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Tuesday
Dec012015

Its December...

Rolling into December with an eye towards Christmas and an eye in the rearview mirror with the myriads of events that have transpired over the past 11 months of 2015.

In no particular order thoughts going through our mind...

A Better World:

It perhaps naively correct to subscribe to a better world theory, somedays it is, others no so much. What did you do to make it a better world?

Economy___Planet:

We constantly read from experts, pundits, the world economy is not growing fast enough, the challenge with this region, the problem with another. It will keep on going, and going, next year too.

Economy___Canada:

The Canadian economy has taken a bruise in 2015, and will perhaps continue to get some blows in 2016. We seem to linger on some antiquated business models and beliefs. Real Estate will provide more fodder for the analysts, and experts.

Jobs:

Be assured that most folks will do anything and everything to hang on to their current positions. Fascinating that with a ton of technology to facilitate seeking jobs, branding oneself, connecting, and so on. Many folks hang on for dear life.

Credit:

We have mentioned on numerous occasions that CMS (Citizen Main Street) has been carrying the Canadian economy for the past several years. Easy and inexpensive credit has been a major factor. Could it keep on forever? NO

Technology:

We are fortunate, we are fully immersed in technology. We are unfortunate, since we are fully immersed in technology.

Humans:

We are overlooking the fact/reality that we are humans.

Auto Sales___Canada:

What can you say, spectacular, record breaking, we could keep on going. Will it keep on going in 2016?

Transparency:

Everyone clamors for, or mentions transparency. Be your own editor/judge.

Gratitude:

Always take a moment to appreciate what you have, your accomplishments, the "brain fades" too. As well as being thankful.

From 6 years ago

Do all the good you can. By all the means you can. In all the ways you can. In all the places you can. At all the times you can. To all the people you can. As long as ever you can. 


Thursday
Nov262015

Refresh

Ever wonder how you refresh yourself while functioning in a totally wired world, and using a myriad of technology to actually do your work.

In case you did not know, The Colonel "Goes Fishing" on a beach in the Caribbean primarily to refresh, practice digital detox for a few days, and spend time focusing on the simpler things that surround us all.

Agreed...everyone has different perspectives and expectations of what their vacation should be, from filled with activities, to still being connected to a myriad of technology. Observing the diversity of how folks "enjoy" their vacation is to catch a glimpse into the human psyche.

If you are in the auto business at the retail level, observing the human psyche on vacation is an interesting pass time that also provides insight as to how the same humans will be in a showroom, or on their digital due diligence to purchase a vehicle.

Why you need to refresh?

We are so immersed in our routines that we lose sight of the depth of our immersion, or we know but don't want to know.

If you go on business trips its a change of scenery, while you bring all your "tools" to remain connected, immersed, available, and what ever else you want to call it.

As we are "connected" and empowered by technology, we are also disconnected with the humans that surround us. We are connected with them, while being disconnected on the human side.

When you refresh make an effort to connect on the human side, to be empathetic.

 

 

Wednesday
Nov182015

Success Now What?

A fascinating, thought provoking read...

 

Thursday
Sep242015

Guilds and Social Media

You surely remember reading about the myriad of "guilds" that existed a few centuries ago?

If you look around you, you will uncover traces of medieval guilds in the age of social media. Agreed...some vestiges of guilds that disseminate meaningful knowledge remain a positive influence in 2015.

Lets take a look at a 2015 guild, and yes you can fill in your own names.

The guild of XYZ is comprised of abc members who are all engaged in the activity of making/selling/servicing/advising on the particular widget. The guild has its own rules and regulations to ensure that the members don't step out of line, and offer value to customers.

The guild has its own publication to communicate with its members, and control the message.

Anyone who favorably serves or accomodates the guild is drawn into the inner circle.

Looking around you, you will quickly notice medieval guilds in 2015.

The reality...with social media each customer is becoming a "guild of 1" empowered and enabled.

The other reality...the established guilds are inexorably becoming detached from the "customer".

Look at enterprises that are not part of a guild, with activites that do not support guild like behavior. While treating the customer as a guild of 1.

What do you think?

 

 

Thursday
Sep172015

Evolution of House Prices in Canada

An informative presentation from the Bank of Canada...

Nothing to do with cars...or perhaps it does...what do you think?

 

 

 

Thursday
Sep032015

How The Economic Machine Works

Watch this video its time well spent...

 

Wednesday
Aug262015

Customer Satisfaction with Service

Canadian auto service providers have significant room to improve in maximizing customer experience and meeting car owner service level expectations,according to J.D. Power’s 2015 Canadian Customer Service Index Long-Term (CSI-LT) Study, released today (see press release with full details embedded below).

 

According to the study, which measures the service experience, satisfaction and intended loyalty among owners of 4-12 year old vehicles, only 15% of service occasions in the past year resulted in a perfect 10/10 rating, while two out of three (67%) were rated at 8/10 or below.

