It’s been said that without competition, there is no progress. For automotive retail, this couldn’t be more true. Since the dawn of the automobile, the concept of winning has been built into every transaction we complete. But how do we put ourselves on the path to greatness for EVERY point of interaction in the customer’s journey? It starts with a winning attitude. Let’s be real for a moment, though. It’s officially 2024. Every company, vendor and dealership already has a playbook for success, a toolkit for achievement or a roadmap to victory. There are probably other generic business terms that get thrown around as well, but the point is … if you want to succeed, then you’re already competitively fighting for progress. Automotive has always been a mixture of aspiration and inspiration. To get to the next level, we need more than buzzwords. We need practical advice based on data and leveraged by experience. From improving the customer experience to Establishing the Four Corners for Winning at Your Dealership Every Day in 2024 By ACV building a better program for training and development, the foundation for prosperity in the automotive industry is tenacity and determination. So, to help you win, here are four attainable cornerstones to build a winning base. First, you need to be strategic in how you source inventory. The days of single-point acquisition are gone. You need to diversify your approach to securing valuable vehicles and think outside the box. Competition is fierce in this regard, so the more open you are to new avenues, the higher your chances of success. As it stands, physical auctions still have practical applications. But supplementing your brick-and-mortar approach with digital auctions provides you with a slew of new opportunities. On top of that, wholesaling with a hybrid approach allows you to integrate data into your decision-making. The days of guessing on a car only to have it not perform on your lot are dwindling. Empower your staff to secure inventory that will sell for the highest gross possible every time. Take sourcing a step further and integrate a next-generation widget to your web properties that allows you to best approach consumers for their vehicles. 2024 is the year you need to spread your wings and strategically scoop up the right inventory for your dealership. Second, an important aspect of success at your used lot is how you attract, market and acquire business. Bringing traffic to your store is about more than just running ads and hoping for the best. Instead of doing a shotgun blast, build value into your marketing materials and give the consumer what they seek. Provide educational opportunities for customers while focusing on their overall experience. A happy shopper leads to better reviews and a higher rate of referrals. № 9 24 CATA UP TO SPEED
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