Today on CBTNews.com – Friday, June 15th, 2018:
Applying Successful Market-Based Strategies For Profitable Returns on New and Used Cars
Is your car dealership spending money on marketing to make money on investments? Brian Finkelmeyer, Director of Conquest at vAuto, chats with Jeremy Beaver, Chief Operating Officer of the Del Grande Auto Group, about what a dealership can do to make sure they are seeing a positive return on investments. Watch Now
Do You Know Your Most Profitable Customers?
Did you know that on average, the top 20 percent of customers produce 69 percent of a dealership’s gross profits? These are your most profitable customers (MPCs). Meanwhile, the bottom 20 percent of customers are unprofitable. If you could replace just half of your unprofitable customers with MPCs, your gross profits would increase 40 percent. Not all customers are created equal. To boost sales and thrive in any market, you need a strategy to find, attract and retain inherently profitable customers. This strategy requires investing in your customer data and growing your MPC market share. Read More
How to Interview a Job Candidate
Have you ever hired someone only to be disappointed with their performance? If so, you may have only yourself to blame. Good talent is hard to find these days, which makes it that much more important to weed out the liars during the interview process. If your dealership doesn’t have a human resources expert on staff, you may be making common hiring mistakes. For example, have you ever had the attitude that as long as a candidate is presentable, why not give them a shot? The problem with this attitude is that the average cost of turnover per employee is $20,000. Additionally, bad hires can cause problems with employee morale and customer satisfaction. Read More