All Blog Posts Tagged 'value' (66)

Cars.com’s Best Value of 2021 Award Winner, the Hyundai Venue, Gives Car Shoppers Performance and Tech Under $20,000

Win a Free 2021 Hyundai Venue: Cars.com Sets Up One Lucky Shopper for the Ride of Their Life

CHICAGO, Feb. 18, 2021 —  Leading automotive digital marketplace and solutions provider Cars.com (NYSE: CARS) names the 2021 Hyundai Venue its inaugural Best Value of 2021…

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Added by Allison Phelps on February 18, 2021 at 11:49am — No Comments

What Dark UX is and Why You Should Avoid It

For anyone unfamiliar, User Experience (UX) is a term referring to the interaction that a user has with a website, application or product. The goal of UX design is to create an easy, efficient and smooth experience for the user. A happy user is a returning user and customer retention has never been more…

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Added by Steve Southin on August 28, 2020 at 9:47am — No Comments

Weighing The Cost of a Used Car Manager's Time

Anyone not responsible for vehicle inventory management may think it an easy concept but it is a stressful and labor-intensive endeavor normally bestowed upon one person: The Used Car Manager. This individual has an encyclopedias worth of knowledge in their heads about profit/loss margins of every vehicle on the lot - a figure that can change at the…

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Added by Steve Southin on August 25, 2020 at 10:14am — No Comments

3 Biggest Benefits of Automating a Workflow

The COVID-19 Pandemic has accentuated the need for automation across most service and manufacturing industries and the automotive industry is no different. There are countless tedious repetitive, task laden manual processes within automotive sales and service that greatly benefit from automation and its best application is to make business processes…

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Added by Steve Southin on August 21, 2020 at 9:54am — No Comments

Reshaping the Landscape

The latest and greatest digital shift since COVID-19 hit has reshaped the retail landscape faster than could have been imagined. It has brought new opportunities and challenges alike. Major retailers are closing physical storefronts and investing heavily in digital platforms with very…

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Added by Steve Southin on August 18, 2020 at 9:48am — No Comments

How Automation Has Helped Businesses During a Pandemic

Automation has become a key element of digital transformation.  This shift could replace nearly 70% of manual, repetitive tasks, according to a Brookings Institute Report. Automation, in fact, has been slowly transforming the…

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Added by Steve Southin on August 14, 2020 at 9:12am — No Comments

What To Look For In An Automated Workflow Solution

From sales to finance, and IT to marketing, workflow automation can liberate almost any departments from the burden of tedious manual processes. A workflow automation process begins with a clear objective and ends at process evaluation. I have already discussed the handful of ways in which dealers are already using automation so let’s take a look at how…

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Added by Steve Southin on August 11, 2020 at 10:16am — No Comments

How a Simple Analog Device Inspired a Digital Powerhouse

Kevin Systrom, one of the co-founders of Instagram attributes the creation of the powerhouse Photo Application and social network to a particular yet simple life event. He had chosen to study in Italy his Junior year of college, and a professor had replaced the state-of-the-art modern camera he had around his neck with the iconic but ultra-simple Holga…

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Added by Steve Southin on August 7, 2020 at 9:30am — No Comments

The Super Simple Idea for Additional Sales Opportunities

Happy customers, happy sales teams, happy dealers

 

I will keep this brief, (I hear ya sayin …”YEAH RIGHT!”) in fact I will likely struggle to get in 3 or 4 paragraphs…the idea is super simple, but could be very impactful for most dealers.

As you know, margins continue to shrink in new car sales, and we…

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Added by Chip King on August 7, 2020 at 9:25am — No Comments

Automation Let’s You Fly!

