In the world of big business and acquisitions, there are many times where the value placed on the customer database is more than the rest of the business combined. Larry Bruce over at PSXDigital reminds me of this all the time.
Having worked with a lot of dealers over the last 20 years, I can say from experience that there are very few powersports/RV/Marine dealers who have recognized this fact. We fail to collect customer info, when we have it we don’t update it, and we don’t take the opportunity to create customer segments.
But that’s not today’s rant. What concerns me more right now is the # of dealers who are giving their OEMs access to their DMS. I see what the OEMs are telling dealers they are doing with that data, but it doesn’t align with the agreements that the DMS providers are asking dealers to approve.
Once you click that button, you are allowing
– One OEM to market to the rest of your customers, regardless of brand affinity
– Letting those OEMs see what you stock for other brands (unit and parts)
– Letting them see what you make with other vendors
– Full access to the P&L
Go back and read that agreement. Don’t give away the keys to your kingdom.
#OwnYourAssets #marine #powersports #rv #customerlist #database