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How dealers can take control of their inventory management — Rick Dearden | Lotlinx

Rick Dearden is a regional director at Lotlinx, a technology platform that provides auto dealers and manufacturers with enhanced operational control over their retail business. CBT News anchor Jim Fitzpatrick got the chance to speak with Dearden at the 2023 Digital Dealer conference to learn more about the company and what it can do for dealers.

Key takeaways:

1. While many retailers use a variety of metrics to measure the return on their marketing efforts, including clicks, impressions, and views, Lotlinx goes a step further. First and foremost, Lotlinx is a data company, and its platform shows dealers exactly how much they are spending on each vehicle. Through machine learning, Lotlinx can adjust to consumer preferences and assist dealers in advertising their cars in the most effective ways.

2. When it comes to modern retailing, Dearden shared, “Not every customer comes through the front doors is the same … you can’t treat every click or lead as the same … you have to really narrow down where that consumer is in the buying process.”

3. Looking ahead to 2024, car dealers must prioritize precision. No longer can retailers buy just any car and hope it sells. The data and actionable insights that Lotlinx provides help dealers navigate the ebbs and flows of the industry.

"Don't force the customers to shop how you want to sell. Be where the customers are." — Rick Dearden

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Anna Delvillar
Anna Delvillar
Anna is the editorial and programming coordinator at CBT News. She graduated with a B.A. in English Composition from Georgia State University. She is an enthusiastic and skilled media professional with high-caliber communication skills, and has five years of experience performing multimedia writing, editing, and publishing for automotive, tech, and small business media.

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