Today on CBT News, anchor Jim Fitzpatrick is joined by Dennis McGinn, founder and Chief Executive Officer of Rapid Recon. Established in 2010, Rapid Recon is trusted by over 2,000 dealerships for improved vehicle reconditioning and dealership profitability. McGinn has worked with countless car dealers over the years by helping them decrease their time to line and sell cars faster.
Every car dealer knows that the profitability of their used-car inventory largely depends on the speed and efficiency of their reconditioning team. With tight new vehicle supply, it’s crucial for dealers to have their used car departments in tip-top shape. In this segment, McGinn discusses how car dealers can respond to this tight market segment by utilizing recon as a competitive tool.
Consumers are smarter than they have ever been before. With sophisticated technology at their fingertips, customers have already done their research and look to dealers to affirm that research. McGinn says that car buyers today don’t want to be sold to, they want to buy. The challenge here according to McGinn is that car dealers now have less and less time to build a trusting relationship with customers.
He explains that whoever makes contact with the customer first, needs to have all of the information available for them and then some. Keep the consumers on the phone until all of their inquiries have been sufficiently addressed. By leveraging the Rapid Recon software, car dealership members can provide granular information to the customer even if the used vehicle is not quite ready for sale. Telling the consumer where the vehicle is in the recon process and why is critical.
McGinn says, “I feel, you cannot afford to miss any one of those opportunities coming in because the customers are impatient now. They don’t want to be spending time hunting around.”
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