CBT Automotive Network Podcast

There are countless applications for Artificial Intelligence in the auto retail industry and the possibilities they present are endless. In fact, AI technologies are projected to increase business productivity by up to 40 percent by the year 2035. To find out more about how AI is integrating into the auto retail industry and how dealers can utilize its capabilities, we recently spoke to Dr. Mark Colosimo, Vice President of Data and Analytics at Urban Science.

Manage Your Dealership’s New Vehicle Inventory More Efficiently with These Tips – Dale Pollak | How to Sell GAP Insurance with Less Pressure and More Trust | Six Tips for Creating a Stellar Customer Experience on Multiple Marketing Channels

Today on CBTNews.com – Tuesday, September 10th, 2019:

Manage Your Dealership’s New Vehicle Inventory More Efficiently with These Tips – Dale Pollak, vAuto

On today’s show, we’re pleased to welcome back Dale Pollak, founder of vAuto and Executive Vice President for Cox Automotive, back to CBT News. In this segment, Jim and Dale discussed the importance of managing your dealership’s new inventory in a practical and effective way.

How to Sell GAP Insurance with Less Pressure and More Trust

There may not be a much more maligned F&I product to sell than GAP insurance. It’s the one product that buyers seem to understand the least about yet if they total their car, they will kick themselves for NOT having. It’s a tough sell but it doesn’t have to be… F&I pros know what it is…the coverage to handle the difference between what the car is worth and what your outstanding loan balance is at the time of a total loss or vehicle theft. It can save a buyer thousands and keep them from loan default.

Six Tips for Creating a Stellar Customer Experience on Multiple Marketing Channels

Omnichannel marketing isn’t necessarily a new concept. From the days of billboards, television ads, and magazine ads, marketers have had to figure out how to appeal to customers using a variety of tactics. However, today, the channels that are having an influential impact on consumers are now digital. Those dealers who understand the importance of creating an omnichannel marketing strategy that includes these new digital touchpoints and channels will be steps ahead of the competition and will enhance the interactions customer have with their staff in the long-term.

On today’s show, we’re pleased to welcome back Dale Pollak, founder of vAuto and Executive Vice President for Cox Automotive, back to CBT News. In this segment, Jim and Dale discussed the importance of managing your dealership’s new inventory in a practical and effective way.

Today on CBTNews.com – Monday, September 9th, 2019:

Increase Lead Conversion with These Automated Marketing Campaign Strategies – Eric Mercado, WeDrive Automotive

According to recent studies by Invesp, automated marketing campaigns, on average, increase sales productivity by 14.5 percent, with 77 percent of automation users reporting an increase in lead conversions. However, by customizing this smart technology even further, your dealership can provide highly personalized experiences for customers, and bring in even more leads. Recently we sat down with Eric Mercado, president of WeDrive Automotive, to discuss this idea in more detail.

Try Performing A Basic Service Inspection Immediately, Then Prioritizing Work Your Customer Needs

Every customer who pulls into your service department deserves to know the overall condition of their vehicle, each time he or she visits. As a matter of safety, a check of the vehicle’s critical operating systems can give a customer some piece of mind and ability to plan for future needs.

Increase Service Retention with These Innovative Service Contract Features

Service contracts have been around for a long time. They provide additional profit opportunities at the time of sale, and theoretically provide more service opportunities after the sale. The problem is that most service contracts do not tie a customer to the dealership where they are purchased. Some of the latest innovations with service contracts revolve around ways to tie customers to dealerships as well as ways to increase take rates. Here is a quick look at some of these innovations.

According to recent studies by Invesp, automated marketing campaigns, on average, increase sales productivity by 14.5 percent, with 77 percent of automation users reporting an increase in lead conversions. However, by customizing this smart technology even further, your dealership can provide highly personalized experiences for customers, and bring in even more leads. Recently we sat down with Eric Mercado, president of WeDrive Automotive, to discuss this idea in more detail.

Week In Review: How to Get the Most Value From Your Vendors, Employees, and Marketing Processes | AIADA Chairman Howard Hakes on NAFTA, Tariffs, and Vehicle Affordability | Debunking Common Misconceptions About Digital Retailing

CBT News Week In Review for Friday, September 6th, 2019:

How to Get the Most Value From Your Vendors, Employees, and Marketing Processes – Glenn Pasch, PCG Companies

Is your dealership making the most of your current marketing process, software, and employees? Well, now is the time to assess the strengths and weaknesses of your dealership and make any necessary changes. On today’s show, Jim welcomes back Glenn Pasch, CEO of the PCG Companies to discuss tips for compiling and analyzing your dealership’s marketing data, hiring employees, and tackling other challenges facing the industry today.

AIADA Chairman Howard Hakes on NAFTA, Tariffs, and Vehicle Affordability

This summer sure has been busy for Washington with U.S.-China trade war threats, CAFE regulations, and a historic cut in interest rates. And the folks over at AIADA have been following these developments closely and measuring the impact they will have on the industry. Recently, we caught up with Howard Hakes, the 2019 Chairman for AIADA to discuss these industry events in more detail.

