Investing in Your Employees

Your employees are the lifeblood of your business and finding the right team members for your dealership isn’t always easy. On top of that, according to Human Resources Today, turnover can cost your dealership anywhere from 16% to 213% of your past employee’s salary. That’s why it’s increasingly important to let your employees know you value their work by investing in them both personally and professionally. We’ll dive into four different ways you can strategically nurture your employee relationships to avoid turnover and increase overall productivity and success in the workplace.

Increase Training - Onboard training is pretty standard - but are you offering additional training to current team members? It’s important to continually provide opportunities for training and educational workshops to show employees that you value their current expertise and want to help them grow and expand their skill set. There are always new and improved techniques to try - especially in the sales world - and the more you equip your employees with the latest and greatest, the more they can help your dealership thrive. We’d recommend hosting the trainings specific to your dealership yourself, but then leveraging an online solution for more general training. There are even some free options - like these from RAIN Group. No matter how you choose to source this information - we’d suggest developing a library that your reps can reference as needed, in addition to continually adding new programming for them to leverage.

Invest in Technology and Tools - Help your employees help you by offering them the tools and technology they need to better do their jobs. According to the Staples Business Advantage Workplace Index, “3 out of 4 respondents say their employers don’t give them access to the latest technology to do their job efficiently.” When employees are not equipped with proper technology and tools, they can become discouraged and unmotivated to do their best work. Not sure what your employees might need? Start an honest and open conversation. It will help you in the future - trust us. A few top resources that we recommend would be:

• Tableau makes it easy for your sales team to see and understand your dealership’s data by automatically turning numbers into visual charts and graphs.

• Wistia gives you the power to record your webcam or screen so you can conduct an online demo or record an online presentation to share with your team.

• FullStory gives you a better understanding of what potential buyers are doing on your site by recording every visitor’s session on your website. 

Encourage and Allow Feedback - Feedback, both good and bad, can help make a business stronger in the long run. That’s why it’s crucial to give your employees the opportunity to make their voices heard. This could be in the form of an anonymous survey or an open forum at a dealership meeting - though you will most likely get the most honest feedback if you let the employee maintain their anonymity. No matter how you receive the feedback, avoid getting defensive when suggestions or issues come in and be sure to hear your employees out fully before responding. By eliciting feedback, you’re giving your team members the opportunity to share their feelings, shed light on problems, and make the workplace better all around. We recommend doing these surveys on a quarterly basis so you are keeping a pulse on morale throughout the year. These don’t need to be extensive surveys - just enough to let your employees know you care about their experience with your company.

There’s No I in Team - It’s easy to have a lone wolf mentality when working in sales. But it’s still crucial to make sure your employees feel like a team and that’s why giving your employees the opportunity to come together is so important. A study by the Kenexa Research Institute found that companies with highly engaged employees achieve twice the net annual income of companies whose employees aren’t engaged. Team building activities are so important to businesses - both large and small. They help to engage and retain employees by improving communication and encouraging collaboration. Host a happy hour, set up a scavenger hunt, or participate in a community service project as a team - the opportunities are endless - and keep in mind, you don’t have to do something overly extravagant. No matter what you choose your employees will appreciate your efforts.

We hope these tips have encouraged you to find new ways to invest in your employees. After all, they are the ones who have helped make your dealership what it is today. If you’re looking for more employee-focused tips, check out our previous blog covering the importance of Employee Appreciation. Do you have any tried and true methods of investing in your employees? Let us know your suggestions in the comments below.

The Top Searched Makes and Models for Q1

We may be over a month into Q2 - don’t ask us where the time went - but let's take a minute to catch up on the top searched makes and models on Cycle Trader in the first quarter of 2019. We saw some similarities, as well as a few differences, in trends both year over year and quarterly that we think you’ll find interesting. So, let’s get to it. Here are your top consumer searches for Q1.

