Locations Salon B

Perpetual Search, next gen search marketing

New technology, privacy, and consumer click fatigue are catalysts for advancements in search marketing and consumer engagement. Perpetual Search is the next generation of search technology enabling consumers to connect continuously with dealer inventory and sales teams. No longer does the consumer and a vehicle of choice have to be on the dealer website at the same time. A critical feature during an inventory shortage. Further, perpetual search is less costly and pricing is static creating a more predictable ROI. Finally, perpetual search technology can be deployed anywhere online, even offline as a QR code deployed on vehicle windows or elsewhere thus activating new prospects anywhere, anytime.

Key Takeaways:

  • Why SEM and PPC are impacted by new privacy and technology development.
  • How Perpetual Search comes to the rescue and revitalizes advertising effectiveness
  • What is Perpetual Search and how it changes the rules and norms of digital marketing.

25 Ways to Increase Your Website Leads & Sales Without Spending a Penny More on Marketing

Most dealerships we talk to want to increase leads from their website, but they think the only way to increase their leads is to spend more on marketing. They think they have a website traffic problem when they really have a website conversion problem (leakage in the funnel). In this session, you will discover mobile internet usage trends that your current website provider is not sharing with you and how a mobile-first website user experience (UX/UI) can instantly increase your leads and sales without spending a penny more on marketing. Lyamen will share 25 side-by-side visuals comparing mobile-first versus mobile-responsive websites, tried-and-true best practices from other industries, and case studies on how other dealerships addressed these same mobile usability issues and immediately had record-breaking sales month.

Key Takeaways: 

  • Why consumers are leaving your dealership website and going to 3rd party marketplace websites like CarGurus and AutoTrader
  • #1 thing that influences consumers’ decision to buy a car from your dealership
  • 25 side-by-side visual examples of mobile user experience (UX) best practices (UX)

Using Data To Predict Subprime Auto Performance

Explore how data science is utilized to help the auto industry better predict the performance of subprime auto loans. This underserved, underbanked, and previously considered risky segment is quickly becoming a viable asset class. What does this mean for the future of subprime? Chad Stilwell will answer questions about how data and analytics can be used to better understand and improve portfolio performance and more. Chad has played a key role in many of the industry’s firsts such as crowdsourced securitizations, launching a line of credit with a reducing interest rate, and developing a technology platform that provides a book value for subprime auto loans. New approaches are under consideration every day to fuel growth, provide access to knowledge, and the freedom to do so.

Key Takeaways:

  • Define data science and how analytics are applied to the auto industry to make better business decisions.
  • Demystify subprime auto finance to open this new and viable market segment.
  • Highlight why these changes are transformative for the auto industry and how they impact lenders, dealers, and consumers.

Data + Leadership = Successful Change

The amount of data available in the world is expected to double by the end of 2024. The vast amount of data available will provide new challenges to the way we conduct business. During this workshop, we are going to talk about leadership in the data-driven world in which we live and work. Due to the vast quantity of data, there must be an organizational shift to incorporate data processes into the entire organization, not just the IT department. Yes, data is computer science and some may even say it is rocket science, but it doesn’t have to be that way. Using tools most employees currently have on their desktop PCs, most anyone can produce data and data analysis. And last, we will discuss how to keep computers from overtaking the human aspect of work.

Key Takeaways:

  • Data is no longer the job of the CIO or IT department. Everyone should think critically about the data they collect and how they use it. Making sure that everyone in the room is involved in the process of making AI is the only way that we can make sure it’s safe.
  • Data is not rocket science. Most data problems can be solved by your current employees. Ordinary people and managers who haven’t had a lot of training can use simple tools like Microsoft Excel to make powerful analyses. Find out what your business needs to do and then figure out how to do it.
  • Having a lot of data is great, but it isn’t the same as talking to your employees and customers. A lot of big data and analytics are used too much by many businesses when they are looking for strategic ideas. And, waiting too long to make decisions can slow down businesses, frustrate employees, and make them miss out on important opportunities. It’s sometimes better to just make a decision rather than get more information or think about it more.

