In this exclusive webinar Vanessa Ton, Senior Manager of Research and Market Intelligence at Cox Automotive, reveals the key findings from the 15th Annual Car Buyer Journey Study. Discover the latest trends in consumer behaviors and learn how to leverage these insights to boost satisfaction and drive growth. Watch now to gain actionable steps to help you implement effective strategies and stay ahead in the car-buying journey!
Streamlined operations and enhanced efficiencies will put your dealership ahead of the competition. One of the most effective ways to achieve this is by implementing a power packed Dealer Management System (DMS) built to enable flexible operational effectiveness. But what exactly does a DMS do for your dealership? Let’s highlight five ways your DMS can make your dealership run more efficiently.
A Dealer Management System is a centralized and comprehensive software suite that helps dealerships manage various aspects of their day-to-day operations — including sales, service, parts inventory management, finance and insurance (F&I), and customer relationship management.
A Dealership Management System, or DMS, can help your dealership by providing a centralized platform that integrates with other dealership systems. It enables you to track performance, make data-driven decisions, and generate insightful reports to improve efficiency and profitability. By centralizing all aspects of operations, including sales, inventory, financing, fixed operations, and customer management, a DMS allows for streamlined processes, improved efficiency, and better data analysis. This leads to increased profitability through better decision-making, enhanced customer service, and significant cost savings. Often considered the “brain” of your dealership, successful owners and managers leverage this technology to enhance their business and thrive in the following ways:
The data from your DMS can significantly enhance your sales process by providing valuable insights into sales performance, vehicle pricing, and customer targeting. When your sales team can quickly access performance metrics, generate accurate quotes, and analyze pricing strategies, they can make informed decisions that drive sales. Additionally, by targeting the right customers with tailored offers, your dealership can improve conversion rates and overall profitability. Streamlining these tasks ensures a more efficient sales workflow and a better experience for consumers.
Managing finance and insurance (F&I) processes can be complex, but a DMS simplifies these tasks by automating paperwork, calculating loan and lease options, and ensuring compliance with regulations. It also provides tools for tracking F&I performance and generating detailed reports. This not only saves time but also reduces errors and enhances customer satisfaction.
A well-run parts and inventory department can be a goldmine for your bottom line and your DMS can reduce both the time spent and headaches accumulated from managing such a complex part of your business. Your DMS can provide real-time visibility into stock levels, automate reordering processes, and track parts usage. It ensures that the right parts are always available when needed, reducing downtime and improving service efficiency. Additionally, it helps prevent overstocking and understocking, optimizing inventory costs.
Fixed Operations management is a critical aspect of any dealership, and your DMS should work with your scheduling technology to streamline this process by managing appointments and work orders and tracking service history. It provides technicians with the information they need to perform repairs efficiently and ensures that customers receive timely updates on the status of their vehicles. By improving fixed operations management, a DMS enhances customer satisfaction and loyalty.
The right DMS contributes to increased profitability by providing insights into dealership performance, identifying areas for improvement, and enabling data-driven decision-making. It helps dealerships optimize their operations, reduce costs, and maximize revenue. By leveraging the comprehensive tools and reports offered by a DMS, dealerships can achieve greater efficiency and profitability.
A DMS often integrates seamlessly with other dealership systems to create a centralized platform for managing all dealership activities. This integration allows for enhanced connectivity, enabling different departments to share information effortlessly and work in unison. By linking tools for customer relationship management, finance, inventory, and service management, a DMS helps dealerships track performance, make data-driven decisions, and generate insightful reports. The result is a more cohesive operation where each department benefits from real-time data and improved communication, ultimately leading to greater efficiency and profitability.
A Dealer Management System is designed to enhance efficiency and streamline operations. By optimizing the sales process, managing finance and insurance, handling parts and inventory, and improving service management, a DMS aims to ensure smooth dealership operations. Implementing a DMS can result in improvements in performance and customer satisfaction.
