NADA Convention Day 3 – Wrap Up6 min read

Another incredible day of meeting new people, catching up with old friends and hearing what industry experts have to say. Now more than halfway through the conferences, it seems everyone at the conference is feeling the effects of late nights out in town coupled with early mornings. Booths used this knowledge by offering free coffee or a free beer (its 5 o’clock somewhere, right?) while you sit down and listen to a presentation. Well played.

NADA CONVENTION DAY 3 – WRAP UP

— J.D. Power Autos (@JDPowerAutos) January 26, 2014

While loading up on caffeine was enough for some, others joked about installing moving walkways in the expo halls (we couldn’t agree more).

All jokes aside, Day 3 of NADA 2014 proved to be another day packed with new knowledge and information. This post covers some key insights on topics covered today at NADA 2014. Make sure to follow the hashtags #NADA2014 and #NADAtips for real time updates on the convention.

Key Insights

In-Store Tools

While getting potential customers into the store is an achievement in itself, dealers must still consider how potential customers’ in-store experience is like.  An increasingly important part of that experience now has to with a dealership’s mobile presence. Why? Because research shows that shoppers are using their phones more and more in the showroom.

This means that on top of the highest quality physical sales experience, dealers should also be concerned about what the consumers see on their smartphones—whether it is photos, reviews, or the competition.

Moreover, mobile search is a strong predictor of a potential buyer. Thus, make sure your online advertisement and interactions with a client take this into consideration.

Volunteering

Part of the image any dealership has is its involvement with its community, specifically the outreach programs local dealerships undertake. Volunteering or leading outreach programs says that your dealership is committed to bettering the community they are in. While dealerships’ outreach efforts should initiate organically and for the right motives, there are several positive externalities, such as free press and positive image that comes with these efforts. NADA did their share with their NADA foundation donation. Make sure you do yours.

CRM

Customer Relationship Management (or CRM) is how your company interacts with current and future customers. NADA Day 3 was buzzing with firms advertising their own CRM platform or strategies. We saw great ideas and awesome tools that all centered around one concept: CRM is now about sending your customer or potential customer the personalized attention they crave. This is a constant struggle that dealers must face—how to maintain the personal touch that is missing from online interactions. Hunter Swift explains that there has been a shift in CRM where businesses are no longer managing customers, but managing the relationship of the customer. This means treating the customer well and sending the “right message to the right person at the right time”

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