With the changing times, digitized automobile dealerships are becoming increasingly popular and fruitful. If you are planning to initiate an automobile dealership or revitalize the existing one, here are a few key steps to increase your service revenue in your automobile dealership:-
Have a Proper Strategy to Plan your Shop Hours in your automobile dealership
Cancellation is one of the fundamental truths of every dealership. You cannot avoid cancellation. No matter how good you are, there will be cancellations for the pre-bookings. It is inevitable.
When opting for pre-scheduled slot booking, always push the hours beyond the convention. If your shop hours are restricted to 6.00 p.m, make it a point to allow for booking till 7.00 p.m. Most of the days, you shall see a few bookings will get canceled. Ultimately, there won’t be any need to work more. But had you turned down the booking to abide by the shop hours you could have lost potential customers.
Overbooking is reasonable but definitely within limits such that if there are no cancellations, you can manage for human resources and material resources to cater to all the customers. Here comes the most important adaptation for the automobile dealership, which is flexibility. You have to take the calculative risk to witness revenue growth, but at the same time, you have to be aggressive when it comes to sales. While appointing technicians, you must pre mention your working strategies to avoid the risk of non-cooperation. Extra appointments and the balanced out strategy will gain sufficient high revenues within just a few months of dedicated follow-up.
Recover Revenue from Unsold and Denied Services
With proper identification and monetization of the declined work, you can create a full-proof strategy for your automobile dealership to recover revenue from all the declined work opcodes. Automated prompt services and mobile check-in processes have made things easier as it has reduced manual efforts and a lot of working hours. Automation of the follow-up process related to declined work is another crucial strategy to increase your service revenue.
Following up with the customer response can lead to a massive increase in logging of all the declined services over time. You can expect to recover at least one-fourth of the revenue from denied benefits with the correct strategy. Here are some tactics:
- You can use infographics and real-time pictures of damaged parts and after service, images to convince the customers about the proficiency of your work and expertise.
- Customer-friendly policies can also be immensely useful in recovering revenue back. You can ask the BDC agents to follow up with the customers individually.
- This brightens up the image of your dealership and also builds strong customer trust.
- Follow up scripts must reflect the true essence of urgency that is deserved.
You can try to give sophisticated and friendly reminders to the customers or forward pre-scheduled friendly voicemails. You can also palace other lucrative offers forwards, initiate coupons and discounts to attract consumers. Whether the customer will ultimately choose you for the repair or not is their choice, but you must leave no stone unturned and be persistent with your efforts.
Try to Merchandise Appropriately
Do you know what can boost your revenue by manifolds? Selling the first tire to your customer. Yes, it might seem obsolete and trifle, but it is a firm foothold. Selling the first tire to your customer means initiating merchandise with the customer. If the product turns out to be a quality one most likely to be, you can stay assured that the customer will become a regular one. One of the most vital leakages that you need to stop is the failure to sell the first tire to your customer. The service lane is crucial for an automobile dealer, but so is the merchandising route.
If you can create a profound image of the customer at the first go and succeed in proving that you have plenty of options to offer to the customer in subsequent days, you will observe that it increase your service revenue.
The bottom line is:- You have to give a robust reason for the customer to get back to you every time. During every visit, you have to ensure that you keep the next visit’s avenues open for the customer. This is the one simple trick that will considerably increase your service revenue.
Ensure Proper Communication Among Staff to Stop the Wastage of Working Hours
Wasting working hours for futile reasons can decrease the revenue massively. A simple mathematical calculation will bewilder how much time one employee of your dealership firm spends on tasks that can be easily handled with proper coordination. If you can catch up with the employees and technicians over the telephone and messages, you can prevent time. Time is money, and thus, time lost is money lost. When we have the technology to help us, why not use its full potential to benefit from it?
This was a list of the 4 tips to increase your service revenue. So, make sure to use these and practice smart work consistently to optimize your revenues.