Top 5 searched models of Q1 2019:

• Dirt Bike
• Cruiser
• Trike
• Sportbike
• Dual Sport

Dirt bikes continue to be our number one searched type with 17% of total searches in Q1 2019 - that’s 650,000+ consumers looking for these units. Dirt bike searches are down just 1% year over year (YOY). but have remained steady since Q4 2018. Offroad units across the Powersports industry are rising in popularity - so we’re not surprised to see this continue in the #1 position. Next up, cruisers jumped to second place this quarter with 11% of searches. They rose significantly in the ranks considering they placed fourth last quarter and fourth in Q1 2018. Trike models rounded out third place with 10.6% of searches, falling just one place from last quarter and two places YOY In fourth was Sportbikes with 10.3% of total searches, falling one place from last quarter and YOY and, last but not least - dual sport bikes remained in fifth place with 9% of searches. We are interested to see how these numbers shift in as we move further into 2019.

Moving on to the top makes of Q1 2019.

Top 5 searched makes of Q1 2019: 

• Harley-Davidson (47,000+ units listed) 
• Honda (40,000+ units listed) 
• Yamaha (27,000+ units listed) 
• Kawasaki (31,000+ units listed)
• Suzuki (18,000+ units listed)

The top five makes remain consistent Y.O.Y. but we have seen some changes since last quarter. Harley-Davidson continues to dominate searches coming in first. 22% of our consumers searched for the Harley-Davidson in Q1 2019 (that’s 5+ million searches). Despite what’s been widely reported about this manufacturer’s recent declines - they still continue to dominate due to their storied history and huge brand recognition within the industry. Honda secured second place with 17% of searches and Yamaha rounded out third with 11% of total searches. Kawasaki came in fourth place at 8% and Suzuki slid into fifth place with 7% of searches. Last quarter, Suzuki didn’t make the top five so we’re happy to see them gain some search traction. Maybe it’s the return of their Katana model that’s got everyone excited. The 2020 model will be hitting dealerships in the fall of 2019, after it was announced a nearly year before. We curious to see if they continue to climb in standings this quarter, but only time will tell.

Stay tuned for that report coming this July and let us know how your dealership compares with our findings in the comments below.

How to Deal With Negative Reviews or Complaints

We covered the importance of online reviews in our last post - but what happens when you receive a less than flattering online business review? While we hope all of your reviews are glowing and positive, there are times when customers might feel they’ve had a negative experience and voice their complaints. Reviews, and how you handle them, have the ability to either make or break your business - especially considering:

• 67% of consumers are influenced by online reviews (1)
• 85% of consumers trust online reviews as much as personal recommendations (2)
• 74% of people who see customer reviews on a business website say they would contact the business (2)

We’ll dive into a few tips on what to do if you receive a negative review or complaint online.

Read the Review Thoroughly - It’s easy to become fired up after you read the first line of a seemingly negative review. But before you get defensive, take a step back and put yourself in the customer’s shoes. Take a few minutes to read the review thoroughly so you can understand the customer’s perspective fully.

Understand What Happened - Before responding to the review, make sure to consult anyone within your dealership who may have interacted with the customer. This doesn’t have to take a ton of time, just quickly get their side of the story and understand where the issue may have occurred.

Take the Conversation Offline - Try offering a simple statement at the end of your response saying something like, “If you’d like to chat about this concern further, my name is XXXX. Please feel free to reach me at (insert phone number, email, or both).” This shows that if they have additional comments/concerns, they can contact you directly to get them solved quickly.

Respond Quickly - Ignoring a review won’t make it go away - as much as you might it want to. You need to tackle BOTH negative and positive reviews head-on. According to the Local Search Association, most consumers expect a brand or business to respond within 24 hours. We encourage you to avoid passing that 24-hour window if possible, especially when it comes to negative reviews. If other individuals who are browsing through your reviews see unanswered concerns, that might motivate them to take their business elsewhere. Think about it this way - you aren’t just responding to an unsatisfied customer, you are catering to anyone and everyone who reads that online review.

Stay Calm, Cool, Collective, AND Professional - Remaining professional is crucial when dealing with negative online reviews. Avoid getting heated in your response and start by addressing the customer by name and apologizing for their less than satisfactory experience. If they have posted a lengthy review, make sure to respond to each one of their concerns. Your customers want to feel like they are being heard and that their feedback is valuable.

