Tracking KPIs are the key to success in any industry. For UAE car dealers, if your dealership doesn’t track different performance KPIs you could be losing thousands in potential sales.
How would you know if your sales staff are selling? How would you know if your dealership is growing? How would you know if you are selling enough cars? The answer is you wouldn’t! Going months of not knowing key dealership information could cause chaos and effect your dealership and customers.
Whether you’re a dealership principal, sales staff, or admin staff, KPI’s are essential to manage performance, and maximise growth.
So, what are KPIs for the automotive industry and how can your dealership set them up?
EasyCars has put together guide on what KPIs are, some examples of KPIs in the automotive industry and how your dealership can track them.
Let’s get into it.
What is a KPI?
KPI stands for Key Performance Indicator. A KPI is a measurable indicator that shows how a business is performing to it’s assigned goals. All businesses have goals, and your dealership is no different. When you have goals, KPIs help you see if you are meeting them or not.
The benefit of tracking KPIs is your dealership will instantly know what areas you are doing well and what areas need improvement. For those areas that need improvement, you can instantly implement changes to minimise the impacts.
What KPIs should your Dealership Track?
Before you look to set any KPIs for your dealership you first need to identify the key goals you have for your dealership in the next 3, 6, 12 months’ time. How many cars do you want to sell? How much profit do you want your dealership to generate? How many cars should your sales staff sell per month?
Note down all the goals you have for your dealership. This will prove as the foundation for the KPIs you implement for your staff.
Types of dealership KPIs include:
Sales per week: How many cars do you want your sales staff to sell each week? You should implement a KPI that indicates how many cars your sales staff need to sell every week to meet your dealerships growth goals.
Staff efficiency: The last thing you want for your dealership is to be paying staff who do not provide a return to the business. How many leads should your sales staff contact per day, how many calls should they make? Implement a KPI that tracks the number of tasks your staff need to complete week on week.
Customer satisfaction: Take care of your customers and they will take care of you! Your dealership should track the satisfaction of your customers in the weeks following a purchase.
Vehicle Advertising: Let’s face it, vehicle advertising is expensive. Your dealership needs to track the ROI of all your advertising spend. The benefit of tracking an advertising KPI is you can instantly stop sending your vehicles to advertisers who don’t offer you a return on investment.
KPIs can be customised to your dealership’s unique goals and aspirations. Whatever is important for the future of your dealership add it as a KPI.
Implementing and tracking KPI’s are the key to success in the UAE motor industry. UAE dealers must understand where they want their dealership to be in the future and have a clear plan in place that helps you achieve those goals. KPIs are the best tangible to boost dealership performance and streamline future growth.
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Where EasyCars can help
Setting and tracking KPIs are tough, especially if you are tracking them manually. EasyCars by Jeal is a web-based dealer management system that allows UAE dealers to easily set, track and report on different KPIs. From sales to advertising and customer satisfaction – EasyCars makes it easy for you to set and manage KPIs.
For a no-obligation free demon of EasyCars dealer management system submit the form below.