Category: Best Practices

At MAXDigital, we believe that imparting current best practices for various dealership operation is an essential part of our duties. These blogs aspire to help dealer principals, general managers, and others within the organization to understand what today’s consumer expects from the purchasing process, what are the most effective strategies for inventory and merchandising, and other vital functions that allow a dealership to succeed in the current market.

Digital Retailing & Your People Strategy

September 17th, 2019 by

By Candice Crane Carvana continues their record growth, just reporting their 22nd consecutive quarter of triple digit revenue growth with a 95% gain in volume year over year further demonstrating the buyer appetite for a new model. As I talk to dealers they know they need to move down a new path, but many times […]

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Hunting for Gross Profits

September 10th, 2019 by

By Mike Cavanaugh, Executive Vice President at MAX Digital Hunting for profit is a pretty universal theme in business, but in the auto industry, especially on the retail front, it’s got its own special set of challenges. Within Automotive, the retail sector has had the most compressed margins. A recent McKinsey study shows the gap […]

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5 Ways to Maximize Dealership Profits with Omni-channel Retailing

April 1st, 2019 by

As customer purchasing behavior evolves, the automotive industry needs to be prepared and adapt in this omni-channel world. Omni-channel retailing in automotive meets the customer where they are, from online to in store. Creating a simple, transparent process that maximizes profit doesn’t have to be hard. There are easy steps you can take – and […]

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Recession to Hit Dealerships Hard. What’s Your Survival Plan?

December 21st, 2018 by

Economists are predicting that another recession is coming our way. Dealers across the country are already seeing things shift. New car sales are decreasing, even with strong rebates in December. With factory money on the decline and signs that some incentives may go away, many dealers are scared. Many dealership managers have gotten accustomed to […]

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How to Decrease Car Salesperson Turnover

December 10th, 2018 by

Car dealerships continue to be plagued by salesperson turnover. And the problem is only getting worse. According to the National Automobile Dealerships Association, employee turnover rates have steadily climbed since 2013 and are fast-approaching 50%. Fortunately, there are some possible solutions. Below are five ways to decrease car salesperson turnover at your dealership. Decreasing Car […]

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Stop Racing to the Bottom — Increase Profits With Fair Value Pricing

October 17th, 2018 by

Why “race to the bottom” to move inventory when you can use pricing proof points to hold value and increase profits? Using pricing proof points to reinforce the fair value prices of your inventory gives customers confidence that they’re getting a fair deal on the vehicle they’re buying. Racing to the bottom against the competition or […]

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How to Calculate Cost-to-Market Appraisals

September 18th, 2018 by

It is important to do cost to market appraisals correctly and thoroughly. There are 2 types of markets that need to be considered when appraising and pricing vehicles as they come into inventory: the general area markets and the dealership specific markets (or internal markets). Types of Markets 1. General area markets tell the dealership […]

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Pricing Proof Points — Good for Consumers & The Sales Team

August 20th, 2018 by

Pricing proof points like Kelly Blue Book (KBB), NADA, and packages help consumers know they are getting a fair deal on a vehicle. They provide factual information to back up why the vehicle is priced the way it is. In fact, 78 percent of consumers will not purchase a vehicle without some sort of 3rd […]

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People-First Auto Retailing: How to Keep Up with Shifting Consumer Demands

June 4th, 2018 by

A revolution is happening in the automotive retail industry. Customers are looking for a more transparent, evidence-based shopping experience. And they want the process to move faster. With this shift, dealers are re-thinking their sales process.

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5 Steps to Build Your Dealership’s Brand Promise

May 16th, 2018 by

A brand promise helps define your dealership for customers. It tells them who you are, reflects your character, reputation, value proposition and how you differentiate yourself from the competition. Most importantly, a brand promise presents your commitment to your customers and explains why you deserve their business. Step 1: Define How You Do Business Start […]

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