WHAT makes a really successful dealer? Just what is it that makes them win?
You can find out the answers from Nick King, insight director at Auto Trader, if you attend his workshop at CDX17, being held at Silverstone on Tuesday, May 23.
King, pictured above, is an expert in digital media and marketing, with decades of experience and know-how behind him. In demand globally, he regularly runs masterclasses and webinars, speaks at conferences and makes short films in which he evangelises about data, insight and marketing. Auto Trader is now the UK’s largest digital automotive marketplace.
As part of the GardX-sponsored Future Forum, he’ll be offering insights at CDX17 into how things have changed and how so many of us are now ‘nomophobic’ – afraid of not having a signal or wi-fi access on our phones. ‘We’re all addicted,’ he said. ‘If we can’t get access it drives us nuts. We’re also incredibly impatient, ridiculously impatient, to the extent that you have 0.2 of a second for something to load on a mobile phone before I go “Bored! Next!” which is a finger click. And if that is what we expect then that is therefore what our consumers expect too.’
Stressing the overarching importance of the digital forecourt, he said: ‘Most successful dealers today have a retailer mindset and the less successful ones are stuck as a dealer. The retailer mindset accepts that the power has shifted from the dealer to retailer because the world has changed – they accept it. They accept that we’ve gone from a low-tech world to a high-tech world. Also, sadly, profit margins have shrunk and they’ve accepted it, but what they’ve done is find new ways to increase revenue, so even though profit margins are shrinking they’re shifting more stock.
‘So what you have is a virtuous circle and a vicious circle. Those in the virtuous circle, who are the successful retailers, are more open-minded. They see data as an opportunity, they know the customer is more empowered, so they don’t have to spend so much time haggling, therefore the relationship is less adversarial.’
King added: ‘Less successful retailers won’t have adapted. They see margins being eroded and they’re not embracing digital marketing to drive traffic, relying on existing customers in their small network to keep coming back in. Brilliantly, this isn’t rocket science, what it is is a mindset. The successful retailers are more positive generally. Those who really embrace it see it as an opportunity and a challenge as opposed to a threat and they’re the ones that are going to win. What sets the best in class apart is that they take bigger leaps rather than just tinkering.’
Dealers will also be reminded how important the actual buying experience is and how much they can learn from retailers. ‘Successful retailers have embraced this idea that it’s about a fantastic experience. They focus on the customer, they embrace digital and they challenge their staff to react to this new world, to treat people amazingly,’ said King, who delivered a workshop on great expectations and today’s car retailer to a packed-out room at CDX16.
‘CDX is a great event,’ he said. ‘It’s a must-attend for car dealers because you’ll learn a lot, you’ll see a lot, you’ll network and you’ll go away taking insights that you haven’t thought of before.’
CDX is the biggest event of its type in the automotive industry and is FREE to attend for dealers. We’ve got all sorts going on: the Live Stage, the Car Dealer Theatre, the Discovery Zone, workshops and breakout sessions.
There’ll be keynote speakers from Google, Twitter, Facebook and the SMMT, as well as panels with key industry figures, including car manufacturer bosses. And we’ve got a multitude of suppliers lined up with a vast range of products and services to help you turn a profit. Not only will there be special day-only offers but there will also be innovations that are either fresh to market or in the early stages of adoption.
CDX17 will be absolutely jam-packed with ideas, services and technologies to transform your dealership. Can you really afford not to be there while your competitors gain the advantage?
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