Car Dealership Guy Podcast
How Car Dealers Are Cracking the "Customer Retention" Code | Brice Englert, CEO of TradePending
Dec 19, 2024
Brice Englert, CEO of TradePending, dives into the evolving world of car dealerships. He shares insights on how dealerships can retain customers amidst competition from giants like Carvana. Brice discusses innovative strategies, like using personalized videos and data-driven tools, to enhance customer loyalty. He also reveals how the industry is shifting towards digital retailing and leveraging tax refunds for down payments. His unconventional journey provides a fresh perspective on navigating today's automotive landscape.
42:23
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Quick takeaways
- Car dealerships must strategically utilize online platforms to capture consumer attention amid fierce competition from major players like Carvana.
- Implementing data-driven tools and personalized communication can enhance customer engagement and strengthen retention strategies in the automotive market.
Deep dives
Competition in the Automotive Market
Dealerships are facing intense competition from major players like CarMax and Carvana, along with independent dealers and franchise operations. This competitive landscape requires dealerships to effectively capture consumer impressions through various online portals such as CarGurus, Cars.com, and AutoTrader. These platforms constantly seek to maximize their traffic and brand exposure, creating a virtual battleground for consumer attention. As a result, dealerships must be strategic in their marketing to ensure they stand out in this crowded market.
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