Is your DMS increasing profitability?

Posted by Nathan Elliott on 18-Jun-2018 10:38:00
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I’ve got some questions…

Your DMS is there to measure, report, input jobs and provide clarity and transparency when it comes to your internal processes and communications, right? But, what about the customer?

Dealership Management Systems are made for the dealer; designed for the dealer and used by the dealer. This means that the software improves internal processes and makes the staff’s lives far easier. But, what about the customer?

A study by Hazard Business School shows that just a 5% increase in customer retention can lead to an increase in profits by up to 95%. And we all know that customer satisfaction is the key to retention, so why are DMS systems not more tailored to delighting the customer?

Is Your Current DMS Increasing Profitability 1

 

The power’s in your hands, or is it?

The customer is in control. Pleasing them needs to be top priority. In this industry, automotive repair and customer service is notoriously complained about. Customers report lack of communication, unexplained issues and broken promises, just to name a few. All of this could be easily solved with a DMS that enables you to provide a customer-focussed, customer-first operational process.

If these issues are resolved, customers will be satisfied, they’ll enjoy coming into their dealership and spend more time and money there. Customers want to choose how and when to interact with dealers- this is the future of profitable dealerships. 

And there you go, you’re back in control of your own profitability.

Is Your Current DMS Increasing Profitability 2

 

The future of DMS needs to tune in to the human connection aspect of customer service.

A study by Walker revealed that customer experience will overtake price and product as the key brand differentiator by the year 2020. Another study by Gartner stated that by 2018, more than 50% of organisations will implement significant business model changes in their efforts to improve customer experience. There are so many of these statistics around, as it is increasingly the case that the customer dictates the profitability of your company.

The complaints about current DMS systems are reoccurring and consistent- the systems are outdated and are not user-friendly. Future-proof your dealership with an innovative, tech-first DMS that evolves with you and your customer to increase your profitability. 

Are you losing out on profitability purely because of an outdated DMS? 

 

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Topics: retention, customer experience, profit, dealerships, customer satisfaction, dms, communication