Maximize Your Dealership’s Potential with the Right DMS
Investing in the best dealer management system for your automotive business is a decision that will transform how your dealership operates. From increased efficiency to better customer satisfaction, taking the time to carefully select the right DMS will pay off in dividends.
Remember, the right technology doesn’t just help your dealership run—it helps it thrive. The right DMS technology will help your dealership stand out from the competition while maximizing your profit potential—now and in your immediate future.
Learn how to stand out and maximize profitability now and in the future when you download our latest eBook, “Find Opportunities in the Top 5 Challenges Dealerships Face Today.” Download the eBook today!
Guest Expert: Jeff Flak, Director of Sales Effectiveness at Autotrader and Kelley Blue Book, shares insights and the advantages you can gain when leverage real-time data analytics to drive smarter business decisions such as enhanced customer satisfaction, boosted profitability. You’ll hear the new ways working to effectively manage dealership operations using nVision and other dashboards that help you make smarter spend decisions.
About Our Guest:
Jeff Flak
Director of Sales Effectiveness
Autotrader and Kelley Blue Book
Key Takeaways:
Real-Time Data Utilization: Hear how dashboards and tools like nVision provide real-time analytics to help dealers make quicker, more strategic decisions and the advantages when you use them to drive actions.
Market Share Analysis: Learn the importance of analyzing market share and how it can reveal opportunities to improve performance.
Enhanced Customer Experience: Understand how using data can create a seamless and transparent buying process, leading to higher customer satisfaction and better close rates, and the ways to do this successfully.
Operational Efficiency: Explore how different roles within a dealership can leverage nVision data to manage inventory, leads, and overall dealership operations more effectively.
Accountability and Adoption: Gain insights into how to drive adoption of real-time data tools within your organization and measure success through key performance indicators.
Timestamps
0:00 – 1:00
Introduction
Jade Terreberry and Jeff Flak discuss the main topic of the podcast.
1:00 – 2:29
Guest Introduction
Jade introduces Jeff Flak, Director of Sales Effectiveness at Autotrader and Kelley Blue Book, and highlights his previous appearance on the podcast.
2:29 – 3:16
Purpose of nVision
Jeff explains the purpose of nVision and its importance in providing real-time analytics to help dealers make informed decisions.
3:16 – 4:51
Connecting the Dots with Data
Jeff discusses how looking at your real-time data and dashboards like nVision help dealers connect the dots with data and make strategic decisions.
4:51 – 7:03
Benefits of Real-Time Data
Jade and Jeff talk about the benefits of using real-time data and its impact on dealership performance.
7:03 – 8:24
Cultural Shift in Dealerships
Discussion on the cultural shift needed in dealerships to adopt real-time data tools and what actions to take.
8:24 – 11:05
Effective Use Examples of nVision Data
Jeff provides examples of how different roles in a dealership can use reporting, data and the actions it tells you to take
11:05 – 12:44
Alignment and Common Goals
Discussion on the alignment and common goals achieved through a smarter spend strategy
12:44 – 13:57
Virtual Lot Performance
Jade and Jeff discuss the importance of virtual lot performance and its impact on physical lot sales – it’s your best indicator of what will happen.
13:57 – 16:13
Enhancing Customer Experience
Jeff explains the importance of enhancing the customer experience and ways to improve close rates.
16:13 – 18:49
Driving Adoption and Measuring Success
Final discussion on driving adoption of real-time data tools and measuring success within dealerships.
Guest Expert: Vanessa Ton, Senior Manager of Research and Market Intelligence gives listeners and viewers a behind-the-scenes look at the 15th annual Car Buyer Journey Study results, highlighting key consumer trends and shifted behaviors, the growing importance of a seamless omni-channel experience, and actionable strategies for dealers to improve customer satisfaction and drive more business.
