Innovation is key to driving seamless car buying experiences for customers. Recently, at the 2023 NADA Show, CBT News anchor, Jim Fitzpatrick spoke with Aaron Bickart, Executive Vice President and General Manager of OfferLogix, to hear his expert opinion on economic headwinds, advertising trends in automotive finance, and digital retailing.
Key takeaways:
1. Providing transparency and penny-perfect payments, are essential to automotive financing this year. As inventory slowly returns and interest rates creep up, OfferLogix sees OEMs start to bring back incentives and discounts.
2. Bickart believes pent-up demand, returning inventory, and leasing will drive growth in automotive retailing in 2023.
3. Bickart predicts that leasing business will come back in a big way before the year is up, especially as monthly payments reach record highs.
4. Auto retailers must explore personalization and storytelling using Customer Data Platforms (CDPs) and (Customer Experience Management platforms (CXMs).
5. OfferLogix is now powering Epsilon‘s real-time retail solution, CarNow‘s recently launched real-time design solution, and Lithia Motors‘ internal marketing platform.
“At the end of the day, dealers are such great entrepreneurs, and they’re going to grind it out—figure it out, and they’re going to take market share back.” — aaron bickart
Notable background:
— Over the last 20 years, OfferLogix leadership has founded some of the most successful marketing and training companies in the industry and has worked with 75% of the top 100 dealers and 18 manufacturers in the U.S. and globally.
Click here for more 2023 NADA Show coverage on CBT News.
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