Put a Positive Spin on the Situation - Look at responding to reviews as not only an opportunity to right a wrong but also as an opportunity to promote the best parts of your business. Try promoting what your business does well while addressing the consumer’s issues at the same time. For example, “Our dealership is widely known for our excellent customer service and we apologize for missing the mark.”

Look at it as a Learning Experience - We recommend going over negative reviews with your employees. It’s important to make sure your entire team is on the same page and that they know exactly what customers might have issues with. If your employees are made aware of negative reviews, they can take action in the future to eliminate issues before they even occur.

Remember, if you respond to reviews the right way and address a customer’s complaint, you could always receive an updated review from the same customer praising how you handled the situation. Reputation is everything in the business world and we want to make sure you are always looking your best online. So, good or bad - make sure you’re responding to your online reviews and tackling any issues head-on and professionally.

1 - Moz

2 - Stat Labs

Using Facebook For Your Business

Last month we touched on the importance of social media as a whole from the business perspective (if you missed it, catch up here). Now we’ll take a deeper dive into specific social media platforms and how you can use them to your advantage. Let’s take a look at what Facebook, in particular, offers business owners and what you can offer your customers by using this platform. 

Facebook currently has 2.32 billion monthly active users worldwide, and that number continues to grow by the second (1). If you’re wondering if your target audience is on these platforms, the answer is a resounding yes. In fact, 78% of American consumers have discovered retail products to buy on Facebook (2) and 77% of B2C companies said they have acquired new customers through (3) the platform - and, if you put in the time and effort, this could be you.

But before you start a Facebook page for your dealership, you might be curious as to what the social media platform can really offer your business. Facebook gives you the opportunity to grow your company’s brand awareness, it allows you to connect with your customers in a new, organic way, and lets you reach an untapped market of people who might be interested in what you’re selling.

If you’re not sure where to start - or are just looking for some overall guidance around Facebook - we’ve got some best practices for you to consider.

If You Can’t Beat Em’, Join Em’ - There are thousands of small businesses on Facebook, so the first step in getting a leg up on your competition is joining yourself. Setting up a page is simple - but if you need help, keep reading - we’ve got an awesome product for you.

Make Sure Your Information is Up-to-Date - Whether you’re just creating a Facebook page, or if you’ve been on the platform for a while, you need to make sure all of the information you have listed is up-to-date and accurate. Consumers often go searching on a company’s Facebook page for information like location, phone number, website, and more. Don’t leave them hanging - have all your information out there so it’s easily accessible. Also, we encourage you to not leave anything bare on your Facebook page. Make sure you include something short and sweet in your “About Us” section. We recommend including a few sentences highlighting your dealership’s mission, expertise, or anything that might make you stand out from the competition.

Have Eye-Catching Profile & Cover Photos - First impressions mean a lot when it comes to Facebook. Your profile picture and cover photo will be the first thing a consumer sees when they come to your page - make sure they stand out. We suggest having a photo that includes your branding and we recommend that you stay consistent with your photo choice so consumers will recognize your brand as they browse through Facebook. Changing it too often could leave consumers confused, so keep that in mind if you choose to update.

Post Regularly (but not too much) - How much is too much? Good question. According to Inc., posting once a day on Facebook is the ideal amount. It’s important to avoid over-saturating consumers with content so that when you do post, they are ready to react and engage with it. The best time to post on Facebook, according to Hootsuite, is between 12 p.m. and 3 p.m. Monday, Wednesday, Thursday, and Friday and on the weekends from 12 p.m. to 1 p.m. - keep these days and times in mind when posting your content for optimal engagement.

Share a Variety of Content - Facebook is a great way to showcase your inventory, and we definitely recommend using it for that, but consumers want to see more than just what’s on your lot. We always like to point out that you are an industry expert, and consumers crave information you have to offer. That’s why we encourage you to post a variety of content. For example, creating/posting videos or blog posts on “What All New Riders Need to Know”, or “Tips for Finding Your Perfect Ride”, etc. can be useful information that your customers want to engage with. Be a resource for your potential customers. If you don’t have time to create that content on your own, you can always share it from other industry sources. For instance, the Cycle Trader consumer blog has lots of this content and you can easily re-post it.

Respond to Consumers in a Timely Fashion - We live in a world that is used to instant gratification - especially on social media. That’s why it’s important to respond to consumers in a timely fashion whether it be through a comment or on Facebook Messenger. Check your notifications regularly and make sure to respond as soon as you see a message. Keep in mind that Facebook shows how quickly you respond directly on your business page - and like we said earlier, first impressions are everything on social media.

Utilize Facebook Stories - Page Stories allow you to share content that represents your business directly from your phone or mobile device. Stories were designed so you can engage with your audience in a more frequent and casual way. Facebook Stories allow you to share short videos, and photos that appear at the top of the News Feed in a highly visible area. We recommend experimenting with Stories as it can help humanize your brand and show off your business’ personality. Learn more about stories, here.

There you have it. The tips you need to know on using Facebook for your business. Are you interested in having a presence on social media, but just don’t have the time or resources to make it happen? Cycle Trader can help. Our GoSocial product can kickstart, or supplement, your existing social media efforts by managing your Facebook for you. GoSocial includes weekly posting and management for Facebook, a dedicated monthly advertising spend, and monthly in-depth reporting - saving you valuable time and costing a fraction of what it would take to hire a team. And if you don’t already have a page, we’ll even help you set one up. If you’re interested in learning more, contact your Cycle Trader representative today at 888.747.1192. They’ll walk you through all the details.

1 https://zephoria.com/top-15-valuable-facebook-statistics/

2 https://blog.hootsuite.com/facebook-statistics/
3 https://www.adriennerichardson.com/facts-and-stats-about-facebook-and-your-business/

It’s Time to Get Social

Social media has really taken over in recent years and we don’t see this trend dying out any time soon. So even if your current marketing strategies are working, it’s important to stay competitive and to reach your customers where they are - and they’re on social media. We’ve got the stats to prove it.

• There are currently 3.4 billion active social media users1
• There’s a new social media user approximately every 10 seconds1
• The average daily time spent on social is 116 minutes a day2
• 21% of consumers are more likely to buy from brands that they can reach on social media3

So if you haven’t hopped on the social media bandwagon yet - or even if you have - let’s review why you should include social media as part of your business strategy.

Helps Build Brand Awareness -

Building awareness is key when it comes to promoting any brand or business. So it’s no surprise that according to a survey conducted by Small Biz Trends, 44% of local businesses said they depend on social media to generate brand awareness. And you know who is probably part of that 44%? Your competitor. So unless you want them being the only local dealership consumers are aware of then you might want to make sure you join them and start having a presence on social media yourself. Having a social presence allows you to stay visible and relevant to both returning and new customers. By posting consistently on social media, you have the power to be a recognizable voice in your industry and the local community - keeping consumers coming back for more.

Allows You to Engage With Your Customers in a New Way -

As we mentioned earlier, your customers are on social media. So if you’re not, you have the opportunity to reach a completely untapped market of people who could potentially be interested in either buying a motorcycle or looking for advice from a trusted source just like you. It’s also important to realize consumers love authentic engagement, and social media lets you interact and build relationships with potential customers in an organic way.

Helps Show Your Brand’s Personality and Expertise -You are an expert in your field, and you need to show that off - there’s no need to be modest. Social media gives you the opportunity to share your expertise and advice with your customers and position your dealership as, not only a place where someone can make a purchase, but a place where interested buyers can come to gain knowledge about the industry as a whole. It’s also important to realize that social media can be fun. By using various platforms, you have the opportunity to show off your dealership’s personality through the different posts and content you create. If you’re interested in creating videos that you can post on social media, click here for our tips on creating video content. Consumers love brands with personality - and it’s crucial to humanize your business so potential buyers feel comfortable and welcome right off the bat, even before visiting your dealership in person. It’s important to put the focus on the conversation you are having on social media rather than just the inventory you’re trying to sell. Don’t get us wrong - posting inventory can be great, but posting advice, tips, and tricks can also go a long way in building relationships with your potential buyers.

