How to Forecast your Service Marketing Return on Investment
With the current social climate, most dealerships are suffering from a decrease in service sales. In order to maintain levels of profitability, a lot of dealers are looking to reduce expenses. One of the most important expenses is marketing/advertising. Simply put, you have to spend money to make money. I’ve spoken to several dealers who have cut off service advertising completely since the beginning of the pandemic. While sacrificing your business tomorrow to save today is one way of looking at it, what if we could have a better idea if a marketing campaign will help? Or if it won’t work under our current profitability model? Many service managers focus on the initial cost and ignore the potential profit. A lot of it comes from a lack of knowledge on how to really do so. Or your marketing provider gives you a spreadsheet that shows their efforts have brought an additional billion dollars to your service department without being able to explain the data. I created a tool to give you a quick overview of the potential return on your investment in your service department. If you’re tired of being told no, we can’t spend any money on service marketing, this tool is for you. If you’ve had enough of blindly spending massive amounts on marketing, this will help give you an idea what to expect in return. If you question the picture your marketing/advertising provider is painting you, this tool may provide clarity. With basic data entry you can see what your average net profit per repair order, customize your expected return percentage and ultimately what your projected net profit would be if you purchased a marketing campaign. Go to http://sunriseautomotiveconsulting.teachable.com for this NO COST tool and complete guide on how to use.
Automotive Fixed Operations Training and Consulting 