Your Training Partner...
Hembrough Business Systems
THE SITE WILL BE FINISHED AND UPLOADED FRIDAY NOV. 2
IN THE MEANTIME - VISIT:
BLOG SITE: SCOTTHEMBROUGH.NET
LINKEDIN - SCOTT HEMBROUGH HAS LOTS OF ARTICLES AND REFERENCES
OR CALL ME - 815-978-5038
DEALERSHIP PROFITS IN 2019
CONSIDER THE FOLLOWING
New car profit margins have slipped from 4.5% down to 2.5% in the past 5 years.
Used car Profit Margins have slipped from 14% down to 11% in the past 5 years.
During the same time span Service & Parts margins have maintained a 46% Profit Margin.
AND - most current NADA statistics - avg. dealer has only a 56% absorption factor
AND - most current NADA statistics - avg. dealer has a Retention Rate less than 30%
So the real question is - what are you going to do about this?
Service Department Updating
"Well trained Service Advisors increase service profits, increase C.S.I., increase Owner Retention and most importantly sell more vehicles for you."
"I have met many many service advisors that want to be more successful, they have just never been trained to handle the New Buyer we are dealing with today."
"I'm on record as saying we are in the midst of seeing more changes in the next five years that we've seen in the past 50 years." - Mary Barra - CEO General Motors
"Better educated service employees reduces turnover and makes hiring new technicians much easier."
"Better Educated and Trained service employees INCREASES Retention for your dealership - RETENTION IS THE HOLY GRAIL."
CLICK HERE TO CALCULATE HOW MUCH MONEY YOU ARE LEAVING ON THE TABLE WITH YOUR CURRENT RETENTION RATE.
Question: "How much has the Internet and the Digital world changed in dealerships in the past 5 Years?"
Question: "How good at you at the Digital Analytics?"
Question: "How much has your Road To The Sale been updated to handle the Today Buyer?
The Internet and the whole department has been a "Race to Change". Yor processes, your templates, your training, your accountability, all of these things are changing at Lighting Speed and how well are you keeping up?
In my experience of working with dealerships and their Internet departments is this is the new Showroom, the new means of creating floor traffic - BUT - everything impacts everything else. Don't have pricing right, scripts are
irrellvent. You don't have all the rebates calculated and passed onto people handling in-coming calls you are missing opportunities. You don't have the proper ACCOUNTABILITY in place, you are missing income opportunities.
BDC / CDC
I installed my very first CDC, then later to be called a BDC, in the early 90's. Over the years it has changed tremendously and is continueing it's changes as we move forward. At first it was all scripts, "smile and dial", "just get em in",
but that has changed. We are dealing with an INFORMED buyer, when they call or submit a text or am email - they want answers, they want transparency, they want to be educated, THEY WANT SOMEONE THEY CAN
TRUST.They do not want a salesperson, "how soon can you come in?"
We are dealing with this better educated buyer, they know technology and they want someone on the other end of the communication that is a professional. National averages on Phone-Ups is in the range of a 12-15% delivery ratio.
A real qualified professional in this position delivers in the 40-50% range. How much would that be worht to your dealership?
Tieing it all together
For years I followed every other trainers way of doing business, 2-days here, - 3-days here and so on. But as soon as I left, things slarted slipping, going back to the "old way", the ways they were comfortable with.