Research analyzes CRM usage of average versus best-in-class auto dealers
MISSION, Kan. (December 13, 2016) — A recent study co-released by VinSolutions and DealerKnows provides new insight into the automotive industry’s overall CRM usage and its effect on dealership performance. VinSolutions, a leading dealership software provider, and DealerKnows, a boutique training and consulting firm, report that the average dealer struggles to use their CRM effectively in several key areas, but that effective CRM usage is tied to overall dealership success.
The CRM usage benchmarks in this study were set by examining a select group of dealers who had evaluated their CRM usage and implemented a plan to improve performance. The study compared the CRM usage of these best-in-class dealers to that of a representative sample of dealers nationwide. In both groups, CRM usage was evaluated across three categories: utilization, reporting and lead process. In each category, average dealers were shown to lag significantly behind best-in-class dealers.
Some key findings from the study include:
- Only 44 percent of average dealers received regular automated reports from their CRM, versus 83 percent of best-in-class dealers.
- The average dealer reported an 11 percent reply rate for emails sent through the CRM, compared to 18 percent for best-in-class dealers.
- The average dealer set four fewer appointments per day than best-in-class dealerships, leading to fewer opportunities, missed customer connections and lower profit.
“At VinSolutions, we’ve always believed that the CRM is the most important piece of technology for the modern dealership,” said Mark Vickery, senior director of Performance Management at VinSolutions. “This study proves that using the CRM well is essential for dealers’ success. Although many dealers still have some work to do to get the most value out of their system, we hope this research will be the inspiration they need to start using their CRM more effectively.”
To view the full results of the study, as well as actionable steps for dealers to improve their CRM usage, download VinSolutions’ CRM Usage Report at www.vinsolutions.com/whitepaper
To learn more about VinSolutions, visit www.vinsolutions.com
VinSolutions helps make every customer connection count by providing individual dealers and dealer groups with sophisticated yet easy-to-use software solutions that span the scope of dealership operations. With its cloud-based system, VinSolutions’ all-in-one internal management, sales and service marketing solutions platform is accessible from anywhere an Internet connection is available, including mobile devices.
VinSolutions has been named to the Inc. 5000 every year since 2011 and has received numerous industry awards for its innovative products. VinSolutions is OEM certified by every major manufacturer and is Autosoft, CDK, Reynolds & Reynolds and Dealertrack DMS certified. Founded in 2006 and headquartered in Mission, Kansas, VinSolutions is a Cox Automotive™brand. Visit VinSolutions online at www.vinsolutions.com.
Author: Digital Dealer
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