This paid piece is sponsored by Eide Bailly LLP. A version of this article first appeared on EideBailly.com . By Justin Reilly, tax partner It could be a car, boat, ATV or tractor dealership. The dealership industry as a whole has seen accelerated change in the past few years. Dealers are seeing major shifts in how they work with customers. The “kick the tires” test no longer drives sales. Now, in an increasingly digital environment, many dealerships are adopting new technologies and strategies to give customers more options for interacting and transacting with them. For example, some dealerships now can conduct the processes of buying and finances entirely through phone, email and chatbot conversations. Some even provide virtual test drives and delivery services. For an industry that once proudly relied on engaging with customers face-to-face, this is a dramatic and complex shift. And an overhaul of this caliber may equate to a full-on business model transformation for your dealership. To understand the best new direction for your business – what should stay, what should go and what can be enhanced – take the following measures to start rethinking your business model. Reflect on the changes you’ve made As the […]
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