About Our Guest:
Vanessa Ton
Senior Manager of Research and Market Intelligence
Cox Automotive
Key Takeaways:
High Satisfaction with Dealership Experience: New car buyers’ satisfaction with the dealership experience has reached an all-time high of 81%, driven by improved inventory levels and smoother transitions from online to in-person interactions. But there are still things you can do to gain more market share which Jade and Vanessa discuss and map out.
Increased Shopping Time: Buyers are spending more time shopping due to increased inventory, with new buyers spending almost two hours more and used buyers spending about 30 minutes more. Despite the longer shopping time, satisfaction remains high as consumers feel empowered to research and make informed decisions. Find out the reasons why.
Omni-Channel Experience Alignment: Both new and used car buyers are increasingly conducting more of their transactions online. The key is to providing a connected omni-channel experience that allows consumers to do as much or as little online as they prefer is crucial for meeting their expectations, and this episodes outlines why and how to do this for increased sales and satisfaction.
Service Retention Opportunities: Results indicated 82% of new car buyers are likely to return to the dealership for vehicle servicing, both Jade and Vanessa map out ways to highlight your service department with a focus on building long-term relationships to drive more fixed operations revenue.
Continuous Improvement in Dealership Experience: Discussions around the practical ways Dealers can focus on continuously improving the dealership experience and providing the right tools for consumers to complete steps online before visiting the dealership to capture enhanced leads which are more likely to close.
Timestamps:
0:00 – 0:39
Introduction
Jade Terreberry introduces the podcast and the guest, Vanessa Ton, Senior Manager of Research and Market Intelligence at Cox Automotive.
0:39 – 1:45
Guest Introduction
Vanessa Ton is welcomed back to the podcast, and Jade congratulates her on the 15th anniversary of the annual Car Buyer Journey Study.
1:45 – 3:41
Significance of the 15-Year Milestone
Vanessa explains the evolution of the Car Buyer Journey Study and its importance in understanding consumer behavior and preferences in the automotive industry.
3:41 – 4:35
Key Findings Overview
Jade and Vanessa discuss the significance of the study’s findings, highlighting the stabilization in consumer behavior and the proactive steps dealers are taking to meet consumer demands.
4:35 – 7:38
First Key Finding: Shopping and Dealership Experience
Vanessa shares that the shopping experience for new car buyers is at an all-time high, with 81% satisfaction. She explains the reasons behind this, including improved inventory levels and smoother transitions from online to in-person experiences.
7:38 – 8:14
Impact on Dealers and Manufacturers
Jade emphasizes the positive impact of increased buyer satisfaction on dealers and manufacturers, highlighting the importance of meeting and exceeding consumer expectations.
8:14 – 10:31
Second Key Finding: Increased Shopping Time
Vanessa discusses how buyers are spending more time shopping due to increased inventory, with new buyers spending almost two hours more and used buyers spending about 30 minutes more. Despite the longer shopping time, satisfaction remains high due to the empowerment of consumers to research and make informed decisions.
10:31 – 14:17
Third Key Finding: Omni-Channel Experience
Vanessa explains the alignment between new and used buyers in terms of conducting more of their transactions online. She highlights the importance of providing a connected omni-channel experience that allows consumers to do as much or as little online as they prefer.
14:17 – 15:47
Fourth Key Finding: Service Retention
Vanessa shares that 82% of new buyers are likely to return to the dealership for vehicle servicing. She emphasizes the importance of introducing consumers to the service department during the sales process to build long-term relationships and drive fixed operations revenue.
15:47 – 18:15
Continuous Improvement in Dealership Experience
Vanessa advises dealers to focus on continuously improving the dealership experience by reducing wait times, lowering sales pressure, and providing the right tools for consumers to complete steps online before visiting the dealership.
18:15 – 20:35
Closing Remarks and Webinar Announcement
Jade wraps up the episode, thanking Vanessa for her insights and encouraging listeners to register for an upcoming webinar hosted by Vanessa on Automotive News.
