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On a recent hike, I had quite a bit of time to reflect on the similarities of lessons learned on the trail and lessons learned in the dealership. When you’re all in, and you don’t have any other choice but to keep going, you’ll find a way to reach the top.
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Even when supply and demand return to more normal cycles, the use of digital advertising technologies can put more power into the hands of each dealer and raise profit potential at the end of each month and year.
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We live in an ‘Age of Compliance Awareness’ and someone is always watching. We should care about what they see.
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If you haven’t had good luck in hiring F&I managers from other dealerships, you may want to consider developing a bench for F&I managers. With a plan and some patience, you may find you have a “good one” already working for you.
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The real finesse in F&I is managing your relationships. If you can master your ability to connect with others, you will master this profession as well.
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While age and demographics can give you a good starting point for selling, they won’t tell you everything. Knowing more about your customer is a major advantage as customers become more accustomed to not only personalization, but the speed and convenience it affords the sales process.
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The needs arising from the pandemic have accelerated the needs of dealers to welcome digital innovation and the ability to provide an enhanced customer digital retailing experience will accelerate your revenue growth and drive loyalty.
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Whether we choose to keep a leaner staffing model, hire a different caliber of employee that requires more compensation, or grow our expectations for what we can sell per month, there is no looking back — and that is good for business.
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Video is a great way to reach customers to communicate how they want to receive their vehicles.
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By all reports, billions of records have been exposed by reported data breaches. If the unthinkable occurs, having a well thought out data breach response plan will help you manage the challenges you will face.
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