July 10 2019 - Although car dealers have been one of the most successful businesses to be in for many
decades, it seems that there are now obstacles to overcome that weren't always there, meaning it's far harder to earn a living.
The demands on car dealers are becoming much more pressurising and are forced to deal with aspects such as increased interest
rates, delivering even better customer service and cutting prices to tie in with trends in the market. As a result, staying
relevant as a car dealership has never been more critical right now.
Due to these shifts which are seemingly becoming more and more evident in the world of car dealerships, what
can you do to stay relevant?
If you've been in the car industry for years, one of the most important things you can do to stay relevant is
to embrace change and accept other people's opinions for development. If you have young employees working for you, ask how they
would target younger customers. You may also like to talk to a professional consultancy service such as
WhiteTEC who will
improve your business expertise and give you new tips on growing your business and attracting new customers. All of this will
require some degree of learning to be more flexible and step out of your comfort zone.
Understand what the customer wants
Your customers are the heart and soul of your business, so you need to be sure their best interests are at the
centre of your strategies. It goes without saying that customer demands have dramatically changed over the last few years or
so, and there is a clear focus on getting the service they desire. Instant communication, for example, is now becoming the
norm as businesses communicate with customers through online chat platforms. There is also the pressure of
offering rewards for returning customers as a goodwill gesture. Carefully consider what it will take to deliver the best possible customer
service, and you will always be one step ahead of your competition.
Analyse your pricing
Try and evaluate your pricing to stay relevant to your customer base. While customers may use car comparison
sites to compare costs of particular makes and models, it's just as useful for dealers to browse through and
price their vehicles accurately. As most people shop online to find the best available price, you need to be sure you fit in with the
average pricing brackets.
Choose your stock wisely
While the price is important for securing deals, people are also on the lookout for desirable makes and models,
which is why you need to manage which stock you purchase. If you notice that particular vehicles aren'ít selling after a few
months, you may need to reconsider the stock you're investing in. To get an idea of what your customer base is most interested
in, keep a check of your records to see which vehicles have tallied up to be your best sellers. This will ensure your stock is
more relevant to your customers and of course, will enhance your chances of making a profit.