Coke Zero may fail, the Coca Cola Company will not.
Most startups go into business thinking they’re defined by one single product. And usually, that turns out disastrous. The reason? Most products fail, and all eventually will.
And when products fail, “one-trick-pony” businesses will shut down. The difference between your business and it’s product can be defined by your relationships, your understanding of your customers needs, and knowing the position and direction you, as a business should be headed.
So how does this relate to your dealership?
Forget “product” as a vehicle – vehicles clearly have succeeded and failed many times over. For this discussion, you the reader, most likely cannot control product (vehicle) development directly. Let’s look at this “product” as your marketing, your management, and your connectivity to your customer.
My favorite story I tell to new sales staff centers around a conversation I had with one of ecarlist’s first clients. A recap of the conversation:
I showed the dealership owner our “product”, I explained the benefits of the solution, etc…
Dealer: “We sold 60 cars last month online, obviously we’re doing fine and do not need your product.”
Me: “Quick question, were you successful selling cars 5 years ago?”
Dealer: “Yes”
Me: “That’s great, however, did you even market online 5 years ago?”
Dealer: “Not at all.”
Me: “Interesting, your business has changed, now are you ready to really look how you can improve upon your success?
I guess that got him, they became an ecarlist client that day and their dealership remains one of the most successful online retailers today regardless of “product” shifts (in this case I do mean vehicles).
New technologies and customer behaviors will continue to force product change – ecarlist will continue to offer products that strengthen our business. We cannot define our company by technology and offerings we offered last year. You, the dealer, must decide how your “product” will change.
I have always preached that ecarlist as a company cannot solve everything – you must remain a solid business operator. Your “product” (I do now mean marketing, management, etc..) we must agree has changed. To survive as a business, you must adapt. You must align yourself with your customer. Your success as a business is understanding that adaptation can coexist with innovation.
How has your “product” changed over the last few years – are you ready for the “product” of tomorrow?
