Running an automotive auction consists of managing multiple moving parts. It’s a lot to track and organize and, without a CRM system, you are only work at half capacity. Customer Relationship Management (CRM) software allows you to streamline the auto auction process so you can leverage all of the auction information to improve your business management.
A custom auto auction CRM software can manage and track all of your business activities, including:
- Inventory Management
- Tracking Operations and Reconditioning
- Capturing Participant Information and Following Up on Leads
- Marketing for Future Auctions
- Managing Finances and Business Accounting
Instead of trying to track all of this individually, the CRM system finds a place to easily capture, store and manage all of this information in a single software program. CRM provides many benefits over other auto auction management techniques.
Streamline Your Business
From marketing to sales to accounting, a CRM system touches all corners of your business operations. Many people think of CRM as a sales-only tool, but when every department can work cohesively on the same system, the entire business process is streamlined so the business can grow together.
Ability to Access Anywhere, Safely and Securely
No matter where you are or what device you are using, you can log onto your CRM system and access all the information you need to make your auction business a success. Thanks to cloud computing, your data is available at the home office and on the auction lot. This also keeps your data more secure than storing it in one place. Cloud computing utilizes encryption and various access levels so if someone grabs your login information, they won’t immediately have an open door to all of your information. This prevents hacking and fraud from occurring in your business.
Every auction attendee is a potential lead. When you are not gathering their information and then building a continuous relationship with that attendee, you are missing out on huge sales opportunities. A CRM system allows you gather leads, track your interactions with them and grow a beneficial relationship without spending a ton of time organizing Excel spreadsheets. The best part – anyone can pull up user information and pick up where the last guy left off in the sales funnel process.
Increase Sales and Save Money
Businesses who utilize a CRM system saw a 10 percent increase in cash flow and a two percent increase in profit margins the first year, according to Hubspot. But CRM doesn’t only help increase sales. Money is saved in all departments because the features of a CRM system take away the need for budgeting on acquiring leads and moving them through the sales funnel. It’s an all-in-one system that provides wiggle room in a budget.