spot_img
spot_img

How Market Scan’s Jenn Reid is helping car dealers embrace modern retailing

Many of us go to college with a plan in mind for most things, except how we are going to pay off our student loans. For Jenn Reid, student loans were not an option so she sold vehicles to pay for her education before eventually moving to the financial side of the automotive industry. 

Since then Reid has helped build a finance company for Mazda, managed partnerships at Equifax, and joins us today as Vice President of Strategic Partnerships at Market Scan Information Systems. We will discuss how she’s helping dealerships today with Market Scan’s innovative technology as well as being named a 2021 Rising Star from Automotive News.

As an industry, we’ve kind of lived in a world of “good enough” says Reid. What happened last year is customers weren’t coming through the door. They were coming through email and phone calls. COVID accelerated what was already happening for a very long time, says Reid. She says it’s been an important mission over the past year to get consumers the information they need to be tailored to them.

Related: 8 unique ways to provide a better customer experience than your competition

One of the biggest CSI issues in the dealership is around finance. 83% of consumers expect to get a price they can transact in the first interaction. It takes a partnership between everyone, to get the customer in the vehicle that they need. Reid says being transparent, builds trust and gives you what you need to be successful in doing the transaction.

transaction

A car can show up and paperwork can get signed but is it a seamless transaction Reid asks? Reid believes digital retailing is going to be a continued evolution. She thinks that a lot of consumers, herself included that still want to test drive the vehicle. Reid believes in modern retailing. You need to have processes in place to allow consumers to buy the way they want to purchase.

Market Scan is a company that focuses on bringing science, technology, and data together to deliver a scientifically perfect solution for any automotive transaction. One of their core principles is they let the dealers dictate the terms they’re willing to transact. Reid says the missing ingredient is bringing together the dealer and consumer to a place they’re willing to make a transaction. As the industry continues to evolve, it’s going to take time but it’s going to be in a way of how things should be done, says Reid.


Did you enjoy this interview with Jenn Reid? Please share your thoughts, comments, or questions regarding this topic by submitting a letter to the editor here, or connect with us at newsroom@cbtnews.com.

Be sure to follow us on Facebook and Twitter to stay up to date or catch-up on all of our podcasts on demand.

While you’re here, don’t forget to subscribe to our email newsletter for all the latest auto industry news from CBT News.

dealers

spot_img
CBT News
CBT News
For over 10 years, CBT News has been informing and helping automotive retail professionals grow their businesses and thrive in their careers through an awarding-winning, on-demand streaming platform. With exclusive interviews featuring the biggest names in the industry, daily newscasts, up-to-date market data, and exclusive articles covering the latest trends, CBT News is your #1 source for auto industry news and content.

Related Articles

spot_img

Latest Articles

From our Publishing Partners