Disappearing Data: When Information is Not Making a Difference for Your Dealership

Apr 30, 2013 | | 11580 |

Disappearing Data: When Information is Not Making a Difference for Your Dealership

By Ryan Morrison

What if you could project how your month would end on the 7th of the month?

What if you had at-a-glance access to your business vulnerabilities and projected losses?

If you could see that data, you would take the time to correct those issues, right?

Most dealerships today rely on some type of Customer Relationship Management (CRM) system to keep track of customers, their information, sales contacts and follow-ups.

But, most dealerships don’t do a good job of actually using that valuable data in a way that drives decisions and ultimately growth. Worse, they might not even be tracking the right data to be useful—meaning, they’re wasting valuable time and resources.

If You Can’t See it, You Can’t Fix it

Today’s market has plenty of business intelligence software solutions, and dealerships are wise to review each of them carefully.

Finding the right business development intelligence solution is no easy task, but there are key points to look for:

  • At-a-glance access to the data that makes a difference to your dealership—with the right business development intelligence solution, you’ll get a dashboard that lets you quickly identify your business vulnerabilities, projected losses and other important, difference-making data … all in time to make a difference. If you can see it, you can fix it. It has to be easy to review—every day.
  • Compatibility and integration with your CRM solution—instead of just tracking customer contact information, the right business intelligence solution will project your month-end financials early in the month, compare this month’s performance to last month’s performance, set and achieve goals, and organize basic dealership processes.

The right solution will also automatically import data from your CRM and key dealership technologies. That is, manually entering the same data in multiple systems is a process that’s rife with potential for errors, and worse, wasted time. When the business intelligence solution imports the data, however, you know it’s accurate and in near real-time. And, you can quickly and easily gain access to your dashboard and other data that makes a difference to your dealership.

Business intelligence solutions that offer dealership “coaching” are one more step ahead of the game. Even with the simplest access to the best information, it never hurts to have your coach on the sidelines, helping you understand your dealership data in new and unique ways that put you ahead of the field.

Staying competitive and profitable in today’s market takes a lot more effort—and access to information—than ever before. It’s no longer enough to track your customer follow-up efforts using a CRM; with the right business development intelligence solution working for your dealership, you can gather the data you want … and put the RIGHT data to work for your business.

 

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Authors: 
Ryan Morrison

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