I have been thinking, in all earnestness, WHAT I could compose that might propel YOU into a great summer.
- The idea (more so inspiration) came in 2 words, “EVEN KEEL.”
- Another way to put it simply is BALANCE.
My great granny’s garters; I could go on about this one for days.
OK, start at the beginning – For ANY business to grow beyond the owner, certain things must happen.
First, the owner must have concise written goals (1yr/3yr/5yr) and “study”. (Review and work on them every day!)
Improve the owner – improve the business!
Second, if you haven’t done it yet, start putting together a procedure manual (how-to instructions) for every position in your dealership. I am talking porter to YOU. Heaven forbid, should something happen, illness, family emergency, etc., to an employee or you. – Open the book and follow instructions!
Seems rather simplistic; however, I have seen too many times F&I or the lot manager out sick, and the ENTIRE dealership is “locked up,” “bottlenecked,” or at a “snail’s pace” (however you choose to call it.)
I call it LOST INCOME.
Now, before I go, one final thought. Last month we put the word out that as of Jan 1, 2019, the state reversed its position on referral programs. We as Dealers are now allowed to actively promote this program!
Referrals are not only a cost-effective marketing strategy, they also build more loyal customers over time. According to the Nielsens 2013 Global Trust in Advertising Report, 83% of people worldwide trust recommendations from people they know. They also point out that people are 4 times more likely to purchase, when referred by a friend.
So. What shape is your Referral Program in? Have you thought about how you are going to track your referrals? -How many? Who are they from? What is the reward for referring an ‘x amount’ of customers? And finally, if you don’t have one, what are you waiting for?
Get all your goals down. Study. And create your balance!