises and get wiser, more nimble and learn, then be smart!

Many activities related to online reputation, brand equity, lead generation, customer relation management and more are…wait for it…free! But alas, you must work at it (as discussed in today's Dealer.com 1st Party Lead Webinar, thank you Alex Snyder). Hearing "I can't afford to have my staff doing that online stuff" gives me more indigestion than eating that 72oz steak down at Big Texan!! Folks, what is your strategy? If you cut off blood and oxygen to the brain, what happens?

If you are part of the pointless cost cutting brigade today, how are you going to correctly ramp back up? What are your benchmarks? Consumer confidence, bank lending, 20% lift in units? Please! Strategy, planning, analytics, indicators and some intuition thrown in for good measure should do it along with a good long look at the competition.

If you don't have a game plan, how do you know when the 'cuts' are done? You can't, you don't and you won't. Be proactive. Be thoughtful. Be interactive. Most of all, be timely, accurate and relevant. People want to know you're around and in business.

You may have turned off the car wash and done away with the donuts and muffins but what do you still offer? Think about what's next and think about success (no matter how hard). There are some great opportunities out there just as long as you're willing to do them, putting your effort, thoughts and money behind them.

Best practices: Professional Insight, Powerful Results

April 28, 2009 by Gary May 0
Webinar: Industry experts REVEAL THE POWER of 1st Party Leads

 

Dealer.com_Webinar_Main

FREE WEBINAR

By now you understand the capabilities (and limitations) of 3rd
party leads. But have you heard of 1st party leads? Join our
interactive webinar and learn how generate the highest quality leads
directly from your website.

What You Will Learn:

1st party leads close at a higher rate with higher profits

Not all leads are created equally

How to harness the power of your website to generate higher quality leads

How to implement a first party lead strategy at your dealership

When:
Tuesday, April 28, 2009
2:00 PM – 3:30 PM EDT (11:00 AM – 12:30 PM PDT)

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April 27, 2009 by Gary May 0
Webinar: Stimulating Profits: Used Cars Drive Sales Success in 2009

Dealer_Advantage_Image

Industry Roundtable Discussion With:

  • Mitch Golub, president, Cars.com
  • Art Spinella, president, CNW Marketing
  • Paul Taylor, chief economist, NADA

With
sales of used cars expected to return to 40 million-plus units in 2009,
used-car sales stand out as a bright spot in automotive retail. For
consumers concerned about their purse strings and possible job losses,
buying a pre-owned car allows them to get the vehicle they need and
maintain their peace of mind. This webinar examines the current outlook
for the year ahead and outlines the practical steps dealers must take
to survive and even thrive in this changing economy.

In this session, you’ll learn how to:

  • Fine-tune your advertising strategy and media mix to reach in-market shoppers.
  • Capitalize on economic uncertainty and pent-up demand to drive more used-car sales.
  • Stock your store with in-demand cars that turn quickly and hold gross.
  • Leverage third-party vehicle history reports and factory certification programs to build buyer confidence in your listings.

Thursday, April 9, Noon ET/9:00AM PT

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March 20, 2009 by Gary May 2
Res Firma Mitescere Nescit…And How To Keep It Up

If you've seen the movie, you know the line. It's not earth shattering, but it was more than a decent movie. American Flyers came out in post-LA Olympic 1985 and starred Kevin Costner (very pre-Waterworld), David Grant (as his younger brother), Jennifer Grey (Dirty Dancing), Rae Dawn Chong (yes, Tommy Chong's daughter), Alexandra Paul (Baywatch), John Amos, Robert Townsend (plenty of star power there) and an otherwise strong cast.

When the brothers walk into the sports institute, the character played by John Amos (who heads the facility) reads the slogan hanging up above the various people working out "Res Firma Mitascre Nescit". David asks him what it means and he loudly proclaims "Once you've got it up…keep it up!" and then proceeds to yell at the contingent of sweating people "Right?!!" to which they all reply "Right!!".

While the movie has nothing to do with car sales, it has everything do to with perspective, attitude and belief. In regularly spending time with dealers, it amazes me how many salespeople don't keep a sharp mind and eye, let alone know the fundamentals of process and success. Sometimes I'll randomly select a salesperson and ask about their goal setting. Invariably we'll sit down and the first real question they're typically asked is "how much do you want to make?". Once they (sheepishly) reply, the very next question is "how many sales does that take you and how many leads to you usually need to work to get there?". You can guess the answer 99% of the time.

Successful people always find a way to keep it up. Sure, down times happen and you might even catch a leader in a true slump. I've been in weekly sales meetings where the store is down and the top unit (and usually gross) performer is upset with their sales performance even though they are still in the lead. Like clockwork, a person with significantly less to talk about will pipe up, usually with "I'll take those sales any day".

See, the thing is that goal setters hold themselves more responsible than any sales or general manager ever will. They have an idea of what they need to do in February come January 28. They don't need to be pushed into reality on February 21 when they're on the bubble at 3-5 units. Most of them will also have daily goals and tasks that they make sure are complete before they leave as well as writing down the next day's activities.

