Items Tagged with 'dealership metrics'

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Achieving Peak Performance

Forget New Customers

Focus instead on engaging with your existing ones.
Over the last few months, I have attended and spoken at six national dealer meetings for various manufacturers. I can say without a doubt that the common thread that ran through those meetings was the importance of attracting new customers and working hard to make those customers both excited and satisfied. That means getting them excited about the product they invested in, whether it be a tractor, UTV or lawnmower, and making sure they are satisfied with the experience they had, both the people and the purchasing process.
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BClements.png
Achieving Peak Performance

Forget New Customers

Focus instead on engaging with your existing ones.
Over the last few months, I have attended and spoken at six national dealer meetings for various manufacturers. I can say without a doubt that the common thread that ran through those meetings was the importance of attracting new customers and working hard to make those customers both excited and satisfied. That means getting them excited about the product they invested in, whether it be a tractor, UTV or lawnmower, and making sure they are satisfied with the experience they had, both the people and the purchasing process.
Read More
Achieving Peak Performance

Keeping Your Sales Funnel Full

Know how many customers you need to engage with to meet your sales goals.
The nice thing about working in a dealership is that just about everything that happens has a number associated with it. This allows you to measure and determine how each department or employee is performing. For example, in the service department, we look at recovery and service technician efficiency. In the parts department, we look at profit margins, fill rates, transaction times and transaction values. And in the sales department, we focus on profit margins, transaction values, closing ratios and sales funnels.
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Achieving Peak Performance: Checking the Health of Each Department

Three simple numbers can help you quickly gauge performance.
Long before technology was available to detect lethal gases in coal mines, miners carried canaries into the mines with them to act as an early warning system. If the canary died, it meant the gas levels had risen to where the miners’ lives were in danger and it was time to evacuate. While we don’t actually use canaries in our dealerships to alert us of potential issues, we do have three simple numbers that warn us of impending doom.
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