The word “innovation” gets thrown around a lot when we talk about dealers who manage to stay ahead of the curve year after year, even as the industry continues to change around them. But it gets repeated so often that I fear we might be losing sight of what innovation actually is and why it has value for the dealership in the first place. What innovation is not is simply … [Read more...] about Declined Service Work or Targeted Marketing Opportunity?
Refining your marketing strategies heading into the new year sets you up for success in 2020 and beyond. The New Year is an exciting time at a dealership—new models, incentives and updated sales benchmarks. Often, in the hustle and bustle of the holiday season and new year, it can be tempting to rinse and repeat marketing strategies. But, with those new models and incentives, … [Read more...] about Three Steps to Level up Marketing Strategies in 2020
A while back, my teammates looked into performance reports from various vendors and agencies, trying to assess the industry standard. I’d love to say we were surprised by the amount of vanity metrics used by some agencies, but truth be told - it’s becoming more and more common to embellish reports with meaningless statistics, or manipulate data to imply positive results, … [Read more...] about The Art of Detecting Manipulations in Marketing Reports
The internet and social media have created a society of consumers who expect information immediately at any time of day or night. In an always-connected world, information is so readily available that our expectation of instant satisfaction has spilled over to our interactions with businesses. Customers just won’t wait for a response. Even dealerships with seemingly long … [Read more...] about How AI and Intelligent Messaging Help Dealers Increase Sales and Service Revenue
The question of what is the true cost of a lead can be answered by different people in many different ways, but here we’re going to use the Conversica answer. We like to look at the lead cost as what we refer to of as an effective lead rate. There are a few factors that go in an effective lead rate: the number of leads, the engagement rate, and the per-lead … [Read more...] about What Is the True Price of a Lead?