Data-Driven Business Intelligence Boosts Profitability - Tire Review Magazine

Data-Driven Business Intelligence Boosts Profitability

Centered on a business-building theme, Tire Review's new data section, Rolling with the Numbers, will provide business intelligence in key shop operations areas to help boost tire dealer profitability.

The power of data drives decisions that fuel growth and boost profitability. Data also empowers business leaders and marketers to create business processes that enhance productivity, predict consumer behavior, spot market trends and formulate strategies based on facts and statistics.

In our world, insights into various market dynamics can help fine-tune tire and parts inventories, tweak operations to position your dealership for increased market share, provide innovative solutions for customers and to deliver first-class service, and safeguard and grow your business for the long term.

With that said, we’ve created a new special section that will run from July through December where we’ll share market data based on research conducted with our independent tire dealer audience.

Centered on a business-building theme, this special research package will provide business intelligence in key shop operations areas to help boost tire dealer profitability.

This month, we’re presenting data in the area of productivity/shop operations in our Rolling with the Numbers data series. You can find it here. This month includes a look at average daily car count, number of bays, technician certifications, average number of tire brands carried and more. Next month, we’ll take a look at leadership/creating a positive work environment, shop management/supplier relationships and employee recruitment/retention.

Profitability-related topics in upcoming issues will include:

  • Customer service
  • Sustainability
  • Technology in the shop
  • Shop culture/teamwork
  • Sales and marketing
  • Equipment investments
  • Boosting cashflow/making more money on service

By sharing these insights with you, our goal is to help you boost productivity and profitability; hone your business operations strategies; identify market trends; increase tire replacement and service revenue; leverage best practices; develop a cohesive and dynamic team culture, and deliver the highest-quality repairs.

Time devoted to prioritizing and perfecting these business building blocks that require daily attention is time well spent.

What strategic investments have you made at your dealership that have paid the biggest dividends? What new processes have you implemented to boost productivity and improve shop workflow? Email me with your thoughts. Our team would love to hear from you.

You May Also Like

Forging a Path Forward

The skills we learned from being distanced because of the pandemic will stay with us, but think of it this way: As the world opens up, what opportunities will it offer you?

Forging a Path Ahead

In the last two months, I’ve been privileged to spend quality time with those of you who make this industry tick. Whether it has been talking about industry best practices with our Top Shop Winners and Finalists in Nashville or mingling amid the backdrop of the Colorado Rockies with dealers, distributors and Falken Tire leadership at Falken’s Dealer Meeting, I’ve learned a few things. 

How the State of Our Industry Impacts Your Day to Day

In August, Tire Review is publishing special “State of the Industry” articles comprised of the thought-leadership editorial that takes a look at various trends shaping the global tire industry through the eyes of subject matter experts and industry influencers.

State of the Industry service advisor customer
Vehicle Subscription Models Put a Twist on Consumer Choice

With a new vehicle representing consumers’ second-largest purchase, their expectation of inherent value, especially on big ticket items, raises the question of whether this move by automakers will be seen as a means to over-deliver on customer expectations, or a way to fuel their revenue pipelines to offset slumping vehicle sales numbers.

Idled Driving Shouldn’t Mean Stalled Vehicle Service

There is plenty of unperformed maintenance out there for the taking – the result of undetected or neglected automotive care.

Winning the Customer Care Game

When you put customer care at the forefront of your high-octane offense, it can have a measurable impact on your bottom line.


Other Posts

Study Finds Tire Microplastics Prevalent in Urban Stormwater

In stormwater runoff during rain, 19 out of every 20 microplastics collected were tire wear particles.

Tire Sales: In-Store, Online, or Both?

The majority of tire dealers tell us their highest profit percentage comes from online tire sales, so why do many dealers stick to brick and mortar?

Tire sales in store vs. online
How Sales and Service Affect Tire Dealer Profit Margins

Tire dealers tell us their highest gross profit margins come from retail service work.

RwtN25 Profit margins
Tire Dealers Have Positive Sales Outlook for the Rest of the Year

Many tire dealers had a great 2022 and have high expectations for the rest of 2023.