NADA 2016 Day Two: Putting Automotive Retail to Work
If Day One was about creating connections and expressing appreciation, Day Two concerned itself with the work of automotive retail, and how the spirit of integration is a formative part of Dealertrack products and services. During the workshops and at the booth, dealers wanted to know how it all fit together, how our promise of “innovation through integration” actually happens where it matters most: on websites, in the showroom and the F&I office. How does integration make for a more efficient process that will help sell more cars?
DMS and Old Fashioned Values
Dealers were very interested in Dealertrack DMS. They wanted to know what “high-tech, “high-touch” meant, and how a solution combined advanced technology and customer service in order to meet its broad array of operational requirements — and do so in a way that created true partnerships based on old fashioned values.
Digital Retailing and Winning the Deal
It was a similar situation across our product line. Dealers asked questions about how, and why. What does it mean when Cox Automotive Digtial Retailing expert Mike Burgiss talks about “winning the deal online” instead of just the lead? It’s a perfect example of how true integration works. From dealer website to showroom technologies and F&I product merchandising, Digital Retailing begins by establishing trust with the buyer that enables you to start the deal online, make it happen – then finish it at the showroom.
Data Security and Compliance Integration
At his workshops, Dealertrack Compliance expert Randy Henrick spoke about how the biggest financial risk facing dealerships today is a data security breach. It underscored the importance of compliance in terms of defending against fraud, and protecting against non-compliance of state and federal regulations. Whether advanced ID verification, a consistent and fully disclosed menu selling presentation – or more – compliance software works when it’s an integrated and organic part of sales operations.
Accelerated Title, and the Speed of Business
There was also lively discussion about Accelerated Title, and how its fully electronic approach reduces the industry standard timeframe for title release and vehicle payoff processing from an average of 12-18 days to 4-6 days. That’s fast, and it’s a perfect example of comprehensive integration: efficiently connecting dealers and lenders with the support of a title management solution that encompasses over 45 million titles for more than 6,800 lenders.
The Theme: Comprehensive Integration
If there was a theme on Day Two, a common thread that ran throughout the conversations, demos and interviews, it was about integration and how Dealertrack, with Dealer.com and as a part of Cox Automotive, is developing a comprehensive level of integration to best serve dealerships and create efficiencies — from online to in-store and beyond.
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