We’ve dubbed it “SNOLA”. NADA in New Orleans was unlike any other before it. I guess that’s what happens when the worst snow event to hit NO since 1895 screams into town, canceling thousands of flights across the southwest, and crippling the city to a total shutdown.
We’ve got some travel experience stories to share (and we’d like to hear yours), but we’ll cover that at the end of this piece. What we want to dig into is the top takeaways.
EDUCATION EVENTS
With all of Thursday’s sessions and several of Friday’s sessions being canceled, there was a lot less education available than is usual at NADA. Available sessions included organic strategies, F&I advice, fraud prevention & cyber security, video implementation, EV themes, data management, and of course AI. You can check out what was available here.
A.I.
It’s a buzzword everywhere you go and this year’s NADA was no exception. The term AI is pretty broadly used and it can be hard to distinguish the differences between machine-learning and actual AI. For the auto industry, the outcomes are essentially the same. Using non-human integration to speed up processes, replace human labor, and manage tasks efficiently for the benefit of the dealership. While some have jumped right into the deep end of integrating AI into their dealerships, others have taken a more conservative approach with which elements AI is tied into. A thoughtful approach is the right one in our opinion.
Implementing AI could save time and money for the dealership, but it’s important to understand the impact it will have on the shopper… your future customer. These replacements can be felt most when AI replaces human interaction. Keeping a close eye on results and maintaining oversight of these technologies is vital as you vet and implement them. Sometimes AI creates awkwardness for the customer or a negative experience, and identifying that early is important to prevent those experiences from cascading into negative reviews.
With a healthy dose of caution maintained, now you can dive into the transformative power of AI. It can fundamentally change aspects of your business leading to greater sales velocity, higher engagement, and profitability.
So how is sMedia integrating AI? We’ve taken a curious but cautious approach, ensuring that we have the right processes in place and the right people managing the tools in order to maximize ad operation efficiencies and optimizations while using AI. We’ve also added several new AI-assisted video options for dealerships to help maximize engagement on your website or ad platforms.
NEW AUDIENCES
NADA is always full of new launches and new products, and while new ad platforms aren’t being announced every day, there are two in particular that aren’t wildly used in auto and still have that ‘new car’ feeling. TikTok and Pinterest are both evolving their offerings and have accelerating growth in automotive audiences across both platforms. TikTok specifically has an incredibly innovating new AIA product and Pinterest is set to fully launch their dynamic inventory product through the next quarter.
sMedia is a partner with both platforms and we service a significant share of North American TikTok Automotive advertisers. Our team is ready to work with progressive dealers who want to change the game and take advantage of these platforms while it’s still at a lower cost of entry.
VIDEO
There has been a YOY increase in video services offered at NADA, and this year was no different. Where AI fits into video varies depending on the type of service you’re interested in and the creative you’re looking to produce. When looking at AI-powered video options, a few things to consider would be; 360 videos of your inventory where images are modified using AI and stitched together, if you’re looking for AI to enhance your inventory appearance in the video, or if you’re looking for more creative AI videos that tell a story around your inventory. These videos are typically significantly lower in cost than traditional video production, allowing flexibility and quick turnarounds.
sMedia has several AI-assisted video offerings, with the newest one highlighted at the show and available very soon. From branding and testimonial style videos, to a completely reimagined way of highlighting your inventory through video in advertising and on your website, we have you covered!
DATA & RISK
Dealers continue to explore data management and possible movement into CDP’s. Be warned, it can get expensive, and data management can sometimes come with internal staffing needs that aren’t anticipated. Take your time, explore your options, and understand how data integration will affect not only your current state, but also your future state. An inevitable circumstance of the automotive industry is change, and you want to make sure that you are able to maintain the flexibility to work with different partners if you choose.
Consolidation under a single vendor opens you up to risk, the type that can make business disruptions more severe. Be sure to cultivate your options in order to mitigate potential downsides, while gaining the upside of using vendors with specialization, often leading to higher performance, and better service.
‘SNOLA’ STORIES
We promised stories and here they are.
- You say vacation, we say work-cation… Our CEO, Erin wanted to take a bit of R&R time and arrive early in NOLA with her husband to take in the sites. Instead, their flight was held up in Houston, leaving them stranded. (But the airline flew the luggage without the passengers… You can’t make this stuff up.) So she rented a vehicle and made the drive to NOLA, just beating the storm. Only to be snowed into a city that was completely shut down. Nothing was open, and even the heat in the hotel failed. With the rest of the team delayed, she and her husband built our booth alone in lieu of having any vacation.
- More roadtrips! Our Head of Growth, Alecia, was stuck in Atlanta, with no flight to NOLA. She thought about flying to Baton Rouge the next day, hoping to drive from there. Fearful of more delayed/cancelled flights, she instead caught a ride from Atlanta that night with two other NADA attendees from Toronto (Canadians + winter driving = ‘we got this’), where they proceeded to jump from side road to side road, avoiding closed highways with hundreds of lined-up snowed-in semi’s. She made it to NOLA at 3am after 24 hours of travel, with some new lifelong (trauma-bonded) friends in tow.
- Extra Expenses! Our Marketing and Sales team members, were delayed over 36 hours and had to go out of pocket with Spirit Airlines flights as all other carriers were overbooked.
Everyone who made it to ‘SNOLA’ is nothing if not resilient!
What’s your story? Share it with us at marketing@smedia.io and we’ll include it here.
– Terry Bell