Featured Guest: Emma Hancock, On Air Host at Automotive News live in New Orleans at the NADA Show 2025 shares her Autotrader truck “love story” in this very special Valentine’s episode reminding us at the end of the day, cars are more than just cars to their owners, or new owners in this case where Autotrader was the matchmaker!
About Our Guest:
Emma Hancock
On Air Host
Automotive News
Guest Expert: Micah Tindor, Senior Director of Strategic Planning at Kelley Blue Book Instant Cash Offer discuss the importance of consistent appraisals, the evolving consumer expectations in the automotive industry, and the latest trends in EV adoption and battery health scores, providing actionable steps on how dealers can enhance their appraisal processes, build trust with consumers, and leverage new technologies to drive profitability.
About Our Guest:
Micah Tindor
Senior Director of Strategic Planning
Kelley Blue Book Instant Cash Offer
Key Takeaways
Consistent Appraisals for Profitability: Accurate and consistent appraisals are crucial for determining profit potential. Dealers who standardize their reconditioning process and provide consumer offer certificates can win two times more cars on average.
Building Trust Through Transparency: Transparency and trust are key to meeting evolving consumer expectations. Providing clear information and a physical certificate explaining the vehicle’s value can significantly enhance consumer confidence and satisfaction.
EV Adoption and Battery Health: With 45% of consumers considering EVs, it’s essential for dealership staff to be knowledgeable about EVs, including tax credits, total cost of ownership, and charging. Accurate appraisal of EV battery health is critical for building consumer trust.
Leveraging New Technologies: Dealers can use advanced tools and technologies to ensure accurate reconditioning estimates and provide consumers with reliable information. This approach helps streamline the appraisal process and enhances the overall customer experience.
Consumer Engagement and Differentiation: Educating consumers about new tools and metrics, such as battery health scores, can drive more value and improve the dealership’s competitive edge. Providing clear and accessibl
Timestamps:
0:00 – 0:57
Introduction
Jade Terreberry introduces the podcast and the guest, Micah Tindor, Senior Director of Strategy at Kelley Blue Book Instant Cash Offer with Cox Automotive.
0:57 – 1:49
NADA Sessions Overview
Micah shares his experience at NADA, highlighting the importance of consistent appraisals and the big releases that will be game changers for dealers.
1:49 – 3:49
Consistent Appraisals
Micah discusses the importance of consistent appraisals in determining profit potential and aligning with consumer expectations. Key takeaways include understanding consumer expectations, identifying reconditioning (recon) accurately, and providing a physical certificate for vehicle value.
3:49 – 5:57
Consumer Expectations and Trust
Jade and Micah talk about the evolving consumer expectations and the importance of transparency and trust in the appraisal process. Micah emphasizes the need for dealers to provide clear information and build trust through transparency.
5:57 – 8:40
Appraisal Consistency and Profitability
Micah explains the steps dealers can take to ensure consistent and accurate appraisals, including standardizing the reconditioning process, aligning people, process, and pay, and generating consumer offer certificates. He highlights the impact on profitability, with dealers winning two times more cars on average.
8:40 – 11:10
Enhanced Appraisal Process
Micah introduces the enhanced appraisal process, which includes the consumer offer certificate and the importance of bringing the customer along the journey. He explains how the process addresses consumer needs and provides a consistent appraisal experience.
11:10 – 12:30
EV Adoption and Battery Health
Micah and Jade discuss the trends in EV adoption, the importance of understanding tax credits, total cost of ownership, and charging. Micah emphasizes the need for dealership staff to be knowledgeable about EVs and the significance of battery health in appraisals.
12:30 – 15:01
Battery Health and Consumer Confidence
Micah explains how dealers can accurately appraise an EV battery’s health and the tools or metrics they should use to provide consumers with a reliable battery health score. He highlights the importance of battery health in consumer decision-making.
15:01 – 17:15
Kelley Blue Book and Autotrader EV Advancements
Jade and Micah discuss the initiatives by Kelley Blue Book and Autotrader to address battery health, including the introduction of battery health superlatives on listings. They emphasize the importance of educating dealers and consumers about these new tools.
