Today on CBT News, we’re pleased to welcome the new Chief Revenue Officer of LotLinx, Bill Reidy, to the show. In this segment, Reidy discusses his background in automotive, his new role at LotLinx, the challenges and successes of 2020, and what’s in store for the auto industry moving forward.
While Reidy was not necessarily looking for a change in employment, he became acquainted with tech powerhouse LotLinx, and couldn’t pass up the opportunity. Drawing on his experience from building the vAuto team, Reidy recognized that LotLinx had the same potential to adapt to the changing market.
Looking back on a challenging 2020, Reidy says his admiration for the dealer community is sky high due to the way dealers have been able to adapt. When the pandemic first hit U.S. shores, everyone went into panic mode. Car dealers were no exception. However, dealers quickly pivoted and did what most smart business owners do; they reorganized. They did all the right things, including evaluating expenses and adhering to COVID guidelines.
Then unexpectedly, consumer demand for vehicles went up. Reidy acknowledges that dealers greatly benefited from the supply and demand circumstances, but they also made great strides to meet this demand.
He says, “The efficiencies we created against that supply and demand, not only kept dealerships running, but thriving in some cases. And what I’m seeing from the dealer community is there have been some lessons learned in how they can reorganize against efficiency.”
Technological innovations, especially in digital retailing, played a huge role in this. Dealers have also made great strides in marketing these new virtual offerings and logistics services, like pickup and delivery. Reidy is also confident that these advancements will continue, and tech companies like LotLinx will be at the forefront.
Reidy brings over 25 years of sales leadership and executive management experience to his role as CRO of LotLinx. Prior to joining the innovative technology and marketing company, Reidy held positions with other big auto industry players like KPA, Netsertive, DealerMatch, and of course vAuto.
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