3 Steps to Gross Profit Increase

How to Build Trust and Value with Consumers

I’ve discussed the reasons why your sales staff needs to demonstrate its expertise on every unit in your dealership. Here’s how successful dealerships are doing just that. Mike Anderson Auto…

Trust in Professions

Consumers Want Product Experts, Not Salespeople

Here’s a news flash for you: car shoppers don’t want to talk with salespeople. Not only do they come to your dealership armed with more knowledge than most of your…

Amateur Knows More Than Pro

The Amateur Knows More Than the Pro

I’ve discussed the various issues that are putting gross margins under pressure. Those factors aside, there’s another barrier that dealers have to contend with—the fact that consumers come to the…

Double Discount Defined

Double Discounting is Hurting Dealerships

So far I’ve discussed two factors that are putting gross profit margins under pressure: market-based pricing and the impending increase in the supply of used cars. There’s a third element…

Chart - Used Car Supply

The Bubble is Bursting: Gross Profits Are Headed for a Fall

In my previous post I discussed why pre-owned profit margins are under pressure. The factors driving this trend include transparency from the Internet, market-based pricing, and rising overhead costs from…

Public Dealer Profits

Why Gross Profits Are Under Pressure

One of the greatest challenges facing dealerships right now is that profit margins are increasingly under pressure. Several factors are at play, but it’s clear that the Internet is making…

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24% Of Your Website Traffic May Be at High Risk of Being Intercepted By Your Competition

In my last post I discussed how to identify and measure your “true” SEO traffic. There’s an important implication of SEO traffic that I’d like to cover in this post,…

How to Demystify Where Your Website Traffic Is Really Coming From

At every digital marketing conference I attend, there are multiple presentations filled with dealers asking where online traffic is coming from. The truth is this information is readily available to…

How to Increase Profitability by Reducing Time-to-Market

Every dealer knows that the inventory that turns the fastest is often the most profitable. This is compounded by the carrying cost of the vehicle (often cited as $10 to…

3 Ways to Make Your Online Ads Stand Tall

My previous post explained the importance of converting your vendors to a pay-for-performance ad model. That is, knowing your cost per lead across your various online traffic sources. When it…

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