Drive GrowthDealers are already reaping data benefits.
Data is king in the world of automotive retail.
Knowing which data to target and, especially, how to connect it to the sales process, has remained baffling to many dealers… until now. GM’s Drive Growth initiative, launched in June 2018, is giving dealers a fail-safe way to collect, review and, most important, act on data in ways that benefit sales and customers. While it does not replace RSI, it’s another opportunity to help dealers improve their RSI and profitability.
More than 3,000 dealers have joined the Drive Growth movement – meaning they have signed a data share agreement with GM. Partnered with CVI, GM uses this dealer-specific information to provide two types of analysis:
Operational analysis – this report is available just days after the sales-month close. It identifies the top three model opportunities for a dealership.
Traffic conversion analysis – also known as the TCA report, it is available on the first day of each month and updates on a daily basis. It combines dealer data with industry sales data to identify purchases and defections.
To participate in Drive Growth, dealers must first join GM’S Essential Brand Elements. Dealers are encouraged to reach out to their zone teams for now for more information on EBE enrollment.
Drive Growth is Driving Results
“TCA is the money report, it tracks leads – phone, walk-in, Internet and other – for 90 days by source, model, geography and more. Our biggest takeaway so far is that dealers must follow leads longer. GM dealers are great at communicating with leads for about a week. After that, contact drops off. Data shows that customers remain in the market longer than dealers are staying in communication with them. In most cases, customers remain well beyond seven days and often in the 60-90 day range. GM Dealers need to extend their follow-up process to mirror this buying behavior.”