Ways Your DMS Can Maximize Your Profit Potential - Randy Wilson - Dealertrack
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Ways
Your DMS Can
Maximize Your
Profit Potential
Randy Wilson
Randy Wilson • Director of Performance Management, Dealertrack DMS
Audience Poll: How many of your clients have adopted a new Dealer Management System within the last two years? A: 1-2 B: 3-10 C: 10+ D: none
The Accelerated Digital Landscape
Prompted by continual customer demand (and a year
of less in-person shopping), dealers are doing
business in an accelerated digital landscape.
56% Nearly 75%
of customers want to start of customers want to
negotiating on their terms, complete credit and financing
preferably online. paperwork online.
Consumer interest in finalizing a
deal online has risen
73%Customer satisfaction is improving as adoption
of digital tools accelerates.
57%
of buyers were satisfied
69%
were satisfied with their
64%
trusted the dealer
74%
were satisfied with the
with how long the process interactions with finance gave them the best price paid (up 7%).
took (increase of 10% (up 9%). deal (up 7%).
year-over-year.Audience Poll: What new innovations do you anticipate being big profit drivers in 2021 for dealers? A: AI (artificial intelligence) B: Digital e-Contracting C: CRM integrations D: Fixed Ops Technologies
Performance Management
State-of-the-Art Support
Ways
Retaining Top Talent
Your DMS
Can Maximize Optimize Efficiency
Your Profit
Potential Prioritize Integrations
A Dealer’s Right to
Access Their DataPerformance
Management
• Help dealers achieve their business
objectives and goals.
• Are invested in the success of a dealer.
• Most dealers see the DMS as a Must-
have utility, not as a Profit-driver.
• Manage Change Management and
implementation.Performance Managers “A DMS is a such a critical part of the dealership, and choosing Dealertrack DMS was a no brainer. … But the number one thing for me, hands down, is the fact that Dealertrack DMS comes with a Performance Manager.” — Matt Gardner Dealer Principal, Downtown Auto Group “We love having our Dealertrack DMS Performance Manager. He brings a lot of value to the table—from real world experience and his ability to think outside the box to helping us with campaigns, finding gains, and reviewing analytics. He helps us strategize how to capitalize on more opportunities and bring us more profit.” — Frank Seitz Service Manager, Lawton Kia
State-of-the-art Support • A DMS partner that emphasizes customer support and prioritizes industry-leading client services delivers value to your investment. • Technical support differs from Operational Support. • DMS360 Online Learning & Training.
State-of-the-art Support “I trust Dealertrack because anytime I’ve had something that didn’t go the way I thought it was going to go, I have a person that I reach out to, not a phone bank.” – Fernandez Honda
Retaining Top
Talent
• 84% of franchise dealers expect to
increase online sales in 2021.*
• Two out of three shoppers polled say
experience is even more important than
price when it comes to buying their next
car.*
*2020 Cox Automotive Car Buying Journey ReportRetaining Top
Talent
• An 80% turnover rate plagues dealerships.
Outdated tools and technology contribute to
high turnover.
• Better sharing of information enables
dealers to better understand their business.
• HR and Payroll software speeds up the
onboarding process.
• Reduce lost productivity of new hires with
defined, digital process.Audience Poll: What are you hearing from your clients on employee hiring and retention lately? A: It’s not a big problem B: It’s the same problem as it normally is C: It’s a bigger problem than normal D: I don’t know
Optimize Efficiency • The speed of the deal improves with the right software. • Heavy digital buyers reduced their time at the dealership by more than 40 minutes. • The biggest time savings are delivered in negotiating price and signing paperwork, the two steps that have historically had the lowest satisfaction ratings.
Prioritize Integrations • Optimize new hires and maximize role efficiency. • Technology integrations that are secure enable a streamlined online to in-store buying experience and protect customers’ interests in keeping their information private. • Free-flow of data between solutions – without extra fees.
A Dealer’s Right to Access
Their Data
• The debate between data security and
data access isn’t an either/or scenario.
Dealerships don’t have to choose between
one or the other. They can have both.
• Technology integrations that are secure
enable a streamlined online to in-store
buying experience and protect
customers’ interests in keeping their
information private.A Dealer’s Right to Access
Their Data
• A DMS that provides both security and
unfettered access to data enables
dealers to advance into a new age of
automotive retail.
• Make sure your DMS partner is well-
positioned to provide powerful data
insights.Audience Poll: Where would you rank most of your current clients? A: Lacking Technology. (The Flintstones.) B: Keeping up with the times. (The Simpsons.) C: Very advanced and leading the pack. (The Jetsons.) D: I don’t know.
Why Dealertrack DMS is Different • Integrates easily • Better customer experience • Performance Management team • No long-term contracts
Download Now: • Download the full eBook, “The Dealer’s Guide for Maximizing Profitability with the Right DMS Partner”
Thank You! Questions?
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