December 10, 2013
Need to Know

auto-dealership Today’s News in Context — Tuesday, Dec. 10

Heat Maps May Track Prospects in Your Deal­er­ship & Lot

  • Small & large retail­ers track­ing cell phones with small gadgets
  • As many as 1,000 stores track peo­ple movements

Would You Accept Bit­Coin Cur­rency for New Car Purchase?

  • Cus­tomers using hot new cur­rency in cof­fee shops & online
  • MSNBC reported that a cus­tomer used Bit­coins to by a Tesla

Forced Hertz Sale of Advan­tage By FTC Causes Bankruptcy

  • FTC Told Hertz to Sell Advan­tage to Make Dol­lar Pur­chase Ok
  • But gain­ing Gov’t approval of Dol­lar deal took too long

Stan­ford Research Says Reviews Impact Cus­tomer Decisions

  • Vol­ume of online reviews caus­ing shift in con­sumer behavior
  • Reviews are actu­ally under­min­ing adver­tis­ing messages

Tex­ting is Now the Cen­ter of Your Universe

  • Every­one is tex­ting, includ­ing send­ing pho­tos that disappear
  • Auto deal­ers using more cre­ative tex­ting to reach customers

5 –Hour Energy Drink Has 5x Star­buck Caf­feine Level

  • Coke, Cof­fee, Pep pills –now 111.4 mg of caf­feine in 5-Hour Energy Drink

Be the smartest per­son in the room. Get a quick inges­tion of the above-mentioned sto­ries RIGHT HERE.


VIDEO: Make the Most of Your Online Reputation

Build­ing con­tent in the form of cus­tomer reviews on is one great way to pos­i­tively man­age your online reputation.

VIDEO: Make Your Customers Feel Smart
  Ask a Personal Favor for Reviews

Make your cus­tomers feel smart for buy­ing a vehi­cle from you — by posi­tion­ing reviews as ‘per­sonal favors’ in which those cus­tomers can talk about the intel­li­gent pur­chases they made.

VIDEO: The Power of Reviews
  Reviews Drive Business: Here’s the Proof

Deal­er­Rater, the indus­try leader in con­sumer reviews of auto­mo­tive deal­er­ships, recently teamed up with Polk to inves­ti­gate the effect of a dealership’s aver­age star rat­ings on new vehi­cle sales and prove the mea­sur­able value of our award-winning Cer­ti­fied Dealer Pro­grams. Here’s what the study found!

Dealer Pain Points

pp35_babies Family Leave is for More Than Childbirth

If you thought the Fam­ily Med­ical Leave Act is just for employ­ees who are going to have a baby, think again.

NADA Uni­ver­sity has a course on the sub­ject, and you can click for a video that briefly cov­ers your responsibilities.

Crook Insider Crime: How to Handcuff a Crook

A “trust but ver­ify” pol­icy with employ­ees at your deal­er­ship may save you a lot of money and headaches when it comes to a uniquely Amer­i­can phrase: The Five Fin­ger Dis­count. Act now before the police string up the yel­low crime scene tape at your store.

Click here to learn more.

mechanic Boosting Service Profitability

You ser­vice the vehi­cles you sell. Every­body gets that. But you have the best trained ser­vice tech­ni­cians in town. They can fix any­thing. Why not let them?

Click here to see a video that show­cases a deal­er­ship that uti­lizes its ser­vice techs tal­ent to the max.

Doing It Right  

Kel­ley Blue Book’s new car online shop­ping expe­ri­ence, fea­tur­ing an inno­v­a­tive car-pricing tool, Price Advi­sor, helps cre­ate a more qual­i­fied con­sumer through pric­ing edu­ca­tion, as well in-depth infor­ma­tion about car dealerships.

As part of this expe­ri­ence, Price Advi­sor enables deal­ers to dis­play Deal­er­Rater reviews and rat­ings to help con­sumers eval­u­ate, con­nect, and trans­act with confidence.

“The inte­gra­tion of Deal­er­Rater rat­ings and reviews within the Kel­ley Blue Book prod­uct set rein­forces our lead­er­ship posi­tion in the auto­mo­tive review space, the qual­ity and quan­tity of our con­tent, as well as how impact­ful dealer reviews are in the car buy­ing process,” said Chip Grueter, pres­i­dent at Deal­er­Rater. “It is more impor­tant and ben­e­fi­cial than ever for deal­ers to focus on gen­er­at­ing reviews on Deal­er­Rater and becom­ing a Deal­er­Rater Cer­ti­fied Dealer.”

Keep read­ing to learn about the addi­tional benefits!


Build a Better Dealership

excellent customer serviceJ.D. Power’s 10 Things I’ve Learned in Business

After fifty years work­ing with a range of companies—as well as found­ing and run­ning his own com­pany, J.D. Power and Asso­ciates — James “David” Power III has observed a good deal, and come away with a few thoughts about how to have the best shot at suc­cess in business.

The busi­nesses he’s seen grow, adapt, and thrive are the ones that keep a focus on sat­is­fy­ing cus­tomers by lis­ten­ing to them, antic­i­pate their needs and desires, and main­tain their orga­ni­za­tions’ pri­or­i­tiz­ing of these principles.

1. Listen—to your cus­tomers, your employ­ees, and your stakeholders. 

I have wit­nessed too many car man­u­fac­tur­ers move fur­ther away from achiev­ing sat­is­fied cus­tomers by refus­ing to lis­ten to them.

Keep read­ing for more lessons learned by James “David” Power III.

Behind the Numbers  

Leas­ing turned things around for vehi­cle sales three years ago – fueled by low inter­est rates, ris­ing resid­ual val­ues, and sweet deals from automak­ers with lower monthly payments.

Now, more off-lease cus­tomers are start­ing to return to the mar­ket. Automak­ers, deal­ers, and lenders are start­ing to pon­der a few questions.

What does it mean for brand loy­alty and cus­tomer reten­tion? Off-lease cus­tomers tend to be good for reten­tion, but the com­pet­i­tive land­scape is get­ting intense with incen­tives and low-priced monthly pay­ments being promoted.

Gen­eral Motors entered the leas­ing race last month after being away for a long time.

Auto lenders have been soft­en­ing their under­writ­ing stan­dards this year. Leas­ing has been grow­ing in this envi­ron­ment. What if lenders have gone too far?

Click here to read about other issues being con­sid­ered includ­ing early buy­outs and the resid­ual value environment…….

Dealer Resources 
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