Minimize Risk by Maximizing Technology for Inventory, Acquisition, and People Performance

April 4, 2023

If you want to reduce risk, you need to start paying attention to your used car operations. The simple fact remains that the industry is fluctuating at speeds many are unprepared for. What works today might not work tomorrow. The trends of yesterday will resurface and disappear like waves in an ocean. So how do you stay on top of trends to help you break away from the pack? Managing expectations, rightsizing functions, and maximizing talent…that’s how. For many that might be easier said than done. So, the question remains, “Where does one begin?” That part is easy and starts with your technology.

You see, technology is the difference maker for modern dealerships. But not every solution is created equally. If your tools are outdated, utilize dirty data, or are designed to hinder workforce performance, then your dealership will struggle to be dynamic in the coming months. Instead of being left in the dark, bring in illuminating technologies that integrate with one another and enhance the overall experience for your customers and employees. This is how you minimize risk while maximizing productivity in every corner of your store.

One way to do this is by managing customer expectations. Marketing and advertising have been long-standing friends of the automotive industry. Especially for retail, selling cars has become more than just a transactional occurrence. The customer journey, consumer engagement, and shopping experience have evolved tremendously over the past few years. It’s up to you to provide the digital and physical touchpoints that people are searching for. Your ads need to be written in a manner that is clear while still optimized for SEO. Your inventory needs to be syndicated out to multiple feeds. And your properties need to be discoverable, digestible, and discernable. Shoppers know what they want and expect you to be able to meet their needs. Show them that you understand what they are looking for and give it to them.

Beyond that, it’s up to you to rightsize the functions of your dealership operations and communications. Right now, you have control over your inventory, where you acquire it, and how you manage those vehicles. Utilize technology as a way to streamline where you get your cars and what you do with them. From consumer acquisition to pricing, your dealership directs the interaction between functions and technologies. Bring in solutions that help you stock and teach you how to sell. Don’t guess a second longer about how to be competitive. Break free from the pack with technology solutions that help you appraise correctly in a manner that enhances the customer experience. Every aspect of your success involves technology. So don’t take your solutions for granted.

Finally, when you have everything in place, it’s time to enhance your efforts by maximizing the talent at your dealership. Whether you are employing seasoned salespeople or have a fresh workforce, the technology you provide your staff helps them elevate your dealership to the next level. Train them appropriately with tools that teach about off-brand features and packages. Empower them to provide transparency to customers during a walk-around and appraisal process. Then, enhance your team’s ability to communicate with consumers digitally and in person. Your tech stack is critical in maximizing the skills of your staff. Don’t skimp on providing solutions designed for their success. The better trained and capable they are, the higher your employee retention rate will be.

No matter where your dealership is with its technological maturity, do your due diligence by evaluating your solutions and employing tools that are created to help you reduce risk and augment the best features of your dealership. Data is your go-to partner in achieving all of your operational goals. Stop gambling and losing by utilizing underwhelming technology that was designed for yesterday’s dealership. Winning begins with a partner that understands the needs of the industry while anticipating the unique qualities that make your store stand out. 

As we continue to press on into the new year, now is the time to be competitive. Experience peak performance with next-generation technology designed with your dealership in mind. MAX Digital has the tools, people, and solutions necessary to launch your store to new heights. Want to find out how? Schedule your free consultation today.