Individual dealerships can take a lesson from current events. Everyone knows how violently the industry has been criticized recently. However fair or unfair this scrutinizing has been, we’ve been given some food for thought.
The last thing you want to do is cut salaries and benefits. You want to keep employees on your side. But what about practices that are comparatively unsuccessful? Are you paying premium prices for average service? Take some time and review your monthly bills. Are you paying vendors more than they’re worth?
Measurement becomes imperative in less-than-ideal economic climates. Tie all of your individual marketing efforts to the leads and conversions they’re bringing in. Make sure to use unique tracking numbers on advertisements. Which of your ads are performing well? Which needs to be retired?
Look at your expenditures with a critical eye. Trimming the fat doesn’t necessarily mean tightening the belt, but it always means streamlining.