AUTOMOTIVE ADVERTISING & MARKETING

Online Feedback

Don’t Ignore Online Feedback from Your Customers

JKRAdvertising / Automotive Advertising Advice /

April 26, 2016

There is a very good reason why you should not ignore online feedback from your customers – good or bad. In today’s car-buying world, quite often the Internet is the first contact a prospective customer will have with your dealership; in other words, their first (and most important) impression of your dealership will be formed right there!

Something else to think about: In 2000, customers made about five trips to auto dealerships prior to purchasing a vehicle. Today, that number is about 1.4 visits! That is clear, obvious proof that people are going online before setting foot into a showroom … and to further back the point, statistics show nine out of 10 car shoppers do, in fact, visit the Internet first.

Online Feedback Matters!

You are able to put exactly what you want on your Website, so you don’t have to worry about that particular facet of your online advertising. But what about all your Social Media sites, where reviews can be left for others to see? These are the ones that require your regular attention!

Here’s why: About three-quarters of consumers say they are influenced by online reviews! That means if you’re not paying attention to these reviews, you could be costing yourself business – and you will never know about it, or know why a prospective customer decided to go somewhere else!

When you take care of customers and respond to online feedback, you stand a much better chance of being in consideration for the 1.4 dealerships that customers will physically visit. Additionally, those three-quarters of customers who are influenced by online reviews will come away with a positive feeling about your store!

Find Out More

If you’d like to find out more about how to improve your online reputation, please call Eric Tigner at (321) 397-0777 today.

JKR Automotive Advertising: We Move Cars.

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Post-Pandemic Dealer Gross Profits are Down – But They Don’t Have to Stay There!
March 13, 2024
It is no secret that dealer gross profits per vehicle are down sharply in the post-COVID automotive world. According to a recent article in Automotive News, gross profits of the six largest publicly traded dealership groups plunged significantly from Q4 2022 to Q4 2023. One of them was actually down 35% per vehicle!

The article explains: High interest rates, more expensive vehicles and a steadier post-pandemic supply chain continue to soften demand and bring it closer to pre-pandemic levels. Still, new-car buying has remained strong overall …

This means that, while sales volume is similar, overall bottom lines are lower for many dealers due to the reduced gross profits. What about your dealership?

Being Realistic
It’s time to turn the page! The time for dealers to simply be order takers for people willing to pay MSRP for a vehicle (and in some cases more) has passed and dealers have to work hard once again to achieve acceptable gross profits.

Selling a high volume of cars doesn’t control gross profits, no matter how much you wish this was the case. Correct processes and menu pricing – and strict adherence to them – do!

What kind of processes?
∙ Slow down the transaction! Your sales staff has to once again sell the customer on the features and benefits of every new and pre-owned vehicle on your lot.

∙ Your salespeople and managers should devalue the customers’ trade-in value (politely, of course) as much as possible. After all, if the customer expects you to lower your price, shouldn’t you be able to do the same on their trade? Remember, you’ll have to fix it up, put your name on it and resell it to someone else with all the tenacity you would a brand-new car. So make sure you buy it right … because the profit is made when you buy it, not when you sell it!

∙ To that end, management should be ready and willing to leave the desk and do thorough walk-arounds on each trade to ensure the best outcome for the dealership.

The Cure for Low Gross Profits
If you are like a lot of dealers these days, you could use some good news. Here it is: while you may not have the capability to achieve profit margins similar to those you enjoyed during the pandemic, they could likely be improved. JKR’s clients enjoy the benefit of attracting not only more customers, but better ones, too!

If meeting and exceeding your sales goals (and increasing gross profits at the same time) sounds great to you, you need to call us. Don’t settle for reduced gross profits when help is out there to get you closer to where you’d like to be.

Want to know how we do it? Reach out to Senior Partner Richard Brauns (407) 701-4233 or Partner/Vice President Jon Albert (407) 718-2494 today.

JKR Automotive Advertising: We Move Cars.

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