There is untapped capital hiding inside your daily customers’ data right now.
Don’t believe me?
This is important because, in today’s competitive marketplace, data is as good as gold.
Studies show that 55% of a business’s data is unknown or “dark.” In today’s tough competition, this data is as valuable as gold.
That’s where auto repair estimating software comes in handy. It gives you insights into your customers, giving your auto shop a strategic advantage. MIT research even proves that businesses using data had 6% higher profits than others. Plus, this software can save you time and money while making your shop more productive.
The key is finding smart ways to understand and use this information, turning hidden data into better decisions and more money.
Let’s dive into how using auto repair estimating software can help your shop make more money!
1. Use Data to Improve Your Business Decisions
Nowadays, technology makes data more accessible and easier to understand. Auto repair shops can use data from their auto repair estimating software to stand out.
You can use the data from auto repair estimating software to offer personalized services.
By offering more personalized services, businesses can:
- Get more repeat purchases from existing customers: There’s a 60-70% chance of selling to an existing customer compared to 5-20% for a new one.
- Companies that give accurate data to their sales teams help them find customer problems and get new leads. Creating personas, or profiles of typical users, is a great way to understand what customers need and want.
2. Increase the Success of New Services and Products in your Shop:
With auto repair estimating software, you can make your new products and services more successful!
It’s not just about meeting what your customers want now; it’s about figuring out what they’ll want in the future.
Over a quarter of the money businesses make comes from introducing new stuff. If you use data to understand your competition and the market, you can see what’s happening now and predict what’s coming next.
Once you launch something new, keep an eye on how people are reacting to it in real-time. This helps you see if you need to make important changes to make it more successful.
3. Save Money by Cutting Costs:
Using automotive repair estimating software is a smart way to save money.
This software can show you where your shop spends a lot of time and money. This way, you can use technology to do those things faster and cheaper.
Research says that businesses using technology to do tasks see their money grow more than twice as much.
4. Track Labor Performance and Needs
Reports from mechanics and workers give you a detailed look at how your team affects the business.
These reports can tell you how much money you’re spending on labor in a certain period.
Connecting performance and holding employees responsible using data makes it fair to reward or discipline them.
For instance, a point-of-sale (POS) system, like Revel, links every purchase to the employee who worked at the cash register. This links sales to specific people, making it easier to pay your team properly, especially if your business is based on commissions.
Looking at your sales over a year might reveal that you make less money in the summer. This means you don’t need as many staff during that time.
An auto shop might notice that business is really good during weekends. Using this data, they can realize they need to hire an extra employee to handle all the shoppers.
5. Maximize Inventory with Inventory Data
Make the most of your stuff with inventory data.
Wondering if you have enough items or the right ones?
That’s where inventory reporting comes in handy. It tells you what’s selling fast and what’s not, helping you buy the right things.
Good inventory tools connect to the sales system, so your stock updates automatically when you make a sale. This not only makes things easier but also cuts down on mistakes from doing it by hand.
Having a clear process helps you stay on track. This applies to building a strong data foundation too. With a good foundation, you’ll tackle inventory challenges more easily.
6. Marketing Automation
Auto repair estimating software can help you do that. For instance, Torque360 has an email campaigner module that allows you to run an automatic email campaign to retain customers.
Here’s how it works: You set up a series of emails that are sent automatically to potential customers. These emails guide them through the process of deciding to choose your business. It’s like having a helpful assistant doing this for you!
To make it work really well, you can send different messages to different groups of potential customers based on specific things about them. For example, you can send one set of messages to people who own homes and a completely different set to those with building permits. The best part? It’s all done automatically and timed to match when they are likely to make a decision.
Once these potential customers are ready to make a purchase, you can use job management software like Moraware to schedule follow-up calls with your sales team to close the deal.
The coolest thing about automatic marketing is that it’s hands-free. You set it up once, and it keeps working in the background, following up with potential customers and helping them through the process – all without you having to do it all manually.
7. Understanding your Audience
Ever feel like you’re playing a guessing game with your customers? Well, it’s time to level up! Audience profiling is like having a secret decoder for your target audience.
Imagine knowing not just their age and location but also whether they’re tweeting up a storm on Twitter or chilling on Facebook. Picture this: you can tap into their favorite TV shows, the beats they groove to on the radio, and even what they believe in.
Meet your new sidekicks in this superhero journey: Synergos Technologies and MediaMark Research & Intelligence. These wizards don’t just help you understand your customers; they practically predict the future of what they’ll buy next!
Now, why is this intel so valuable? It’s like having a treasure map of your customer base.
8. Smart Targeting
Lastly, Let’s talk about some savvy moves to reach your customers smartly.
Understanding your audience is key, right?
Knowing where they are hanging out online is like uncovering a treasure map.
With the help of auto repair estimating software, you can do smart targeting.
With smart targeting, you can launch effective marketing campaigns on social media, Google, YouTube, and other spots your competitors might be missing.
Now, check out this cool strategy – mobile targeting. More people are using their phones for everything, including Google searches. If you’re not advertising on phones yet, it’s time to start. Reach people through apps like Pandora and TripAdvisor. And guess what? Google AdWords lets you create ads just for phones, and you can control your spending.
But here’s the interesting part – retargeting. It’s like having a digital memory that follows potential customers online. Google, Microsoft, and even Facebook offer this useful trick. So, if someone checks out your website, why not show up with a special offer when they’re online? It’s like leaving a mark in their minds without them even realizing it.
It’s clear that embracing advanced technology isn’t just about efficiency; it’s a strategic move toward a more lucrative future for your auto repair business. The discussed benefits, from unlocking hidden customer data to saving time and costs, underscore the transformative power of estimating software.
So, take the wheel, embrace the technology, and steer your shop towards a more prosperous future.