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    • Easycare: The importance of benchmarking your reinsurance performance
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    • Spectrum Reach: Use data and the power of multiscreen TV to drive more traffic
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    • Truist: Prepare now for the next era of automotive retailing
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Boost sales and profit by adopting tactics of forward-thinking dealers

Sponsored Content From Cox Automotive
This content was paid for by an advertiser and produced by the Automotive News Content Studio.
May 15, 2023 08:00 AM
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    All dealers think about the future of their business, but some demonstrate more readiness than others. The true forward-thinking dealers are those using data and technology to advance their operations in ways that are already paying off today.

    In fact, forward-thinking dealers employ specific tactics across their marketing, inventory management, service, and sales operations that set them apart from other ‘static’ and ‘modern’ dealers. And they’re planning to invest more in certain capabilities to drive more growth over the coming years.

    Here are a few key priorities of forward-thinking dealerships to consider as you plan your path to a more profitable future.

    Leverage Consumer Data to Appeal to Buyers

    No two customers, nor their buying journeys, are alike. Everyone has their own unique buying preferences, opinions, and interests. Forward-thinking dealers recognize the sooner you can key into this individuality and understand your customers’ distinct motivations, the better you can build a personalized buying experience. This process is key to closing sales, but it is made more difficult in today’s digital world. Your sales team must get to know shoppers and appeal to their interests without meeting them in person.

    To aid in personalizing experiences, look for technology that shows you exclusive insights about shoppers, based on their online browsing behavior. This technology empowers you to proactively find and engage shoppers and guide them through their unique purchase path. While other dealers are waiting for customers to come to them, using first-party data, you can see insights about your customers right in your CRM, and appeal to them with personalized offers.

    Technologies that Maximize Service Capacity

    Every dealer service department can diagnose and repair a vehicle. Those service departments that optimize available time and technician talent to service more cars in less time are significantly more profitable. It’s a balancing act that favors prepared, well-organized service departments. Forward-thinking dealerships are using technologies that maximize every service minute and get the very most out of their service department.

    When evaluating ways to optimize your service department, start with your scheduling technology. Are you overselling or underselling shop capacity? Do you have peak bottleneck times, followed by periods of downtime for your team? Find a scheduling software that can help your team optimize service capacity and enjoy a smoother service experience—for your team as well as your customers. That might mean incorporating technologies like text confirmations and reminders and putting vehicle history at your team’s fingertips, so you can keep cars flowing through the service lane with minimal complications or interruptions.

    Drive Performance and Deliver Data that Matters with Real-Time Reporting Tools

    Modern dealerships have access to an unprecedented volume of customer, inventory, financial, and even behavioral data. That data can unlock new capabilities and profit streams for dealerships but harnessing it all can be very difficult. In order to capture insights and make better data-based decisions, dealers need flexible reporting solutions that integrate directly into their existing technologies.

    Forward-thinking dealerships are maximizing their data by using solutions that deliver it consistently, promptly, and intuitively. Look for reporting tools that come with prebuilt dashboards and modules that make it accessible to leaders. Your technology needs to allow users to drill down deeper into their numbers for forecasting, filtering, and grouping information so they can track progress and growth.

    To learn more research-based strategies and tactics for boosting profits, download The Forward-Thinking Dealership guide.

