[Posted on 7 April 2014 by Car Research]
As a car dealer, you need to take advantage of all of the tools available that can help your dealership grow and prosper. Of those tools that you need to have, one of the most important is a customer relationship management or CRM system. Not investing in complete dealer management software means that your business may be struggling in managing all of the diverse components of your dealership, which may result in leaving something on the table in terms of opportunity.
Knowing what CRM dealer management software means to the retention and management of your customer relationships is important if you are looking to grow your business. There are many benefits that CRM software has to offer and there are plenty of opportunities that are being missed by not fully integrating a CRM system in your dealership. Your customer relationships are important and represent a vital pipeline to increased revenue and continued growth. Enabling technology only found in a top of the line CRM system will help you reap the true value of those customer relationships.
What is Customer Relationship Management (CRM) Software?
CRM software provides you with a way to automate many of the functions and tasks that you may be doing on a manual basis. A well-integrated CRM software system uses the "big data" concept by capturing information about your customers (current and potential) and providing them with the information needed to make a car purchase decision. Your CRM should be able to see the types of inquiries made via email, your website or a car inventory listing that you have placed and use that data to personalize the customer experience. A more personalized experience translates into a customer who feels committed to your car dealership and willing to direct all of their buying decisions toward you.
What are the Benefits of CRM Software for My Car Dealership?
CRM software uses the notion of a customer lifestyle continuum, which is an 8-point cycle of how customers become and remain loyal to your brand. These 8 points include customer awareness of the products and services that you offer; research and comparison of product and service offerings; selection; purchase decisions; the relative experience of the customer; customer retention, which is key to repeat sales; customer loyalty; and, customer referral or word of mouth. Gathering the big data your customers provide via social media or other forms of electronic communication enable your CRM to provide you with the relevant intelligence needed to reach them where they are on the continuum and increase your sales.
What am I Missing By Not Having CRM Software Manage My Car Dealership?
If you are not employing a system of CRM in your car dealership, you may be lacking the most advanced way to collate data within your car dealership. Relying on different areas of your car dealership to share information and communicate regarding a customer can be labor intensive and the end-result may not as successful as what CRM software can do. Your need for real-time intelligence in order to make good business decisions is hampered by the use of manual technology over the power of a well-designed and implemented CRM software package.