The Key Performance Metrics in Merchandising a Dealership Photographically
Transcript
Kelly : You mentioned data earlier. So that’s a good question to kind of bring up with you. Which metrics are most important to deliver for a vendor who makes a living, taking impactful pictures that hopefully move units?n
nPeter : Time to market, right time to market and making sure basically, general managers are just like you and me, right? So if they buy a service, they don’t want to deal with anything, right? So if I buy a marketing service, you tell me, you can do my Google AdWords, cool, Sign me up. I’m the man, don’t ask me for anything, just get it done. I have 100 other things to do, right? So for a general manager for us, if you’re going to take this process in house, or whether you’re going to hire a visiting photo vendor, they just want to know that it’s done. And so the proof is in the pudding visually, obviously, the photos need to be great. And if they’re not great, then you’re not doing your job. That’s number one. n
nBut number two, are they getting online as fast as possible. So like I mentioned before, photos, bring the car to market, hands down, there’s no debating that everyone knows that. So the time that you take your car in from trade or auction or wherever you acquire that car to the point it gets photos, that’s your time to market. And so the smaller that you can reduce that, the more money you’re going to make gross on the car, right? It makes sense. Now take that to scale at any one dealership. And we have that now down to a science where we have the time to market it’s displayed, it’s given to our dealers every morning, photo reports are there. And ours is an in-house solution.n
nSo there is some work, excuse me, solution. So there is some work to do there at the dealership. But the point of an in-house solution is that you have control over that, it doesn’t necessarily mean that you have to watch it all the time, because that’s what we would hire someone like us to do. So you give us a person, we quality control, train, do all that stuff and are watching that for you. And that’s kind of our solution, right? n
nWe use our iPad Pros, we have mobile data management, we do everything there. We’re in communication with the photographer all the time by talking text, because they’re young kids usually, and you just want to make sure that you’re on the same page with them. But the main metric is time to market then after that. It’s what percentage of my cars are online all the time, you know, if you have 100 cars, 10 to 15 of them are going to rebound, right? Because that’s what’s going on all the time. n n
nPeter : Time to market, right time to market and making sure basically, general managers are just like you and me, right? So if they buy a service, they don’t want to deal with anything, right? So if I buy a marketing service, you tell me, you can do my Google AdWords, cool, Sign me up. I’m the man, don’t ask me for anything, just get it done. I have 100 other things to do, right? So for a general manager for us, if you’re going to take this process in house, or whether you’re going to hire a visiting photo vendor, they just want to know that it’s done. And so the proof is in the pudding visually, obviously, the photos need to be great. And if they’re not great, then you’re not doing your job. That’s number one. n
nBut number two, are they getting online as fast as possible. So like I mentioned before, photos, bring the car to market, hands down, there’s no debating that everyone knows that. So the time that you take your car in from trade or auction or wherever you acquire that car to the point it gets photos, that’s your time to market. And so the smaller that you can reduce that, the more money you’re going to make gross on the car, right? It makes sense. Now take that to scale at any one dealership. And we have that now down to a science where we have the time to market it’s displayed, it’s given to our dealers every morning, photo reports are there. And ours is an in-house solution.n
nSo there is some work, excuse me, solution. So there is some work to do there at the dealership. But the point of an in-house solution is that you have control over that, it doesn’t necessarily mean that you have to watch it all the time, because that’s what we would hire someone like us to do. So you give us a person, we quality control, train, do all that stuff and are watching that for you. And that’s kind of our solution, right? n
nWe use our iPad Pros, we have mobile data management, we do everything there. We’re in communication with the photographer all the time by talking text, because they’re young kids usually, and you just want to make sure that you’re on the same page with them. But the main metric is time to market then after that. It’s what percentage of my cars are online all the time, you know, if you have 100 cars, 10 to 15 of them are going to rebound, right? Because that’s what’s going on all the time. n n