Data is information. It’s available in abundance. Today’s dealer has detailed monthly and even real-time reports on sales, employee accountability, provider accountability, campaigns, customer interactions and information, market studies, and on and on.
If you print all these reports out, you could fill up a conference table with them and try to correlate the data from each into the others. It would take hours, perhaps days, to do so in an organized and efficient manner in order to create one report that puts the big picture into perspective.
Instead, most dealers read summaries of various reports because they don’t have time to delve into the details. They may see that leads are down and sales are down and not understand why. The may see that click-through rates are down on their website but not know why. The information and reports are fragmented, and therefore, their marketing efforts become less informed.
Remember, the purpose of a great report isn’t just to show you how you’re doing, it is to help you understand what is working and not working and why. It should illustrate how each piece of your marketing and sales budget is working in tandem with the rest.
Business management systems (BMS) such as String Automotive’s Dealer Positioning System (DPS) solve this problem by pulling in data and information from multiple sources and integrating it into graphical format that is understandable. It doesn’t skip over the details, it analyzes them and incorporates them into the big picture.
A good business management system can pull your dealer data and blend it with vendor data, and market data from trusted sources such as Dataium and Experian. This allows you to accurately measure your dealership performance, execute wisely, and dominate your market.