 

Other key findings from the study include:

·         Lexus Dealerships rank highest in customer satisfaction, setting the bar for excellence amongst dealerships and aftermarket shops

·         Aftermarket shops top auto dealerships for overall customer satisfaction (749 vs 731 on a scale of 1,000, respectively)

·         Among vehicle owners who ranked their most recent service experience at 10/10, 93% said they “definitely will” return to the service facility for work, compared to 40% of those who ranked their most recent service 8/10

Canadian auto service providers have significant room to improve in maximizing customer experience and meeting car owner service level expectations,according to J.D. Power’s 2015 Canadian Customer Service Index Long-Term (CSI-LT) Study, released today (see press release with full details embedded below).

 

According to the study, which measures the service experience, satisfaction and intended loyalty among owners of 4-12 year old vehicles, only 15% of service occasions in the past year resulted in a perfect 10/10 rating, while two out of three (67%) were rated at 8/10 or below.

 

Other key findings from the study include:

·         Lexus Dealerships rank highest in customer satisfaction, setting the bar for excellence amongst dealerships and aftermarket shops

·         Aftermarket shops top auto dealerships for overall customer satisfaction (749 vs 731 on a scale of 1,000, respectively)

·         Among vehicle owners who ranked their most recent service experience at 10/10, 93% said they “definitely will” return to the service facility for work, compared to 40% of those who ranked their most recent service 8/10

 

J.D. Power Reports:

Delighting Customers Unlocks Significant Revenue Potential for Vehicle Service Providers in Canada

 

Lexus Dealerships Rank Highest in Customer Satisfaction among Owners of 4- to 12-Year-Old Vehicles

 

TORONTO: 26 August 2015 — Delighting customers by providing an outstanding  service experience generates high levels of retention and unlocks significant revenue potential for vehicle service providers in Canada, according to the J.D. Power 2015 Canadian Customer Service Index Long-Term (CSI-LT) StudySM released today.

 

The study, which measures the service experience, satisfaction and intended loyalty among owners of  vehicles that are 4 to 12 years old, analyzes the customer experience from both warranty and non-warranty service occasions. Overall satisfaction is based on the combined index scores of five factors that comprise the overall service experience (in order of importance): service initiation (24 per cent); service quality (23 per cent); service advisor (20 per cent); service facility (17 per cent); and vehicle pick-up (16 per cent). Scores for each factor are reflected in an index based on a 1,000-point scale.

 

Overall customer satisfaction with automotive dealerships is 731, and satisfaction with aftermarket shops is 749.

 

Among vehicle owners who are “delighted” with their most recent service experience (with an overall satisfaction rating of 10 on a 10-point scale), 93 per cent say they “definitely will” return to the service facility for work they are willing to pay for, compared with only 61 per cent among those who rate their last service visit 8. 

 

“This underscores the importance for Canadian vehicle service facilities to focus on providing a consistently outstanding customer experience,” said J.D. Ney, manager of the Canadian automotive practice at J.D. Power. “There is a significant opportunity to improve the service experience, as just 15 per cent of all service occasions in the past 12 months resulted in an overall customer satisfaction rating of 10, compared with 67 per cent of service occasions rated 8 or below, among whom only 40 per cent say they ‘definitely will’ return.”

 

Ney noted that to maximize satisfaction, service facilities should focus on the key performance indicators (KPIs) that generate the most positive impact on the customer experience. The top three performance measures and their impact on satisfaction scores include being completely focused on the customer’s needs (+63 points); providing an appointment on the day desired (+56); and providing helpful advice (+53). These KPIs have long been a focus for Canadian service facilities, as their average completion rate of at least 80 per cent is already very high. However, among the top 10 KPIs measured in the study, there are three performance processes that are completed less than 80 per cent of the time, creating a significant opportunity for service facilities to improve customer satisfaction. These KPIs include having the customer speak to an advisor immediately on arrival (+43 points; 44 per cent completion); keeping customers informed on the status of their vehicle (+36; 75 per cent); and contacting customers after the service occasion (+29; 38 per cent).

 

Nearly half (46 per cent) of owners of older vehicles exclusively selected an aftermarket facility for their service needs in the past year; a further 33 per cent used only an original equipment manufacturer (OEM) dealer facility; and the remaining 21 per cent took their vehicle to both an aftermarket and OEM dealer facility. That remaining 21 per cent of owners represents a key battleground for vehicle service market share and a significant revenue potential for service providers in Canada, On average, owners of older vehicles who visit a service facility at least once—either a dealership or other service facility—make 1.2 visits to a dealer and 1.8 visits to a non-dealer per year. The average amount these customers spend per service visit is $232. At an average of three visits per year, each customer represents nearly $700, making the 21 per cent battleground customers worth more than $1.5 billion in annual potential revenue for service providers.

