EP 9:26 Stop Losing $1.4 Million in Annual Dealership Revenue: Mastering CRM Strategies and Missed Opportunities

Millionaire Car Salesman Podcast

In the latest episode, Sean V. Bradley dives into an exclusive recap of the Cox Automotive VIN Solution CRM Masterclass – an event that brought together over 250 rooftops and even Toyota manufacturer reps for a deep dive into the future of CRM technology in the automotive industry! 📊✨ "A CRM set up the right way increases gross profits dramatically. But a broken CRM is loaded with incorrect action plans, statuses, templates, and scripts. And that's costing your dealership up to 1.4 million dollars a year." - Sean V. Bradley Joined by Jenna Blankenbiller, Sean unpacks the game-changing strategies and insights shared at the event, emphasizing how a well-utilized CRM can be the key to unlocking higher lead conversions, improved communication, and maximized profitability for dealerships. 🎯 “You have to schedule, at least at a minimum a one-on-one with your PM monthly." - Jenna Blankenbiller

If you're looking for ways to elevate your dealership's approach to CRM – from automated email strategies to leveraging social media DMs and AI – this episode is packed with firsthand experiences and actionable advice that you don’t want to miss! 💡

👉 Missed the Masterclass in Chicago? No worries! VinSolutions users can still get in on the action. Reach out to [e-mail] to schedule your FREE CRM Audit and make sure your dealership is set up for success in 2025!

Key Takeaways

• CRM Optimization: Utilize the full potential of CRM systems to uncover significant growth opportunities through enhanced lead handling and communication strategies including automated video emails and AI integrations.

• Data Capture and Utilization: Emphasize comprehensive data capture in CRM systems as a foundation for meaningful customer engagement and improved sales opportunities.

• Text Messaging and AI Integration: Leverage text messaging capabilities within CRM software to increase engagement and use AI to streamline and improve customer interaction processes.

• Roundtable Insights: Learn from the diverse perspectives shared during the roundtable discussions, particularly on showroom sales, Internet BDC, and reporting analytics.

• Organization and Resourcefulness: Effective CRM usage demands a disciplined approach where human resources focus on higher-level strategic engagements, supported by automated systems.

About Jenna Blankenbiller

Jenna Blankenbiller is an accomplished automotive industry expert, having spent 12 years honing her skills with significant experiences at independent dealerships and Bob Ruth Ford, where she played a pivotal role in expanding their Internet department from selling 75 units a month to 356 units. Recently, she has joined Dealer Synergy as the Director of Dealer Relations, bringing her extensive expertise and innovative strategies to the executive team. Jenna’s background includes roles as an Internet Director and General Sales Training Director, and she has been featured prominently in automotive industry publications and events.

Resources:

Podium: Discover how Podium's innovative AI technology can unlock unparalleled efficiency and drive your dealership’s sales to new heights. Visit www.podium.com/mcs to learn more!

Dealer Synergy & Bradley On Demand: The automotive industry’s #1 training, tracking, testing, and certification platform and consulting & accountability firm.

The Millionaire Car Salesman Facebook Group: Join the #1 Mastermind Group in the Automotive Industry! With over 28,000 members, gain access to successful automotive mentors & managers, the best industry practices, & collaborate with automotive professionals from around the WORLD! Join The Millionaire Car Salesman Facebook Group today!

Win the Game of Googleopoly: Unlocking the secret strategy of search engines.

The Millionaire Car Salesman Podcast is Proudly Sponsored By:

Podium: Elevating Dealership Excellence with Intelligent Customer Engagement Solutions. Unlock unparalleled efficiency and drive sales with Podium's innovative AI technology, featured proudly on the Millionaire Car Salesman Podcast.

Dealer Synergy: The #1 Automotive Sales Training, Consulting, and Accountability Firm in the industry! With over two decades of experience in building Internet Departments and BDCs, we have developed the most effective automotive Internet Sales, BDC, and CRM solutions. Our expertise in creating phone scripts, rebuttals, CRM action plans, strategies, and templates ensures that your dealership's tools and personnel reach their full potential.

Bradley On Demand: The automotive sales industry’s top Interactive Training, Tracking, Testing, and Certification Platform. Featuring LIVE Classes and over 9,000 training modules, our platform equips your dealership with everything needed to sell more cars, more often, and more profitably!

