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Tag: digital retail

For CDK dealers, full integration is vital for your digital retailing platform

January 21, 2021 Author: Kent Mihlbauer Category: Business

Are you on the CDK DMS platform? We all know how important it is to keep our data clean. Your CDK DMS needs to be the #1 source of clean data. When looking at digital retailing platforms as a CDK dealer, it’s vital to make sure any vendor has full…

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5 ways E-contracting increases F&I manager income

January 11, 2021 Author: Kent Mihlbauer Category: Business

First, let’s break down E-contracting into the core elements. Bank docs Proof of identity Income proof Credit history Proof of residence Ancillary product docs Rebate qualification docs DMV docs New vehicle information Trade-in information Proof of insurance Tax docs Down payment Sales tax (state, city, county by street address) All…

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Expand your sales radius by delivering customer confidence with Digital Retailing

December 16, 2020 Author: Kent Mihlbauer Category: Business

When we order from Amazon or other online retailers, we don’t even consider where it is being shipped from. We have confidence that once we approve the sale, it will show up at our door. Automotive retailing is undoubtedly different than getting the latest kitchen gadget delivered, but the consumer…

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Technology is changing cost structures (savings) in automotive retail and when ordering a beer.

December 14, 2020 Author: Kent Mihlbauer Category: Business

Truth be told, I like beer!  Usually, automotive and beer don’t mix, but just like everything in the technology age, some things apply across the board. So, the best place to get a fresh beer is at a local brewery. That’s where this idea was generated as I found myself…

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eCommerce jumps 32.4% in 2020. Did Yours?

December 7, 2020 Author: Kent Mihlbauer Category: Business

Ecommerce jumped 32.4% this year due to the Covid-19 pandemic. It was projected to “only” jump 18% until the pandemic shifted consumers’ buying habits.  Ecommerce will reach 14.4% of all retail sales in 2020 or $794.5 billion in sales. Projected growth is anticipated to slow in 2021, but customers are…

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Don’t stop your customers from buying with a bad Digital Retailing to showroom handoff

November 28, 2020 Author: Kent Mihlbauer Category: Business

Shoppers are looking for the least friction possible when shopping on your website or VDP’s. How easily and quickly can they start the buying process once the buying trigger goes off in their brain? Traditionally, dealers have just collected leads and then moved the customers to the showroom for the…

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Sync your online DR with your Showroom Sales Process

November 28, 2020 Author: Kent Mihlbauer Category: Business

When you drop the baton in a relay race, you lose. You often get the same result when the handoff between your Digital Retailing platform and your showroom is dropped. One of the most significant issues that create this dropped baton is when the Digital Retailing platform doesn’t integrate with…

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Digital Retailing allows Customers to Pre-Order Their Vehicle

November 16, 2020 Author: Kent Mihlbauer Category: Business

Do you allow customers to pre-order the hot new releases? Are customers willing to pay more for this privilege? What would happen if you allow all your customers and website visitors to “pre-order” the vehicle they desire directly from the VDP’s of your website? Suppose you think about digital retailing…

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4 ways to calculate ROI on Digital Retailing

November 3, 2020 Author: Kent Mihlbauer Category: Business

Have you ever sold a vehicle over the phone to a customer who just wants to pick up the vehicle? (or have delivered) Most dealerships have executed the “remote phone sale” process and have been able to know the exact gross of the deal. That’s what dealers want when it…

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Dealer Decision Review Makes Digital Retailing Less Scary

October 28, 2020 Author: Kent Mihlbauer Category: Business

Automotive online retailing comes with some scary issues. (Halloween post) Scary question #1 – Who approves the deal to make sure it’s profitable? Every deal needs decisioning to be cleared for the final sale. Doing an online deal with “automated” decisioning sounds super scary because the customer gets an “approved”…

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  • For CDK dealers, full integration is vital for your digital retailing platform
  • 5 ways E-contracting increases F&I manager income
  • 35% PVR increase for F&I on CreditIQ Digital Retail deals

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