Fueled by rapid digitalization and shifting consumer expectations, the automotive retail industry is constantly changing. To remain competitive, dealerships must adopt proactive strategies that address evolving customer demands. According to S&P Global Mobility’s latest Vehicle Buyer Journey Study, 65% of U.S. vehicle buyers shop online or partially online. As customers seamlessly transition between online and offline shopping, dealerships must ensure a cohesive and engaging journey, leveraging digital tools while maintaining the personal touch that makes the car buying process exceptional ..read more

As the automotive industry faces evolving challenges, one constant remains: the importance of customer experience (CX) in the service drive. With consumers holding on to their vehicles longer, dealerships have a unique opportunity to strengthen relationships and drive loyalty through exceptional service interactions. How dealerships handle these service visits is crucial to building and maintaining customer loyalty. Prioritizing Customer Experience in the Service Drive The service drive is a critical touchpoint where the in-dealership experience can significantly impact overall customer satisf ..read more

As inventory levels start to stabilize and customers hold onto their vehicles longer, the service drive holds significant opportunities for dealerships of all sizes. Automotive industry brand loyalty is hovering at 53% as of April 2024, according to S&P Global Mobility reports, signaling a major shift in consumer behavior.   Meanwhile, the cost of new vehicle ownership has surged by 30% since 2019, making it more challenging for consumers to afford new cars. As a result, the average vehicle age on the road reached a record high of 12.6 years in 2024. From proactively promoting cu ..read more

In today’s increasingly digital age, providing a seamless omnichannel retail experience is more important than ever for dealers to engage and convert buyers. Customers expect to engage with dealerships both online and in-store throughout their buying journey. To meet this demand, we are constantly evolving, looking for new ways to help dealers enhance every customer touchpoint and provide a cohesive and personalized buying experience. Building on our commitment to equip dealers with the data and insights they need to connect with the right customers at the right time and improve their operatio ..read more

Recall notices are critical in the automotive industry – and to keeping customers safe. NHTSA requires OEMs to notify registered owners of vehicles affected by recalls, but oftentimes these mailers can be plain and generic, serving as a broad announcement rather than a direct call to action. By engaging customers facing open recalls with personalized communications, dealers can help ensure customer safety and satisfaction, supporting loyalty and retention efforts – and helping pave the way for new conquest sales. Understanding the Impact of Recalls The number of vehicles with open recalls has ..read more

The dealership service drive has grown increasingly important in recent years. As customers continue to delay their purchases and dealers work to increase their profitability on new and used sales, service appointments have become a strategic touchpoint with prospective customers. When combined with the right tools and process, the insights gathered from routine service visits including vehicle mileage, condition and repair history can be used to predict which customers are preparing to return to market. This data can also be leveraged to create personalized communications that spotlight new m ..read more

In today’s competitive automotive retail market, accurate and comprehensive data is mission critical for dealers to make informed decisions and navigate complex customer buying journeys. To help dealers proactively uncover sales opportunities with a holistic view of their market, Mastermind’s comprehensive network of integrations seamlessly integrates with their existing workflows, connecting to a variety of data sources to provide actionable insights and predictions. Mastermind’s latest integration syncs customer information from Tekion, innovator of the first and fastest cloud-native automot ..read more

Over the last several years, the dealership service drive has increasingly become a critical revenue-generating department. According to NADA data, dealership service and parts sales for new and used vehicles generated $142.62 billion for all-new dealerships in 2023 – representing a more than 18% increase since 2019. The dealership service drive is not only a key revenue stream but also a pivotal point of customer engagement, offering an invaluable source of customer data. By leveraging predictive marketing technology, dealers can tap into this invaluable source of customer insights, effective ..read more

After dipping in 2020 due to the pandemic, the dealership service drive resumed its previous trajectory, growing increasingly more valuable over the last few years. At the same time, the age of vehicles on the road has steadily increased from 9.6 years in 2002 and 12.1 years in 2020, all the way to 12.5 years and older today, according to S&P Global Mobility. With customers waiting longer than ever between new vehicle purchases, refining your dealership’s service department process to generate more revenue can make a critical difference in your dealership’s bottom line. In this post, we’ll ..read more

Keeping up with manufacturer incentives is important for dealers aiming to boost their bottom line and stay ahead in a challenging automotive marketplace. As this year unfolds for auto dealerships, understanding the small details of new OEM incentives becomes increasingly critical. These incentives play a massive role in developing dealership strategies by laying the groundwork for enhancing customer experiences, driving sales and ensuring full buyer satisfaction. For dealers, navigating these diverse OEM incentive programs is essential. Exploring how these incentives work for their team, dea ..read more