Can Help Drive Leads and Increase Traffic -If new information or content is just sitting on your website, it’s going to take a lot longer for consumers to find it. That’s where social media comes in handy. When you are consistently posting (and linking your site) on social media, you are giving consumers more of an opportunity to find this valuable content on your website, in turn, boosting your traffic. Don’t forget that social media is a tool - make sure you are using it to your advantage.

If you want to have a presence on social media, but just don’t have the time or resources to make it happen, Cycle Trader can help. Our GoSocial product can kickstart, or supplement, your existing social media efforts by managing your Facebook for you. GoSocial includes weekly posting and management for Facebook, a dedicated monthly advertising spend, and monthly in-depth reporting - saving you valuable time and costing a fraction of what it would take to hire a team. And if you don’t already have a page, we’ll even help you set one up. If you’re interested in learning more, contact your Cycle Trader representative today at 888.747.1192 - they’d love to walk you through it.

Oh, and if you’re craving more social media content, you’re in luck. We’ll cover specific social media channels and tips on how to use them in future posts - stay tuned. To hold you over until then, check out our tips on using Instagram for your business here.

1 https://www.brandwatch.com/blog/amazing-social-media-statistics-and-facts/

2 https://www.socialmediatoday.com/marketing/how-much-time-do-people-spend-social-media-infographic

3 https://sproutsocial.com/insights/social-media-statistics/

2019 Marketing Trends You Need to Know

It’s no secret that digital marketing is here to stay, but it’s important to keep in mind that the landscape is also ever-changing and evolving. It can be hard to keep up with the trends at the rate they are moving - that’s why we’re here to help. We’ll break down the marketing changes, updates, and trends that are on the rise in 2019. Check out our findings below.

Content Still Matters - We like to say that content is king around here (alright, Bill Gates likes to say it too), and the phrase still rings true in 2019 as content marketing is on the rise. Generalized content can be useful, but more and more businesses are creating specialized and personalized content specific to their industries - and they are seeing big-time results. According to HubSpot, 55% of marketers say blog content creation is their top inbound marketing priority; so if you don’t already have a blog or a resource center - it might be something to consider so you can provide helpful content to your potential buyers. A few examples of helpful content could be as simple as creating a buyer’s checklist or writing a quick article/blurb on how to determine the right bike for you - the possibilities are endless. Remember, you are an expert in your field and consumers want to hear from you. We are fully aware that creating content takes time and effort, but it’s important to keep in mind that you want to market your business as not only a dealership, but as a true resource center for potential buyers.

Time to Up Your Video Game - Did you know that according to Forbes, YouTube is America’s most popular social media platform? Consumers LOVE video content and we expect to see that trend grow as the year progresses. It’s important to use video to your advantage to better reach your customers. Video content can show off your dealership’s personality and it’s an effective way to get important information out quickly and clearly. Check out our additional tips on incorporating video into your business strategy here.

AI is on the Rise - Have you heard of artificial intelligence aka AI? If you haven’t, we’ll catch you up. To put it simply, AI is the simulation of human intelligence processes by machines, especially computer systems.1 Computers are getting smarter by the minute and while we didn’t think that they could be as smart as the human brain… we are starting to see a shift. While that may sound slightly scary, AI can be used for marketing purposes and we expect those uses to rise in 2019. So what is AI marketing, exactly? Glad you asked. AI Marketing is a method of leveraging customer data and AI concepts, like machine learning, to anticipate your customer’s next move and improve the customer journey.2 By gathering this big data, AI marketing can help businesses better target consumers by boosting campaign performances, and increasing ROI in the long run. We are going to keep a close eye on AI marketing this year, and we’ll even break down how Cycle Trader actually uses this technology in a future post - stay tuned.

