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The economy and particularly the automotive industry are almost at a standstill at the moment as COVID-19 holds the country to ransom. However, despite the difficult times, there are still some things that need to be covered off. Here are five things that can help business strategy and performance right now.
- Check Your Retail Pricing
Although the car showrooms are physically closed and much of the UK workforce is furloughed, people are spending more time at home and for many looking for a car is still popular. Whilst vehicle searches may have declined a little, in general, the retail consumer is looking for the feel-good factor and buying another car whether new or used is a post lockdown aspiration. There is no need to drop pricing right now, and indeed to date, the Cazana Weekly Price Watch insight highlights that retail pricing has actually increased slightly since lockdown was announced almost a month ago. But making sure the business is aware and being competitive is a must.
- What Does Your Virtual Showroom Look Like?
With many eyes “online” at the moment, ensuring your website is up to date is essential. Making sure that the latest offers are clearly visible and still showing as valid is important for the impression given to the retail consumer. Catching up with news features and OEM or finance offers displayed on site will help engage with your audience and give them confidence that whilst the doors are closed the sales department is not.
- Social Media Messaging
Relying on your website alone is not enough and here lies an opportunity. Social media is awash with COVID-19 news and some businesses have stepped down spend and coverage to cut costs short term. The reality is that keeping the line of communication open is critical. As the end of lockdown draws nearer every day, making sure your social messaging and post lockdown plans are at the forefront of current and new customers mind will help speed sales engagement when the time comes
- Plan for the Post Lockdown Operational Challenges
Whilst it may seem a long way away, the end of lockdown will come quicker than expected. With every day that passes the operational challenges of reopening increase. Whilst planning think staff safety, current stock serviceability and think of the safety of customers going forward. Plan now to be ready for the resumption of sales activity.
- Staff Training and Development
A lot of operational staff are currently furloughed and that is both uncomfortable and, in some cases, demotivational. However, whilst staff can’t work to make money for the business as part of the rules of furlough, they are allowed to train and engage in personal development. Wherever possible seek to keep them involved in personal growth and support them as best as possible. Also, investigate ways to train them from a distance whilst they are waiting to come back to the business.
Rupert Pontin is director of Insight Cazana