Tag: Used car dealership

How can we better serve you?

Posted on | by Tom Hampton Agency

How can we better serve you?
By Tom Hampton

For years now, we have created monthly newsletters to help and serve YOU, our community. Now I ask, how can we at Car Guys Agency better serve you? What would you like to see from us, in the ways of support, information, topics or the like? There is so much going on out there. However, if it is of no value to you, my friends, then no presentation is needed; So, let’s find stuff that IS!  Over the next 30 days, I am asking you to start sending us subjects, questions, information, etc. that you feel holds value for you, your dealership, and your team.  Email us here: [email protected]

This is the part where audience participation is key.
I am depending on you to let us know so we can better serve you. 

Every business navigates uncharted waters at some point. It has always been the goal of our monthly newsletter is to keep you, our community, informed and prepared. It would be awesome if we could all get together in a big open meeting once a month – just to build each other up and toss out possible solutions we can all benefit from. (And MAYBE do a little business on the side!). I know schedules and hectic busy lives would never permit this to actually happen… however, it sure would be nice!  

 

Sadly, we in the independent dealer’s community do not always stand united in sharing knowledge, resources, and information. We tend to be the complete opposite, compartmentalizing all our knowledge, resources, and information to the point of almost keeping it under lock-and-key. The competitiveness of this business often leaves us holding tight to our tactics, afraid if we share, the competition will develop some kind of advantage over us. 

 

Again, I ask… What do you want to learn that will help you build more value into your business and yourself? You are our most important asset. We are here to serve, help, guide, strengthen, and support YOU.  It has been one of my greatest honors to share with you month after month. I hope that I have been able to help some of you overcome, grow, and build the business of your dreams.  

 

We eagerly await your emails letting us know how we can help!
Email us here: [email protected]


If I don’t know the answer, I will find it. Please join us in our Facebook group and dealer community, Tips & Tricks for Today’s Used Car Dealers.  

 

Create-a-great-day! 

Tom Hampton  

Fall in love with your clients!

Posted on | by Tom Hampton Agency

One thing I want to remind all you hard-working independent dealers out there is – you ARE the Neighborhood Transportation Bank and have been for over 100 years now. 

 

It does not matter if you are cash-n-carry; outside finance only, BHPH, or the hybrid blend most dealerships are becoming; The community you build, nurture, and ENGAGE can facilitate 10× future growth even in the roughest of times.  

 

Every day some advertisers say they have the secret to unlocking the hidden potential in all your data. What data is being evaluated? Does data = your customers’ file? No personality, no personal connection, just a series of texts and emails?  

 

In all my years of working with highly motivated, passionate, goal-driven, often unorthodox, and very profitable dealerships; I have never witnessed true success grow from a “Quick fix to make money fast!!” program. We are all familiar with them.  

 

Unfortunately, many customers will make their purchase and never return – ending up just a name in an old folder.  The time-proven method of bringing customers back to you is to call them.  Since the start of my career, this is still the tool I use most.  Can you come across someone who was unhappy? Yes. Will you accept the challenge to go above and beyond to make it right for them? I sincerely hope so. Take the grumbles, then work your magic.  

 

People want to feel valued in earnest. So… HOW do we show our customers that we value them? Firstly, your website and social media are other great places for customers to reach out to you and keep your customers engaged with your business. When you are Out of Sight, you are also Out of Mind. I see tons of dealerships posting pictures of customers and their new (preowned) vehicles on social media! (oh and...”Don’t forget to follow us so you can view and share it with your friends!”) This is an excellent way to tell your customers you appreciate them and their business.  

 

Whenever I reach out to my clients, I invest the time and my full attention into finding out more about how they are doing. Genuine interest sparks a genuine connection, and that my friends, is the key to making your customers feel valued. When I was in my car sales days, I would start by reaching out and asking customers during these tough economic times to inquire if they or anyone they knew had any spare vehicles they wanted to sell. In so many cases, I was able to help a customer in a rough spot and I was the salesperson they thought of when they or their family and friends became ready to purchase a vehicle. I would then close the call by offering a pre-paid dozen donuts via email coupon from a local donut shop in exchange for referring an interested buyer.   (Community Chest Bonus! Helping another self-owned business grow in the process). This is your opportunity to build, connect, nurture, and grow within your community. 

