Dealers & Experts Discuss Inventory Holding Cost Erosion

Balance
Whatever the differences among franchise, independent, and Buy Here-Pay Here dealerships, asset depreciation erodes margins for all. Dealers must manage two forms of depreciation – value erosion as assets age, which most every operator understands, and holding costs, which many do not. The source of...

Scarcity Marketing Gets Smarter

scarcity marketing
Automotive is getting smarter about applying a traditional approach to retail: scarcity marketing. Both dealers and customers stand to benefit. Retailers have relied on scarcity marketing for decades to attract customers, whether a dealership promotes a sale for a limited time or a clothing store...

What Garden Hoses & Cars Have in Common: Conversational Commerce

conversational commerce
Ever think you’d be competing with a garden hose? In a sense, you are...because the same people buy both products. And as IBM’s Bridget van Kranlingen has said, “The last best experience that anyone has anywhere becomes the minimum expectation for the experience they...

Why the Automotive Industry Needs Diversity

Diversity
Diversity continues to be a hot-button topic across many industries including automotive. You don’t have to look very far to find insights addressing this important issue, an example being a recently published blog post on the National Automobile Dealers Association website that discusses some of...

What It Costs Your Dealership to Miss Incoming Chats & Texts

dealership chat
Did you let almost $14,000 in gross profit slip away last month? Let’s assume your dealership offers web and mobile messaging options like text or chat. After all, messaging can generate additional leads and improve the consumer experience with convenience. But if you’re not answering...

How Dealerships Can Leverage Organic and Paid Content on Facebook and Instagram

Facebook
There is no slowing down for Facebook and Instagram. By 2019, Facebook, the world’s largest social network with 2.2 billion monthly active users, will account for 11.3 percent of all U.S. ad spending (compared to 10 percent for print). Instagram recently zoomed past the 800...

A Dealer’s Key to Success: Realizing Everyone is a Salesperson

customer service
The consumer buying experience has seen rapid changes in the past two decades. In years past, customers could only purchase items in a physical store. However, with the advent of online marketplaces like Amazon, consumers can buy goods at the drop of a hat....

Are You Getting the Message?: Connect With Consumers the Way They Want

contact @ once
In today’s mobile-driven society, consumers have an array of different channels at their fingertips to reach out to businesses and providers. Most people think of these common options: 1-800 number (if you’re desperate), email (if you want to wait) and live chat. While the...

Service Retention: How online culture is slowly killing your service drive – Total Customer Connect

Most Americans shop on Amazon or eBay and the negative impact on brick and mortar retail outlets is far-reaching. Customers have proven they want to shop and order goods and services online, and are leaving the traditional consultation style establishments behind. When we shop on...

Using CRM to Get a Raise

DealerSocket - CRM
Do you know anyone who would not say that they would like to make more money? I know I don’t! This does not surprise me, as I believe that money is a motivator for us all. Those who don’t admit it are lying about...
Tim Jacksonvideo

President of CADA Tim Jackson on Fuel Efficiency Standards, Warranty Reimbursement, and the Innovative...

There’s been a lot on the agenda for dealer associations to contend with so far this year. On today’s show, we take a look...
Bruce Tulganvideo

7 Common Leadership Challenges that Managers Face and How to Overcome Them – Bruce...

CBT welcomes back Bruce Tulgan, Founder and CEO of RainmakerThinking, popular author, and management consultant. On today's show, Bruce discusses what he calls 'the...
marketing budgetvideo

Evaluating Your Dealership’s Marketing Team and Advertising Spend (Part 2) – Glenn Pasch, CEO...

On today's show, we continue our conversation with Glenn Pasch, CEO of PCG Digital where they have recently done over 50 audits with dealers to...
partnership

“Partnership” is the New Automotive Industry Buzzword

When it comes to the future of the automotive industry, the word “partnership” is starting to enter the conversation. In the past, automakers...
F&I

Interview Tips When Hiring F&I Managers – What to Look (and Listen For)

Interviewing for any position at a dealership is a bit of a balancing act when assessing whether or not the person will be a...

Protecting Your Customers’ Personal Information

When was the last time you checked your safeguard procedures? On today's episode of F&I Today, Becky Chernek talks about protecting your customers' personal...

Stop, Look, and Listen

  On today's episode of Straight Talk, David Lewis talks about how you can close more sales and find success by stopping, looking, and listening.

The Reward of Consistent Practice

Nobody gets better on game day. On today's Saturday Morning Sales Meeting, Dave discusses the rewards that come with consistent practice and preparation.

The Power of the First Impression

On this week's episode of the Weekly Tune-Up, Almog Veig of David Lewis and Associates talks about the meet and greet in the service...