Letter From The CEO: Make Way for the NADA Recap!

If you're just getting back from NADA in Las Vegas, we hope you had a great trip. We sure did.?

Here’s a few themes that stood out to me as I reflect on our experience at the show.?

A New Era for DealerBuilt

At this year's NADA, DealerBuilt showcased a fresh identity, a broader product suite, and a new tagline: "Make Way For YOUR WAY." Those words are a summation of the strategy that led us to acquire iService, Oplogic, and VistaDash. It's also the same strategy that drives our product roadmap today. We want to help dealers consolidate their technology and get them closer to a single, unified customer record. Both of these goals have very real benefits.?

Let’s talk about the value of consolidation first. Consolidation is all about simplicity and efficiency. We’ve heard the concept of "one throat to choke'' resonate in an industry tired of the blame game between multiple technology vendors. Dealers are sick of trouble-shooting problems with separate companies who can't agree on "what happened" when a system goes down. They're sick of switching screens, policing data pushes, and worrying about when the next API will go on the fritz. They're tired of the redundancies, the extra clicks, and the need for constant data re-entry. They're sick of all the speed bumps in the way of doing their day jobs. Consolidating your technology gets those speed bumps out of the way and makes the technology that your dealership runs on more manageable, more user-friendly, and more of a tool that moves your business forward - instead of one that holds you back.?

And what’s so valuable about a single customer record? Well, consider a customer who spends hundreds of thousands of dollars over a number of years with one dealer. When you have fragmented customer data, that dealer runs the risk of failing to recognize or acknowledge that customer’s value. That could show up in how you greet them, how you service them, or the concessions you’re willing to make in the sales or service process. And that missed opportunity could mean the difference between capturing another few hundred thousand dollars in value over the next few years - or nudging them towards taking their business to another dealership.?

Celebrating Our Team's Success

A big tradeshow like NADA doesn’t just happen. It takes a lot of prep. And I’m so proud of how our team showed up - before, during, and after the show. The DealerBuilt team's ability to make each customer feel valued, tailoring demonstrations to individual needs rather than overwhelming them with generic pitches, was fun to see. This personal touch and the consistent extra effort we put into digging into what dealers are going through was definitely on display. And as I watched our booth on Saturday afternoon, I couldn’t help but add up all the dealership experience we have on our team - literally hundreds of years, by my count. This is a group that doesn’t just listen to our customers - we empathize with them. That empathy comes from the firsthand knowledge that we value and that we hire for. If you’ve never worked in a dealership, it’s very hard to imagine what it’s like and what problems matter the most. We don’t have to imagine, because our people have been there. That gives me confidence. It keeps me honest as CEO. And it makes me feel good.?

Getting to observe all this in-person, on such an important stage, provided the boost I needed as we kick off what promises to be an exciting year. A big thank you goes out to my team. I'm proud of what you showed me this past weekend, and excited about all we have yet to do in 2024.?

What’s Next With AI??

No surprise: AI was a hot topic at NADA. And while AI showed up in many of the presentations we listened in on, we came away believing that the most promising short-term applications of AI will be the basic ones. Automating and enhancing everyday customer communication seems like the low-hanging fruit. Engaging with customers promptly and feeding them the basic information they need (e.g., scheduling service visits, fetching vehicle details, and responding to other informational requests) will soon be possible without human intervention. We’re already experimenting with how to apply AI inside our technology, and look forward to previewing some of that functionality later this year.?

A Future Shaped by Dealer Needs

Walking the floor at NADA can quickly put anyone into sensory overload. The floor was full of expensive booths, giant screens, custom videos, and slick-looking, superficial demos, all displayed in hopes of luring prospective customers in and creating a memorable impression. But as I contrast what I felt walking the floor and what I heard talking to dealers, I have never been more sure that DealerBuilt is on the right track.??

Here's what I heard. Dealers are thirsty for substance over style. They're seeking genuine solutions amidst a sea of superficial "all show, no go" demonstrations. And they want proof that the people behind their technology understand both how their business works and how they can help make it better.?

Which brings us back to that marketing slogan I mentioned: "Make Way For YOUR WAY." It isn't just a tagline. It's a testament to our unwavering commitment to flexibility and to a dealer-first ethos that cuts through the noise - especially important in a market where dealers continue to tell us they feel boxed in by the solutions they've chosen.

So as I look ahead to what's to come in 2024, here's what you can expect from the DealerBuilt team: We're going to keep building the technology that dealers tell us they need and the features they value - not the stuff that shows well at a trade show.?

The future is bright, and we're just getting started.?

Looking forward to spending more time with you, our customers, in 2024.

Thanks for your support.