Strategy

VINCUE vs. Autoniq: Pricing and Appraisal Tools for Auto Dealers

  Many of today’s dealers can sum up their current pricing strategy with one phrase: “race-to-the-bottom”. It’s obvious that this approach is bad for business, but dealership owners across the country have been using it for years. Why? It’s because this “race-to-the-bottom” is the philosophy behind many pricing tools on the market today. They work …

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The 80/20 Principle Can Transform Your Dealership (and Change Your Life, If You Let It)

Baseball is 90% mental and the other half is physical. —Yogi Berra There’s a lot to unpack in that famous quote from Yogi Berra, the New York Yankees manager as legendary for his “Yogisms” as he was for his coaching. While Berra’s math doesn’t add up, his idea does: Seemingly small things can have an …

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5 Ways to Compete for Car Buyers… Without Competing on Price

Most car buyers choose a vehicle based on more than just price. Customer service, financing options, and resale value all play a role in their final decision. Dealers know this. They see it every day. But when it comes to competing for customers, most dealers default to their go-to strategy: lowering their prices. Dealership price …

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ZIP Code-Level Marketing: How Dealers Can Deliver Precision Ads to Customers

In 1963, concerned with the overwhelming volume of post-WWII mail it was delivering, the US Postal Service (USPS) created a five-digit identifier as part of its Zone Improvement Plan—now known as the “ZIP code.” The ZIP code succeeded in making mail delivery more accurate and efficient, but it also increased efficiency for goods and services …

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The End of Market Days Supply: Why MDS is Outdated and What You Should Use Instead

As another baseball season enters the history books, it’s interesting to reflect on how our methods of measuring players’ success have changed. For decades, people would talk about how a player’s batting average was their ticket to a place in the Hall of Fame. But with today’s sabermetrics, teams now can evaluate players in ways …

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5 Dealership Marketing Trends for 2020

Dealership marketing has changed drastically. Twenty-five years ago, dealership bought print ads, tv commercials, billboards, and classifieds listings. Kelley Blue Book was still a print-only pricing guide, and customers would visit numerous dealerships to find the best deal. Fast-forward to today. Customers spend 63% of their car-shopping time on the Internet and visit just two …

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The Dealer’s Guide to DealerSocket

NOTE: We have no affiliation with DealerSocket, nor do we earn anything for publishing this guide. Our goal is to provide objective, data-based information for dealers to make better decisions.  DealerSocket is one of the most popular automotive dealer management systems (DMS) on the market. With tools for both franchise and independent/BHPH dealers, DealerSocket claims …

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