Voice Search - Smart speakers are becoming a common sight in your average household. “Alexa do this”, “Siri do that”, and “Ok, Google” are also becoming common utterances we hear and use on a daily basis. Voice search is on the up and up and we only expect this to rise exponentially as these speakers get more advanced. In fact, according to research conducted by NPR and Edison Research, 39 million Americans use smart speakers and 65% of them say they wouldn’t want to go back to life without their voice-controlled assistant. Consumers are searching for anything and everything with voice search, so if they search for your dealership’s hours or directions to your dealership - will they find up-to-date content? It’s important to make sure all of your information is current so consumers can find it when using voice search. Smart speakers were created to help consumers in a new way, and businesses have taken notice. We expect to see advertisements make their way into the smart speaker world sooner rather than later, which means buying voice ad space could be a new marketing tactic in the future - only time will tell.

Social Media Stories - If you’re not using social media for your dealership, we suggest jumping on the bandwagon ASAP. Social media usage is consistently on the rise and we are seeing particular interest in not only posting regular content, but participating in social media stories. This is an important tool to consider when planning your social media strategy. From Instagram, to Snapchat, to Facebook - there are plenty of new ways to get your stories out there. To keep it simple, stories enable users (like you) to create photo and video collections that can be viewed only a few times before disappearing after 24 hours. You can add to your stories throughout the day and add fun text, GIFs, and graphics to your posts to tell your brand story, highlight an event you have coming up, or poll customers on questions you’re eager to ask. We suggest experimenting with this feature as it will no doubt become more and more popular in 2019.

There you have it. The top 5 marketing trends you need to be aware of in 2019 - it’s hard to believe we are already two months in. As always, we’ll continue to keep you aware of any marketing trends, changes, and updates we see throughout the year. As we mentioned, the digital marketing landscape is always changing - but we’re here to keep you in the know.

1 TechTarget
2 Emarsys

Top Searched Makes and Models of Q4 2018

It’s hard to believe that 2018 has come and gone. Let’s take a look back to see what Cycle Trader consumers were searching for in the last quarter of 2018. We’ve seen a few consistencies, as well as a few changes, we think you’ll find interesting and informative. So, the wait is officially over - your Q4 roundup is here.

Top 5 searched models of Q4 2018:

• Dirt Bike 
• Trike 
• Sportbike 
• Cruiser 
• Dual Sport 

Dirt bikes took the top spot in Q4 2018, making up 17% of total consumer searches. The models have gained 3% of searches since last quarter but saw a slight decline of 2% Y.O.Y. We have consistently seen dirt bikes remain the #1 searched model on Cycle Trader. Trikes came in second with 11% of total searches - down 1% from last quarter and also down 1% Y.O.Y. Sportbikes secured third place with a total of 10% of searches, down just 1% Y.O.Y. Cruisers came in fourth place with 9% of searches, and dual sport motorcycles rounded out fifth with 9% as well. It is interesting to note that we did see a shift in placements Y.O.Y. In Q4 2017, scooters came in third place, while cruisers took fifth. We are interested to see how these numbers shift in 2019 - only time will tell. Let’s dive into the top makes of Q4 2018.

Top 5 searched makes of Q4 2018:

• Harley-Davidson 
• Honda 
• Yamaha 
• Kawasaki 
• BMW 

The top five searched models of Q4 remain consistent Y.O.Y., with Harley-Davidson continuing to dominate the searches on Cycle Trader. Harley took first place with 21% of all total searches on our site in Q4 2018 - that’s 3.6 million searches. Honda came in second with 17% of searches (consistent numbers Y.O.Y), and Yamaha secured third with 11%. Kawasaki placed fourth with 8% of total searches and BMW rounded out fifth place at 7%. While the numbers and placements remain fairly consistent Y.O.Y., it’s worth noting that in Q3 2018 Suzuki took fifth place and now they have been bumped down to sixth. We’re curious to see if they can climb back to fifth place in Q1 2019.

Stay tuned for that report coming this April and let us know how your dealership compares with our findings in the comments below.