Lotlinx, Inc.’s Post

Price and promotion go hand in hand. Lotlinx offers unparalleled visibility into the interplay between them so you can be as efficient with your inventory management as possible.

Don't buy the myths surrounding price markdowns. Use my latest piece in #AutoRemarketing to reevaluate your pricing strategy.

According to the latest Pied Piper Internet Lead Effectiveness Study (read it here: https://lnkd.in/eKdij3BF), auto dealerships are significantly improving their response times and quality in handling online customer enquiries. Key highlights: 💬 34% of dealerships scored above 80, showcasing quick and thorough personal responses. 📈 Industrywide average performance increased by four points to reach a score of 62, the highest in the study's 14-year history! 🏆 Infiniti dealerships ranked highest, followed by Volkswagen, Cadillac, Subaru, and Polestar. Fran O'Hagan, President & CEO of Pied Piper, notes the significant impact of improved dealer responses, directly influencing customer store visits. Dealerships are adapting to the evolving market, prioritizing customer engagement over automated responses. It's a positive shift towards enhancing customer experiences in the automotive sector. 🌟 Wondering how you can improve your response times? We can help! Get started here: https://lnkd.in/euR9RUCr #AutomotiveIndustry #CustomerExperience #DigitalTransformation

🚗 Dealers: Are you keeping up with today’s car buyer expectations? We just published a post covering the 5 most important stats you need to know about customer experience, digital retailing, and sales—and how WebBuy can help you meet (and exceed) those expectations. 📊 Spoiler: 46% of car buyers would switch dealers for a better experience. Are you making sure they switch to YOU? Check out the full post here 👇 [Link to Blog] #AutomotiveIndustry #DigitalRetailing #CarSales #CustomerExperience #WebBuy #AutoDealers The 5 Most Important Stats Dealers Need to Know https://hubs.la/Q02QS74b0

Dealerships that keep their customers satisfied are the ones that will ultimately thrive. 🌱 Read on for tips to align consumer expectations early on and how Market Scan's mDesking solution can help your dealership build loyalty and keep customers happy long term. https://lnkd.in/guHzrEkE #DataActivation #AutomotiveIndustry #AutoDealers #AutoRetail"

Since 2021, the #automotiveretail industry has been a roller coaster ride. 🎢 With new customer expectations, it's crucial for dealerships to prioritize transparency if they want to continue to increase profits in this new era of the #automotiveindustry. Explore our recent blog post to learn how prioritizing transparency in vehicle payment calculations and aligning with consumer expectations early on can increase profits and build customer loyalty.

Car shoppers and service customers love a good deal. Right? But mentions of price only show up in 4.4% of positive reviews. It seems price does not drive customers to leave positive reviews. However, price shows up in 20.7% of negative reviews. That’s 4.7x more often. When we look at the data, we find that the sales department is more often related to positive reviews and the service department more negative. And honestly, who likes to get their vehicle serviced, especially for non-routine maintenance? Certainly a more difficult starting point for the store, in terms of creating a great customer experience. Using that reality as a starting point, we can better assess what these numbers mean. The average cost of a new vehicle is near a record high - $48,451 - up 61% since 2012, according to Cox Automotive Inc. Despite this, the wealth of transparent sales pricing information online has helped today’s car shopper show up to the lot ready to pay that $48k. They’re prepared, meaning when all goes to plan, price is unlikely to appear in a review. Our voice of the customer research indicates that most of the negativity in reviews stems from misaligned *expectations and communication* - particularly in service. Service pricing is often unique to each scenario and, therefore, not always understood beforehand. Surprise is why pricing shows up in negative reviews. 4.7x more often then positive reviews. Helping the service customer develop some realistic expectations of pricing before they pull into the drive would go a long way toward creating a better customer experience. #voiceofthecustomer #automotive #trustmarketing

What's the biggest opportunity or challenge on your mind for the new year? Dealership teams will be faced with unprecedented road blocks like changing customer buying behaviors and product mixes to an aging fleet and growingly complex customer journeys – but proactive dealers will see these as true opportunities for sustainable success. 🏆🙌 Explore these tips to crack the code on future-proofing your dealership in 2024 and beyond. ➡️ https://lnkd.in/gvXsUVeU #Dealerships #AutoDealers #AutomotiveIndustry

This Forbes article addresses the evolving landscape of the car dealership industry, highlighting the significant shift from a seller's market to a buyer's market. It emphasizes strategies for dealerships to navigate this change, such as adopting a value-centric sales approach, enhancing financial flexibility, and leveraging digital transformation. These strategies are aimed at aligning with customer preferences and embracing technological advancements. Additionally, the article discusses the importance of operational excellence and cost efficiency, alongside strengthening customer relationships through personalized experiences and robust customer relationship management systems. #CarDealershipTrends #BuyersMarket #ValueCentricSales

What's the biggest opportunity or challenge on your mind for the new year? Dealership teams will be faced with unprecedented road blocks like changing customer buying behaviors and product mixes to an aging fleet and growingly complex customer journeys – but proactive dealers will see these as true opportunities for sustainable success. 🏆🙌 Explore these tips to crack the code on future-proofing your dealership in 2024 and beyond. ➡️ https://lnkd.in/guHNtKic #Dealerships #AutoDealers #AutomotiveIndustry