 

KEY FINDINGS

 

•      Customer satisfaction and the amount spent on a service visit increase when a service advisor properly educates customers on additional work that may be required. In fact, study results show that 46 per cent of owners of 4- to 12-year-old vehicles indicate their service advisor recommended additional work. Of this group, nearly half authorized the work to be completed, spending an average of $527 on the visit, compared with an average of $225 among those who were not advised of additional work.

         Dealers are more likely than aftermarket providers to perform a multi-point inspection on vehicles (77 per cent vs. 70 per cent, respectively) and to have an advantage in knowing a customer’s service history (85 per cent vs. 76 per cent). Performing inspections more frequently and knowing a vehicle’s service history helps service facilities make more informed service recommendations, opening significant potential revenue opportunities.

 

Study Rankings

 

Lexus Dealerships rank highest in satisfying automotive service customers in Canada, with an overall satisfaction score of 809. NAPA AUTOPRO ranks second at 775, and Volkswagen Dealerships rank third at 772.

 

The 2015 Canadian Customer Service Index Long-Term (CSI-LT) Study is based on responses from more than 11,000 owners in Canada whose vehicle is between 4 and 12 years old. The study was fielded in March-April and May-June 2015.

 

Overall Customer Satisfaction Index Scores                             

(Based on a 1,000-point scale)                                           

J.D. Power.com Power Circle RatingsTM For Consumers

Lexus Dealerships          

809       

5

NAPA AUTOPRO            

775       

4

Volkswagen Dealerships

772                       

4

Fountain Tire                                   

760                       

4

Ford Quick Lane                             

757                       

4

Kia Dealerships                               

751                                       

3

Toyota Dealerships                       

744                                       

3

Industry Average       

741                                      

3

Jiffy Lube                                           

739                                       

3

Nissan Dealerships                        

737                                       

3

Ford/Lincoln Dealerships          

736                       

3

Great Canadian Oil Change

733                                       

3

GM Dealerships               

732                                       

3

Midas                                   

732                       

3

Mazda Dealerships                        

731                       

3

Subaru Dealerships

728                                       

3

Mr. Lube                                             

727                                       

3

Honda Dealerships                        

723                                       

3

Acura Dealerships                         

720                                       

3

Mitsubishi Dealerships                

719                                       

3

Chrysler Dealerships    

716                                       

3

BMW Dealerships          

712

2

Costco                                 

711                                       

2

Hyundai Dealerships                    

705                                       

2

Canadian Tire                                  

698                                       

2

Wal-Mart

681

2

*Independent Repair Shop

772

 

Note: Included in the study but not ranked due to small sample size are Active Green & Ross, Audi Dealership, Goodyear Auto Centre, Kal Tire, Meineke Car Care Centre, Mercedes-Benz Dealership, Ok Tire, Speedy, Suzuki Dealership and Volvo Dealership.  

*Independent Repair shop has sufficient sample, but cannot be ranked.                             

 

Power Circle Ratings Legend

5 – Among the best

4 – Better than most

3 – About average

2 – The rest

 

Wednesday
Jul292015

Unleashing Innovation

Excellent Healthcare for Canada...

Nothing to do with cars, but everything to do with all the folks that work in the auto industry in Canada.

Its a must read...

Unleashing Innovation by Strada

 

 

 

Tuesday
Jul282015

Flying

If you are of a certain age you surely remember when getting on a plane to fly "somewhere" was an elegant undertaking. Perhaps you even remember the "insurance kiosks" offering varied insurance plans in case a plane crashed.

At some point the elegance was totally suppressed from flying.

Lets take a look at this...

A few decades ago flying to various places in Canada was still elegant, tame, relaxed compared to today. Especially if your station in life and the company permitted you to fly executive or first class. While most companies had a designated travel agent to provide the tickets.

You could fly across Canada in executive or first class, arrive refreshed and ready to work. Yes...the over head bins were relatively empty.

There was a sense of civility on the planes, while being served reasonable food, drinks, libations.

If it sounds like ancient history it surely is...

At some point our own The Colonel concluded that dealing with airports, and flying was becoming increasingly inconvenient...the time saved is certainly what still motivates folks to fly...as well as the ability to cross wide stretches of water.

Since time is a most precious commodity...flying endures to impose on the folks that fly.

Have you noticed that buying a ticket is similar to a lottery, a guessing game, take a look and see what comes out sort of thing. Airlines have "dynamic pricing" down to an hourly science...never mind day, or month. Obvious that buying way ahead of when you will actually fly is the mantra.

What does it have to do with cars? Not much...but imagine for a moment if vehicles were sold in the same fashion as plane tickets. The service provided by dealers would be the same as airlines.

What do you think?

 

Thursday
Jul022015

F35 Ski Jump Launch

Fascinating way to take off...