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Growing When Times Are Tough
In a recent issue of Automotive News, Ed Peper, GM’s North American Vice President for Chevrolet wrote an open letter to all Chevy dealers. In it he tries to cast a positive spin in light the current auto industry woes. One of his best comments states: “Now it’s time to get our eyes off the temporary economic obstacles and get focused on the goal. It’s time to re-energize the pride…for the future.” He goes on to say that dealers need to invest in facilities and personnel and get serious about the Internet. “Leadership is all about execution, every day, with every customer, with every sale.” he says.
No matter if you’re a GM store, Chrysler, Ford or Independent Ed’s comments should ring loud. History has shown that during tough times those dealerships that reinvent themselves and develop new ways to serve customers enjoy growth despite the gloomy news headlines.
Listen and Thrive
Dealerships that seem to do best when times are tough are those that have the patience to listen to their customers and then reposition themselves to better serve the market. Too many times dealers make the mistake of viewing the downturn from their own perspective. They focus on the news headlines, the slowing economy and effects of rising costs. While these issues are important they can overshadow the real question: How is the economy changing the expectations of my customers? Dealers that listen are more likely to not only survive tougher times, but thrive in them.
Welcome Opportunities that come with Tough Times
Given a choice, every dealership would like to avoid operating in a sluggish economy. Recessions have a way of acting as good incubators of change and innovation, a natural way for dealerships to reinvent themselves. Existing business models don’t work in a slower economy so change the model. Show customers a new and improved dealership. Show them the unique way you now do business.
Incremental Changes Don’t Work
Markets and consumers never emerge from a recession unchanged. Dealerships that fail to change only end up falling that much further behind – even when good times return. Quite simply, they’ve lost too much ground. Any incremental changes you do will only be copied by your competitors and get watered down in the end leaving you with little improvement.
The key is big changes. Look at all the reasons why customers should buy from you and develop marketing strategies that dominate those reasons. Think in terms of “Can my competitor say or do the same thing?” if so, how can you change it so that you own the idea?
Remember, leadership is about how you focus on the positives and send that message to your market. Reinvent yourself and you’ll thrive.
In a recent issue of Automotive News, Ed Peper, GM’s North American Vice President for Chevrolet wrote an open letter to all Chevy dealers. In it he tries to cast a positive spin in light the current auto industry woes. One of his best comments states: “Now it’s time to get our eyes off the temporary economic obstacles and get focused on the goal. It’s time to re-energize the pride…for the future.” He goes on to say that dealers need to invest in facilities and personnel and get serious about the Internet. “Leadership is all about execution, every day, with every customer, with every sale.” he says.
No matter if you’re a GM store, Chrysler, Ford or Independent Ed’s comments should ring loud. History has shown that during tough times those dealerships that reinvent themselves and develop new ways to serve customers enjoy growth despite the gloomy news headlines.
Listen and Thrive
Dealerships that seem to do best when times are tough are those that have the patience to listen to their customers and then reposition themselves to better serve the market. Too many times dealers make the mistake of viewing the downturn from their own perspective. They focus on the news headlines, the slowing economy and effects of rising costs. While these issues are important they can overshadow the real question: How is the economy changing the expectations of my customers? Dealers that listen are more likely to not only survive tougher times, but thrive in them.
Welcome Opportunities that come with Tough Times
Given a choice, every dealership would like to avoid operating in a sluggish economy. Recessions have a way of acting as good incubators of change and innovation, a natural way for dealerships to reinvent themselves. Existing business models don’t work in a slower economy so change the model. Show customers a new and improved dealership. Show them the unique way you now do business.
Incremental Changes Don’t Work
Markets and consumers never emerge from a recession unchanged. Dealerships that fail to change only end up falling that much further behind – even when good times return. Quite simply, they’ve lost too much ground. Any incremental changes you do will only be copied by your competitors and get watered down in the end leaving you with little improvement.
The key is big changes. Look at all the reasons why customers should buy from you and develop marketing strategies that dominate those reasons. Think in terms of “Can my competitor say or do the same thing?” if so, how can you change it so that you own the idea?
Remember, leadership is about how you focus on the positives and send that message to your market. Reinvent yourself and you’ll thrive.