17:15 – 18:33
Closing Remarks
Jade wraps up the episode, thanking Micah for sharing his insights and encouraging listeners to subscribe to the podcast for more valuable content.
In today’s crowded online space, it’s never been more important to stay in front of consumers at each step of their online shopping journey. If you’re looking for ways to connect with car shoppers and help them to find and purchase a vehicle from you quickly and easily, the answer is in connected solutions.
The combined features of your Autotrader, Kelley Blue Book and Dealer.com solutions help you break through the noise to reach the right consumer, with the right message, at the right time. But how can you build on that to create more leads that close faster and boost profits?
When you integrate Accelerate My Deal across Autotrader listings and Dealer.com websites, it helps you capture purchase intent across all stages of the buying journey and deliver a personalized consumer experience. Consumer data across all sites is connected and seamless, so you can see the complete path to purchase as consumers create deals they are more likely to act on.
To build trust, it’s important to show up the same way wherever a shopper finds your dealership online. Whether they are browsing on your website or on a third-party listings site, you’ll be delivering the same payment estimates and deal-building options. Consumers can start a lead from wherever they are shopping online, and their information will carry seamlessly through each destination, increasing the likelihood of conversion to a sale.
Every year, customers express more willingness to complete steps of their deal online to save time and maximize their convenience. With the Accelerate My Deal integration, they can structure deals with real monthly payments, explore and select F&I products, schedule a test drive, complete online credit applications, and reserve a vehicle.
These solutions seamlessly integrate exclusive first-party consumer behavior data, allowing you to anticipate and deliver an individualized buying experience for any consumer, no matter how or where they’re shopping. You can target messaging and content based on what the data has shown you consumers want, driving increased ROI engagement and consumer loyalty increases.
You can customize your settings to focus on the goals and outcomes that best meet your business needs, adjusting as needed.
Ready to save time and experience higher quality leads with higher close rates that lead to higher profits? Schedule a demo today.
With your Dealer.com website, you connect with customers through personalized shopping, sales, and service experiences. From responsive, data-driven web design to best-in-class shopper insights, you have the tools to create a powerful, customized consumer experience.
One of the most powerful integrations available for Dealer.com website customers is with VinSolutions Accelerate My Deal. Connecting these systems through front-end automation brings online lead and deal information directly into the CRM and ensures that you never miss an opportunity to capture leads and engage shoppers.
Here’s what you gain by integrating Dealer.com and Accelerate My Deal:
As each shopper browses, you can follow and track their activity in a single record within the CRM. You’ll know what vehicles and options they’re looking at and what price ranges they’re considering. This information can help you increase deal personalization by providing relevant, automated offers.
Because the customer record populates automatically in the CRM, you’ll eliminate manual data entry and cut down on duplicate leads. This added efficiency helps you stay focused on closing more deals, more quickly.
Driven by first-party consumer data from 70% of all car buyers who use Cox Automotive properties for research and shopping,1 you’ll be able to leverage key shopping behaviors to predict each shopper’s purchase path. Quickly identifying and nurturing ready-to-buy shoppers helps dealers close deals up to 60% faster than with other internet leads.2
Deliver a variety of shopping experiences based on the shopper’s comfort level, switching seamlessly from digital to in-person to accommodate customer preference.
Enhanced Accelerate My Deal features are launching soon to give you even more of a competitive advantage:
To see how your dealership can use Dealer.com with VinSolutions Accelerate My Deal to close more deals, schedule a demo today.
1VinSolutions Automotive Intelligence Data predictions for 30 days prior to purchase from September 2022 – March 2023 Days from lead creation to sale comparison versus other internet leads.
2Data sourced from VinSolutions CRM dealers from Jan 2024 to Aug 2024.
