Effective Processes for Running a Successful Car Dealership
The Lot Blog
As with any other business, running a dealership requires a lot of work. You need a constant flow of prospective and repeat customers to keep your business profitable.
Below are four processes that high-volume dealers that participate in the Credit Acceptance program follow to keep their dealerships successful:
- Set tangible goals for your dealership.
Make sure they are SMART: specific, measurable, attainable, realistic and time-based.
- Strategize ways to generate leads.
Brainstorm and put a marketing strategy in place to reach your target markets.
- Monitor your car sales performance.
Pulling monthly stats from your CRM (customer relationship management) tool is a good way to keep track of how your sales team is performing and areas in which you can improve.
- Prioritize your customers.
Find creative ways to keep your customers engaged, whether it’s through a loyalty program or communicating relevant information.
And a bonus: Don’t be afraid to expand your market by offering subprime auto financing.
To learn more about becoming an enrolled dealer in the Credit Acceptance auto finance program, visit our website.