Digital transformation has changed the way automotive dealerships conduct business. The product-centric model is obsolete- having been replaced by a customer-centric sales model. From the service drive to the front office, digital transformation has improved efficiencies, scaled operations, and managed facilities. Why are dealers waiting?
This week AutoFi’s engineering team held their semi-annual Hackathon ‘19. Over twenty engineers conceptualized an array of team-sourced projects that broaden customer success on the AutoFi platform. If you’ve never witnessed a hackathon or codefest, it’s pretty amazing. Check out what our engineers are up to …
The buyer’s experience is a critical component of any retail experience; by 2020, it will surpass product and price as a vital consideration of purchase. Buying anything, particularly a big-ticket item like a car is an emotional experience. Human beings are emotional creatures.
In today’s world, people are finding themselves busier than ever before. In some ways, technology has made our lives more comfortable, and everyday tasks that used to take hours now happen within a fraction of the time. As technology has made parts of our lives faster and easier, we’ve responded by filling our time with more and more activities.
Selling ancillary products is paramount to dealership profitability. Driving results in the F&I department has become central to the modern dealership strategy. The importance of F&I earnings increases as front-end margins compress, interest rates rise, and SAAR cools. With the adoption of digital retail, F&I is moving upstream in the customer buying process.
Jack Madden Ford, the 3rd largest volume dealer in the region, set out to change the way customers view the car buying experience. As a result, they convert more leads and sell more cars. They have happier customers.
Businesses all over the world are adopting digital retailing. Today, the digital retail space in Canada is on fire. Technology has allowed retailers to implement automation and customer-focused applications that make buying products and services accessible and convenient.
One such example of digital retailing growth is the launch of AutoFi, an end-to-end retail solution for car dealers with real-time lender offers.
Over the past few months, you may have heard the digital retailing buzz. Some dealers wonder if it will impact F&I profits. In a recent article published in F&I and Showroom’s online magazine, Nick Waddell, general manager of Central Florida’s Peterson Toyota of Sarasota, believes that dealers succeed by creating a “measurable difference” in customer experience. Nick has been in the automotive business for nearly 25-years primarily under the Toyota brand. Having a background as a finance director, he became a general sales manager, setting monthly records and mentions the mentorship of great GM’s at Toyota.
The automobile industry has historically used traditional marketing methods such as TV advertising, print or blow up gorillas on rooftops. However, in the current digital age, the auto brands cannot afford to invest in traditional media marketing alone, it has to go digital too.
Getting consumers to your showroom instead of the competitors is always challenging. With resources devoted to sales, service, and administration it’s hard to allocate time and personnel to Social Media. It’s certainly hard to measure ROI without link tagging and Google Analytics setup. The only catch with shorting Social Media activities is that’s where your customers are. Social media isn’t necessarily hard, but you need a plan. Digital Dealership Tips are meant to give you quick “snackable” tips that can be applied right away.
Over the last few years, we’ve been hard at work developing an end-to-end commerce solution. You may have heard the term ‘digital retailing’. There are many meanings floating around. It could be a confusing term. Let’s unpack what it really means. At AutoFi, digital retailing means a platform that can transact with customers, in real-time.