Introducing the 15 minute Focus-Finder…what it is, why we’ve launched it and how you can benefit from it
The competition is fierce out there, and you want to find any edge you can. But in the busy, constantly changing market, it’s hard to find time to step back and look for ways to improve your performance.
In such a volatile market, we firmly believe that the best strategy for success is to use the deepest and most relevant data and insight available to help guide your business decisions. Leveraging data helps you to cut through the noise, enabling you to identify, investigate and improve key areas of your business, and to quickly act upon opportunities to drive sales.
We’d like to think we’ve always equipped you with meaningful data to help shape your decisions. Particularly during the last two to three years when there have been countless examples of other industry pundits making ill-informed predictions, from huge drops in used car pricing to declining demand for cars. Our unrivalled data and insight into the live retail market allows us to challenge those opinions with concrete evidence rather than “we think”. That is a truly powerful competitive advantage for your business. Today, used car prices remain up 15.6% year-on-year despite some natural softening and demand remains 16% ahead of pre-pandemic levels respectively. Both are great examples of where it’s vital to let the data shape your decision-making and block out the ‘industry noise’.
That’s why we’ve created the 15 minute Focus-Finder. It brings together our most powerful data to help you decide exactly where to focus your energy to drive real business results. In as little as 15 minutes, our experts can help you:
turn your goals into a clearly defined strategy
quickly identify exactly which areas of your business or vehicles require urgent attention
improve your sales performance through clear and concise advice
Let’s dig into some of the key insights we’ll help you to surface…
Analysing your performance over the last 90 days
Starting from the top, we can show you a quick view of how your stock has performed over the last 90 days in terms of its Retail Rating (how it’s expected to perform based on the market), its Performance Rating (how it’s actually performing relative to the competition), average price position (relative to the market value) and a breakdown of how long your vehicles have been advertised for (a good indicator of where there may be a problem with overage vehicles). In this anonymised example, we can quickly see that performance is pretty healthy across the board, although there might be a small issue with overage vehicles. Now that we know this, we can zoom in to investigate those vehicles in more detail.
Comparing performance vs goals
Most importantly, the Focus-Finder is powered by your own personalised business goals, which means it’s totally bespoke to you. Based on your goals, we can show you how close, or far away you are from hitting targets and which vehicles are performing, relative to our expectations, and most importantly, your bottom line. Metrics like ‘expected days to sell’, ‘targeted days to sell’ and ‘breakeven point’ give you an instant view of how much effort is likely required to reach your targets.
Deeper competitor insight than ever before
Think you know your competition? The data may surprise you. Using consumer behaviour to identify your digital competition, we can enable you to understand your competition, giving you deeper insights than ever. For example, we can show you which Advertising Package your competitors are using, the split of independent vs franchise (again this might surprise you), the price position and performance rating of their stock – all based on where the consumers is looking at both your stock and theirs. Once you’re equipped with this insight, it gives you more power to make smarter decisions to beat the market.
Helping you to optimise margin and days to sell
Once we’ve helped you identify where to look to spot potential problems or opportunities, we can now help you identify where to act, with a strong emphasis on optimising margin and days to sell. Based on your desired number of days to turn, your stocking cost per vehicle per day and desired profit per unit (PPU), we can help you quickly identify which vehicles need urgent attention to get them sold. Over time, this insight can help you maximise PPU by selling faster and minimise lost PPU through overage vehicles.
Sound useful?
If all that sounds like something that would benefit your business, we’re ready and waiting to help you find your focus and make significant improvements to your sales performance.
To request your 15 minute Focus-Finder, call us today on 0330 3039 022 or complete this short form to request a callback from one of our experts. It takes just 10 seconds.
Oh, and perhaps best of all…every bit of game-changing insight is included as part of your Auto Trader package.