Perpetual Search, Next Gen Search Marketing

New technology, privacy, and consumer click fatigue are catalysts for advancements in search marketing and consumer engagement. Perpetual Search is the next generation of search technology enabling consumers to connect continuously with dealer inventory and sales teams. No longer does the consumer and a vehicle of choice have to be on the dealer website at the same time. A critical feature during an inventory shortage. Further, perpetual search is less costly and pricing is static creating a more predictable ROI. Finally, perpetual search technology can be deployed anywhere online, even offline as a QR code deployed on vehicle windows or elsewhere thus activating new prospects anywhere, anytime.

Key Takeaways:

  • Why SEM and PPC are impacted by new privacy and technology development.
  • How Perpetual Search comes to the rescue and revitalizes advertising effectiveness
  • What is Perpetual Search and how it changes the rules and norms of digital marketing.

7 Lessons from 5000 Electric Vehicles

Adapted from a popular session at Used Car Week: Used electric cars are different. Their most valuable part — the battery — is literally a black box. Over the last year, I have studied 7000 used EVs as they were bought and sold and driven around the US.

This session is a deep dive into all of the lessons I have learned and what remarketers and retailers need to know about used electric cars to be successful. If the EPA estimated range is wrong on day 1 and odometers are not the leading indicator of vehicle value, what is?
Join me to uncover the most important factors of used EV sales.

Key Takeaways:

  • A system for evaluating the sticker prices and battery health of used electric cars
  • A collection of data and language to build confidence around used electric cars
  • A list of common EV pitfalls and how to avoid them in the upcoming year

2021 In Review: Fraud Losses Reach New Heights

Auto loan fraud in the United States is a significant problem that continues to grow at a rapid rate. In 2021, Point Predictive estimated that $7.7 billion in car sales would be financed with loans containing falsification on applications, from employment and income misrepresentation to identity and synthetic fraud that would result in a default. The $7.7 billion in losses is the highest estimated loss exposure that the industry has ever faced – a number that has nearly doubled – since Point Predictive began tracking auto loan fraud in 2013. In this presentation, we will share an analysis based on our consortium data to discuss the top auto fraud trends in 2021, forecast the tactics we expect to see from fraudsters in the coming year, and explore ways lenders can reduce losses.

Key Takeaways:

Most lenders focus their fraud risk management efforts on identity-related fraud losses since these traditional third party frauds are easy-to-identify and default at a higher rate. Yet in 2020, this fraud only accounted for roughly 20 percent of U.S. auto fraud losses, meaning 80 percent of fraud losses likely resulted from challenging-to-detect first party frauds.

In this presentation, we will share:

  • Geographic hotspots for auto lending application fraud.
  • The top trends we saw fraudsters utilizing throughout 2021 will continue to be lender’s primary pain points in 2022: income, employment, straw borrower, and synthetic identity fraud as well as credit washing.

Value Drivers in M&A and How to Compete in 2022

There has been a flurry of mergers and acquisitions for dealerships and service providers. M&A activity was at a record high level in 2021. An estimated 350 dealerships changed ownership, over 550 AutoTech companies were funded or acquired, and M&A continued its rapid pace in the F&I sector. Notably, these companies are trading at record valuations.

What will drive value in 2022? High margins, scalability, and reputation are critical factors. Companies that embrace technology and digitization in operations and marketing have higher margins, can scale quickly, and have a better customer experience, leading to higher valuations when they sell. Gina Cocking will explore the drivers of value in M&A in this sector and what companies can do now to prepare for a transaction in the future.

Key Takeaways:

  • M&A activity will continue at record levels
  • To be in the top tier of companies today, you must embrace technology and digitization to reach potential customers and enhance the customer experience
  • In the sale of a company, differentiation resulting from technology and digitization drives value

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