Save Money & Grow Your Brand Through Connecting Your Team
Communication is key for busy dealerships, and engaging ineffectively can be like trying to shove that key into a touchscreen passcode entry form. It certainly doesn’t work, and it ends up costing you time and money.
Although today’s frequently and drastically changing communication methods can seem overwhelming, staying connected with your employees and customers is one of the most important things your dealership can do, and it doesn’t have to be difficult.
What’s the Price of Poor Communication?
If a dealership isn’t communicating efficiently, the cost will come through losing potential customers, employees, and money. According to 360Solutions, the average business with 100 employees spends 17 hours a week clarifying communication. In monetary terms, this costs the business approximately $528,443 annually.
If that isn’t convincing enough, here are some additional facts and statistics to reinforce the cost —both literal and otherwise — of inefficient communication at work.
- Employees who don’t feel engaged cost their dealership an average of $3,400 for every $10,000 in annual salary.
- Disengaged employees reduce operating income by up to 33 percent.
- Disengaged employees reduce earnings growth by up to 11 percent.
- When employees feel engaged, they generate sales through their personal online platforms, and content shared by employees receives eight times more engagement than brand channel information.
- Engaged employees are more likely to stay at their dealerships and contribute above-average productivity.
Communication with the Consumer Statistics:
- Thirty-four percent of new car buyers begin their search with mobile research.
- Sixty-two percent of employees say that when they feel engaged, they have happier customers — and happier customers lead to more business and more referrals.
- Eighty-five percent of mobile users feel more at ease with apps compared to mobile websites.
- Connecting and sharing via mobile marketing costs a fraction of other advertising and allows dealerships to reach and connect with more people on a regular basis.
- Nearly two-thirds of mobile marketers said mobile produced a return on investment, and 70 percent said the channel was a critical enabler of products and services — up 13 percentage points year over year.
“The average business with 100 employees spends 17 hours a week clarifying communication. In monetary terms, this costs the business approximately $528,443 annually.”
How to Strengthen Communication in the Workforce
The type of communication that’s often overlooked in a business is the communication between leadership and employees. In a study done by SocialChorus and Dimensional Research, 94 percent of employees said they wanted to hear more about what’s happening from leadership, and 86 percent of employees said they’d feel more engaged if they knew more about what was happening; yet 68 percent of executives said they do a good job of communicating, while only 21 percent of employees actually agreed with that.
To get you started, here are three simple steps a dealership can take to improve its communication and save money:
1. Provide an internal communication platform that’s easy for everyone to use.
2. Involve, acknowledge, and engage
3. Highlight career benefits of professional sharing on social media, and make it clear what you want employees to share. Forty-four percent of employees are unsure about what they’re allowed to share.
How to Strengthen Communication with Consumers
Communicating with consumers in today’s mobile-friendly environment via social media and mobile marketing is a necessity. Taking advantage of the mobile market, having an online presence, branding your dealership, and even creating an app are all innovative ways to strengthen your dealership’s communication with consumers in a cost-effective manner.
Consistently acknowledging and engaging with consumers online and through mobile marketing is a steadfast way to connect with current and potential customers. Cultivating a personality and providing a constant stream of beneficial information will gain positive attention and, in turn, brand recognition and more business.
Improving Communication Is Critical
Communication is critical to saving money and creating happier employees and customers. Engaged leaders have a profound impact on their employees, and engaged employees report happier customers, which makes all the difference in benefitting the dealership.
By strengthening communication, your dealership can save hundreds of thousands of dollars annually. It can also grow your brand and make your dealership accessible to all consumers and potential customers who use their mobile devices to shop – which is more and more shoppers every day.