Digital Dealer (#DD8), Orlando Florida – Recap
by Al Hess, General Manager – Field Sales & Operations
This was my fourth Digital Dealer conference (DD8) and the fourth with distinct personality and content. Apart from other industry events, DDC is well worth the time and money investment. Digital Dealer reports that the Spring 2010 conference dealer attendance and exhibitor presence was at a record high. The two hot topics this year, based on my observations, were 1) pricing analytics (necessity, usage and market advantages) and 2) social media.
The discussion around pricing analytics remains interesting. The dealer community I speak with understands the general purpose and existence of the tool yet differ on how in-depth they need to go for a complete vehicle analysis and how much to invest in a corresponding product. Many are performing pricing analysis and comparisons using one of several free tools already embedded in an existing solution. Others invest in more robust analytics focused on per vehicle profit objectives, allowing such analysis to drive their inventory selection. If you attended the DD8 general session, you likely walked away as I did realizing there continues to be multiple methods for accomplishing the same result for marketing cars, stocking and turning inventory to maximize profits.
Social media discussions continue to focus on reputation management and the need to engage customers now in a social community forum. The risks are simply too great for any dealer not to be monitoring what people are saying about them, and forfeit the opportunity to engage online. The monetization of that social media effort comes not from a direct marketing strategy of advertising vehicles for sale, rather from promoting and protecting your brand and your community purpose. Selling cars can be a trickle down result from the extent of your social media presence and how well you execute what are now clearly defined best practices.
A third interesting observation is while many vendors had a mobile solution within their product offerings, there was very little session content around mobile. Mobile is a most exciting and opportunistic area for all retailers, including automotive retailers. This landscape is being crafted currently at rapid speed. I am very interested to see if DD9 at the Mirage Hotel in Las Vegas October 12 – 14 addresses this topic with more education.
What direction is your business taking to help select, turn and price inventory?
May 03 2010 | General | 2 Comments »
What will you make of NADA this year?
by Glen Garvin, Dealer Specialties
I’ve been attending NADA for quite a number of years now and in that period of time I’ve changed my outlook on the conference considerably. Fair warning: I’ve never attended as a dealer, always as an Allied Industry or Exhibitor and this year as a Speaker (plug: http://bit.ly/bhL6ru). Despite not being a dealer, I would guess that many of you have changed your outlook as well… especially in the last few years.
Pre-registration attendance is up this year but still well behind two years ago. My perception is that in the preceding years, dealers and managers would attend for some “get-away” time mixed with a couple of soft agenda items such as, “I’m looking for a new CRM company” or “I want to investigate website opportunities”. Dealers would highlight some vendors in the NADA book and off they would go. They might sit in on some workshops and their OEM meetings… then spend some time having fun.
How does that differ from today? Oh, I still think dealers know how to have fun and will make time for that. It’s understandable, rational and well-deserved after putting 2009 in the books. Surviving 2009 alone is a feat and the “industry correction” has caused dealers to re-examine things they haven’t in a long time… to become more engaged… to be more hands-on. The result? Operations that are more efficiently ran, leaner and better. In many ways this is easily compared to pruning a tree. I’m always nervous about doing this as I worry that it won’t grow back better and stronger as anticipated…and it always does!
So, with dealers more operationally and strategically focused, what does this mean for the NADA conference? I think we’ll see that translate into more engaged dealers with more specific agendas. There won’t just be highlights in the pre-show book, but questions and plans to see more, learn more, attend more workshops, engage vendors in thought provoking conversations and more idea generation.
What can you do to help make the most out of NADA? Here are some tips:
- If you engage on Twitter or Social Media, follow the sites. Follow @2010NADA and #2010NADA. If that doesn’t mean anything to you (or even if it does) you should attend one or multiple of the social media workshops being held at NADA! Here is a link to all of the workshops offered: http://bit.ly/drjH9x
- Visit your current and prospective vendors. Here’s a list of the exhibiting companies http://bit.ly/bwLWKF. Why your current vendors? What better, non-pressured place to engage, learn and ask questions?
- Network. At lunch, on the shuttle bus, at social events, anywhere… ask others, “What did you see that was interesting?” or “What was the best thing you’ve seen?” or “What workshops did you attend?”
More than anything else, make a plan and enter the 2010 NADA convention with the “end in mind”. What do you want to walk away accomplishing and then make a plan to reach that goal. But don’t forget to have some fun too… you’ve earned it! Here’s a good place to start: http://bit.ly/agvuao
February 10 2010 | General | No Comments »
This was my fourth Digital Dealer conference (DD8) and the fourth with distinct personality and content. Apart from other industry events, DDC is well worth the time and money investment. Digital Dealer reports that the Spring 2010 conference dealer attendance and exhibitor presence was at a record high. The two hot topics this year, based on my observations, were 1) pricing analytics (necessity, usage and market advantages) and 2) social media.