December 10, 2013
Need to Know
NEWS YOU 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.


jeffreys-angelica-450

VIDEO: Make the Most of Your Online Reputation

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

VIDEO: Make Your Customers Feel Smart
leslie-ryan
  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
dealerrater-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
BY NADA UNIVERSITY

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  
HOW-TOs BY INDUSTRY EXPERTS

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  
USED VEHICLE VALUES

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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AutoTrader.com
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Fiserv
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Thrifty Car Sales
Find out what Thrifty Car Sales Franchise Opportunities can do for you.
AutoUSA
AutoUSA Internet Sales Solutions brings the best-in-class tools to increase Internet sales and lower costs for automotive dealerships.
IMN
IMN is the digital marketing company that delivers branded newsletters and content for more than 3,000 organizations worldwide, combining custom, vertically-oriented content with advanced publishing technology and services.
vAuto
vAuto's Provision™ suite of inventory management tools is the auto industry's leading solution to help dealers increase used vehicle sales, profitability and return on investment.
Dealer.com
Turn-key automotive Internet marketing on one platform.
NADA University
One Source, Endless Possibilities, 24/7.




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