Debunking Common Misconceptions About Digital Retailing – Mo Zahabi, VinSolutions & Dealertrack

Digital retailing continues to be a topic on everyone’s mind in the auto retail industry. In fact, according to Cox Automotive, 61 percent of all car shoppers are reaching and buying vehicles online, and there are multiple projections that number will climb. To debunk some common misconceptions about digital retailing and how out how to capitalize on this trend, we recently caught up with Mo Zahabi, Senior Director of Product Consulting at VinSolutions and Dealertrack.

Usher in the Next Generation of Service Technicians with These Proven Strategies – Lee Harkins, M5 Management Services

According to NADA, the auto retail industry needs to fill and replace 76,000 technician jobs each year in order to offset the pace of industry growth. And with baby-boomers beginning to age out of the workforce, now is the time to invest in future students of the trade. To find out effective ways dealers can usher in the next generation and combat the tech shortage, we recently welcomed back Lee Harkins, fixed-ops expert and President and CEO of M5 Management Services.

Usher in the Next Generation of Service Technicians with These Proven Strategies – Lee Harkins | Five Must-Have Components for Your Next Successful Dealership E-Newsletter | Dress to Impress: What Message is Your Dealership Staff Sending?

Today on CBTNews.com - Thursday, September 5th, 2019:

Usher in the Next Generation of Service Technicians with These Proven Strategies – Lee Harkins, M5 Management Services

According to NADA, the auto retail industry needs to fill and replace 76,000 technician jobs each year in order to offset the pace of industry growth. And with baby-boomers beginning to age out of the workforce, now is the time to invest in future students of the trade. To find out effective ways dealers can usher in the next generation and combat the tech shortage, we recently welcomed back Lee Harkins, fixed-ops expert and President and CEO of M5 Management Services.

Five Must-Have Components for Your Next Successful Dealership E-Newsletter

Contrary to popular belief, when it comes to genuinely capturing the attention of your automotive audience, email is where you should put your focus. While social media is the current “talk of the town,” it is easy to forget how powerful email marketing can be when it comes to engaging your customer base. Email marketing has an ROI of $44 for every dollar spent, and data shows that 77 percent of people prefer to get permission-based promotional messages via email (when compared to direct mail, phone, text, or social media).

Dress to Impress: What Message is Your Dealership Staff Sending?

30 years ago, it seemed that everybody wore a suit and tie to work. While suit and tie may be overkill for most industries by today’s standard, there should still be a sense of pride and professionalism in the way we dress. Many employers, especially in the tech industry, are leaning toward t-shirt, jeans, and sandals over the traditional attire. Dress codes at companies like Google, Facebook and Apple have garnered attention (and envy) from the rest of us who still might need to wear something less comfortable to work every day.

According to NADA, the auto retail industry needs to fill and replace 76,000 technician jobs each year in order to offset the pace of industry growth. And with baby-boomers beginning to age out of the workforce, now is the time to invest in future students of the trade. To find out effective ways dealers can usher in the next generation and combat the tech shortage, we recently welcomed back Lee Harkins, fixed-ops expert and President and CEO of M5 Management Services.

Debunking Common Misconceptions About Digital Retailing – Mo Zahabi | Five Critical Marketing Tactics to Get More Customers Visiting Your Service Department | 6 Video Ideas for Social Media Outreach

Today on CBTNews.com – Wednesday, September 4th, 2019:

newscastDebunking Common Misconceptions About Digital Retailing – Mo Zahabi, VinSolutions & Dealertrack

Digital retailing continues to be a topic on everyone’s mind in the auto retail industry. In fact, according to Cox Automotive, 61 percent of all car shoppers are reaching and buying vehicles online, and there are multiple projections that number will climb. To debunk some common misconceptions about digital retailing and how out how to capitalize on this trend, we recently caught up with Mo Zahabi, Senior Director of Product Consulting at VinSolutions and Dealertrack.

Five Critical Marketing Tactics to Get More Customers Visiting Your Service Department

Service departments account for 11 percent of the revenue at dealerships. Fortunately, with the right marketing tactics and messaging, dealerships can increase this number while using service appointments to raise customer retention. Don’t feel as if you have to implement all of the above tactics at once. Start with one, build on that, and see how you can expand further. With some savvy strategy and marketing tactics, your service department can become a primary revenue stream for you and your dealership.

6 Video Ideas for Social Media Outreach

Social media is the next frontier for customer outreach and connection. Video content, in particular, is a powerful tool for engaging with your buyers and building your brand. If you’re new to the medium, though, making a video can be overwhelming. You may not be sure what to make videos of, or insecure about the quality of your videos. Not to worry! Here are six video ideas that are easy to make no matter what equipment you have.

Digital retailing continues to be a topic on everyone’s mind in the auto retail industry. In fact, according to Cox Automotive, 61 percent of all car shoppers are reaching and buying vehicles online, and there are multiple projections that number will climb. To debunk some common misconceptions about digital retailing and how out how to capitalize on this trend, we recently caught up with Mo Zahabi, Senior Director of Product Consulting at VinSolutions and Dealertrack.