Logging in to several different software programs to collect customer data and operational metrics. Spending valuable time combining that data to discover your dealership’s key performance indicators. And pulling your most actionable insights from various spreadsheets or printouts. If this scenario fills you with dread, it’s completely understandable. There is a faster, more productive way to integrate customer data, pull KPIs from your metrics, and put insights into action.

The solution to this important dealership function is a digital tool that consolidates all this data to help you optimize your sales, service, and marketing ops. With this information readily at hand, you can make informed decisions, meet customer expectations, and reach dealership, group, and industry benchmarks.

Gain Clear Actionable Insights from Your Operational Metrics

Consider the Importance of Customer Data

The customer data you’ve worked to gather can be used to maximize the value of each one. For example, analyzing the number of website visitors and social reach can help you identify marketing campaigns that work, and those that need attention. The percentage of first service visits can help you deliver a better service experience for your customers. And vehicle ownership data can help you pinpoint opportunities to drive trade-ins with personalized offers.

Identify Your Dealership’s KPIs

Knowing your dealership’s key performance indicators can help you stay competitive in your market by keeping your staff focused on the operational metrics that matter most.

Consider these KPIs to boost your variable ops profitability:

• Inventory turnover, average unit value, and wholesale volume
• Cost to market, reconditioning time, and used-to-new vehicle sale ratio
• Conversion rates and customer satisfaction

Keep your fixed ops profitable by tracking these KPIs:

• Average repair order (RO) value, hours sold per RO, and gross profit percentage
• Customer retention and net promoter score (NPS)
• Number of ROs per day, turnaround time, and labor productivity

Don’t forget to track your marketing efforts for higher ROI:

• Open rates and click-through rates
• Website visits and leads generated
• Email leads and conversion rates

Turn Actionable Insights into Actual Results

Has your store explored the SWOT analysis? It’s an in-depth self-examination that will help you pinpoint critical KPIs, discover areas of concern, and stay top of your market.

• Strengths are advantages your store has over your competition, such as a higher-quality vehicle selection or better customer service.
• Weaknesses are issues that may be external (visible to competitors) or internal, such as outdated technology or inexperienced staff.
• Opportunities are events that your store can leverage, including positive customer online reviews, competitor inventory shortages, and more.
• Threats are areas that competitors can exploit, and your store can potentially mitigate with added fixed ops services, attractive loyalty programs, and others.

Consolidate Your Data with an Integrated Solution

Your dealership’s data includes a wealth of information that can be used to drive peak success. From customer data to operational KPIs, you can conduct a SWOT analysis to help you get ahead of your competition and meet new goals. Affinitiv DealerLens can consolidate this information for you—giving you all key information at a glance in an easily digestible and widget-based dashboard. Even better, it enables you to view actionable insights across multiple rooftops, so you can compare data across one store, a group, or the industry. For more information on DealerLens, contact us today.