6 Opportunities for Your Dealership in 2022

Growing your dealership’s business year-over-year can be a challenge, especially with the challenges of the past couple of years. Between the pandemic and the constant change and reliance on digital retail, spotting fresh opportunities for your dealership can take some out-of-the-box thinking. If you’re looking to grow your dealership’s business in 2022, here are six opportunities that you should take now to achieve your goals.

2022 Dealership Opportunities:

Modernize the Car Buying Experience

It’s no secret; online shopping is the number one way to buy among many of today’s consumers. If your dealership wants to keep up with modern shopping habits, you need to adapt to the online retail model. 2022 is the year of empowering the customer to shop exactly the way they want.

This begins with taking a multi-channel approach—brick and mortar and digital—to selling cars. People are shopping online now more than ever, and many consumers would rather do the bulk of their vehicle shopping in the comfort of their own homes. Others prefer to do some (or even all) of the buying experience at the dealership, so you should be offering both options and creating a seamless shopping experience.

Shift Your Attention to New Revenue Generators

New car sales are waning, and forward-thinking dealers are turning to other profit generators in the dealership. Drivers are keeping their vehicles longer and turning their attention to your parts and service departments rather than purchasing a new vehicle.

Parts sales, in particular, felt a significant impact during the pandemic. Dealers felt a sharp decrease in their conventional parts business, losing close to $6 billion in parts sales. However, online sales weren’t decreasing in the same way but were instead increasing. RevolutionParts customers saw a 25% increase in parts sales by selling online. 

Today, new car sales continue to be a challenge, but for different reasons, meaning your dealership should find new ways to capitalize on fixed operations profits in 2022.

The current chip shortage is having a major impact on the manufacturing of new vehicles. This has lowered the availability of new vehicles and driven up costs. In return, consumers are purchasing used vehicles at a higher rate, and used vehicles often require more maintenance and repairs. This means you should be focusing on increasing revenue on the fixed ops side of the dealership. Using eCommerce solutions to fulfill such high demand can help boost your revenue while also providing a modern parts shopping experience for your customers.

Start Digital Retailing In Every Department

You’re probably already selling cars online, but what about parts and accessories? If you’re not entering 2022 with a powerful multichannel strategy for your parts and accessory business, it’s time to go back to the drawing board.

What does it take to have a powerhouse parts department? It includes having your very own web store, Amazon and eBay channels, a wholesale channel, an advanced local delivery method, and an all-inclusive software like RevolutionParts to help launch and run these programs. Selling across channels throughout your dealership makes it easier for your customers to find you and capture more business that you can keep for longer.

>>> Check out this guide to Creating a Digital Dealership <<<

Level-up Your Accessory Sales Strategy

How is your dealership currently prioritizing accessory sales? There are a lot of opportunities to encourage vehicle customization along the car buying process and even after the car sale. In addition to increasing the profit on the car sale, accessory recommendations (and a streamlined, shopper-friendly method for making them) can improve dealership CSI scores. Customers who purchase accessories to go with new vehicles or to revamp and repair older ones can strengthen their loyalty to your dealership. Using accessory sales to improve your customer retention is a great addition to streamlining your sales strategy. It’s a win-win.

Invest in Digital Marketing Across Departments

Marketing is a must-have for any business, but digital marketing is a must-have to achieve online success. If your dealership has no online marketing presence, your customers won’t know you exist. As part of your dealership’s marketing strategy, you need to be looking at what digital tools and resources will work best for all of your departments’ needs. 

Here’s an example of what to consider when building your digital marketing strategy. Let’s say you’re trying to bring more people to your parts department. Using paid ads on social media and search engines (i.e., Google) can help you increase the number of customers who are looking for a particular part for their vehicle. They see it, click on the ad, and are instantly taken to your parts web store. That’s an effective tool in a digital marketing strategy. 

Expand Your Market From Local to National

To thrive in 2022, your dealership needs to tap into more revenue generators and build high-quality digital retailing platforms. While the new car industry seems to be decreasing in its consumer base, the parts market is booming in the digital sphere. Dealers should shift their focus to build their online business for a prosperous 2022. This will help your dealership extend its reach across the nation and no longer
Ready to start the new year right? Get your eCommerce strategy in the water now and grow your dealership’s business. Sign up for a free demo with our RevolutionParts team of experts to help you get set up for the best sales year in 2022!
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