Digital Dealer - March 2020 - 11

all areas which allow an organization
to grow (or fail if proper planning is not
done). Do you know what your key objectives are this month, next year or over the
next five years?
Strategic planning builds business value
by identifying clearly defined goals and
creating a vision that provides a distinct

direction for the future. Engaging in the
process one time without a well thought
out plan of how to attack the future is not
a successful route to choose. Like your customers paying attention to the regular need
for tune-ups on their car, if they don't act
accordingly, the car more than likely does
not have a sustainable future. Therefore,

engaging in this process often provides the
opportunity for what we like to call "Reality
Alignments"; If you don't know where
you're going, and how you are going to get
there, the probability of ending up in the
right place is slim to none.
To submit article feedback, questions or topic
suggestions, email magazine@digitaldealer.com

" Like your customers paying attention to the regular need for
tune-ups on their car, if they don't act accordingly, the car more than
likely does not have a sustainable future.
"

over. Four fundamental areas
that you control are internal
capabilities, financials, products and services, and human
resources.
A hot point for manufacturers recently has been
"capacity." Are you fighting the
best fight in your market? Are
your marketing dollars giving
you the return that you need,
do you have enough support,
are you running too lean on
inventory (losing sales) or buried in a floorplan that cannot
be moved fast enough?

March 2020

b. Opportunities and
Threats (the O & T) are all
about factors operating outside the scope of your immediate control. Four fundamental areas here are the external
market direction, the industry,
disruptive innovation, and the
government.
A hot point lately has been
paying attention to online
reviews where dealers often
view these as uncontrollable.
It is becoming important to
the manufacturers that these
be dealt with because they
ultimately reflect the store
and brand. What do your
reviews say about you? What
does your CSI say about your
store? Are you delivering within range to the disruptors of
the industry within your sales
and service experience (firsttime customer in the service
drive, efficient sales delivery
process, not spending all day
at the dealership)?
The SWOT analysis is

designed to help you identify
critical issues that can make
or break you in attempting to
accomplish your mission and
vision.
Identify Objectives -

C Completing the SWOT

provides your organization
with a list of objectives or key
areas to focus on. This list
can get long, and most often
cannot all be accomplished
in a 3-5-year timeframe.
Some dealers prefer to work
on 3-10-year plans. What is
important here is that there
is a definite timeframe that
is manageable, communicated, and agreed upon by all
parties involved. The goal is
to ensure the objectives you
identify are tangible, achievable, and that they are in
alignment with your mission,
vision, and purpose. Also,
regardless of the timeline you
prefer, we always recommend reevaluating your stra-

tegic plan on an annual basis.
Select Strategic Pri-

D orities - Review your

list, and pare it down to issues
that are strategic in nature
and will have the most bang
for their buck. You should only
be left with a handful (suggested 3-5), and they should align
directly with where you are
looking to take the organization into the future.
Execute an Action

E Plan - Once you have

completed the first three
steps, you are ready to develop, communicate, and execute
the plan of action. We like to
use an Update Action Agenda
that organizes the process and
details the task, the team, and
the due dates. As soon as you
accomplish one of your objectives, celebrate, and then use
the Update Action Agenda to
move onto your next opportunity.

[ d i g i t a l d e a l e r. c o m ]

11


http://www.digitaldealer.com

Digital Dealer - March 2020

Table of Contents for the Digital Edition of Digital Dealer - March 2020

Digital Dealer - March 2020
Up to Speed|Tech, Dealer News, & People on the Move
Culture Three Tips to Improve Retention
Strategic Planning Strategic Planning for Sustainable Future
Leadership Five Lessons From Fearless Female Leaders
Spend Management Best Practices to Reduce Costs & Drive Profit
Fixed Operations What to Charge? How About a Little More Big Boss
Buy/sell a Generational Shift Is Boosting Buy/sell Activity
Meet the Speaker|q&a With Marketing Mastermind Phillip Stutts
Exclusive Interview With Jay Feldman of Feldman Automotive Group
Social Media q&a With Facebook
Speaker/session Spotlight|a Quick Look
Social Media Social Media Spring Cleaning
Ad Spend Marketing for Profit!
Cpo Toyota Led Record Cpo Growth
Fixed Ops Every Service Department Should Have a Salesperson Running It!
Fixed Operations
Digital Dealer - March 2020 - Digital Dealer - March 2020
Digital Dealer - March 2020 - Cover2
Digital Dealer - March 2020 - 1
Digital Dealer - March 2020 - 2
Digital Dealer - March 2020 - 3
Digital Dealer - March 2020 - 4
Digital Dealer - March 2020 - 5
Digital Dealer - March 2020 - Up to Speed|Tech, Dealer News, & People on the Move
Digital Dealer - March 2020 - 7
Digital Dealer - March 2020 - Culture Three Tips to Improve Retention
Digital Dealer - March 2020 - 9
Digital Dealer - March 2020 - Fixed Operations
Digital Dealer - March 2020 - 11
Digital Dealer - March 2020 - Leadership Five Lessons From Fearless Female Leaders
Digital Dealer - March 2020 - 13
Digital Dealer - March 2020 - Spend Management Best Practices to Reduce Costs & Drive Profit
Digital Dealer - March 2020 - 15
Digital Dealer - March 2020 - Fixed Operations What to Charge? How About a Little More Big Boss
Digital Dealer - March 2020 - 17
Digital Dealer - March 2020 - Buy/sell a Generational Shift Is Boosting Buy/sell Activity
Digital Dealer - March 2020 - Meet the Speaker|q&a With Marketing Mastermind Phillip Stutts
Digital Dealer - March 2020 - 20
Digital Dealer - March 2020 - 21
Digital Dealer - March 2020 - Exclusive Interview With Jay Feldman of Feldman Automotive Group
Digital Dealer - March 2020 - 23
Digital Dealer - March 2020 - 24
Digital Dealer - March 2020 - 25
Digital Dealer - March 2020 - 26
Digital Dealer - March 2020 - 27
Digital Dealer - March 2020 - Social Media q&a With Facebook
Digital Dealer - March 2020 - 29
Digital Dealer - March 2020 - Speaker/session Spotlight|a Quick Look
Digital Dealer - March 2020 - 31
Digital Dealer - March 2020 - 32
Digital Dealer - March 2020 - 33
Digital Dealer - March 2020 - Social Media Social Media Spring Cleaning
Digital Dealer - March 2020 - 35
Digital Dealer - March 2020 - Ad Spend Marketing for Profit!
Digital Dealer - March 2020 - 37
Digital Dealer - March 2020 - Cpo Toyota Led Record Cpo Growth
Digital Dealer - March 2020 - Fixed Ops Every Service Department Should Have a Salesperson Running It!
Digital Dealer - March 2020 - 40
Digital Dealer - March 2020 - Cover3
Digital Dealer - March 2020 - Cover4
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