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Sunday, August 30, 2015

Numbers Reveal The Truth About Your Dealership's "PowerDealer" Status!

Are You a PowerDealer? Numbers Reveal The Truth - Automotive Marketing 

PowerDealer is a highly accurate and free online source for analytical tools and decision-support products that enable your dealership to compare your operation to your market region; improve your dealership profitability; and help you make effective business decisions. - See more at: http://www.jdpower.com/resource/powerdealer-right-data-right-now#sthash.jCrhZwS4.dpuf
PowerDealer is a highly accurate and free online source for analytical tools and decision-support products that enable your dealership to compare your operation to your market region; improve your dealership profitability; and help you make effective business decisions. - See more at: http://www.jdpower.com/resource/powerdealer-right-data-right-now#sthash.jCrhZwS4.dpuf

PowerDealer is a highly accurate and free online source for analytical tools and decision-support products that enable your dealership to compare your operation to your market region; improve your dealership profitability; and help you make effective business decisions. - See more at: http://www.jdpower.com/resource/powerdealer-right-data-right-now#sthash.jCrhZwS4.dpuf
PowerDealer is THE Go-To Information Source for Running Your Dealership Effectively
PowerDealer is a highly accurate and free online source for analytical tools and decision-support products that enable your dealership to compare your operation to your market region; improve your dealership profitability; and help you make effective business decisions. - See more at: http://www.jdpower.com/resource/powerdealer-right-data-right-now#sthash.jCrhZwS4.dpuf
PowerDealer is a highly accurate and free online source for analytical tools and decision-support products that enable your dealership to compare your operation to your market region; improve your dealership profitability; and help you make effective business decisions. - See more at: http://www.jdpower.com/resource/powerdealer-right-data-right-now#sthash.jCrhZwS4.dpuf


PIN and PowerDealer offers three key elements for dealers, according to Matthew Racho of J.D. Power and Associates... He went on to describe these elements in more detail:
“The timeliness and the breadth of the data. We’ve got a lot of data here. And, it’s free.”
An example of how this might benefit a used car dealer, is in off-brand trade-ins. A Ford dealer who has a customer come in with a Fusion or an F-150 knows the trade-in and resale values of those vehicles because he deals with them on a regular basis. He is likely less familiar with a Honda Accord or Nissan Altima, Racho said, and while he might think he knows those values based on his own experience, the data can provide factual information regarding their value in that market.

PowerDealer provides that dealer with what those cars sell for in that market, ensuring a quicker, profitable turn.
“Every market has its own nuance in terms of vehicles that perform better than others,” --Matthew Racho
Perhaps more importantly, PowerDealer allows dealers to see into the future a bit and adjust business strategies accordingly. If the data shows, for example, that a particular car sells well or doesn’t sell at all in your market plans can be implemented to take advantage of that knowledge.
Recently, PIN began integrating its data collection with Google Maps, allowing dealers to see where in the region it sells a lot of cars or not many at all.
“You can see where certain cities and maybe zip codes where volume has gone down, and recapture those opportunities before someone else does,” --Matthew Racho

GMs and principals can also use the website’s goal-setting element to set goals for the week or month based on the data at hand. Having that information available to the entire staff can go a long way towards getting everybody on board to the plan, Racho said.

In response to the many requests heard from interviewing many of those dealers, PIN developers are working on updating the systems to be able to send text updates and alerts regarding breaking developments.
“We’ve spent a significant amount of time at premiere events and gone out and knocked on doors asking people what they want to see,” Racho said.

Dealers want more granularity, more specific insight into their particular store’s performance, more insights into understanding what the potential drivers of increased profitability is.
“The third thing dealers will see is us being more proactive in providing that information to dealers. Letting dealers know where they may be out of statistical balance whether it is better or worse.”

Racho said that information will include not only the alert, but a possible solution.
“It is all designed to give manufacturers and dealers the ability to adjust.”