CBT Automotive Network Podcast

Avoid These 5 Outdated Practices to Gain Your Customer's Trust - Joseph Michelli | Skip the Jargon When Selling Cars | Figure Out the Right Social Media Platform for Your Dealership

Today on CBTNews.com - Monday, May 13th, 2019:

Avoid These 5 Outdated Practices to Gain Your Customer's Trust - Joseph Michelli, NYT Best-Selling Author

Every dealer knows that providing clients with an excellent customer experience is the easiest and fastest way to win their loyalty. And while there are many strategies out there to help you build a great customer experience, there might also be negative habits going on, that you don’t even realize. On today’s show, we welcome back Joseph Michelli, customer service expert and New York Times best-selling author, to talk to us more about identifying and changing the habits that hold your dealership back.

Skip the Jargon When Selling Cars

Anyone who is an expert in his or her field or who has a passion for what they do knows how difficult it can be to tone down the jargon when they’re asked questions. There’s something about jargon that provides a small endorphin rush in some. For one, there’s the veneer of sophistication that it lends to what’s being said. Language also fosters a powerful group identity.

Five Ways to Figure Out What Social Media Platform is Right for Your DealershipA robust social media strategy can boost the marketing efforts of any dealership. However, you have to be aware of the amount of time needed to produce content, engage customers, and turn followers into car buyers. Each platform has its pros and cons, but as long as you are aware of the resources available and the limitations of your staff, then a decision can be made regarding the selection of the best social media platform.

Every dealer knows that providing clients with an excellent customer experience is the easiest and fastest way to win their loyalty. And while there are many strategies out there to help you build a great customer experience, there might also be negative habits going on, that you don’t even realize. On today’s show, we welcome back Joseph Michelli, customer service expert and New York Times best-selling author, to talk to us more about identifying and changing the habits that hold your dealership back.

Every dealer knows that providing clients with an excellent customer experience is the easiest and fastest way to win their loyalty. And while there are many strategies out there to help you build a great customer experience, there might also be negative habits going on, that you don’t even realize. On today’s show, we welcome back Joseph Michelli, customer service expert and New York Times best-selling author, to talk to us more about identifying and changing the habits that hold your dealership back.

Week In Review: How Dealerships Can Adapt to Changes in Consumer Demand | The Importance of Having Return Customers in the Service Drive | Common Leadership Challenges that Managers Face

CBT News Week In Review for May 10th, 2019:

How Dealerships Can Adapt to Changes in Consumer Demand - Brian Finkelmeyer, vAuto

Auto sales were reported down for most manufacturers in the month of April and the Federal Reserve decided to keep interest rates where they are for the foreseeable future. So what does this mean for consumer demand at your dealership? We recently caught up with Brian Finkelmeyer, Senior Director of vAuto, a Cox Automotive brand, to find out how dealerships can adapt to changing demand.

The Importance of Having Return Customers in the Service Drive - John Fairchild, Fixed-Ops Expert

According to Cox Automotive’s latest study, Opportunities to Build Customer Loyalty, an estimated 70 percent of consumers who purchased or leased from a dealer did not return for service in the past year. So, how can dealers increase sales in the fixed-ops department in 2019? On today’s show, Jim discusses the importance of having return customers in the service drive with fixed-ops expert and CBT contributor, John Fairchild.

7 Common Leadership Challenges that Managers Face and How to Overcome Them - Bruce Tulgan, RainmakerThinking

CBT welcomes back Bruce Tulgan, Founder and CEO of RainmakerThinking, popular author, and management consultant. On today's show, Bruce discusses what he calls 'the undermanagement epidemic'. He breaks down the seven common leadership challenges that managers face, how to identify under management at the dealership and practical strategies to improve your leadership skills.

April Car Sales: As New Vehicle Prices Rise, Consumers Continue to Trend Toward Used Vehicles, But For How Long? - Karl Brauer, KBB

While U.S. auto sales softened this past April, many customers continued to flock to used car lots due to vehicle affordability issues. However, this uptick in used-car sales might not last for much longer. Here to discuss April’s winners, losers, and more of what dealers can expect in the coming months, is Karl Brauer, executive publisher for AutoTrader and Kelley Blue Book.

Week In Review: How Dealerships Can Adapt to Changes in Consumer Demand | The Importance of Having Return Customers in the Service Drive | Common Leadership Challenges that Managers Face

CBT News Week In Review for May 10th, 2019:

How Dealerships Can Adapt to Changes in Consumer Demand - Brian Finkelmeyer, vAuto

Auto sales were reported down for most manufacturers in the month of April and the Federal Reserve decided to keep interest rates where they are for the foreseeable future. So what does this mean for consumer demand at your dealership? We recently caught up with Brian Finkelmeyer, Senior Director of vAuto, a Cox Automotive brand, to find out how dealerships can adapt to changing demand.

