What’s Going to Be Bothering, Bugging and Bewildering You in 2014?

Ten Developments that are likely to impact what happens to the Automotive Channel & to you in 2014:

  1. 2014Bitcoin: Sometime in 2014, your dealership — or one across town — will get paid for a new car by a consumer (or a company ) using this new currency.
  2. Not Trying Hard Enough: Look for people like billionaire Peter Thiel (Facebook) telling us that we can fix all problems if we try hard enough – that whatever confronts us is “eminently curable.”
  3. Data Brokers:  Look for extensive action by Congress, The Feds, and Data companies to become embroiled in a debate and subsequent legislation about protecting consumer privacy.
  4. Mobile Ads: Here come the ads on your phone – with the same frequency and annoyance as TV  commercials.  Your dealership will soon be allocating as much as 20% of the dealership’s ad budget to mobility advertisements. Facebook and advertisers are convinced that consumers will just put up with the volume and intrusion of ads on a cell phone, what do you think?
  5. Cybersecurity:  Stand by – your dealership’s site and your systems providers will probably be hacked in 2014.  We as an industry have not been concerned or talked about this threat in 2013.
  6. Big Data:  The way that your dealership gains leads in the next two years will change immensely when it comes to format, sourcing, and the delivery process of such leads. You are going to “buy” leads that will enable you to almost immediately write up the sales contract and deliver the car in less than an hour.  Say goodbye to the Sales Funnel as Big Data companies match up all the behavioral and financial information about consumers coming to your dealership to buy a car – telling you exactly what a specific prospect wants, and if they are ready to buy.
  7. Social Media: Twitter will become more important to your dealership in the next year as you and your systems providers learn how to “feed” tweets and then “harvest” workable leads from responses and streams of twitterings. Facebook seems to be for your weekends and friends.
  8. Dealer Systems and Support Companies: Eventually, your dealership will have ONE major provider as consolidation and acquisitions keep happening.  In December, DealerTrack bought Dealer.com and more such consolidations will come in the next two years.  Small systems companies will either have to sell or partner with as few as 5 major vendor companies, or go out of business.
  9. Purposeful Dealer Marketing:  If your dealership does not already have a Marketing Manager who is directly and orchestrating everything having to do with communicating with your existing customers and gaining more customers, it soon will. Or at least your suppliers and consultants will be talking, preaching, and implementing full blown marketing plans, like an MBA from nearby university.
  10. Raising Your Kids:  Latest cost estimate to raise a child to age 17 [not even in college yet] is $234,900, 16% of which is food. Can you relate?

 

 

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