Revolutionizing Automotive CRM: Leveraging Technology, Strategy, and Analytics to Maximize ROI

In the rapidly evolving automotive industry, the role of customer relationship management (CRM) is pivotal. As dealers navigate increasing competition and shifting consumer behaviors, the integration of advanced CRM systems like VIN Solutions becomes essential. This article explores the insights shared in a enlightening conference featuring industry experts like Sean V. Bradley and Jenna Blankenbiller, who discussed strategies for capitalizing on CRM technology to boost dealership performance.

Key Takeaways

• CRM Optimization for Financial Gain: Dealers can increase their annual revenue by $1.4 million through effective CRM management, highlighting the financial impact of a well-structured system.

• Comprehensive Use of Technology: Integrating AI and automation into CRM systems can significantly enhance engagement and conversion rates.

• Data-Driven Decision Making: Effective use of CRM analytics and reporting can pinpoint opportunities for sales growth and operational efficiency.

CRM Optimization: A Path to Elevating Dealership Profits

In a saturated market where differentiation is vital, Sean V. Bradley elucidates the economic benefits of an optimized CRM system. By identifying inefficiencies and leveraging existing CRM capabilities, dealerships can save up to $1.4 million annually. "Most dealers only utilize a fraction of their CRM's capabilities," Bradley stresses, underscoring a widespread industry oversight.

He breaks down the potential savings, explaining how dealerships can reallocate funds previously spent on obsolete advertising methods into maximizing CRM tools for better sales strategies. This shift not only reduces unnecessary expenditures but also enhances customer interactions. As Bradley puts it, understanding and leveraging CRM tools for "data mining, equity mining, and service conversions" is integral for dealerships aiming to boost their sales strategy.

Beyond cost savings, CRM systems equipped with advanced features like VIN Solutions facilitate a streamlined sales process. By automating repetitive tasks and utilizing targeted marketing insights, dealers can tailor their approach to individual customers, thus driving higher engagement.

Technology as a Game Changer: AI and Automation in CRM

The cutting-edge capabilities of CRM systems, particularly through Artificial Intelligence (AI), were a focal point in the conference discussions. A significant insight shared by Nelson Lyles was the effectiveness of leveraging text messaging through VIN Solutions to increase customer engagement. Lyles highlights, "As managers, don't just be focused on attempts, attempts, calls, calls, calls. It's about the connections."

Text messaging, when integrated through multimedia capabilities, enhances communication efficiency and boosts response rates, with 96-97% of texts being read. Moreover, AI enables automated responses, personalized follow-ups, and insightful data collection, which are crucial for developing a robust customer service strategy.

This technological evolution allows dealerships to maintain a consistent customer follow-up routine, as discussed by Blankenbiller. She advocates for utilizing tools like automated video emails and multimedia text messages to improve interactions, illustrating how these tools yield "increased engagement and conversions."

Data-Driven Decision Making: Harnessing the Power of CRM Analytics

The strategic use of CRM analytics and reporting emerged as a critical component for operational success. Kevin Schmidt of VIN Solutions emphasizes the importance of data capture and the utilization of reports like the "Dealership Performance Report" to refine business strategies. By diligently analyzing these reports, dealerships can identify patterns, forecast trends, and ultimately, increase sales.

Blankenbiller champions the "Coaching Dashboard," which provides a snapshot of sales team performance. This tool is vital for identifying areas needing improvement and reinforcing successful strategies. "If you're not using those at the first, middle, and end of your month for check-ins, you're missing out," she asserts.

Such detailed analytical tools empower dealerships to transition from reactive to proactive approaches in their sales strategies. Utilizing these insights allows for more informed decisions, enhancing both individual and collective performance within the sales team.

Capitalizing on CRM Strategies to Drive Success

The insights from industry leaders illuminate the transformative potential of advanced CRM systems. Integrating features like automation, AI, and comprehensive reporting not only streamlines dealership operations but also drives significant financial outcomes. For dealerships striving to excel, embracing these advanced CRM functionalities, as endorsed by the speakers, offers a robust path towards technological and economic advancement. As Blankenbiller aptly points out, the key lies in not just accessing these tools but committing to learning and leveraging them to their fullest potential.