Today on CBTNews.com – Wednesday, June 12th, 2019:
Avoid These Digital Retailing Mishaps to Improve Your Dealership’s Customer Experience – Pete MacInnis, eLend Solutions
Digital retailing can be extremely helpful to dealerships who are looking to improve their customer experience, but some of these payment tools may be causing more harm to your dealership than good. These tools are unable to take into account the customer’s credit profile, specific vehicle, or any of the dealership’s lender programs; thus establishing an unrealistic payment expectation for the customer. Watch Now
Perks and Policies that Drive Retention
Cox Automotive’s Dealership Staffing study pointed out some worrying hiring trends in the auto industry. It found a 40% overall dealership staff turnover rate, with sales being the largest artery bleeding out: that sector had a whopping 67% turnover rate. Adding color to those already gloomy figures is the fact that women have a 9 in 10 turnover rate. Millennial hires are also quick to head for the door: according to the research, 60% of new hires fall into this age group, and 50% of those onboarded leave annually. Read More
Do You Have a Cybersecurity Plan at Your Dealership?
Much the same way you build walls and barriers to protect your physical inventory, you should also be concerned about protecting your network and digital information. While losing some wheels, or a vehicle can be costly, cybersecurity breaches can have more dire consequences. A cybersecurity breach can cause the loss of customers and revenue, tarnish your reputation or brand, and expose you to expensive lawsuits and litigation. Fines, fees and penalties also loom over the head of organizations that do not adhere to baseline levels of cybersecurity. With all of that in mind, here is a high level look at how to prevent cyber-attacks, and what to do if you are hit by one. Read More