DealerRefresh wishes you, all of our readers and community members a
Happy New Year.
To an Amazing 2016!!
Do you have any sales reps that are actively ‘working’ their personal Facebook account?
Actively Working their FB account would mean they mention something about their work at least once a week. IMO, these are FB All Stars. Into their news feed, they intelligently mix in pics of deliveries, pics of scarce units (i.e. low mile trade-in), etc.
I see an new opportunity here, but in my travels, Facebook All Stars are a rare breed.
AutoTrader’s Trade-in Market Place (TIM) is being repacked, and they’re calling it KBB Instant Cash Offer. Who knew?
“The Cox Automotive Media Group told reporters in late October that TIM was being converted into KBB Instant Cash Offer during the fourth quarter, bringing an entirely new experience for consumers and toolset for dealers along with the new name.”
According to this article, “Trade-In Market Place” is no more (at least the name). Moving forward, TIM is KBB Instant Cash Offer. The above statement points out “an entirely new experience for consumers and toolset for dealers” but after reading this article, I’m guessing they’re throwing in a bit of fluff to try and re-capture
And here I thought ATC was considering a double dip with the Buying Centers. Offering one dealer TIM and a neighboring dealer, in the same “exclusive region”, the KBB branded buying center. Dealers that paid up the BIG BUCKS to be a TIM Buying Center were also granted their exclusive region. No other dealer within the determined region could purchase the Market Center package. BUT… that may have not stopped a rep from selling a KBB Instant Cash Offer package to a dealer, within the same region. After all, it is an entirely new/different “experience” 😉
Don’t be fooled by my tone. I’ve been a fan of Trade-In Market Place (not including the Buying Center) since it was introduced. When implemented correctly and injected into the showroom process, utilizing the service with the customer, you can achieve some stellar results. However, it has no business being on your dealership website (often sold that way) as an online trade-in or conversion tool. It’s NOT a good online experience.
Anyone have some feedback to offer up?
Has anyone switched over from TIM to KBB ICO, and what new experience and tools are you seeing?
If you’re active over in the Refresh forums, you know every so often we have a member that will post a new discussion in reference to pay plans. I feel for these guys and gals, having to figure out their “worth” and put together pay plans for positions that are new to their dealership(s).
Just the other day we had one of our members ask for help in coming up with a way to implement a bonus structure to their pay as a Digital Marketing Director. In addition, about a month a half ago there was also another question regarding compensation for a BDC Director for an auto group.
What I propose is a fresh way to incentivize these roles that doesn’t require the ridiculous tracking of metrics that may or may not directly relate to their performance. These two positions are some of the most valuable employees in your organization today so getting them right is really important. These plans inspire the right decision making, focusing each role into thinking like a true department head.
Go ahead; admit it … you once dreamed of becoming a Jedi Knight! Even if you haven’t actually dreamed of being a Jedi, I’m sure you’ve played like a Jedi at least once in your life.
Wielding your imaginary lightsaber, you felt the force. With your grip held tight, the energy and power you experienced felt very real. As a Jedi, your mindset inspired others to align with compassion, selflessness, self-knowledge and enlightenment, healing, mercy and benevolence, right? Ok – maybe not so much!
But one thing is clear. During that brief imaginary moment in time, you really did feel as though you were representing something good. You imagined yourself as a hero; serving and protecting what you believed was right.
Our auto group is looking for a digital advertising company to start SEM, Display Advertising and Retargeting. We are expanding our digital advertising with all 10 of our dealerships and want to make sure we choose the right company.
We previously used dealer.com for digital advertising at a few of our dealerships, but cancelled due to lack of communication of results. We are now considering Mudd Advertising but don’t really know who else in the industry to consider as we are fairly new to this form of advertising.
BTW – Would like to hear from dealerships only. No pitching from vendors please.
Like most new concepts and practices, it takes time for new ideas to be embraced. It takes even more time for dealers to implement them effectively and streamline their business processes around them.
I would argue for the 80/20 rule in our business when it comes to new ideas, that is, until at least 20% of dealers embrace an idea, the other 80%-plus will not. As we reach the 20% threshold, the remaining dealers begin to follow suit.
Generally speaking, it takes at least 2-3 years for new ideas to reach the 20% threshold, and then another 3-5 years for the industry as a whole to catch on. We’ve seen this with a several developments such websites, display, social media, live chat and mobile…
IoT or the internet of things, is defined by Wikipedia as, “the network of physical objects or things embedded with electronics, software, sensors, and network connectivity…creating opportunities for more direct integration between the physical world and computer-based systems.”
IoT is a hot topic in retail, promising to transform how brick and mortar stores market and sell products to an increasingly smartphone-based shopper. As customers are using mobile to supplement the shopping experience, IoT is becoming the bridge between the mobile device and the retail object.
Bluetooth Low Energy (BLE) has been at the forefront of retailing technology for its ability to provide micro-targeting smartphone experiences for the mobile shopper. More commonly known as “beacons,” these devices can be placed throughout a retail environment and trigger automatic actions on a nearby smartphone that shoppers can engage with.
Over 400 million beacons are estimated to be deployed in the next 4 years. [Read more…]
Tis the season. And we should be thinking about cookies, and decorations, and that creepy Elf sitting on a shelf waiting for a mischievous situation to appear.
I am soooo glad my kids are too old for that. My elf would be sitting in the same spot the entire season. I would have to come up with some good lies. And I am not so hot at that.
Black Friday was just last week, and it definitely told us something about the changing shopping habits of Americans. Including automotive shopping.
Historically, Black Friday was the opening of the floodgate for holiday shoppers. The deals, the excitement, the kitsch of it all brought shoppers out in droves to kick off the hunt for a deal, insane spending, and a few well-placed elbows. And generally, economists could gauge a spending forecast for the season based on this one day.
Well, the jingle has jangled, and for the first time Black Friday was beat out by…Cyber Monday!
And why not? Shoppers got the same deals online as they would in the store for the most part, and could do so from the comfort of their couch while still digesting their turkey and pecan pie (I’m not a fan of pumpkin).
Now, you may be thinking “Why do I care? People still need to come on-lot to purchase a car!”
Here is the reason…