Welcome to what has already been an exciting start to 2025! Twists and turns are already happening, and It’s that time of year again to take a closer look at the automotive trends and hot topics that should be on every dealer’s or OEM’s radar in order to know what you should be focused on to pave the way for a smoother road ahead this year.
With so much to digest from the astounding innovations we witnessed in the snow and frigid cold in New Orleans at The NADA Show 2025, we’ve distilled what I consider the five hot topics in automotive for 2025. From post-election impacts, to tariffs, to the ongoing EV and omnichannel buying journey for both consumers and dealers, these trends are set to shape the future of the automotive industry.
Below find not only those trends and hot topics, but a few actions we’ve outlined for dealers to take to stay a step ahead, no matter what the year ahead holds. And if it’s anything like the weather at NADA 2025… you’ll be ready to weather any storm!
The first hot topic on my list is something that has been on everyone’s mind… the post-election impact on the automotive industry. This is set to significantly influence the automotive industry. With the election chaos behind us, both consumers and dealers are ready to move forward with renewed confidence and strategic planning.
The new administration is expected to bring about several policy changes that will shape the future of the industry. Here’s what you can expect:
The new administration is anticipated to introduce critical policy changes affecting cars, emissions, tariffs, and electric vehicles (EVs). These changes will likely include:
Consumer sentiment is expected to be positive in 2025, as it often tracks higher in the year following an election. This optimism is driven by the anticipated economic stability and favorable policies that will put more money in consumers’ pockets. The University of Michigan data supports this trend, indicating a likely increase in consumer confidence
To capitalize on the post-election environment, dealers should take the following action steps:
The second hot topic has been a “hot” for both dealers and consumers alike over the past few years, so it should come as no surprise that vehicle affordability continues to be a significant concern in 2025. The ongoing challenges include rising insurance costs and the impact of natural disasters on the market.
However, it’s not all doom and gloom. There are also improvements on the horizon, such as lower rates and more loan options, which are expected to make vehicles more affordable for consumers.
One of the key factors contributing to improved vehicle affordability is the availability of lower rates and more loan options. As credit availability expands, consumers will find it easier to finance their vehicle purchases. This trend has been improving since the summer, and it is expected to continue into 2025.
Pricing pressure remains a critical issue for the automotive industry. With vehicle inventory expected to grow further in 2025, or at least not retreat, dealers must use data to price vehicles correctly. This involves understanding market trends, inventory levels, and consumer demand to set competitive prices that move inventory quickly and build trust with consumers.
To navigate the challenges and leverage the improvements in vehicle affordability, dealers should take the following recommended action steps:
My third hot topic making the list is the market forecast for new, used, and wholesale vehicles—and the outlook for 2025 is refreshingly promising. Yes, you read that right!
The automotive industry is expected to see a return to more traditional market conditions, with favorable predictions for both new and used vehicle sales. Dealers should stay closely aligned with market trends and predictions to capitalize on the opportunities that lie ahead. Even in traditional conditions, some might even label “mild” compared to previous years, there are chances to capture incremental revenue and market share.
Here’s a look at each market:
The new vehicle market is predicted to have its best year since 2019. With inventory levels normalizing and traditional incentives returning, consumers are expected to respond positively. The new vehicle market is projected to exceed 16 million units for the first time since 2019, signaling a strong recovery and growth.
The outlook for used vehicles is equally positive, with 2025 expected to be the best year since 2021. The used vehicle market has stabilized since the pandemic, and consumer satisfaction remains high. Dealers should focus on optimizing their used vehicle processes to take advantage of this favorable market environment.
The wholesale market is expected to experience tight inventory and shrinking off-lease supply, putting pressure on the Certified Pre-Owned (CPO) market. Dealers will need to dial in their acquisition, pricing, and marketing strategies to navigate these challenges effectively. Despite these pressures, the wholesale market is predicted to remain strong, providing opportunities for dealers who can adapt to the changing conditions.
To capitalize on the market forecast for 2025, the advice to dealers is to consider the following action –steps.
