We have had some much-needed good news for dealership productivity over the past few weeks. Parts of the United States are opening to nearly full capacity. The number of unemployed workers declined a bit as businesses brought back furloughed staff or hired new team members. And, vehicle sales picked up in May, averaging 12.2 million vehicles on an annualized basis, according to Autodata. While no one is popping any celebratory champagne corks, the positive headlines are a balm to our bruised economy.
However, the COVID-19 pandemic remains a real threat. Hot spots continue to flare, sending record numbers of people to the hospital. A large percentage of Americans are still hesitant to visit businesses in person, instead relying on the online platforms that have sustained their lives since mid-March. As a retail auto dealer, how do you maximize your opportunities to sell vehicles?
Digital options pay off in productivity
Since we have all been forced to rely on our online tools during the shutdown, more sales are taking place on digital platforms. A recent Cox Automotive survey found that over half of consumers plan to complete at least some portion of their purchase online. Dealers are encouraging customers to use online shopping tools, including online chat, virtual test drives, trade-in valuation, and financing calculators. However, simply providing online tools is not enough to differentiate your dealership from the competition for today’s consumers.