Today’s dealers are faced with perplexing operational challenges, yet technology remains the one factor that has managed to bridge the “perfect storm” of artificial intelligence (AI), customer data platforms (CDPs), and Google Analytics fourth generation (GA4) together.
During the recent Digital Dealer conference in Las Vegas, CBT News anchor Jim Fitzpatrick spoke with Kevin Frye, Marketing Director at the Jeff Wyler Auto Family. Frye dives into his framework for laying a strong foundation to use technology effectively.
Key Takeaways:
1. Frye outlines the ideal plan dealers should implement to thrive in the upcoming year. The first step is to obtain a Consumer Data Platform (CDP). CDP software creates a single, cohesive view of each customer by gathering and combining first-party customer data from various sources. Frye then advises dealers to confirm that they are merging their data into a single lane, and that they have processes in place for cleaning that data.
2. Frye states that the Jeff Wyler family has been studying electric vehicles (EVs) on a daily basis for a year, but difficulties stem from the large number of unknowns and the age of the inventory. Therefore, dealers must roll out their effective social media marketing strategies. For example, dealers can now analyze their data via GA4 solely for their performance numbers.
3. Frye says that although 2024 might not be as profitable as dealers would like, due to war and global inflation, the industry could see some very positive developments with the continued rise of digital tools and mobility solutions.
“I think this is the most exciting time in our industry since the creation of the automotive website.” – Kevin Frye
