Posted by Brandon Weaver on Thu, Oct 11, 2012 @ 10:00 AM
Auto dealer general managers oversee day-to-day operations of their location. Many of the people in these positions have long careers in the automotive industry. Even further they have either a Bachelors or MBA in business or finance. Not to mention it is common to find past experience as a sales or finance manager, which means they are numbers-driven, play hard ball in negotiations and understand the sales cycle of new and used cars.
In our conversations with auto dealership general managers we found the following top priorities:
- Increased vehicle turnover and service department volume
- Maintain and improve customer satisfaction rating
- Peace of mind
Customer check payments and check processing services help facilitate each of these objectives. The financial trade publication Greensheet mentions that "checks and demand deposit accounts (DDAs) are so entrenched in the American consciousness and economy that eliminating them isn't a viable option." Mobile payments may be enticing, on the rise and easy to use but when was the last time new vehicle buyers placed a down payment on credit card or using Google Wallet?
Check processing services can verify, guarantee and provide that all-important peace of mind. They can also increase word-of-mouth advertising for high-ticket item vehicles because more customer check payments can be accepted, all the while keeping them coming back for routine vehicle maintenance or recommending your dealership to friends and family.
What's more, dealerships that boast check processing services gain a competitive advantage because customers will be attracted to dealerships that are more likely to accept their checks as payment and that offer flexible payment programs such as Multiple Check.
Let us not forget, many general managers have kids in college and that is expensive! The National Center for Education Statistics reports that the average college institution cost more than $18,000 for the 2010 - 2011 school year. Compounding this effect is that there are other siblings that are either on the verge of college or already attending. We all want the best for our kids, whether that means sending them to an Ivy League school, a prestigious California university or otherwise supporting their dreams. The more customers and repeat customers general managers have purchasing from their dealership, the better off their bottom line will be and more peace of mind they will have in paying rising tuition costs and household expenses.
Auto dealership general managers look at the numbers very closely given their industry and finance background. Increasing sales and reducing costs is important but achieving peace of mind is the ultimate goal business-wise and on a personal level. Let's face it, if general managers are enjoying increased sales and customer satisfaction ratings, peace of mind will generally follow.
In a down economy where maximizing business is critical, is your dealership taking advantage of the latest technology to beat your competition? Let us know.