If you're in a sales tailspin or simply finish 2 or 3 units down from where you want regularly, there are a few things that you can do that will likely get you, well…up!

  1. Work your leads as if they'll close within 72 hours (create action and excitement)
  2. Regularly and effectively touch base with your clients (yes, on top of the 'stuff' the store sends)
  3. Set, adjust and maintain daily, weekly and monthly goals (copy management for accountability)
  4. Track everything you do. It's a pain…do it (don't resort to memory, even if you're 25)
  5. Educate and refresh yourself on products and services (do your own walkarounds if you need)
  6. Eliminate habits and poor performance activities, period (listen to motivational CDs or read)

A few of my contacts have even gone as far as paying for software and/or services out of their own pocket since the dealership won't pay for them, but they know that having them is one of their keys to success. Not letting anything stop you from reaching your goals is what successful people do every day!

Remember that when you're not learning, you're dying. Don't let your thunder be stolen by circumstance, a boss, a coworker, a client or the media. Make sure you can easily identify what you expect to happen every month and take the steps to ensure you're on the cause side of the equation. Oh, and once you've got it up…KEEP IT UP!

Best practices: Professional Insight, Powerful Results

January 6, 2009 by Gary May 0
The Chicken Or The Egg? No…The Chicken AND The Egg

When you don't make one, someone makes one for you. If you make one too early, you may regret it.  It's the lifeline, the conduit, the facilitator and the support system making making things work: decisions. We are making decisions constantly in business. But are our decisions the right ones?

While this is not meant to second guess (or cause you to, slowing your business), this idea was put here to make you understand that decisions are based on options. Too often we hear expressions like "I had no decision" or "It's too hard to make a decision right now". If you are in business or your work for someone's business, it is your job to make decisions from a complete understanding of the options.

Now, not everyone has the time to completely research every option (I hear that from dealer principals and management regularly) and that is fair. But when opportunity knocks loudly and clearly, how you can not make a decision is one of the greatest mysteries in not just the auto industry, but any industry that is sales-related. No time to take meetings these days? Won't entertain vendors, sales reps and consultants? Watch the light at the end of the tunnel fade completely out.

When you lead, you get to take the advantage of time, less competition, more opportunity and other great benefits. There is also more risk but let's not forget why you're in business in the first place. Dealers that didn't ignore the Internet got a decent start.  Those who not only jumped on but got educated and leveraged web-based CRM, online marketing, SEO, SEM and other technology are, more often than not, reaping the benefits and mitigating their losses right now (unfortunately those who suffer from buy-it-and-dont-use-it-or-understand-it-itis don't qualify).

Now is the time to take the bull by the horns. Stop waiting, stop following. Start being part of the solution, the decision, the opportunity, the what's next! And guess what?

You get to have the chicken AND the egg…

Best practices: Professional Insight, Powerful Results

December 5, 2008 by Gary May 0
You Know Something Your GM Doesn’t

No matter how you slice this one, it's not good. See, stores may build results and get things done bottom up. But unless things changed since the close of business yesterday, your store is managed top down. And the fact that you know things that your GM doesn't won't allow you to get far or make as much as you can.

While information is power, a powerful engine that's not started can't get you anywhere. Most stores operate today without the proper information at the management level, especially in regards to Internet department/lead management operation. It is in  your best interest to make sure management knows what's going on. And yes, while it is their responsibility to understand, it's your responsibility to inform.

While it is so easy to claim that you're too busy, can't get the time, don't see eye-to-eye and a hoard of other excuses to not getting real face time, you have to spend time with the top dog at the dealership. A few things that may pay great dividends in the 'support the Internet cause' meetings you have include:

    1. Performance snapshot
        – lead performance, website issues, vendor status, training and resource needs
    2. Marketplace issues
        – competitive forces, blind shop results, guest feedback (which means actually ask questions)
    3. Opportunities
        – Technology, new services/vendors, SEO improvements, competition asleep at the wheel

And the best way to do this (at least weekly) meeting is to come prepared. Not complaints without possible solutions, whining that you 'just can't do more', defensive stances or typical non-productive time. You have to know what's happening, show that you're acting in the best interest of your store, show him/her the 'win-win' and have a Plan B in the event that you don't get what you ask for.

Be careful not to guarantee a bunch more sales if they "spend just a little more each month". News flash: every GM has been through that. Look to create buy-in by leading your GM to water, making things their idea (you don't care about credit as much as you do the paycheck!), demonstrating a solid business case and talking about value, advantages and benefits that should result.  If you don't think you can pull it off, here's a hint: bring in a consultant for one day. (psst: it's worth it!)

Make sure your management, especially your GM (or owner if you have the Bat-Line) knows what is happening in the Internet department…you know, it's that 'trend' in your store that is just going to disappear over the next 3-6 months…right???

Best practices: Professional Insight, Powerful Results

November 26, 2008 by Gary May 0