While effective CRM use is critical to dealership success, many dealers aren’t using their CRMs nearly effectively enough, according to research from software provider VinSolutions and DealerKnows, a boutique training and consulting firm. They evaluated CRM usage across three categories and found that average dealers lag significantly behind best-in-class dealers in all three.
The study benchmarks were set by examining a select group of dealers who had evaluated their CRM usage and implemented a performance improvement plan. The study compared the best-in-class group to a representative sample of dealers from across the U.S., evaluating usage according to utilization, reporting and lead process. Results show that:
- Just 44 per cent of average dealers received regular automated reports from their CRM, compared to 83 per cent of best-in-class dealers.
- Average dealers reported an 11 per cent reply rate for emails sent through the CRM — best-in-class dealers reported a rate of 18 per cent.
- The average dealer set four fewer appointments per day than best-in-class dealers, leading to missed opportunities and lower profits.
“This study proves that using the CRM well is essential for dealers’ success,” says Mark Vickery, senior director of Performance Management at VinSolutions. “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.
Find full results of the study at: VinSolutions
