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Is your automotive CRM solution providing you the right business intelligence?
Today's business intelligence is not only about your competitors, it is also a reflection of yourself in the business world. Knowing what your competitor's strength and weaknesses are not enough, but what about your own performances? Are you spending the right amount for advertising that is the most effective? Are you sending valuable leads to a bad sales person? Most of all are you losing out on business opportunities? All these mind boggling questions can be found in a well formed and developed CRM solution. Because after all it is all about good data mining and data manipulation techniques that can offer you the answer. With the help of a good automotive CRM solution you can truly maximize your business potential.
Let's take for advertising spending for example. By asking your online customers the right question at the right moment, you can categorize your incoming traffic with the labels such as radio ad, Google, flyer drops, newspaper...etc. With good data integrity build into the CRM, your solution will be able to tell you which advertising avenue is generating the most amount of interest. Therefore you should increase your spending on Google, and drop your spending on newspaper ads. This data can be further sorted and viewed as a comparison chart on a monthly basis or yearly basis. Moving on to the next topic of are you giving leads to the right sales person? This is a crucial part of your daily operation, because a wasted lead can literally translate to wasted resources. After you spend thousands of dollars attracting your potential customer, the last thing you want to do is to waste that lead to a bad sales person.
To track a sales person's performance you can do it in two ways, first is to calculate his or her closing ratio, and with a good CRM solution it is just few mouse clicks away. You can chart his or her performance by month, even compare to another sales person. You can also track a sales person's performance by call tracking. The new technology of voice over IP is supported by all major automotive CRM solutions. In coming phone calls can be recorded and played back for you to filter and categorize. You can then use this information to judge for yourself if you are betting on the right horse or not. Another good feature offered by a well developed CRM is called vehicle performance reporting. This type of intelligence will include data such as your best selling vehicle, average inventory age, average turn over ratio, total profit per month, and so on. It is useful data for you to figure out what is your best seller, and if have an imbalance in your current inventory.
There are also rare features of a CRM solution that can offer you 3D charts with real live time data extraction from your database, you can literally see how you are doing at this moment in time. Visual representation of your business intelligent data is uncommon, but there are solutions out there that currently supports this feature.
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