Covid-19 will likely go down as one of the worst unexpected market upsets for the auto industry. Never before, in our lifetimes, have car dealerships been mandated to shut down for such a long period of time. This dealership downtime is unfortunate for all involved. It is a situation that requires strength and leadership. Every cloud has a silver lining, and the Covid-19 crisis is no different. The strong dealerships that survive this upset will be the ones that make the best use of downtime and take the right steps. Learn how to turn this awful, negative situation into a somewhat positive one with these tips.
- Being Closed Means You Have Time On Your Hands
- Learn How To Make The Best Use Of Your Time Closed
- Read About How To Bounce Back In A Big Way When You Open
Take The Time To Reevaluate Spending
Dealerships are closed in many states. Right now it is the perfect time to dive into the business end of operations. Use the dealership downtime to reevaluate where every dollar of expenses is going. Make sure you are using the right vendors. If you have been seeing the writing on the wall with a vendor for a while, it is a good time to make a clean break. You will have a valid excuse. Your dealership is obviously closed and your service department is slow. Many businesses are losing revenue right now, because of shut-downs and social distancing requirements. It is a great time to streamline. Look into integrated platforms that perform multiple functions, like DealerJazz.
Seek Out New Solutions To Problems
In a bustling, thriving dealership, you are always being pulled toward urgent but sometimes unimportant matters. However, during the next few days/weeks you will have plenty of time on your hands to tackle the big, important, but not urgent projects. It is a great time to develop new technological capabilities within your team. Keep team members engaged by interviewing them about ongoing problems and bottlenecks. Compile a list of all of the issues and schedule a video meeting to brainstorm solutions. A member of your team may have some fantastic ideas that you could tap into. Team members can split up projects and research possible solutions. Ask a team member to present the findings to the group in a presentation via Zoom. You may be surprised at what they come up with.
Dealership Downtime Allows Your Team To Sharpen Skills
Is there a new technology platform or skill that you have been interested in, but that you thought would take you some time to learn? Well you have time now. Get sharper in using the technology platforms that you currently have, and look into new possibilities that could help you improve efficiency in the future. At our Digital Platform DealerJazz, we find that customers who take a little time to learn how to use the system get a much Higher ROI percentage on their subscription price. Grab a mug of hot tea and settle into a desk or your kitchen table, and learn how to use tech that will make your organization more efficient in the long run. Even just taking some time to improve your typing speed will allow you to be more effective when your dealership opens back up for business.
Forces You To Become A Better Virtual Marketers
Before COVID-19 became a serious threat, many dealers scoffed at the idea of getting customers to take virtual test drives. But as soon as this crisis became critical, dealerships were clamoring to provide a virtual contact-free customer experience. With many sources predicting that the crisis could continue for several more weeks, if you haven’t begun providing this service, you should start now. In the long run, it is going to be very valuable to provide customers with a virtual car buying experience. Getting this up and running does take some creativity and some planning, but once this is going it could come in handy long after this current moment in time. Put your brightest minds on this task and try to be very open to creative new solutions.
There Will Be Less Competition
The fact is, that some businesses will not make it through a prolonged closure. There are many variables to consider. However, even if businesses survive, they are most likely going to be spending less on ads, which means a lower cost for everyone who is advertising. While the grim thought of losing your dealership is a harsh reality, it is one that you will need a plan in order to prevent. Organizations that are bloated with unnecessary expenses will have a much harder time being agile. Take a close look at the subscriptions and vendors that you do have, and see if you can find similar service at a lower price. Or use a fully integrated platform that provides multiple benefits and automation like DealerJazz.
“It has been my observation that most people get ahead during the time that others waste.”
-Henry Ford
Eventually, Downtime Will End
Although the dealership downtime situation is completely out of our control, there are some things that we can control. We can control our attitude, the amount of preparation we put into the weeks after the crisis, the skills that we learn while we work from home, and the costs that we accept when our doors open back up. Have an open mind about trying new things, and learning new things. The actions you take now are going to ripple and cause big waves for your dealership down the road. Until we are all able to open back up and conduct our business for the benefit of our hard-working customers, we must do all that we can. Take these steps and turn our current stay-at-home orders into an opportunity to get better. That way you will be ready in a few weeks when demand bounces back. We at DealerJazz hope that you and your whole organization stays healthy and thrives when the COVID-19 Crisis is over.
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