Bill Springer is a seasoned automotive professional with over 35 years of experience in the industry. He started his career in commercial lending after college, but eventually found his way to Krex, a family-owned automotive business. Despite receiving his MBA, Bill Springer fell in love with the business and has been with Krex ever since. Over the years, the company has undergone significant changes and today operates in a very different space than when he first started.
Building Trust in the Car Dealership Industry
In this Parts Girl podcast episode, Kaylee Felio talks to Bill Springer, the CEO and President of DriveSure. They discussed the importance of trust in the car dealership industry, lessons learned from the automotive business, maintaining work-life balance, and more. Bill Springer shares his insights on utilizing strategic solutions to improve retention rates, especially in the tire business, and building long-term trust with dealerships.
Importance of Relationships in Business
A key lesson from the conversation is the role trust plays in the car dealership industry. Bill highlights the vital importance of relationships in business. He shares that cultivating trust can lead to positive word-of-mouth, helping expand a dealership’s customer base.
Retention Strategies and Their Impact
Bill Springer sheds light on how strategic solutions impact a dealership’s financial health, especially when it comes to 12-month retention rates. He cites the tire business, a significant cause of customer defection, suggesting dealerships need to focus on retaining tire customers and executing this strategy well to succeed in customer retention overall.
The Value of Humility
To wrap up the conversation, Bill underscores the merit of humility. He points out that maintaining a humble approach allows you to absorb more from others and keeps you receptive to fresh ideas and viewpoints. All in all, the episode offers valuable takeaways about building trust, utilizing strategic solutions, and nurturing humility in the automotive business.
- Dealerships are the best source of car tires.
- Building trust is crucial in the car dealership
- Effective communication among leadership teams are essential.
“Car dealerships are really the best source for new tires.” –Bill Springer