Five essential steps to future-proof your dealership
With a continually evolving product and greater choice than ever at customers’ fingertips, competitive edge for motor dealerships is crucial.
Dealerships that embrace technology for the long term to improve customer experience and enhance business processes are one step ahead.
Smart cars are here, interacting with their environment, gathering vital data and enhancing the customers driving experience. The availability of technology within a vehicle has increased exponentially in recent years and this trend is likely to continue.
Data collected from within the car transmits back to dealers and manufacturers, providing valuable information that can be used to enhance the entire customer experience. To cope with this influx of information, a variety of smart technologies are being deployed.
Today, customers expect an immersive digital experience supported by technology and manufacturers are pushing to fulfil those expectations. Interactive screens for personalised car design, tablets allowing flexible sales processes and telematics enabling longer test drives are all readily available. These elements are positively impacting conversion rates, giving forward-thinking dealerships serious competitive advantage.
So how does the modern motor dealership stay ahead of the curve, whilst retaining a solid return on investment?
1. Do your research: Stay ahead with the latest technologies and monitor how they are being adopted within your market. It’s always useful to draw on the experience of others, learning from their successes and pitfalls, before taking the plunge yourself.
2. Business driven innovation: There are many technical options that can support and improve your business. In order to fully tailor a solution, first outline your business drivers, such as; What do my employees need to succeed? How much growth are we targeting? Where can improvements be made?
3. Build in flexibility: To ensure the longevity of any business, the ability to react to changing commercial environments is key. Squeezed margins and a potentially volatile marketplace emphasises the importance of agility for success within the motor industry.
4. Focus on return on investment: How long did the most recent round of showroom updates last? When was the last time you bought a new desktop computer? Do you really need that new smart phone every two years? Technology moves quickly and a right first time approach to investment will minimise the need for future spend. Consider initial expenditure as part of a 3/5/7-year plan and think about the operational efficiencies gained by spending wisely.
5. Ask the experts: You know your dealership and your industry better than anybody, similarly there are companies who know the technology and can work with you, collaboratively to help you achieve your long term business goals.
Bistech provides network connectivity for more than 10% of the AM Online Top 100 Motor Dealerships in the UK. Call us for a no obligation discussion on 03330 11 22 55.