In the latest episode of the Millionaire Car Salesman Podcast, hosts Sean V. Bradley and LA Williams explore the transformative role of Customer Relationship Management (CRM) systems in the automotive industry alongside Greg Becker, Chief Product Officer at NCC / ProMax. 

"CRM fatigue is running rampant in the industry, but there's a smarter way to sell cars."

With an authentic background in both dealership management and technology, Greg offers practical insights into leveraging CRM tools to enhance customer engagement and maximize dealership profitability. This episode is particularly pertinent given the current concerns within the industry regarding tariffs and their potential impact on pricing, inventory, and dealership operations.

“You can't put a price tag on experience... CRM is the centralized hub of the repository where the data is."

The conversation delves deep into how dealerships can utilize CRM systems like NCC Promax Complete CRM to streamline operations and cut through the clutter of outdated practices. Highlighting the impact of tariffs, Greg discusses proactive strategies dealerships can adopt, such as focusing on inventory acquisition and leveraging service department interactions. 

"The beautiful part about this is most of the customers have done 50% of the work; they're already scheduled."

With an eye on future-proofing dealership operations through AI advancements and tailored CRM solutions, this episode equips listeners with actionable strategies to navigate and thrive amidst industry challenges.

 

Key Takeaways

✅ CRM as Central Hub: Greg emphasizes CRM's role as a central hub for managing ongoing customer relationships from sales to service.

✅ Service Department Focus: Encourage dealerships to utilize their service departments as a key asset in generating leads and acquiring inventory.

✅ AI Integration: The potential of AI, including video messaging and advanced data analytics, is highlighted as a tool to enhance dealership efficiency.

✅ Actionable Insights: Greg provides detailed strategies for tapping into existing dealership data to create tailored, impactful customer campaigns.

✅ Resilience in the Face of Tariffs: Despite economic uncertainties, adopting a proactive, data-driven approach can help dealerships maintain profitability.

 

About Greg Becker

Greg Becker is the Chief Product Officer at NCC / ProMax, where he leads the design and innovation of dealership software solutions. With a background in managing BDCs and working in automotive retail since 2000, Greg's expertise lies in dealership operations and CRM technology. His journey from retail experience to becoming a tech leader in the automotive space makes him a valuable voice in discussions about dealership software and strategy!

 

The Future of Automotive CRM: Navigating Tariffs and Maximizing Customer Relationships

Key Takeaways

• CRM Customization is Crucial: Automotive dealerships must invest in their CRM systems, utilizing insights from seasoned professionals like Greg Becker to truly capitalize on their customer database and streamline operations.

• Adapting to Tariff Induced Changes: With impending tariffs, dealerships need proactive strategies to adapt and thrive, including leveraging CRM tools for better financial foresight and customer relations.

• Utilizing AI and Technological Innovations: The automotive industry can benefit significantly from integrating advanced AI solutions within their CRMs, improving lead management and customer engagement.

 

Navigating Tariffs and Their Impact on the Automotive Industry

Businesses across the globe are buzzing with concerns over tariffs and their potential repercussions. As Sean V. Bradley insightfully points out, "Fear and uncertainty breeds chaos… People are consuming fear." The automotive industry is no exception, facing the dual challenges of increasing vehicle prices and an anxious consumer base. The key to overcoming these hurdles lies in adapting existing practices and embracing change.

The first step is acknowledging that tariffs may indeed lead to skyrocketed costs of vehicles and parts, affecting both import and floor plan expenses. Sean accurately assesses that fear-induced actions, akin to Florida's hurricane preparations or the pandemic's toilet paper rush, could lead to unnecessary chaos. Instead, dealerships should direct their focus towards controllable elements such as refining sales strategies and maximizing their existing assets.

Greg Becker, an industry veteran, highlights the industry's resilience and adaptability. "The automotive industry is one of the most resilient… it's here," he states, underlining the importance of proactive strategies. By revisiting existing client interactions and utilizing CRM systems effectively, dealerships can tap into previously missed opportunities. Revisiting leads from the previous week could uncover potential sales amidst the tariff turmoil, ensuring a steady customer flow. Focus should also be redirected to used cars with vehicle acquisition strategies and engaging with past clients through innovative campaigns.

 

CRM Customization: A Game-Changer for Dealerships

In an ever-evolving market landscape, customizing CRM systems akin to NCC's Complete CRM can be a pivotal differentiator. With years of hands-on experience in the automotive industry, Greg Becker underscores the importance of a customized CRM solution that resonates with the dealership's culture. "We create solutions from a different perspective… a big difference between providing technology solutions and people solutions," Greg articulates.

By tailoring CRM settings to replicate a dealership's internal culture and operations, automotive enterprises can enhance user adoption and efficiency. This encompasses everything from allowing personalization in system navigation to meaningful data segmentation strategies. Promax, spearheaded by Greg, shines as an exemplar by offering dashboards tailor-made for diverse roles, streamlining task management and bolstering productivity.

This bespoke approach in CRM enables users to land on fully customized environments conducive to their daily operations, eliminating friction and optimizing work processes. Greg aptly notes, "If they can't get to it quick, they're going to bow out," emphasizing the crucial role of ease and efficiency. Such an integrated, user-friendly approach not only boosts individual productivity but ultimately amplifies the dealership's overall operational efficacy.

 

Embracing Artificial Intelligence for Enhanced Lead Management

Artificial intelligence is reshaping industries, and within the automotive sector, its integration within CRM systems holds immense promise. AI-driven data mining and predictive analytics offer dealerships the power to refine their lead management actions, drawing insights from CRM data seamlessly. As Greg shares, "We leverage AI… from a recommendation perspective," signifying the role of intelligence in refining dealership offerings.

Further blending AI with CRM, as suggested by Sean, opens the possibilities for revolutionizing customer communication through automated video messages. These AI-generated communications can play a pivotal role in promotional strategies and maintaining customer retention amid the tariff blues. By adopting advanced AI solutions that align cohesively with CRM frameworks, dealerships can bolster customer interaction and streamline conversions.

Moreover, such AI tools provide laser-sharp focus in understanding customer temperament and preferences, paving the way to more personalized, successful negotiations that benefit both dealerships and customers. As dealerships explore and invest in these intelligent solutions, they step towards a future that is not only efficient but also customer-centric.

 

Maximizing Customer Relationships in Uncertain Times

A dealership's current customer database holds incredible potential. In a world filled with uncertainty, whether due to tariffs or economic shifts, nurturing these relationships can provide a valuable buffer. As Greg Becker elucidates, "An average CRM database has 10,000 customers… that's a $10 million investment." Dealers should capitalize on this investment, targeting tailored, data-driven campaigns for existing clientele that could lead to profitable returns.

To mine this gold, dealerships must look beyond the notion of direct sales investment, placing substantial effort into forging and sustaining long-term customer relationships. By aligning marketing campaigns through CRM insights directly with customer proclivities, dealerships will not only reinforce current relationships but also foster opportunities for referrals and repeat business.

Investing in CRM customization and AI solutions ensures a flexible framework that adapts to changing market dynamics and transcends anticipated challenges. The implementation of ef