Part 2: Big Data, good ideas and customer focus
Following the Canada Day session on October 12, the 2014 DrivingSales Executive Summit (DSES) officially got under way. The first keynote of the day, focused on big data and why dealers need to not only understand it but also how to really harness it to build better relationships with their customers, instead of relying on third party sources. Professor Florian Zettlemeyer, from the Kellogg School of Management delivered an in-depth and thought provoking presentation.
Best idea contest is always a popular feature at DSES
One aspect of the DrivingSales Executive Summit that always draws a crowd, is the Best Idea Contest. Designed to uncover the most innovative strategies implemented at a dealership, this year’s contest drew a wide variety of different concepts, including, Free Gas Friday (offering dealer customers a fuel incentive), How to Monetize your Digital Assets (a concept that many dealerships are still trying to figure out), MyRide YYC, a Vehicle Xchange Program (designed
to drive customer loyalty and boost sales through a dealership’s service drive) and the YouTube Postal Service (a strategy designed to focus on the needs and wants of Generation Y). Each of the submissions was delivered by a representative of a dealership or dealer group, with a team of panelists providing the final say. The winners will be revealed in our next installment covering this year’s DrivingSales Executive Summit on October 14.
Breakout sessions are a key part of the DrivingSales Executive Summit, allowing attendees to gain knowledge regarding a whole host of topics related to automotive retailing. Among the eight workshops provided on the Sunday session, Canadian auto dealer attended one entitled Dealer Operations on CRM Integration and Rollout.
How will you use it?
Hosted by Cameron Darby, Chief Operating Officer at DealerSocket, it focused on not only the importance of integration from a technology standpoint but the human aspect and why it’s not only important what you purchase but how you implement it. Darby said that too often the focus is on purchasing software at the right price and not enough figuring out how it will actually impact the dealership at an operational level. He also said that dealership staff need to buy into the process and they can only do that by feeling involved and part of the store’s strategy.
Fireside chat (left to right) Jared Hamilton, Mitch Golub and Jonathan Ord
DSES always includes Fireside Chat Sessions and this year, the Sunday session saw DrivingSales CEO Jared Hamilton, talk with DealerSocket CEO Jonathan Ord and Cars.com President Mitch Golub.
The session focused on the evolution of both companies to the present day and where they see the business heading in the future. It was quite eye opening in many respects, since Cars.com has grown to become one of the premier third party vehicle listing and review sites in the U.S., despite the challenges facing many consumer facing media businesses over the last decade and a change in ownership structure.
DealerSocket, founded in 2000 by Ord and Brad Perry has grown to become one of the most prominent dealership CRM providers in North America and with a fresh injection of capital, is further strengthening its position in the marketplace, as well as introducing new and updated tools designed to enhance both the customer experience and business of the dealers it partners with.
The final keynote session of the day, came from Brian Solis, Principal of the Altimeter Group in Silicon Valley, California. Solis talked about the need for us to embrace innovation and change and that it comes from within us, not technology.
“The future is unwritten,” he said “and we are not going to get there by thinking technology is the solution.” Solis talked about the need to create a new model in the way things are done, rendering the previous model obsolete.
Brian Solis
He encouraged dealers to question everything and to think outside the box. He said big data is just the beginning and that moving forward, business in general will become even more customer centric. Not only that but it will be those organizations that are able to truly understand the needs of their customers, those that can really deliver an impactful and human experience, who will be the ones that ultimately succeed in this brave new, digital world.
Look for additional DSES 2014 coverage in the November/December issue of Canadian auto dealer magazine
For more DSES related content click here: http://canadianautodealer.ca/?s=DrivingSales+Executive+Summit
