What Exactly is an Internet Sales 20 Group?

A "20 Group" is a group of dealers and or managers who do not compete with each other, and are usually from the same franchise or focus - there might be a "Used Car 20 Group" or an "Internet Sales 20 Group," etc. They get together for the sole purpose of "synergizing" with each other, and to learn from each other's businesses so they can all evolve and maximize the full potential of each other. The members of the 20 Group are willing to discuss in detail each other's operations. An Internet Sales 20 Group is a 20 Group that is solely dedicated to automotive Internet sales, business development and digital marketing.

An Internet Sales 20 Group is designed to help dealerships build their Internet department or Internet dealership or business development center, as well as maintain their initiatives and create the best scenario for maximum Return on Investment (ROI).

The reason why dealers and managers join a 20 Group is simple. They want to be more successful, and there is no better way is there to accomplish this than joining a business networking group of other dealers and managers - just like themselves - who are trying to do exactly what they are trying to do: sell more cars, more often with more profitably.

The most valuable aspects of a 20 Group are the composites and benchmarking. All the members in the 20 Group are required to fill out composites on different areas of their dealership, including: o New Car Sales o Used Car Sales o Gross Profit o Advertising Budget o Lead Generation (How many leads? From

What Lead Source Providers?) o Conversion Ratios (How many attempts to reach prospects? How many connections? How many appointments? How many appointment confirmations? How many appointment shows? How many sold? What is the status of all prospects that didn't sell?) o Vendors (Who is good? What do you pay for them? How do you keep them honest and consistent?) o Inventory and Pricing o Value Package Proposition o Coaching

If all of the dealers and managers in the 20 Group fill out these composites, they can track on a monthly basis where they stand, compared to the other dealers and managers in the 20 Group. They can see if they are below or above the 20 Group average, as well as industry / OEM benchmarks. Knowing this type of information alone is powerful.

Let's say, for an example, you are below a certain metric compared to your 20 Group. You have the resources of all the other members in your group to assist you in identifying why you are below, and then they can and will assist you in rectifying it immediately.

There are other benefits as well for being in the 20 Group, such as vendor and third party discussions and evaluations. There are many companies and programs in this industry targeted to dealer principals, GMs and dealerships in general. If you are in a 20 Group, you have the benefit of consulting your group on a particular vendor or program before you spend the money to try someone or something out. In this economy, you have to be careful of distractions disguised as opportunities.

Also, there is value being in a group. I have known a lot of 20 Groups that participate in-group purchasing. There is power in numbers. For example, your group might want or need a new social media package or platform; instead of negotiating with the vendor for just your store, there might be an opportunity for the vendor to earn the business of the entire 20 Group. For that opportunity, they are sure to give you the absolute lowest price and best deal.

There is another great function of a 20 Group: the "best idea." In this, members each kick in $20 to $50 into a pot and then each member submits a best idea or best practice. The group votes on the best one, and whoever wins gets the pot of money. Dealerships are creative. There are so many opportunities at a dealership, and so many different amazing and creative things dealerships do, that this is a great way for the 20 Group to share them with each other.

The most advanced 20 Groups are backed up with technology. Dealers and managers within a 20 Group can stay connected on a 20 Group technology platform that allows each of the members to communicate by e-mail, text, bulletins, etc. 20 Group members have their own profile, where they can upload their information and their dealership's information. Members can upload text articles, MP3s, pictures, video and any other information they feel is relevant. The groups create archives of useful information and content - anything from articles, photos, videos, scripts or templates, free resources, statistics, white papers, links and best ideas. Of course, they can archive for reference all of the composites and benchmarks, as well.

A 20 Group is lead by a subject-matter expert. The moderator will be the one who facilitates the 20 Group and is the liaison between the 20 Group and all of the members. They are in charge of making sure everything is running smoothly, as well as making sure each member has everything they need to participate in the 20 Group. The moderator is also in charge of holding the group members accountable to each other.

If you have any questions about Internet Sales 20 Groups, or if you would like to join an Internet Sales 20 group, please feel free to give me a call or e-mail.

Sean V. Bradley is the founder and CEO of Dealer Synergy, a nationally recognized training and consulting company in the automotive industry. He can be contacted at 866.648.7400, or by e-mail at sbradley@autosuccessonline.com.