Many small dealerships believe that they are too small to have CRM. They use spreadsheets as a tool for keeping a track on the opportunities, customers, invoices and payments, since their dealership began and the founders were the sole members of the sales team. Now that the business is expanding, but so have the problems. And most of these are because of the increase in the number of customers and the sales team. Now, spreadsheets doesn’t suffice the dealership operations. This is because now the data is too expansive and high number of transactions, you realize the need of automation and collaboration. In order to become a successful car dealer, you will need to pay attention to some signs. Here are a few of them that calls out for a high need of a CRM Dealer.
- You have no idea about the profitable growth drivers
You aren’t aware of the most effective and profitable leads and the most profitable customers, products, and segments. You cannot thrive when it comes to profit when you cannot seek answers to these sources and act upon them. The smart and ideal CRM dealer will help you ascertain gross margins for every customer, sale, segment and product, so that you can centralize on the most profitable leads ever.
- You aren’t certain about your revenue in the current financial year
Although, you are aware of the pipeline, but you need to be aware of the forecast revenue at any time if you want to accomplish the annual goal. And for the very same, you need to be clear about each stage of the opportunity, the probability at this very stage and the amount as quoted to the customer. These elements will provide you the estimated forecast amount. Additionally, the stage of every opportunity helps in identification of the forecast closure date. These two elements will provide you the estimate revenue in the current financial year.
- Albeit, the dealership is booming, cash flow is a problem nonetheless
A well managed and a profitable dealership shouldn’t have to be concerned about the cash flow. If you are still striving, this is because you are not putting up invoices on time or not tracking overdue invoices. You need a CRM that generates the invoice and track payments on time.
- You don’t have the data readily available for your potential leads
If you want to raise funds from investors, VCs, or IPO, you need to have the data available for pitches and researches at all times. This is only possible when you have the data stored in a single database which is only possible by investing in a CRM that is integrated with ERP.