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If you have any doubts about the power of Social Networking just look at the results from this year's election. The Obama campaign was the first to utilize it and they raised a new record of $150 million in September up from their previous high of $66 million. A major part of that was accomplished through Social Networking utilizing everything from their presence on Facebook, Twitter, My Space etc to name a few, to connecting with people who held rallys in their homes and neighbourhoods. They also encouraged people to download phone lists and make calls and even offered the ability to "mine" your personal phonebook and match up demographics and then download that to your iPhone as a list to make calls when you had time. The McCain campaign eventually saw the power of this and has jumped in with both feet. The benefit has been the personal touch and the empowerment that cannot be retracted and has made everything more transparent now and in the future.
This has the same application to the Auto Industry and by engaging and interacting with your customers in a meaningful way that is important to them you will reap the benefits. Get a blog going and a presence in the Social Networking world and you will find that you will build lasting relationships that result in more sales and a higher gross profit that everyone has been looking for in this new economy. Don't you buy from people you have a relationship with and trust ? What if they referred you to a relative or friend that was in the market for a car, would that increase the likelihood of making a deal ?
To read more on the election and social networking: