The road to success is filled with twists and turns. With new technology and empowered car buyers, the auto industry is constantly changing. Knowing where exactly to invest your time and energy can be confusing. The auto industry changes fast, and it’s often difficult to keep up. Here are four key areas to fuel your focus as you close the year and look ahead at 2020:
New Market Opportunities
Staying stuck with the status quo is a sure-fire way to watch your dealership become outdated. Leadership guru Warren Bennis once said, “The manager accepts the status quo; the leader challenges it.” Dealers who view challenges like margin compression, customer retention, and creating brand advocacy in a fickle and shifting market as insurmountable might want to rethink their career choices. Certainly today’s market is full of challenges that contribute to struggles unique to this time period, but the same can be said for today’s opportunities.
Today’s most famous buzz-worthy phrase is more than simply hype. Mobility-as-a-service, new technology, and data-driven decisions are all impacting the way the world buys, uses, and sells cars. This in no way means the auto industry is going away. The opposite is actually true. And dealers who pay attention stand to benefit in profound ways.
Human Capital Management
The auto business is less about selling cars and more about the people that interact with all aspects of the business. To put it simply: dealers who prioritize people, win. Your customers, your staff, the millennial generation entering the job market; it’s all connected. Our world gets smaller every day, and dealerships stand to benefit.
Today’s Automotive Buyer
Your next car buyer knows all about you. They’re spending hours and hours each day researching your inventory, your ethics, and your company’s mission. You can reach people in so many new ways if you’ve built the right digital strategy. And if you’re not keeping up, the time is running out!
You’re in the driver’s seat and the journey before you is full of possibility. Take control and prepare your dealership for a bright future. Get your copy of Drive to Success: A Dealer’s Guide to Navigating the Path to Profitability, today.