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Glitter and Spiderman: The Missed Market of Auto Accessories

Posted by Insignia Group on Jan 26, 2023 10:28:49 AM

Buying a car is, more than likely, the second biggest purchase a person makes in life. 

To better understand that statement, think about the first significant purchase. Consumers spend months researching and searching for the perfect fit for their lives and families. Incredible amounts of money are spent on homes in America. Countless television series is dedicated to home buying, improvement, and restoration. Home furnishing stores are everywhere. 

Is a car buying all that different?

While budgets span a tremendous range, a person is looking at spending thousands of dollars no matter how you slice it. Today, 92% of car buyers research online before they buy. So before a customer ever walks into your store, there’s been a time commitment on their part already. A car is a significant buy!

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Topics: Accessories System, Marketing, Millenials, Accessories sales, Automotive

5 Auto Accessories Your Dealership Should Be Selling

Posted by Insignia Group on Jan 18, 2023 10:32:08 AM

The world of auto accessories is as vast as the ocean. There are many ways to make a dollar using accessories, with both OE and aftermarket catalogs always growing, the possibilities are endless! 

Accessories are adaptable. They hold the power to push a hesitant customer to commit and put an extra incentive in a salesperson’s pocket. Auto accessories add profits in fixed ops, allow for better introductions to service, and transform dealerships into a one-stop shop for consumers. 

Dealers who sell accessories simply make more money. With the right strategy and sales process, your dealership sales are guaranteed to increase. 

An accessory catalog can change seasonally and by location. Still, some auto accessories have proven themselves as tried and true sellers regardless of the time or place. 

When you set out to become a Vehicle Personalization powerhouse, ensure you’re offering these five accessories at every opportunity.

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Topics: Dealership, sales, Accessories sales

Using Pinterest to Sell Auto Accessories

Posted by Insignia Group on Jan 12, 2023 1:53:32 PM

Pinterest represents a great way to share photographs and collections of interesting content online.

Bookmarked pins and collections can be assembled through the social network, which can also be used as an app on iPads and iPhones. Many businesses use this platform as a way to allow customers to do some virtual window shopping. It’s also used as a way to spread ideas about how their products can be used by the buyer, and it’s a free form of advertising.

Can craft-heavy Pinterest work for selling car accessories? What about the website's visual side makes it appealing to dealers and aftermarket companies? The following list suggests some benefits of using Pinterest to sell Vehicle Personalization.

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3 Factors of Dealership Turnover

Posted by Insignia Group on Dec 6, 2022 10:36:28 AM

Employee turnover has been cited as the #1 challenge for dealerships.

Recruiting, hiring, and retaining top talent has a price tag, and the revolving door of employee turnoverimpacts profitability. According to the 2022 NADA Dealership Workforce Study, "...employee turnover rate within the industry is currently at an average of 67 percent."

That’s a staggering number, considering that just one year before, Auto News reported turnover was the lowest it had been in a decade at only 34%. 

Dealers put money into hiring a new employee, only to lose them before their 90-day assessment. 

Employees that stick around longer end up irritated by the structured payment plans. And let’s face it, we’ve all experienced the pain of reduced margins which impact how sales consultants are compensated. 

So, what can dealers do about this age-old problem?

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Topics: Sales Best Practices, Reducing Turnover, Dealership, sales team

Dealerships Can Take the Sting Out of Oncoming Recession

Posted by Insignia Group on Dec 1, 2022 10:03:38 AM

Economists differ on what’s coming next. One will argue that consumer spending is still strong, employment is still in an upward churn, and we’re just thawing out from the global freeze caused by the pandemic. Another will say an early 2023 recession is inevitable. 

Dealerships have to deal with future forecasts while simultaneously managing current challenges. Will high vehicle prices and low inventory give way to slowed demand?

Regardless of what awaits the automotive world in 2023, cars are an essential business and dealerships are notoriously resilient. 

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Topics: Increase Profits, Dealership, Accessories sales, Gross profit

Break Up With Paper We-Owes

Posted by Insignia Group on Nov 22, 2022 11:10:08 AM

The “due bill,” or We-Owe, originated from a need to protect both dealerships and customers from making false claims on a car sale.

Years ago the industry had a less-than-savory reputation for swindling people out of their hard-earned money. Sometimes, dealers would sell less than road-worthy cars for a premium price, only for the vehicle to break down on the new owner. 

A “he said/she said” scenario was born, with dealerships making promises and later backing out of them. With no proof of prior conversations, the customer found themselves with a lemon and no money.

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Topics: Process Training, Dealership, Best Practice, Lead in

Auto Accessories: Bringing Departments Together

Posted by Insignia Group on Nov 15, 2022 12:23:19 PM

Dealership management does a lot of gymnastics to keep things running smoothly. 

Managing personalities and meshing departments is a big part of daily life in a car dealership. 

There’s the “every man for himself” culture in car dealerships, which is a pervasive problem. And, it’s always there, just below more pressing issues like a pandemic or a chip shortage. When will it all bubble up over the brim?

These issues are understandable and some stores have a better handle on it than others. Mostly, it comes down to a lack of communication. At times it can be easier to deflect when you have an angry customer standing in front of you. 

In a climate like the one we have today, departments are tempted to compete for profit rather than focusing on the dealership as a whole. Whether it’s a miscommunication, undelivered promises, or grappling for a piece of the pie, internal disunity is bad for business. 

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Topics: Dealership, Accessories sales, accessory sales

4 Tips to Raise Sales in the Parts Department

Posted by Insignia Group on Nov 14, 2022 11:52:34 AM

Insignia Group has been working closely with dealerships since we were fortifying our bunkers for Y2K.

Since then we’ve seen the industry crisis of 2008, the Presidential bailout of the Big Three, the pandemic, and a chip crisis to name a few. 

Things have changed a lot over the past twenty years. The industry has evolved, challenges have come and gone, while others morphed. The best dealerships are flexible, adaptable, and poised to overcome adversity.

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Topics: Increase Profits, Accessories sales, parts department, service department

Talking Dealership Customers Through Parts Backorders

Posted by Insignia Group on Oct 10, 2022 2:05:27 PM

Today, even the most seasoned parts managers are in danger of burnout.

Dealership parts backorders, a symptom of the ongoing inventory shortage, are creating more than profit loss. Interdepartmental tension, frustrated customers, and a stressed-out parts staff have only increased since 2020.

Some parts departments aren’t even getting an ETA for the parts and accessories they need. More loyal customers might be understanding, while most blame the dealership. 

For parts managers, an already difficult job has been exacerbated. Nobody wants to be sitting on their hands waiting on parts, yet that’s the very situation we find ourselves in today. 

What can management do to take hold of the dealership inventory problem and be a positive force?

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Topics: Accessories sales, parts manager, parts department

Using Car Pre-Sales to Increase Profits

Posted by Insignia Group on Sep 20, 2022 3:54:45 PM

According to industry experts, the inventory shortage will continue into 2024. 

Though predictions are what they are, dealerships across the country can agree that mass influxes of inventory are not on the horizon. 

E-commerce swallowed up traditional car buying out of necessity that later morphed into convenience. And today's buyers love convenience. So much so, in fact, that customer satisfaction with the buying experience reached an all-time high. 

Most dealerships got a handle on online sales just in time to face a new problem with inventory shortage. Today that issue is top of mind. 

Still, we’re an industry that adapts to changing needs and overcomes them! Dealers can meet the demand for online sales while combating shortages with car pre-sales. 

Not only that, pre-sales are a versatile tool that will also help salespeople learn how to sell cars when it’s slow. 

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Topics: Dealership, tips