Tracks Workshop

Digital Platforms Transforming Vehicle Logistics

Providing dealers and institutional consignors with user-friendly technology to manage their vehicle transportation, and how an exercise in Customer Experience Design and Data Intelligence led to the creation of a digital platform.

Areas of Focus:

  • Evolution of the transportation space in the US, including technical limitations before ELD, EPOD, etc.
  • What are the barriers to change based on customer feedback
  • Recent advances that are impacting the automotive and logistics industry
  • The role of carriers and the importance of integration between shipper platforms and the systems carriers are utilizing
  • How dealers and consigners can leverage a digital platform to gain significant efficiencies in vehicle transportation

Key Takeaways:

  • Collection and utilization of data intelligence combined with a customer-centric experience are critical for solutions to help dealers and consignors in today’s marketplace
  • This type of customer-centric digital platform exists today that can solve historical barriers and challenges in vehicle transportation
  • Dealers and consignors that adopt and utilize these digital platforms in their end-to-end logistics operations will yield significant efficiencies and the greatest advantage over their competitors

The “Other” Electric Buyer

The market shift to electric vehicles is a daily news headline – the myriad of models being introduced by manufacturers and their planned timeframes, increasing sales volumes, and consumer anticipation. While you know the market shift is occurring, do you know the metrics of which electric vehicles are selling and which consumers are purchasing them? Yes, “Tesla buyers” are the current majority, but what about the “other” buyers. How do consumer profiles vary and differ amongst luxury vs. non-luxury vehicle segments and the associated makes and models? Join our workshop to understand the current electric vehicle landscape, how the market segment is changing, as well as the consumer profile for these purchases.

Key Takeaways:

  • Electric vehicle sales and registrations are clearly on the rise. Are you aware of details about current registration trends and growth rates?
  • To date, Tesla has been the EV market leader and we know the demographics of those purchasers- but what about the ‘other’ EV buyers? What do buyers of other EV luxury makes look like and how do they differ from Tesla purchasers? What are the demographics of non-luxury EV buyers?
  • As the electric vehicle market continues to expand, are you armed with the necessary insights for marketing to specific customer subsets who are not the current majority purchasers?

Stop Everyone From Reaching Into Your Pocket! Part 2

Everyone is always reaching into the dealer’s pocket. That stops now!

In this session, you will leave with a solid understanding of how to ensure you are keeping the money you make.

By looking at your daily risk through a different lens, you will discover a whole new side of your business which may have gone unnoticed.
Unlock the nuances of your insurance policies and how they should help you operationally. Implementing proper loss control procedures will stem the erosion of “gross” from your bottom line. Stopping problems before they happen saves you money.
You’ll be energized to put your entrepreneurial spirit to work as soon as you get back to the store! Don’t miss this one!

Key Takeaways:

  • You will understand some nuances of your insurance policies: what’s covered, what’s excluded, primary areas of concern, what new products to consider to protect your dealership
  • Through a unique perspective, you will learn how to view specific dealership problems in a new light (using real life examples), how dissect and how to solve those complex problems
  • How dealers can transfer risk and use new tactics to get an early opportunity at resolving problems before they become too big and too expensive
  • You will learn the biggest areas of dealership liability exposure to consider fixing right away
  • Tom Kline will resolve any participants’ problems during the seminar if audience members are willing to participate in this meaningful way (and they often are!)

Data + Leadership = Successful Change

The amount of data available in the world is expected to double by the end of 2024. The vast amount of data available will provide new challenges to the way we conduct business. During this workshop, we are going to talk about leadership in the data-driven world in which we live and work. Due to the vast quantity of data, there must be an organizational shift to incorporate data processes into the entire organization, not just the IT department. Yes, data is computer science and some may even say it is rocket science, but it doesn’t have to be that way. Using tools most employees currently have on their desktop PCs, most anyone can produce data and data analysis. And last, we will discuss how to keep computers from overtaking the human aspect of work.

Key Takeaways:

  • Data is no longer the job of the CIO or IT department. Everyone should think critically about the data they collect and how they use it. Making sure that everyone in the room is involved in the process of making AI is the only way that we can make sure it’s safe.
  • Data is not rocket science. Most data problems can be solved by your current employees. Ordinary people and managers who haven’t had a lot of training can use simple tools like Microsoft Excel to make powerful analyses. Find out what your business needs to do and then figure out how to do it.
  • Having a lot of data is great, but it isn’t the same as talking to your employees and customers. A lot of big data and analytics are used too much by many businesses when they are looking for strategic ideas. And, waiting too long to make decisions can slow down businesses, frustrate employees, and make them miss out on important opportunities. It’s sometimes better to just make a decision rather than get more information or think about it more.

Perpetual Search, next gen search marketing

New technology, privacy, and consumer click fatigue are catalysts for advancements in search marketing and consumer engagement. Perpetual Search is the next generation of search technology enabling consumers to connect continuously with dealer inventory and sales teams. No longer does the consumer and a vehicle of choice have to be on the dealer website at the same time. A critical feature during an inventory shortage. Further, perpetual search is less costly and pricing is static creating a more predictable ROI. Finally, perpetual search technology can be deployed anywhere online, even offline as a QR code deployed on vehicle windows or elsewhere thus activating new prospects anywhere, anytime.

