Current statistics on dealerships reporting more than the current 25% of women in face to face positions in our dealerships across the nation show that within a four month’s period of reaching that percentage of women in their organization, they experienced as much as 35% gain in overall vehicle sales, new and used, and a substantially increased used car turnover. Not to mention an increase of desirable employee statements regarding company loyalty and goals toward longevity. How did they do it? Simple. They brought women into their sales, service, and management positions AND found ways of retaining them.
We are sure that you want the details on how to easily increase sales. We are positive you wish to build a more loyal and appreciative customer base, keep your employees excited and happily-compensated in long-term relationships with you. And it is clear that you would like to turn your dealership environment into a totally Yelp friendly popular facility that dramatically attracts the fast-growing women’s market and that of the millennials who are a big part of this. And definitely you wish to greatly influence the success or failure of sales efforts. Then read closely on how your dealership can do the same. What can you lose? Wouldn’t you rather find out what you can gain?
Considering the fact that 85% of all automotive purchases are either directly made by women buyers, or directly influenced by them, if we are not responding to this statistic then our dealerships are missing the boat. Totally.
ROI is a major driving force in how we consider the physical programs and offerings we put forth to the consumer in our efforts to entice them to visit our facilities. We do recognize that internet information access has affected profit margins, margins that were actually inflated by consumer ignorance as to how much flexibility in costs existed. The fact is that we simply cannot make the margins we used to, and have to find ways of addressing our concerns as survival efforts. Playing the numbers game of total sales for a month will eventually be passed with the money lost in potential profits. The bottom line is that we must place our investment monies into areas of concentration that will bring us returns that will not only keep us in business, but by their very nature helps us grow in our financial viability, viability that is attractive to women that may be considering this industry as a workplace.
Here are some reasons why we are not attracting women at this point:
So, how do we fix this, and not only bring talented women into our organizations, but keep them there as well?
With sales consultant turnover figures ranging from 72% to 80%, the highest turnover rate in this key dealership position of women consultants is at a shocking 90%. Turnover among millennials is presently at 54%. It is obvious we are doing a lot of things wrong.
Here are some realistic solutions:
Today’s women are time-constrained, pragmatic, comfort-conscious, and heavy into efficient and consistent communication with their employers. They are extremely effective at communicating within their own groups and friends, and pay little attention to advertising. They are direct with their customers and are especially effective at establishing meaningful rapport that translates into return business transactions built upon trust.
If we wish to survive, let alone prosper, we cannot wait any longer. Let’s do everything we can to attract these valuable women employees, and provide them with the incentives to keep them with us.
The time is now, not tomorrow.
Many of the statistics for this article were derived from the 2015 NADA Dealership Workforce Study, which can be obtained by signing in to NASA University Online, and searching 2015 Trends, or by calling their customer service at 800-557-6232.