Moving past challenges to unlock opportunity
January 28 is Data Privacy Day, which provides annual encouragement to individuals and businesses to respect privacy, safeguard data and enable trust.
Let’s say a dealership has successfully overcome concerns of trust, fair pricing and convenience — and won back customers that had been previously lost to other providers.
A 2020 study conducted by the CDK Research and Insights Team found that 74% of customers who opted to go outside of a dealership for service would consider visiting a dealership in the future.
Success in the Fixed Ops department is essential for dealerships. According to the 2020 NADA Data Financial Profile, dealers rely on their Service departments for 30% of their net profits.
How something as big as a global pandemic ultimately affects business takes years to assess — but as our industry has learned, waiting that long to adapt is not an option.