MSRP and Retail Pricing may not be the same thing. One of the most common questions I am asked from new dealers, just getting into the business, has to do with MSRP (Manufacturers Suggested Retail Price) and why we would encourage dealers to charge more to the customer that what the manufacturers recommend. As I share with dealers, the Manufacturers Suggested Retail Price, is just that, a suggestion. It doesn’t mean that you must sell at that price. As an independent dealer you have the right to choose whether you use the recommendation from the manufacturer or not. Because of …Read More
Have you ever stopped to think about what the core skills or competencies are that someone needs to know to run your business? As you are thinking about what it looks like for someone, other than you, to effectively run your business one day, this is a vitally important question to ask. Not long ago, I sat down at lunch with my mom and dad and we had this exact conversation. Asked them “What are the skills or competencies that I need to have in place to run the company one day?”
The conversation did a few things:
First, it opened up …Read More
I recently heard a fireman share how he & his fellow firefighters work to avoid disaster. He explained that the best way to deal with a serious problem was to be proactive in order to eliminate or minimize the problem before it occurs. His department invests their time in doing regular checks on the businesses in the area to make sure they are up to code, that the fire extinguishers are working and in the right place and that the smoke detectors are all functional. That way, a major fire can be completely avoided or, at the very least, minimized. …Read More
Almost every dealership, regardless of the products you sell or services you offer, historically have a slow time of year. As we travel the country working with dealers, we have seen all sorts of great ideas come alive as they work to keep their businesses afloat during the slow season and start the year in the black.
One great way to keep a dealership busy (and profitable) during the slow season is the effective use of winter service specials. So, what is a winter service special and how do you make it worth your time & money?
Simply put, winter …Read More
Who is your typical customer? Do you know? Grab a piece of paper and write down the answers to the following questions about your “typical” customer. What is their gender? What is their average age? What is their favorite radio station?
Got it? Now, next to that I want you to write your gender, your age and your favorite radio station. Do the two look anything alike? If you are like most owners or managers, your typical customer is simply a reflection of you! The same is true if you were to ask any other employee …Read More
What’s the first thing you do everyday? If you are anything like me, you sit down at your computer and look through your emails. Most of the time, I have an excessive amount of emails, but I’m only interested in a small amount of them.
When your dealership sends out emails, it is important to grab the attention of your customer or prospect – making sure that your email is one that they are interested in reading.
So, how do you make your emails standout and encourage your customers to read them? Over the last few years at BCI, we have worked …Read More
What is the difference between a satisfied customer and a loyal customer?
A few months ago, I was having an issue with my car. I took it to a shop that was just a few minutes away from our office. They fixed the issue, communicated with me promptly, and sent me on my way. It was a good experience. I was satisfied.
A few weeks later, I had another issue pop up and took my car back to the same shop. They called me with a quote that seemed a little high, so I did what anyone would do, I called my …Read More
The market is competitive and every customer is important. So, how are we supposed to standout and capture all the business we can? Well, we know that several things can help with this but the most important is setting yourself apart and you do that by "wowing" the customer through excellent customer service.
Did you know that 78% of consumers have bailed on a transaction because of a poor service experience? That means that almost 80% of all consumers will refuse to make a purchase due to not being “wowed” in your business. Let that sink in. Setting yourself apart from your …Read More
We were recently asked, "Who is responsible for determining the labor charge on each work order?"
Before we can decide on the amount of labor that can be added to the work order, we need the technician to diagnose or triage the piece of equipment. (Need Triage Sheets? Check out BCI's Dealer Toolbox)
If they are triaging the equipment, they will estimate the time needed to complete the repair on the triage form. If they are doing a full diagnostic, they will estimate the time needed based upon previous repair experience. That work order and diagnostic sheet will then go to the …Read More
We were recently asked- “We often hear of the importance of Flat Rating in our dealership. Why should we do this, and how do we get this info to start? How does this change with different conditions of equipment brought in?”
So, why should we use Flat or Standard Labor Rates (SLR)? It’s good for both you and your customer. From the customers perspective, it gives them the ability to know what the charge for the work is going to be regardless of the technician’s skill level. If they have an “B” or “C” tech working on their machine, the billable hours …Read More