The journey of EVs has been filled with ups and downs over the past few years, and it shows no signs of slowing down in 2025. The fourth hot topic is for dealers and OEMs to stay informed and adaptable about EVs to navigate the evolving landscape.
With more models, hybrids, and legislative changes on the horizon, this market is poised for significant growth and transformation. Let’s look at the three factors pushing the EV journey forward:
The increase in models and hybrid options provides consumers with a wider range of choices, catering to different needs and preferences. Dealers should be prepared to educate consumers on the benefits and features of these new models to drive adoption.
Insights from China’s EV market and government policies offer valuable lessons for the US market. In China, the government has pushed for EV adoption through incentives such as immediate and cost-free license plates for EVs, compared to the lengthy and expensive process for internal combustion engine (ICE) vehicles. This has led to significant EV penetration in the market. US dealers and manufacturers should consider how similar policies and incentives could drive EV adoption domestically.
Legislative changes are expected to continue supporting the growth of the EV market. This includes potential tax incentives and regulations aimed at promoting cleaner vehicles, however there might be some roll backs or pushes forward.
Dealers should stay informed about these changes and leverage them to encourage consumers to make the switch to EVs.
To successfully navigate the ongoing EV journey, it’s highly recommended dealers take the following action steps:
The fifth hot topic trend for dealers and OEMs is consumer satisfaction and the omnichannel experience. This should come as no surprise as dealers have been hearing A LOT about the importance of creating an omnichannel experience, which allows consumers to interact with dealerships through multiple channels, both online and in-store.
This seamless integration of digital and physical touchpoints has transformed the car-buying process, making it more convenient and personalized for consumers. Here are a few reasons why:
The ability to complete more of the car-buying process online is paramount to the consumer experience. Your buyers appreciate the convenience of researching, comparing, and even purchasing vehicles from the comfort of their homes. This shift towards digital retailing has empowered consumers, giving them more control over the buying process and enhancing their overall experience.
Having more inventory available and giving consumers control over their buying journey has also contributed to higher satisfaction levels. When consumers can see a wide range of options and customize their purchase process, they feel more confident and satisfied with their decisions. This sense of control and transparency builds trust and loyalty between consumers and dealerships.
A personalized experience is crucial for consumer satisfaction. When consumers feel that their unique needs and preferences are understood and catered to, they are more likely to have a positive experience. Personalization can be achieved through tailored communication, customized offers, and attentive customer service. By providing a personalized experience, dealerships can differentiate themselves and build lasting relationships with their customers.
To further enhance consumer satisfaction and leverage the omnichannel experience, dealers should take the following action steps:
Consider this only the beginning. New technologies that benefit your dealership and your customers are always right around the corner. In fact, keeping up with new technologies is an integral part of running a successful dealership. It’s also the best way to keep from falling behind. This year, staying ahead of the curve is more important than ever, especially when we’re in for some twists and turns this year.
From post-election impacts to the ongoing EV journey, to understanding consumer wants and needs, by understanding and addressing these five hot topics and trends, you can navigate the road ahead more smoothly and successfully.
To help you with this, don’t forget that with every Autotrader listings package, you’ll gain access to nVision, an invaluable tool for dealers and their professionals. nVision provides the key reporting data, shopper behavior data, and more to ensure you have the insights and the step-by-step to make smarter and more knowledgeable market spend decisions that will truly move the needle in your business.
Autotrader provides you with qualified leads for people who want cars. We have the data that connects and activates your data, and we have the shoppers. We know what they want, and our goal is to match them with our dealer partners, driving quality leads that have the highest gross profit on average industry wide. We connect you with customers virtually, to move shoppers to you, so that you can focus on building and letting your brand shine.
Want to hear or watch more hot topics like this to stay in the know this year? Subscribe to UnJaded for the Road Forward, the hit podcast now available on Spotify and Apple and get instant access to several bonuses!