Key Takeaways:

  • Why SEM and PPC are impacted by new privacy and technology development.
  • How Perpetual Search comes to the rescue and revitalizes advertising effectiveness
  • What is Perpetual Search and how it changes the rules and norms of digital marketing.

25 Ways to Increase Your Website Leads & Sales Without Spending a Penny More on Marketing

Most dealerships we talk to want to increase leads from their website, but they think the only way to increase their leads is to spend more on marketing. They think they have a website traffic problem when they really have a website conversion problem (leakage in the funnel). In this session, you will discover mobile internet usage trends that your current website provider is not sharing with you and how a mobile-first website user experience (UX/UI) can instantly increase your leads and sales without spending a penny more on marketing. Lyamen will share 25 side-by-side visuals comparing mobile-first versus mobile-responsive websites, tried-and-true best practices from other industries, and case studies on how other dealerships addressed these same mobile usability issues and immediately had record-breaking sales month.

Key Takeaways: 

  • Why consumers are leaving your dealership website and going to 3rd party marketplace websites like CarGurus and AutoTrader
  • #1 thing that influences consumers’ decision to buy a car from your dealership
  • 25 side-by-side visual examples of mobile user experience (UX) best practices (UX)

Completion-Driven Customer Journeys and Fraud Prevention in Auto Lending & Servicing

Many of today’s lenders invest everything possible in creating a stellar customer experience. From glossy advertising to strong dealer relationships, the best lenders are pouring time and money into reeling in new customers. But at the moment of truth — when a customer is about to onboard or needs to receive service — lenders tend to slow down. Customers find themselves bounced between agents, touchpoints, and channels, and are lost.

To be sure, in the digital age, much of the customer journey is happening independently. By making it easier to navigate a webpage or app, and by enabling the customer to interact with their lender via chat and social media, financial institutions have improved customer journeys significantly.

However, research shows that most customers still prefer to receive agent-assisted help when in need to complete a complex task or process. This last leg of the journey is often long, painful and full of friction. In many cases, these bumps in the last mile lead to a failure to complete the task. Customers attempt to finalize their loan applications, but their efforts are thwarted.

We have identified two of the primary reasons why auto lenders fail to bring interactions to completion: The prevalence of silos and legacy channels.

Key Takeaways:

  • Essential data on digitization in the automotive industry
  • How to provide a fully digital customer experience from purchase to finance to servicing
  • How to remove silos and easily collect stips, signatures, payments and verify ID in a digital, automated fashion

Using Data To Predict Subprime Auto Performance

Explore how data science is utilized to help the auto industry better predict the performance of subprime auto loans. This underserved, underbanked, and previously considered risky segment is quickly becoming a viable asset class. What does this mean for the future of subprime? Chad Stilwell will answer questions about how data and analytics can be used to better understand and improve portfolio performance and more. Chad has played a key role in many of the industry’s firsts such as crowdsourced securitizations, launching a line of credit with a reducing interest rate, and developing a technology platform that provides a book value for subprime auto loans. New approaches are under consideration every day to fuel growth, provide access to knowledge, and the freedom to do so.

Key Takeaways:

  • Define data science and how analytics are applied to the auto industry to make better business decisions.
  • Demystify subprime auto finance to open this new and viable market segment.
  • Highlight why these changes are transformative for the auto industry and how they impact lenders, dealers, and consumers.

US Auto Sales, Financing and Used Vehicle Insights

Industry overview of New and Used Vehicle Sales.
Used Car Pricing and Trends
Auto Financing Origination Data

Data is sourced from the JD Power “PIN” database comprised of DMS data from 12,000 Franchised Automobile Dealers.  In addition, data also is contributed by the NADA Used Car Guide and ALG (both of which are JD Power Companies), as well as from our Industry Forecasting Team.

Key Takeaways:

  • Data and insights to US Automotive vehicle sales, OEM Profitability segments, incentives, trends, and outlook
  • Comprehensive review of the Used Vehicle marketplace, prices, values and future outlook.
  • Key insights to the auto lending market, origination’s data includes provider segments, Loan vs. lease, credit scores, LTV’s, pricing trends and more.

How to Keep Consumers Connected

The ‘Connected Car’ is the buzz of the industry, but the real belle of the ball is the ‘Connected Consumer.’

While a vehicle on average has 176 “connection points,” the consumer has thousands of points of communication, and what ultimately matters for dealers, lenders, OEMs, and F&I providers, is how to most effectively deliver timely and relevant messaging to today’s savvy vehicle shopper and owner.

With so much conversation around the connected car, we’ve lost sight of the ultimate objective: Connecting with the consumer and creating an ongoing relationship that leads to a loyal and connected customer.

Digital Air Strike will share the top strategies for dealers, OEMs, financial services, and aftermarket companies to connect and empower consumers in ways that drive conversions and loyalty.

The target is to get the right message to the customer at the right time using the right medium throughout the consumer’s path to purchase and beyond. This is done by leveraging technology and data. The more personalized you are, the more consumer engagement you’ll get.

Key Takeaways:

  • Learn how to use technology and data to connect and empower consumers and drive conversions and loyalty.
  • Understand gaps in your consumer communication to keep customers coming back for more sales and service.
  • Discover the top strategies dealers use to deliver timely and relevant messaging to consumers.