 

I have been in this business for a long time; I can guarantee a unique perspective guiding and mentoring the growth and stability of your dealership. Reach out to us and let’s get your *first consultation scheduled! I offer highly personalized solutions that can position your dealership towards new achievable outcomes.  

 

Create a GREAT day!
Tom Hampton

 

*The number of consultations recommended for your specific situation varies by person.

Your BRIGHT 2022 Future Awaits!

Posted on | by Tom Hampton Agency

Most resolutions are broken minutes after they are made!  So, skip making a resolution that will last for a month, and let’s pick chaos (the controlled kind) for 2022! 
  
Controlled chaos can be planned, to a degree, by directing your dealership into new practices or territory….and staying there for a while. Starting a new way of doing things, only to pull the plug after 90 days, can give the dealership whiplash. Unless of course, the changed results prove they just don’t serve your bottom line and are starting to show signs of being damaging. Sometimes, it can take a bit of time for the momentum of the program to move you in a new direction. 

  
Take some time to assess all the resources available to you; Materials, labor, community, finances, etc., and determine where you want the controlled chaos to dwell for a while! Think about it. Which areas do you feel can grow and expand? Do you have any areas where you might be overdoing it? Where can controlled chaos best serve your business? If you want to upgrade from 20 notes a month, to 35… what changes need to occur? A few examples would be new goals for the sales teams, changes and improvements to advertising, and adding new programs for your customers like warranties and CPIs. 

Implementing the above-mentioned new programs, (Warranty, CPI, Service Contracts, etc.)  can be just the boost your business needs to thrive. However, it will require participation from everyone. Give the program an earnest run of at least 180 days with bi-weekly meetings with the team to keep everyone on the same page. During those brief meetings discuss progress, problems, suggestions, and different possible solutions, ultimately, keeping everyone engaged and excited. This is 100% on the shoulders of the owner(s) to get these meetings delegated and done so that real GROWTH can occur within the dealership.  

We suggest introducing controlled chaos to one department at a time, based on the needs and resources of the assessment you did. It could take months of fine-tuning before you hit the sweet spot and witness growth from your efforts. It is also important to pay close attention to the needs of your other departments, as changes in one will affect your entire business. The most successful business owners have a plan with short- and long-term goals in place to keep them prepared for the next step (as well as the unexpected chaos life deals us all). Whatever your goal, the results of controlled chaos are worth the work. You may spend days filled with frustration, agitation, and feeling like you are reaching impossible situations to resolve. Such is the nature of the beast. If you keep pushing, (again, do not push your business over the edge. The goal is to be uncomfortable and inspire change), those days traditionally work out to be replaced with days that are rewarding, fun, and filled with excitement and joy. Breathe. You are doing the best you can.  

In short- without controlled chaos and working outside our comfort zones in businesses, there would absolutely be no successes, no change, no learning, and very little growth.  Look at how much we all changed and grew from the chaos of 2020; Opportunities can come wrapped up in the strangest packages at times!    

 New processes, new programs, new procedures; Which is it to be? Tom Hampton Agency is here to help you figure it out. Schedule your consultation today and kickstart your 2022!   

 

Create-A-Bright-Future,  

Tom Hampton   

Car Lots in 2022

Posted on | by Tom Hampton Agency

By Tom Hampton

As we enter the last quarter of 2021, it is time to start thinking about what you want to work for in 2022. If you could wave a wand and magically optimize your business to its fullest potential, what would that look like? What sagely changes would you implement immediately?

2022 is only a few months away. Time to set your goal planning into overdrive and create your New for ‘22 Dealership! We are amidst many challenges and changes coming to our industry. Since we can’t actually wave a wand and do magic, let’s look at ways you can optimize your businesses performance by creating a budget for small adjustments and improvements that grow big changes!

