On the latest episode of Auto Marketing Now, host Brian Pasch, Founder of PCG Companies, shares some insights on what to do during this unique time in auto retail, where inventory levels are still low, dealers have record profits and dealers are wondering if this is the time to make a change?
The question is— what should you be doing now to prepare for the future? This conversation is primarily for the variable op side of the business. Pasch says this is a great time to consider the future because there’s no true barrier to the reinvention of auto retail than now. If investments need to be made to secure the future of auto retail, it’s not going to be stopped because of a lack of funding. Inventory levels are down and the number of people that need to be retrained is smaller than ever before.
Pasch says this is absolutely the best time to decide on your sales process going forward. This is the time to simplify your websites. The cars you are listing on your website are selling faster than ever before. Pasch says this is the time to take a ‘risk’ and simplify the buttons on your website to indicate a single sales process. Whether a consumer is online or in-store, you’re using the same tools that are going to quote the same payments. When the consumer does come in, you’ll use the same tool to pick up that sales process and see it to its logical completion.
The second opportunity for improvement is the change of foundation of your customer communication strategy. Still, in 2021, email is the primary form of communication that we transact within auto retail. Pasch says when we switch our primary communications to our customers, people want to do business with us to a messaging environment, where their phone doesn’t change. There’s no limit to what can be done.
Pasch says what he doesn’t think is healthy, is the idea of not changing anything. He says this is short-sighted thinking. We should be using this time more efficiently. Pasch says this is the time to act, while you have the funds, resources, and opportunity to differentiate yourself before the normal supply and demand equation comes back.
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