The auto industry has seen some levels of success in the past 90 days, but there is some apprehension about how the industry will continue to perform moving forward. Anxiety among dealer leaders, managers, and salespeople is still high and uncertainty lingers. Here to discuss how dealers can support and motivate their staff with a strong dealership culture during these trying times is Walter Bond, motivational speaker, and Fortune 200 business coach. “If you’re doing well right now, it’s because you have a good team and you’ve built a great culture. if you’re struggling right now, the same is true.…
HEADLINES
Why minorities often don’t consider careers in the automotive industry
Welcome back to Diversity in Automotive brought to you by TrueCar and CarNow. One of the critical concerns that dealers grapple with on a consistent basis is employee turnover. Automotive recruiting efforts are strong, however, employees who enter the car business still end up leaving. Why? In today's segment, host Cory Mosley is joined by an esteemed panel of automotive retail professionals. This panel includes Elgie Bright, automotive department chair for Northwood University, Brandon K. Hardison, owner of Champion Strategies, and Kerri Wise, vice president of communications for TrueCar. The panel first tackles why members of the minority community may…
How the new Facebook automotive inventory ad options affect your dealership
When advertising on social media platforms like Facebook, automotive marketers must their strategies often, as these sites constantly evolve. In fact, last year Facebook launched its on-facebook automotive inventory ads which allow manufacturers and dealers to upload their entire catalog of vehicle inventory with relevant details. Recently, Facebook has expanded its automotive marketing features to drive inventory ads to a mobile-optimized shopping experience. So what does this mean for your dealership? To find out, we spoke to Facebook’s Head of Automotive Retail, Bob Lanham. Did you enjoy this interview with Facebook's Bob Lanham? Please share your thoughts, comments, or questions…
An untold truth: are price reductions good for your dealership?
Since the early days of the industry, price reductions (markdowns) have been “the” tool used to move inventory as it ages, but now post-pandemic, dealers should be more serious than ever about holding margin on their in-stock vehicles. Not only because inventory is scarce, but it is vital to take advantage of new technology that avoids these negative impacts to your bottom line. Conventional wisdom has been that if a car is not moving, reducing price is the way to put a consumer on a car. However, markdowns are also a clear sign that dealers are not taking the time…
Report shows that 86% of brands aren’t benefiting by tracking CX
According to InMoment, top brands are wasting billions on customer experience programs that are failing. In 2019, data strategy and insights leaders at Forrester Research determined that 86% of brands haven’t seen return on their investment into CX. Nearly all spending for customer experience has been in monitoring and tracking. Key performance indicators such as survey scores and touch points at important intervals in a customer’s shopping journey have been the focus. And in Forrester Research’s estimation in the 2020 US Customer Experience index report, no businesses achieved the rank of ‘excellent’ in 2020 when compared to their benchmark. All…
Why minorities often don’t consider careers in the automotive industry
Welcome back to Diversity in Automotive brought to you by TrueCar and CarNow. One of the critical concerns that dealers grapple with on a consistent basis is employee turnover. Automotive recruiting efforts are strong, however, employees who enter the car business still end up leaving. Why? In today's segment, host Cory Mosley is joined by an esteemed panel of automotive retail professionals. This panel includes Elgie Bright, automotive department chair for Northwood University, Brandon K. Hardison, owner of Champion Strategies, and Kerri Wise, vice president of communications for TrueCar. The panel first tackles why members of the minority community may…
Electric vehicles make big waves in this week’s automotive tech headlines
Welcome to another edition of The Friday 5 with Steve Greenfield, Founder and CEO of Automotive Ventures, an auto technology advisory firm that helps entrepreneurs raise money and maximize the value of their companies. In this episode, Greenfield takes a look at Carvana's performance, the latest news out of California, and dramatic events from the makers of electric vehicles. Carvana There’s no doubt that COVID-19 has accelerated more consumers to online car buying, and, in parallel, investors’ interest in technologies that enable consumers to either buy or service their vehicles online. This week, we received a couple of interesting signals…
What the auto retail industry has gotten right and wrong about...
Welcome back to Diversity in Automotive brought to you by TrueCar and CarNow. When we talk about the issue of diversity, a lot of times, based on the marketplace, people tend to think about diversity as it relates to color. However, gender and sexual orientation often get ignored. In today's segment, host Cory Mosley is joined by an esteemed panel of automotive retail professionals who are part of the LGBTQ community. This panel includes Danny Zaslavsky, the dealer of Country Hill Motors, Richard Herod the dealer of White Bear Mitsubishi, Hollyanne Peck the Director of Marketing at CarNow, and Tim…
