Like almost every industry, the events of the last few years have led to fundamental change within the automotive sector and how it operates. Business models and ways of working that were previously bread-and-butter to dealerships have fast evolved. There is therefore an increasing demand on retailers to change their approach and remain at the forefront of the industry.

One way of achieving this is to maximise the use of the data that a retailer generates. Investing in an integrated sales management solution is key to making this happen, and this blog explores how it can help you enhance your business strategy, vehicle inventory, and most importantly, your customers.

Accurate business evaluations

Every successful business strategy today is guided by data. With the right information to hand, retailers can make better decisions about technology, people, assets and processes, and develop a long-term plan that has the best possible chance of success. Without accurate data available to enable this, it becomes much harder to identify the right areas in which to make investment, and to develop growth-focused strategies with confidence.

In the context of the automotive sector specifically, using data from the best-performing retailers or departments to identify where improvements can be made in others, can be a major driver of growth. An integrated sales management solution with real-time reporting can enable this, analysing productivity and profitability, as well as having the ability to benchmark figures group-wide or OEM-wide. This can help you find insights to guide strategies and identify suitable areas for investment.

Easy stock management

Smooth management of vehicle inventory has always been important in order to meet customer demand in the most efficient ways; delays in new car deliveries, and the resulting spike in used car demand has only increased its importance. This requires optimising available resources, reducing human error, and making the management of inventory as easy as possible, regardless of its size.

An integrated sales management solution can address inventory challenges in two areas. The first is the management of a detailed sales process, from preparation for sale through to purchase: the system can act as a hub for various third-party integrations that cover every stage of the process. These can include DMSs, dealer websites, VRM look-up providers, valuation services, FCA systems and finance.

The second is the easy and quick availability of up-to-date vehicle information, so that staff can see what’s in stock, how it’s priced and the profiling of popular models. A sales management solution can be used for stock level and management reporting, covering average time in stock, value orders, value fluctuation and other key metrics. These insights can be extremely useful for staying ahead of the competition and reducing risks associated with large vehicle stocks.

Satisfying customer demand

Stock should always accurately reflect customer demand, which means that stock management and inventory has to be managed carefully. Sales managers can use real-time data to keep track of progress here, through integrated calculations that incorporate accurate deal configuration and profit control.

It can also help with fast responses to changes in customer preferences and emerging trends, whether they’re seasonal, financial, environmental or technological. Keeping track of metrics in real-time, across used stock, part exchanges due, stock profiles and more can be used to identify these trends quickly, and help you make changes to stock before competitors sense the same opportunity.

In summary

A dedicated automotive sales management system, integrated with other core process systems, makes it easy to maximise the use of all the information you have at your disposal. That way, you can make better business decisions, increase efficiency and stand the best chance of staying one step ahead of the competition. It can also put you in a prime position to easily adapt to whatever the future might hold, and help you drive growth and profitability in the months and years ahead.

Dealerweb Showroom can help you drive insights and better decision-making, as well as enhancing the efficiency of your sales and enquiry management. To find out how it can support your organisation, get in touch with our friendly team today to discuss your specific use cases.