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        • Allstate: The ABCs of maximum F&I effectiveness
        • Ally All Ears Podcast Episode | The next evolution in virtual F&I
        • Ally All Ears Podcast | How F&I is driving dealership profits
        • Ally All Ears Podcast | building customer loyalty during challenging times
        • Ally All Ears Podcast | reducing friction in the purchase process
        • Ally: All Ears Podcast | Building trust to attract and retain customers
        • Ally: All Ears Podcast | Staying competitive with vehicle acquisition
        • Ally: All Ears Podcast | Used Car Bubble
        • Ally: All Ears Podcast | practices you may incorporate into your F&I department
        • Ally: All Ears Podcast: Building a culture of inclusion at your dealership
        • Ally: All Ears podcast Does your dealership have a talent management strategy?
        • Ally: All Ears podcast | Does your dealership have a talent management strategy?
        • Ally: All Ears podcast | Tips to refresh your F&I practices in 2023
        • Ally: All Ears podcast| The used-car bubble is bursting. What’s next?
        • Ally: Tips to refresh your F&I practices in 2023
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        • Big Ass Fans: Reducing risk and productivity loss with Big Ass Fans & evaporative coolers
        • CDK Global: Shoppers make clear the service features they want
        • Capgemini: Unlocking the next turn in the mobility roadmap
        • Capital One Auto: Auto dealers are here to stay. Here’s the next step in their evolution
        • Capital One Auto: The future of car buying
        • Champ: The history of titling and the cost of human error
        • Concentrix: How can customer data drive a better automotive CX?
        • Cox: Automation and the future of automotive retail
        • Cox: Boost sales and profit by adopting tactics of forward-thinking dealers
        • Cox: Transformation toward eCommerce in automotive retailing
        • Cox: Transforming F&I for Automotive eCommerce
        • Deloitte: ACCELERATING DIVERSITY, EQUITY AND INCLUSION
        • Easycare: Reinventing the service contract for EVs
        • Easycare: The importance of benchmarking your reinsurance performance
        • Effectv: Why “Customer Lifetime Value” Should Be the Auto Advertising Buzz Word for 2023
        • Experian, GroundfTruth and Spectrum Reach: Dealership marketing: Navigating automotive advertising in a post-pandemic world
        • Experian: Evolving identity beyond the “who” to enable the “how”
        • Experian: Three steps to adapting to constant change in automotive marketing
        • HAIG: BUY-SELL Q&A | Valuing dealerships In uncertain times
        • Haig Partners: Buy-Sell Q&A: Where the Automotive M&A Market is heading
        • Haig: Buy-Sell Q&A | Advisors add value to sales process
        • Haig: Buy-Sell Q&A | Navigating partial dealership sales
        • Haig: Buy-Sell Q&A | growth drives value
        • Haig: Buy-Sell Q&A: Future-proofing your dealership
        • Haig: Buy-Sell Q&A: What is the value of an M&A advisor?
        • JM&A Group, Easycare, Assurant: Unlocking new opportunities in F&I with digital retailing
        • Kerrigan Advisors: Interview with Baxter Auto Group
        • Kerrigan Advisors: Interview with Hitchcock Automotive
        • Kerrigan Advisors: Interview with Keyes Motors
        • LUXOFT: How are software-defined vehicles disrupting the automotive industry?
        • NEXTEER AUTOMOTIVE AND ETAS INC: Software-defined vehicles will transform auto industry
        • OEC: How to understand what customers are saying when they’re not saying it
        • PACE: Electrification Technology: Once the supply chain gets over the shock, EVs offer opportunities
        • Pace Program Navigating advanced driver-assistance systems
        • Phone Ninjas: 5 Reasons you need to use phone scripts for your dealership
        • REYNOLDS & REYNOLDS: Creating great retail customer experiences
        • REYNOLDS AND REYNOLDS: Are you ready for the FTC Safeguard Rule changes? Take this quiz to find out
        • Rey and Rey: Automation and the future of automotive retail
        • Route One: Trends in vehicle buyer expectations
        • Routeone: The benefits of robust dealership reporting tools
        • Siemens: The impact of vehicle electrification and connectivity on electrical system design
        • Spectrum Reach: Playing to win: How automotive dealers can capitalize on sports marketing
        • Spectrum Reach: Use data and the power of multiscreen TV to drive more traffic
        • Swiss Re: Insurers and car manufacturers: how to unlock the potential of true collaboration
        • Text2Drive: Digital retailing meets the service department
        • Trimble: The future of autonomous vehicles speeds ahead
        • Truist: Capitalize on the changing structure of auto retailing
        • Truist: Prepare now for the next era of automotive retailing
        • URBAN SCIENCE: Parts & Service: Building the Service Operation of the Future
        • Urban Science: Promoting dealer-consumer alignment across continued industry evolution
        • Walbridge: Video | Walbridge Chairman on how automotive companies are navigating the electrification boom
        • Western Digital: To Meet Consumer Demand, Automakers Must Double Down on Agile Development
        • Wipro: How to address safety and security for software-defined vehicles
        • Wipro: How today’s tech decisions drive tomorrow’s sales
        • Wipro: Software Helps Address the Affordability Challenge
        • Wipro: The Promise of Software-Defined Vehicles and the Cloud Car Ecosystem
        • Wipro: Video | Wipro CTO on how OEM's are leveraging software-defined vehicle technology
        • Notarize: What to expect for the future of auto sales
        • Seagate: Unlocking value from connected-car data
        • Amazon Web Services: AI-powered supply chain decision-making
        • Epic Games: Five ways in-car designs will change in the next five years
        • Haig Partners: How are dealerships being valued today?
        • Haig Partners: Dealership consolidation trends
        • Haig Partners: Dealership valuation trends
        • Haig Partners: Dealership succession planning
        • Ally: Navigating the future of automotive retailing
        • Google: How a century-old brand is transforming the auto industry
        • Car Wars: Is a Rise in Service Leading to Poor Customer Satisfaction?
        • Solera | DealerSocket: Four real-time integrations that can save your dealership time
        • Solera | DealerSocket: Time for a new pre-owned pricing tactic
        • Kerrigan Advisors: Blue Sky Update Q4 2021
        • Qualcomm: Trading multi-year design cycles for on-demand features and experiences
        • Twitter: EV adoption is happening...in an unexpected place
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