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How Independent Auto Groups Can Increase Profits - Part 2

How Independent Auto Groups Can Increase Profits - Part 2 Featured Image

Knowing the right KPI’s to increase sale profits.

Team DealerVERO Blog Author Photo Team DealerVERO - Apr 09, 2018

Now that your mindset is right, you are ready to begin to look at where you are today. 75% of independent auto groups don’t know their most basic marketing key performance indicators. It is this lack of knowledge that makes everything so confusing.

I always start by saying that a dealership should learn to walk before they can run. Don’t worry about complex attribution models or conversion tactics. Start by putting everything together into the same categories. (In order to do this you will need a good CRM or other tracking tools to gather your data). If you would like DealerVero to help you with this process, simply contact us for a free evaluation. Here are the top three marketing and sales KPI’s you should be looking at.

  1. Monthly Visits (Digital, Phone Calls, Showroom Visits)
  2. Lead Volume (Captured Customer Information)
  3. Sales Closed (Vehicles Sold)
  4. Bonus: F&I Products Sold Per Sale (Insurance and Ancillary Product Sales)

These basic figures will allow your store to establish a baseline for your marketing efforts, and use that when interacting with other product providers (P.S. If you would like DealerVero to help you with this process, simply contact us for a free evaluation). Let's take a look at a store we work with as an example. Here are their figures for an average month:

  1. Monthly Visits: ~ 3,000
  2. Lead Volume: ~ 125
  3. Sales Closed: ~ 35
  4. F&I Products Sold Per Sale: ~ 1

With this information, we can see that our example store has:

  • Sales|Visits: ~1%
  • Sales|Leads: ~28%

This baseline of our marketing efforts is so key to understanding how to improve and increase profits in our store. Remember as we talked about in Part 1, begin with the right mindset and you will uncover opportunities to increase your sales.

Independent Automotive

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