Web Presence

New for 22 is slanted towards your website because that is your front line – Usually the first as an interface of engagement with a potential customer!  First ask yourself, your team, your friends, and your customers – What can I do to improve my company’s website? Is your site fully capable, easy to follow, and transparent? Is it safe? Is it is optimized for mobile? Is it engaging and does it build curiosity from page one? If any of the answers to these questions are no, grow your budget so you are able to invest to hire a professional to optimize and protect your website. You want your customers to have the best experience possible. Side note, make sure that YOU own your company’s URL. If you use one of the many companies out there that will assist and “get it for you,” then they would be the owners of the domain, not you. We recommend purchasing your own from a source like GoDaddy.

Also, for the low cost of $299 a month (this is on sale now for only $150/mo for the ultimate package) you can have your web presence automated – including website, inventory, classified postings, social media automation, local dominance, CRM, instant conversation, AND *Digital Ads. (*3rd Party Fees Apply)

Optimization, complete. Get my Web Presence Optimized Now!

Physical Presence

 

Now that you are reaching customers from all corners of the web, what can you do to improve the appearance and flow at the heart of your business? Begin to take stock of all the changes you can make that will be any kind of improvement to your physical location. It can be as simple as replacing chairs to more comfortable ones – to the more complicated, total remodel. Whatever your goal, adding a small amount to your budget for changes can drastically improve the quality of your business.

Not quite and optimization, but… the most critical part of your physical presence, displaying your current State Licenses, City Permits, and other vital documentation. Should you decide you want to move, locating outside your current county limits, means reapplying for them all. Stay up to date (Subscribe to our emails, we send monthly news updates and reminders!) with the TXDMV and OCCC. (Have you heard? New to TXDMV – Continuing education for licensing, 50K Bonds, and a new Sign Rule).

Surviving these tough financial times means creating a valuable experience for your clients and generating a strong word-of-mouth flow. Your role goes way past selling them a car; You are servicing your community. Look at everything you have accomplished, just this year! Let’s keep driving forward, together!

Create-A-Great-Day,

Tom

Trust = Transparency

Posted on | by Tom Hampton Agency

Trust, or lack thereof, has been the largest stumbling block our industry has ever faced! Every bit of that mistrust was driven by the almighty dollar and the belief that WE, the dealer, knows better what is best to meet the needs of our client and our business. Those days died in 1995, yet for some reason, the car industry was never fully able to wipe the stain from our reputation. My desire to see our industry prosper at levels we never could have dreamed of is what drives me to shout these convictions from every rooftop!

 

Transparency is the most vital part or regaining trust from the community. Listed on your website, should be your entire purchasing process – beginning with financial qualifications and an application. Like I mentioned last month, I believe the future of Used Car Purchases is going to be recreated in the Home Buying image; Customers will be preapproved and have a verified purchasing amount prior to beginning the buying processes. It makes so much sense in our industry. How many times have you wasted hours going from one car to another with a customer only to find out their credit is shot, and their down payment doesn’t exist? A preapproved amount ensures that both you and your customers don’t waste each other’s time. We deserve transparency from our customers as well.

 

Make sure your website includes resources your prospective customer can use to make an informed decision about whether they want to put in an application or not. This should include information for all customer types, including Credit Challenged, New Credit, Average to Good Credit, and Great Credit. Keep a printable checklist of all the required documentation necessary and require it be uploaded to the secure application before it can be submitted.  

Once you have an approved amount, and an appointment time to meet with your customer (who is also bringing hard copies of those required documents), you can open a dialog to the customers needs and wants in their new vehicle purchase, where the magic starts! I might also add, that nowadays, some customers are much more comfortable communicating via text or email; Both of which you will want to make sure stay totally compliant with TCPA guidelines. (We’ve got a solution for that too!)

 

TRUST = TRANSPARENCY 

 

Now you can coach your customer to leverage their buying power into the best vehicle purchase they have ever made, without the customer feeling like there is a curveball about to hit.  All the transparency has built trust, layer upon layer, for both you and your customer. I leave you with a final question; Who of you, over the next year, will transition into a new way of doing business? The mortgage process in the BHPH industry makes sense. It saves us time, effort, and energy; All which we can never recover.

 

The clock never stops, neither does change. It is time to step up our game and make everyday operations clearer than they’ve ever been!  

 

Create-A-Great-Day  

Tom