The Importance of Having Return Customers in the Service Drive - John Fairchild, Fixed-Ops Expert

According to Cox Automotive’s latest study, Opportunities to Build Customer Loyalty, an estimated 70 percent of consumers who purchased or leased from a dealer did not return for service in the past year. So, how can dealers increase sales in the fixed-ops department in 2019? On today’s show, Jim discusses the importance of having return customers in the service drive with fixed-ops expert and CBT contributor, John Fairchild.

7 Common Leadership Challenges that Managers Face and How to Overcome Them - Bruce Tulgan, RainmakerThinking

CBT welcomes back Bruce Tulgan, Founder and CEO of RainmakerThinking, popular author, and management consultant. On today's show, Bruce discusses what he calls 'the undermanagement epidemic'. He breaks down the seven common leadership challenges that managers face, how to identify under management at the dealership and practical strategies to improve your leadership skills.

April Car Sales: As New Vehicle Prices Rise, Consumers Continue to Trend Toward Used Vehicles, But For How Long? - Karl Brauer, KBB

While U.S. auto sales softened this past April, many customers continued to flock to used car lots due to vehicle affordability issues. However, this uptick in used-car sales might not last for much longer. Here to discuss April’s winners, losers, and more of what dealers can expect in the coming months, is Karl Brauer, executive publisher for AutoTrader and Kelley Blue Book.

7 Common Leadership Challenges that Managers Face and How to Overcome Them - Bruce Tulgan | How to Turn Recalls Into Positive Customer Experiences | Phone Calls: The Good, the Bad, and the Exceptional

Today on CBTNews.com - Wednesday, May 8th, 2019:

7 Common Leadership Challenges that Managers Face and How to Overcome Them - Bruce Tulgan, RainmakerThinking

CBT welcomes back Bruce Tulgan, Founder and CEO of RainmakerThinking, popular author, and management consultant. On today's show, Bruce discusses what he calls 'the undermanagement epidemic'. He breaks down the seven common leadership challenges that managers face, how to identify under management at the dealership and practical strategies to improve your leadership skills.

How to Turn Recalls Into Positive Customer Experiences

Recalls are never good news for customers. At best, it means the added inconvenience of scheduling an appointment, waiting for the repair, and/or leaving their vehicle with the dealership. At worst, unaddressed recalls can cause accidents, or induce fear of potential issues. In 2018, around 30 million vehicles in the U.S. were affected by recalls, according to NHTSA figures. Recalls are often viewed as negative events for customers and dealers alike. However, with the right approach, recalls can become a positive experience for both parties.

Phone Calls: The Good, the Bad, and the Exceptional

Competition is heating up.  Shoppers are more informed than ever.  Margins are shrinking. Amid the challenges and chaos of a modern dealership, one thing remains certain: the best opportunity for you to sell more cars is to do more with the leads you already have.

7 Common Leadership Challenges that Managers Face and How to Overcome Them - Bruce Tulgan | How to Turn Recalls Into Positive Customer Experiences | Phone Calls: The Good, the Bad, and the Exceptional

Today on CBTNews.com - Wednesday, May 8th, 2019:

7 Common Leadership Challenges that Managers Face and How to Overcome Them - Bruce Tulgan, RainmakerThinking

CBT welcomes back Bruce Tulgan, Founder and CEO of RainmakerThinking, popular author, and management consultant. On today's show, Bruce discusses what he calls 'the undermanagement epidemic'. He breaks down the seven common leadership challenges that managers face, how to identify under management at the dealership and practical strategies to improve your leadership skills.

How to Turn Recalls Into Positive Customer Experiences

Recalls are never good news for customers. At best, it means the added inconvenience of scheduling an appointment, waiting for the repair, and/or leaving their vehicle with the dealership. At worst, unaddressed recalls can cause accidents, or induce fear of potential issues. In 2018, around 30 million vehicles in the U.S. were affected by recalls, according to NHTSA figures. Recalls are often viewed as negative events for customers and dealers alike. However, with the right approach, recalls can become a positive experience for both parties.

Phone Calls: The Good, the Bad, and the Exceptional

Competition is heating up.  Shoppers are more informed than ever.  Margins are shrinking. Amid the challenges and chaos of a modern dealership, one thing remains certain: the best opportunity for you to sell more cars is to do more with the leads you already have.

The Importance of Having Return Customers in the Service Drive - John Fairchild | Tesla Scrambles to Raise Funds with Bond and Stock Sale | Customer Retention: They Have to Like You

Today on CBTNews.com - Tuesday, May 7th, 2019:

The Importance of Having Return Customers in the Service Drive - John Fairchild, Fixed-Ops Expert

According to Cox Automotive’s latest study, Opportunities to Build Customer Loyalty, an estimated 70 percent of consumers who purchased or leased from a dealer did not return for service in the past year. So, how can dealers increase sales in the fixed-ops department in 2019? On today’s show, Jim discusses the importance of having return customers in the service drive with fixed-ops expert and CBT contributor, John Fairchild.