In this episode host Jade Terreberry sits down with Elizabeth Stegall, Senior Director of Client Retention at Autotrader and Kelley Blue Book. They discuss the latest strategies for maximizing return on investment (ROI) in the automotive industry, focusing on overcoming data blind spots, optimizing revenue streams, and enhancing customer lifetime value.
You’ll walk away with valuable insights and actionable advice to drive your dealership’s success in 2025 and beyond.
Key Episode Takeaways:
Overcoming Data Blind Spots: Many dealers have historically struggled with making informed spend decisions due to significant data blind spots. By adopting a holistic approach to ROI measurement, dealers can better understand and optimize their marketing spend, leading to increased market share and profitability.
Optimizing Revenue Streams: Dealers should focus on mastering market share across three key areas: traditional retailing, distance retailing, and e-commerce retailing. Understanding and aligning marketing strategies with consumer behavior in these areas can drive significant growth and efficiency.
Enhancing Customer Lifetime Value: Staying connected with both sold and unsold customers throughout their purchase and ownership journey is crucial. This approach helps lower consumer acquisition costs and improves overall profitability by fostering long-term relationships and customer loyalty.
Debunking Industry Myths: The new MythBusters series aims to cut through the noise in the automotive industry. One key myth to debunk is the misconception that customer management tools are effective marketing attribution tools. Dealers need to adopt more comprehensive data strategies to accurately measure and optimize their marketing efforts.
Leveraging Data Science and Technology: The integration of advanced data science and technology, including AI and consumer journey pathing, provides dealers with deeper insights and more effective tools to enhance their ROI and drive business success.
These episode highlights the importance of data-driven decision-making, strategic marketing, and customer-centric approaches in the evolving automotive landscape.
About Our Guest:
Elizabeth Stegall
Senior Director of Client Retention
Autotrader and Kelley Blue Book
Timestamps and Takeaways
0:00 – 0:24
Introduction
Jade Terreberry introduces the podcast and the guest, Elizabeth Stegall, Senior Director of Client Support and Sales Leadership Teams at Autotrader and Kelley Blue Book.
0:24 – 1:26
Guest Introduction
Elizabeth Stegall is welcomed back to the podcast, reminiscing about their first episode recorded at the AIS NRC Conference.
1:26 – 2:58
Challenges in Market Share and Spend Decisions
Discussion on the challenges dealers face in making good spend decisions due to faulty measurement strategies and the importance of understanding ROI.
2:58 – 4:53
Overcoming Data Blind Spots
Elizabeth explains how dealers can pivot their approach from a singular mindset of attribution to a better understanding of marketing’s impact on profitability.
4:53 – 6:56
Revenue Streams and Market Share
Jade emphasizes the importance of measuring and mastering market share across traditional retailing, distance retailing, and e-commerce retailing.
6:56 – 8:30
Consumer Behavior and Marketing Strategies
Elizabeth discusses the evolution of consumer behavior and how dealers can align their marketing strategies to meet consumer needs.
8:30 – 10:31
Evolving Consumer Journey
Jade highlights the importance of understanding the evolving consumer journey and the pitfalls of relying on a singular source for decision-making.
10:31 – 11:12
Revenue and Lifetime Value of the Customer
Elizabeth talks about the importance of staying connected with both sold and unsold customers throughout their purchase and ownership journey.
11:12 – 12:30
Customer Experience and Referrals
Jade and Elizabeth discuss the significance of creating a partnership with customers and asking for referrals to enhance customer experience and retention.
12:30 – 14:09
Myth Busting in the Automotive Industry
Introduction of the new Myth Busters series, with Elizabeth debunking the our first “myth” of data attribution
14:09 – 15:49
Data Science and Technology
Jade talks about the new data science and technology being introduced to provide better insights and improve ROI for dealerships.
15:49 – 16:30
Closing Remarks
Jade wraps up the episode, encouraging dealers to re-listen to the episode and put the insights into action, and introduces the upcoming Myth Busters series.
