Watching Wall Street More Than Your Street?

It’s not hard to get mesmerized by all of the financial ramblings going on out East.  The bailout, the impact, the feedback and the typical deluge of uninformed commentary and guessing.  Not too different from what happens on car lots every day…plenty of uninformed consumers and guessing sales people.

Whether or not the market has been shored up, what are we doing to shore up our business?  It’s clear that you can’t spend $1M a month when you gross $500k revenue-wise.  By the same token, the start of your business disappearing is when the marketing, retention and engagement aspects start disappearing.

Our job as the ‘Internet Cowboys’ (and cowgirls) of the auto business is to be that lifeline and outreach when, gosh darn it, people stop just showing up at our showrooms.  It’s time to ring the statistics bell quickly: about 80-90% of car buyers start their research and purchase process online.  You’ve been hearing it for a while now.

You must use every tool, piece of software, hardware and beautiful, inviting tidbit of marketing to get a customer to your door.  You have to become better than you were when the industry was (fill in the blank) percent higher than it is now.  Don’t forget who is in full control of the sale until it is relinquished to the customer.  Give people permission to buy a car, they want to do so.  Folks, we’re not rocket scientists and brain surgeons (although over the last few years, dealerships have been filled with more out-of-the-industry professionals  than ever before).

Think about it this way: one four-letter word (WORK) translates into another one (CASH).  If you are looking for some quick dollars and the golf-all-day lifestyle, stand in line for your state’s lottery or, better yet, try to get in with Warren Buffet as he seems to be buying (by the way naysayers: he hasn’t stopped buying).

Somewhere along the line over the past decades, we forgot that the car business was a relationship-based business.  Using a CRM does not mean, for a minute, that you are building relationships.  Actually in many cases it means that everyone with a log in to your CRM can see the mediocre job that’s being done.

Today I was talking with a salesperson at a client when another walked into the immediate area.  He stated that October was going to ‘suck’ again and I proceeded to tell him that is exactly what will happen…for him.  As for the salesperson I was originally talking with, we’ll see.

Folks, water finds its own level.  Are you expecting to sink or swim at the end of the month?

Best practices: Professional Insight, Powerful Results

Leave a Reply

Your email address will not be published. Required fields are marked *

Time limit is exhausted. Please reload the CAPTCHA.