Insights & Inspiration: ASOTU CON 2024
automotiveMastermind Inc.
Automotive's Trusted Data and Technology Provider
As we look back on all of the excitement and successes from May, ASOTU CON 2024 is an industry event we won't soon forget. Our team traveled to Baltimore for a few days jam-packed with insights, trends and tactics for forward-thinking leaders in the automotive retail space.
Our Strategic Development Manager Anthony Barone took the stage twice – first for the Pitch Tank competition, followed by a panel discussion on proven strategies to deliver relevant content to the right audience. Throughout the panel discussion he emphasized the return dealers would see from taking a more targeted approach with their customer communications:
Don't think of your loyalty portfolio as a big, holistic view. It's all about the segments within there – a loyal customer who doesn't service with you is different from a loyal customer who does service with you. Someone who is in a lease that's expiring in three months is different from a person that's in a finance and four to five years out from their next purchase. You will find the most success with hyper-targeted, personalized and proactive marketing. This allows you to spend less and be much more effective.
In addition to making new connections, we saw plenty of familiar faces up on stage sharing their advice to help dealership teams grow and succeed. Mike Cavanaugh, Regional VP of Lithia and Driveway, engaged in a fireside chat with David Spisak on how high level leaders develop better leaders.
He emphasized the importance of identifying and nurturing potential leaders within your team and creating a culture that promotes continuous leadership development and succession planning.
Mike also weighed in on one of the biggest focus areas for his teams: the service drive. He left the audience with this question:
What does it look like when you put more time, effort, energy and focus into running a successful service department?
(Keep scrolling for our tips to fueling service success. ??)
Team Mastermind's Takeaways
Our Strategic Solutions Manager Susanna Cunningham appreciated the structure of the event and having the opportunity to connect and take in new perspectives.
ASOTU CON is a people-to-people style convention that does not have the same ‘hard pitch’ focus as larger shows such as NADA Show. This event was more intimate in nature and fulfilling in content. It was easy to remember faces and names plus have conversational recaps over breakfast the next morning. I have been in the automotive space for 20 years, on the retail side and as a partner for dealers, and still took several pages of notes and ideas from the panel discussions.
Our Product Manager Danny Veliz valued the modern approach and left feeling inspired.
I've been to several conferences throughout my career in automotive and have yet to experience one as progressive and forward thinking as ASOTU CON. The thought leaders that were present – both contributors and attendees – were impressive. I listened in on several sessions and walked away from all of them either learning something new or with a new idea that I could take back to my team.
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Did you attend ASOTU CON? We'd love to hear your takeaways! Leave a comment on this newsletter post or connect directly with our Masterminds on LinkedIn.
Dealership Checklist: Uniting Sales and Service
While every dealership will have a slightly different strategy or approach, breaking down departmental barriers to promote a consistently excellent customer experience is critical to the success of any dealer’s service-to-sales process.
A well-managed process starts with support from the top-down, staffed by the right team. Explore four tips for getting started in our latest whitepaper, which dives into these priorities:
Crack the Code on Unlocking Profitability by Working the Service Drive
If you're ready to start investing in your service-to-sales processes to unlock more revenue for your dealership, look no further! ??
From proactively promoting customer retention to staying ahead of customer defection, effectively working the service drive can support numerous dealership revenue streams. However, to truly maximize this growing opportunity, dealers must have a data-driven approach to identifying and engaging the right customers – not only those who need service but also those who present a strong inventory acquisition or future sale opportunity.
?? Register for our upcoming webinar on June 20. ?? You'll walk away with: