Dealer operations can often be a big ship with a small rudder. With all this movement in the technology revolution, what does it take to change course? The answer depends upon the lens through which you view technology, change, and what is happening in the industry.
An F&I process designed around a workflow can be more efficient, transparent, and profitable. BusinessDictionary.com defines workflow as a progression of steps, tasks, events, or interactions that make a work process and that adds or creates value to an organization. Our days consist of workflows, especially at our vocation, where we produce some work product at the end of a series of tasks.
As kids, you were probably told at some point to “play nice” with siblings, cousins, and classmates. As an adult, you automatically play nice with family, coworkers, customers, and the various people who cross your path in the course of your daily activities.
You cannot negotiate with a storm. Once it’s upon you, it dictates what you have to do. But knowing that the storm is coming means you have choices to make to prevent catastrophe. And when the weather forecaster and the umbrella salesperson work together, storms become something different altogether.
Your dealership’s credit application system and dealership management system (DMS) contain large amounts of customer data, and your dealership is responsible for maintaining the privacy of this sensitive information.
Compromise of this data may be costly to a dealership both in higher costs and lower sales due to:
When it comes to buying a vehicle, in-person interactions are still very important. However, they should take less time and be more valuable to busy shoppers. Your goal should be to create a memorable experience that wins over customers for life, while improving your bottom line. Consider a few of our complimentary tools designed to make the purchase process as smooth as possible.
Americans spend billions of hours a year, waiting in line. Dealerships today work hard to move customers through the buying process faster. As one of our studies has shown, shaving even 15 minutes off the F&I process makes customers feel better about the experience.
The wait time is only one variable in customers’ overall perception of their experience, however. There’s a psychology involved with waiting.
If you’re a RouteOne eContracting dealer, you’re enjoying faster funding times while providing your customers with a smoother buying experience. You save time because information populates from your RouteOne credit application, your DMS, or wherever your deal begins, into a RouteOne eContract. The entire process is designed to reduce duplicate data entry. And let’s not forget about the cost-savings. Our data shows that most dealers will save an average of $23 on every eContract vs. a paper contract.
The connected consumer is now compelled to research and compare vehicles online before setting foot in your dealership. This digital vehicle shopper is drastically altering the buying and selling landscape.