Tesla Scrambles to Raise Funds with Bond and Stock Sale

Days after announcing massive losses for the previous quarter, Tesla has now announced plans to raise about $2.3 billion in new capital to increase liquidity and continue to work towards being the most prominent force in electric autos. In an investors’ call on May 2, CEO Elon Musk claimed that Tesla is going to be a $500 billion company once it rolls out self-driving technology, a feat that will require a lot of money. Musk told investors that it is currently able to fund its business expenses, but new capital is needed because it is “wise to have a buffer in case of a recession or weak global auto demand.”

Customer Retention: They Have to Like You

From dealership standpoint, customer retention for the long term is totally dependent on personal relationships with your staff. The question “Would you take your car to the dealer for a repair out of warranty?” is a moot point if the dealership has treated the customer the right way, along the way. Did the customer have a remarkable experience and close rapport with the dealership staff during their warranty experience? There are customers that want the cheapest thing always, for sure, however most customers just want a fair price and a good experience. Let’s hit on a couple points that may shed light on the issue of retention after warranty.

The Importance of Having Return Customers in the Service Drive - John Fairchild | Tesla Scrambles to Raise Funds with Bond and Stock Sale | Customer Retention: They Have to Like You

Today on CBTNews.com - Tuesday, May 7th, 2019:

The Importance of Having Return Customers in the Service Drive - John Fairchild, Fixed-Ops Expert

According to Cox Automotive’s latest study, Opportunities to Build Customer Loyalty, an estimated 70 percent of consumers who purchased or leased from a dealer did not return for service in the past year. So, how can dealers increase sales in the fixed-ops department in 2019? On today’s show, Jim discusses the importance of having return customers in the service drive with fixed-ops expert and CBT contributor, John Fairchild.

Tesla Scrambles to Raise Funds with Bond and Stock Sale

Days after announcing massive losses for the previous quarter, Tesla has now announced plans to raise about $2.3 billion in new capital to increase liquidity and continue to work towards being the most prominent force in electric autos. In an investors’ call on May 2, CEO Elon Musk claimed that Tesla is going to be a $500 billion company once it rolls out self-driving technology, a feat that will require a lot of money. Musk told investors that it is currently able to fund its business expenses, but new capital is needed because it is “wise to have a buffer in case of a recession or weak global auto demand.”

Customer Retention: They Have to Like You

From dealership standpoint, customer retention for the long term is totally dependent on personal relationships with your staff. The question “Would you take your car to the dealer for a repair out of warranty?” is a moot point if the dealership has treated the customer the right way, along the way. Did the customer have a remarkable experience and close rapport with the dealership staff during their warranty experience? There are customers that want the cheapest thing always, for sure, however most customers just want a fair price and a good experience. Let’s hit on a couple points that may shed light on the issue of retention after warranty.

As New Vehicle Prices Rise, Consumers Continue to Trend Toward Used Vehicles - Karl Brauer | Trump Threatens 25% Hike on Tariffs for China | Making Mentorship Programs that Pay Off

Today on CBTNews.com - Thursday, May 9th, 2019:

April Car Sales: As New Vehicle Prices Rise, Consumers Continue to Trend Toward Used Vehicles, But For How Long? - Karl Brauer, KBB

While U.S. auto sales softened this past April, many customers continued to flock to used car lots due to vehicle affordability issues. However, this uptick in used-car sales might not last for much longer. Here to discuss April’s winners, losers, and more of what dealers can expect in the coming months, is Karl Brauer, executive publisher for AutoTrader and Kelley Blue Book.

Trump Threatens 25% Hike on Tariffs for ChinaJust two months after deciding to hold off on implementing tariffs on China, the Trump administration has announced plans to place them on $200 billion worth of Chinese goods, including cars and auto parts. For now, Japan and the European Union are immune from auto tariffs while negotiations are being made; however, the existing tariffs on China might get raised exponentially in a few days. In regard to currently-imposed tariffs, President Trump tweeted on May 5th that “these payments are partially responsible for our great economic results.”

Making Mentorship Programs that Pay Off

A mentorship program is a valuable tool for dealerships. While training gives a new hire your standards and practices, mentoring imparts nuance. Mentors deliver the more subtle aspects of your dealership culture and can cover training material with more detail and personalization than regular training programs can. That said, many dealerships see mentoring as simply pairing veteran staff with new employees. While that paradigm might occasionally have success, it underutilizes the potential of mentoring.