The automotive market is still reeling from the disruption experienced in 2020, and in order to grow in this volatile market, auto dealer’s operational tools need to be up to par. Often used for standard internet lead management, the right Customer Relationship Management (CRM) software should have more bells and whistles to helps tackle today’s […]
As the auto industry shows signs of improvement and the U.S. economy continues to recover, Affinitiv uncovered some new threats to vehicle sales. Despite the positive economic trends of lower unemployment and higher disposable income, manufacturers and dealers need to be prepared to adapt their strategy if the sales recovery stalls. Affinitiv has been tracking the reasons customers decide not […]
Risk: An Undeniable Part of Every Organization There’s no getting around it: every organization faces a variety of risks. Risks are essentially the effects of uncertainty, and include financial, legal, reputational, and supply chain risks, among others. One important risk frequently makes headlines—Cybersecurity risk. The National Institute of Standards and Technology defines Cybersecurity as: Prevention […]
In December 2020—at the end of a truly landmark year—trade association giant Localogy affirmed that one-size-fits-all marketing had finally met its end. Going forward, dealers should not only understand how the pandemic and its results are affecting customer behavior, but they should also customize and personalize their marketing on a whole new level to accommodate the wide range of consumer reactions. Fortunately, solutions that had already proven […]
It’s no secret: when used correctly, Facebook has the power to totally transform your dealership’s brand perception and drive targeted revenue opportunities with precision. There has never been a better time to start making Facebook worth your time and money! We’ve narrowed down 9 basic steps you can take today to improve your performance on […]
2020 was pure, uncharted territory. This year began like every other. The first quarter preparation was the same. Goal setting looked the same. Tactics varied ever so slightly. A steady, familiar course. Until it wasn’t. Here is what we learned in 2020 that will help you maximize profits in 2021: 1) Dealers are still feeling […]
VIDEO TRANSCRIPT: Jim Fitzpatrick: Thank you so much for joining us on the show. Mike Dodd: Thank you for having me. Jim Fitzpatrick: Sure. Having a great show so far? Mike Dodd: Absolutely. Man, it’s an absolute whirlwind for us at the moment. Have you been by the booth? Jim Fitzpatrick: I have. Mike Dodd: […]
As of mid-year 2018, used vehicle sales by new vehicle dealerships had exceeded $750M, according to NADA. The average dealership picked up a fraction of this amount—$9.6M, to be precise. Industry leader CarMax sold 721,512 used vehicles, taking home $14.3B in sales during its fiscal 2018 year. An added 409,000 vehicles were sold at CarMax wholesale auctions.