NADA Day 4 – Wrap Up

By: Felipe Jaramillo

IMG_0836As expected, day 4 of NADA did not disappoint. While the highlight, in our opinion, was Hillary’s Keynote speech, day 4 was also filled with informative workshops and a great closing ceremony featuring NADA’s Chairman, Forrest McConnell. This post will cover some key insights from NADA 2014. For real time updates, you can follow #NADA2014 or #NADAtips on twitter.

Key Insights

Keep the Focus on the Consumer

Here at PERQ, one of our favorite quotes is by Sam Walton, founder of Wal-Mart.

“There is only one boss. The Customer. And he can fire everyone in the company from the chairman down, simply by spending his money elsewhere.” This quote offers a reminder we can all use: it’s all about the customer. All parts of your business should be optimized for the consumer and the consumer alone rather than profits or margins. The focus of social media, marketing, and even CRM should be aimed at fostering meaningful interactions that will make potential consumers loyal customers. If this concept is engrained into your dealership, profits will follow.

Hillary Clinton’s Keynote Speech

Hillary’s Keynote Speech was probably the most anticipated event in all of NADA. While she has not yet announced her decision on a presidential candidacy, it is very likely she will be the Democratic Party’s nominee for the 2016 race. Hillary’s speech covered topics across the board, ranging from her first car (a 1963 Oldsmobile Cutlass, in case you were wondering) her indecision for presidency and highlights of her political career. An engaging speaker, Hillary Clinton managed to praise dealerships for their hard work in 2013 and her optimism for the future of American car dealerships.

NADA’s Closing Remarks

Forrest McConnell, the chairman of NADA, gave a speech in the closing ceremony about the role of NADA in the automobile industry. After thanking dealers and vendors for coming out to New Orleans he began talking about NADA’s advocacy for government policy that favors the automobile industry. Claiming that government regulators simply do not understand the industry, he described NADA’s role as one of support and leadership. It is important to remember that the automobile industry generated 14% of national sales tax and, consequently, our views and preferences must be represented in government and legislation.

This is our last wrap up of NADA 2014. We thank you for reading the posts and if you are flying out of NOLA today, we recommend showing up to the airport early, taking naps after security and patting yourself on the back for all your hard work.