As of 2022, there were more than 16000 car dealerships in the United States of America. Evidently, most of them are small businesses.
Remember Darwin’s theory? Survival of the fittest?
Much like living species, businesses act similarly.
Simply put, these few big companies are gobbling up the small businesses, especially in car dealerships. But why and how?
Well, the answer is not much difficult to guess. It’s because many of these 16000 car dealerships around the U.S. are franchises and dominate the rest with their existential business establishments.
Furthermore, the pandemic led to a production shutdown due to tight inventory. But not for long.
According to a recent report by Mordor Intelligence, the US automotive dealership market is expected to reach USD 257.3 billion. This registers a CAGR above 4% over the next five years.
Key Reasons For The Resurgence Of Car Dealerships In The U.S.
First things first!
Although the car dealership business was vanishing into thin air, the fog lifted with the end of the pandemic. This notable resurgence in car dealerships happened for many reasons, primarily -
- Drop in public transportation usage: With public transportation dropping in numbers due to safety concerns, car dealerships' needs, and usage boomed.
- First-time car buyers: With a rapid inflow of people into urban areas with respect to returning to work, people tended to buy cars for safer mobility.
- Omnichannel presence: Digitalization boomed in the past couple of years. As businesses took their businesses online, customer reach and sales increased.
- Automation: Automation revolutionized how car dealership businesses work. Whether you have a business development center or not, automation gave a new outlook to the art of sales and support and streamlined processes. This helped businesses take a new competitive advantage over their competitors.
Now that we are talking about 16000+ car dealerships, every business needs an X-factor to stand out, and a strong, unbeatable sales and support strategy to win and retain customers.
How Convin Can Push Your Car Dealership Business?
Let’s talk about the front line of your business. Clearly, it's the BDEs and agents. They are pretty much the first point of contact for your customers. So that contact needs to be crisp, memorable, eye-brow raising, and compelling.
But how do you make that happen without compromising on time, effort, and your tasks?
This is where Convin helps. Through this blog, we want to focus on the front line, where the main selling and support happens.
Whether you are outsourcing services through contact centers or have your dedicated in-house team, Convin fits in the sweet spot to make your business smooth and streamlined.
Here are some ways Convin becomes the go-to software for your car dealership business.
1. Beating Agent Attrition
Agent retention is a big problem in the industry, especially in contact centers. According to Everest Group Research, the approximate financial loss for a 500-person contact center due to agent loss and recruiting can reach $2 million in one year.
Convin focuses on boosting your agent performance through peer-to-peer and automated coaching. With its comprehensive learning management system, you can ensure every agent is looked after and ramped up equally.
2. Extract Actionable Insights
Every rep-customer conversation contains mines of data that can help get actionable insights. Manually auditing these calls cover only 1-3% of conversations. Convin’s omnichannel call center audits 100% of conversations, including calls, chats, and emails.
This automated call center quality assurance software also drastically contributes to agent onboarding and upskilling. Auditing these conversations paves the way for a room for improvement.
3. Get Customizable Reports
To provide a quantitative visual of what’s working and what’s not, Convin generates customizable reports. These reports can be configured according to the parameters you want to focus on, including call center metrics, call center compliance, script, etc.
4. Enhance User Experience By Integration
Convin integrates with your existing tech stack to give the best user experience. Dialers, team messaging, video conferencing, CRM, you name it.
5. Recession-Proofing Your Business
Last. Still, not least, as we started with addressing how the pandemic had shaken the world of the car dealership business, it won’t be wrong to say that we should always be prepared for the worst.
To make the most out of your tech stack, it shouldn’t only be efficient, comprehensive, but low-cost too.
Read more on recession-proofing your business with a contact center here.
There are a lot of other features that Convin offers, and if truth be told, you’d be surprised to see how it can uplift your business. If you want to automate your car dealership business, feel free to get in touch, and we will show you how Convin operates.
It’s time to focus on the front line, reduce agent onboarding time and ramp up your agents by 60%.
Results first, payment later.