The New Sales Evolution - Are You Prepared?

Written by: Marie-Eve Boucher and Henry Ninaber, iA Dealer Services - Centre of Excellence

We are experiencing a new evolution in how we deal with and offer products to consumers. Their preferences and behaviours are evolving rapidly, with the ability to conduct thorough research online, electronically sign documents, and purchase products with customized delivery options at the click of a button. As a dealer, it is crucial to stay ahead of the curve and anticipate the impact of digital technology on your operations.

Not only are consumers more prepared when making a purchase decision, but regulators are also becoming increasingly involved in dictating how products are presented and offered to consumers. As the consumer interaction process continues to evolve, it is critical to anticipate and adapt to these changes.

It must start with a proactive understanding of the potential impact of these changes on our current models. We will need to consider how to adjust accordingly. How is new digital technology going to affect how we operate? What do we currently have in place? And, more importantly, where do we think it is going? Do we also have a backup plan should something unexpected occur??

It is essential to examine the influence of digital technology on our operations, assess our existing resources, and forecast future trends. Additionally, having contingency plans in place for unforeseen events is crucial.

Management should initiate meetings with all decision-makers within the organization to discuss new ideas on how to evolve. The following points should be addressed:

-????????? How are we currently offering programs, and what changes will be required with the new evolution of program sales?

-????????? Are we taking advantage of all technologies available to communicate with consumers, such as e-mails, text messages, videos, etc.?

-????????? Have we researched and explored the possibility of using AI within our dealership?

-????????? Are we fully compliant with provincial regulations on privacy legislation and the fair treatment of customers?

By addressing these issues and staying ahead of the curve, you can position your dealership to navigate the evolving consumer market and enhance your approach in aligning with regulations and technological advancements.

At iA Dealer Services, we understand dealers' challenges and offer training programs to help you and your financial service manager adapt to these changes.

As industry leaders, we continuously strive to remain competitive and compliant by prioritizing the needs of our customers. Within the past few years, we have aligned our training to emphasize privacy requirements, the importance of Fair Treatment of Customers, and to ensure compliance with regulators in each province.

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Please contact our team at [email protected] if you are interested in our training programs to prepare for the future. We are here to support you in evolving with the changing sales landscape and consumer preferences.

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