One of the most popular metaphors in business is how leaders are the pilots of their organizations: in the driver's seat, handling turbulence, and getting employees and customers to their destination. This is an easy metaphor to apply to automation, especially since aviation’s adoption of automation follows a similar path as it does with the automotive…

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Added by Steve Southin on August 4, 2020 at 10:07am — No Comments

Have You Ever Considered Using Shopstreaming? You Are Probably Already Doing It

Last year, U.S. e-commerce sales generated about $365.2 billion in revenue. With the COVID-19 pandemic resulting in changing shopping habits as nonessential businesses endure mandated closures, there is more incentive than ever to invest in growing…

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Added by Steve Southin on July 31, 2020 at 9:57am — No Comments

How Automation is Already Helping Your Dealership (and Why You Should Investigate Other Ways)

Sales and service processes have been modified and fine-tuned as long as sales and services have existed. Making a product or service accessible and appealing is what drives sales. These processes include many areas where repetition comes in to play and have been mostly managed manually.  As technology has improved, the ability to automate repetitive…

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Added by Steve Southin on July 24, 2020 at 9:58am — No Comments

A Digital Retail Do-Over

Before the Covid-19 pandemic and economic crisis, dealers have been struggling to adopt and perfect digital retailing and the need has accelerated at staggering speed. Data from McKinsey & Company show…

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Added by Steve Southin on July 17, 2020 at 8:46am — No Comments

The Light at the End of the Tunnel

With Covid-19 creating a ripple effect across the socio-economic fabric of America, life as most of us know it has been disrupted, especially that of the retail customer journey which has migrated into the digital landscape. As a new normal materializes, even the more technophobic consumers have taken to digital retail platforms and applications to meet…

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Added by Steve Southin on July 14, 2020 at 9:08am — No Comments

Digital Transformation Is Happening Now

With the advancement of technology and sudden wave of consumer adoption, the automotive retail sector is experiencing a global revolution and that can only be attributed to digitization. Thanks to digital platforms and solutions, dealers have experienced many recent changes.

 

Total retail sales in the United…

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Added by Steve Southin on July 10, 2020 at 9:30am — No Comments

The Not-So-Perfect Storm Part 2

In my last blog, I discussed the many consequences that the COVID-19 virus will bring to the auto industry. That list was not all inclusive and there is a factor that I did not include that will affect sales and inventory: consumers.

 

What do I mean by that? We all know that consumers in the United States have received Stimulus checks. In…

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Added by Steve Southin on May 19, 2020 at 10:24am — No Comments

Why Your Marketing Goals are All Wrong

Most people think about marketing as a way to generate immediate ROI. For every email campaign sent out, we measure its success with metrics like open rates, click-through rates (CTRs), number of sales or ROs, or even dollars generated.

 

While it's important to expect accountability from your marketing partner, sometimes it's easy to get lost…

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Added by Courtney Evans on June 7, 2019 at 9:44am — No Comments

Retail Hazard Ahead: Vehicle Purchases Experiencing Some Delays

The good news? To date, automotive sales have remained stronger than many analysts originally predicted, with customers of all ages continuing to buy both new and pre-owned vehicles. Considering some of the earlier ominous forecasts, it’s no wonder numerous retailers are breathing a collective sigh of relief.

 

The not-quite-so-good news, at least for those…

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Added by Doug Van Sach on October 25, 2018 at 10:00am — No Comments

The Impact of Customer Lifetime Value (CLV) on Revenue

Do you know your customers’ lifetime value (CLV)? CLV defines the monetary value of your customer relationship by how much gross profit they have generated for your dealership.

 

If you divide your customer database into quintiles, you’ll discover that the top 20 percent is responsible for 79 percent of your gross profits, while the bottom 20 percent are net…

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Added by Scot Eisenfelder on September 7, 2018 at 10:06am — No Comments

An Effective Social Media Presence Takes More than Simply Posting Content

Dealerships are coming around and increasingly realize the importance of having a good social media presence. Perhaps it’s due to the reach and effectiveness of social media ads, or the ability to stay top-of-mind with customers – both existing and potential. Regardless, dealerships are shifting their focus away from traditional media towards digital and allocating more…

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Added by Paul Moran on August 23, 2018 at 10:10am — No Comments

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