What a conference – this was one for the books! If you haven’t had the chance to attend the Western Canadian Dealer Summit conference, you should add it to your list for next year. This year’s conference was held at the beautiful Banff Springs Hotel, and not only did we have great weather and some great views of the mountains, but we also came home with numerous takeaways from all the amazing speakers.
Several themes were present throughout the conference, from interest rates to fraud and cyber security, but we’ll focus on the conversations around Gen Z buyers, advertising platforms you can’t sleep on, and some dealer inspiration.
Gen Z Shoppers
Gen Z is all about authenticity and connection, so you may be wondering how to apply that to your dealership and your marketing initiatives. Speaker, Olivia Stapleton came prepared with 8 takeaways for you.
- The experience matters more than ever – 66% of Gen Zers will walk away from a disconnected experience
- Transparency is non-negotiable – 85% of Gen Zers said that hidden terms or extra costs not listed upfront will kill the deal
- Integrity in every interaction – authenticity is key, don’t let the sale just be transactional
- Consistency across every channel – thinking pricing, savings, payments, how many in stock
- Online is the new showroom – although this may not be new, it’s incredibly important to still keep top of mind today
- Information power shift – don’t be an information gatekeeper, be an information partner
- Brand loyalty and retaining next-gen buyers – 66% of Gen Z buyers want a personalized experience
- Listen and learn to lead – listen to their needs and find something that fits those needs, not just what your sales guys want to push
To put it plainly, a Gen Z buyer isn’t that different from any other buyer in terms of wanting to find a vehicle online, have the pricing be consistent from online to in-person, have their needs listened to, and have great customer service.
A look into Pinterest
Pinterest is the last positive corner of the internet.
Although not everyone reading this will know a ton about Pinterest, it’s something you need to pay attention to. Pinterest in essence is a visual discovery platform that’s nestled perfectly in between search, social and commerce platforms. Although Pinners are in a future-based market – think home reno, DIY, or wedding planning – it also pertains to the automotive industry and it’s growing audience. The wonderful thing about Pinterest is that it’s about yourself, not the selfie you just posted. You get to dive into whatever you find interesting in that moment, and find content perfectly relevant to you.
For automotive, there are 5 key audiences to hone in on: Family Drivers, Gen Z, Truck Buffs, Luxury Lovers, and EV enthusiasts. For early intent buyers, think of how this can impact your dealership by bringing in new buyers like Gen Z, growing families looking for a larger vehicle, or pushing your EV sales at the store. There is a lot of opportunity on this platform, and it’s only just getting started. sMedia is proud to be in the beta program for Pinterest, so make sure you sign up for our newsletter to be the first to know when it launches!
Fireside Chat: Brian Sencich, Rhys Albrecht, Christos Nikitopoulos with Mathew Growden
What do a dealer group, a social media platform and a transparent media software company have in common? Well, a lot more than you would think. This panel boasted an intense discussion around where to find the ‘fish’, how those fish consume content, and why dealers should focus on objective-based marketing.
One of the larger topics was questioning how to make sense of buying media across platforms. With gambling app usage up, NFL viewing down, and fractured content consumption across every platform, where should you be putting your money? At the end of the day, it comes down to setting the right goals and backing it up with the right campaigns to hit those goals. Depending on your budget, location, and how far you want to reach, you’ll need to work with great digital partners, like sMedia, to find the right mix to make it happen! There’s no one-size-fits-all solution.
Dealer OEM Panel: Ashley Wolfe, Jill Merrifield, Andrea Backman with Niel Hiscox
As a Franchised dealership, working with your OEM is crucial, but working together takes two. This was another information-packed panel where we got some deeper insights into how communication works from Tier 1 to Tier 3. When OEMs are open and have flowing communication with their Franchised stores, they are all better equipped to handle the changing demands of the market, wrenches in your plans like COVID, and even the evolving landscape of electric vehicles (EVs).
The EV topic was an interesting one with this group of leaders. They all understood the growing demands from this market and explained how additional support is needed in this area. Just because a store is in a hot EV market and is able to move them, doesn’t mean there’s much for profit when you dive into the additional costs associated with carrying EV’s, like changing the infrastructure, having cars charged and ready on the showroom floor, tech personnel challenges, etc. Luckily, dealers are persistent and entrepreneurial in nature and will keep pushing through to figure it out.
Murder the Database
If you haven’t seen Brian Bentock speak before, you absolutely should. He’s got intense energy, huge charisma, and big ideas. He also runs one of the most successful Honda and Acura stores in Queens, NY. When presented with challenges, Brian hones in on the opportunity, the solution and what he can do about it. With 5 other Honda stores in his radius, instead of focusing on them as the competition for service, he looked at the 17,000 independent service shops in that same radius and focused on two solutions that would change the game for his store: service vehicle pickup and dropoff and 24-hour service. By removing obstacles for his clients, like driving in New York traffic, being stuck waiting for your vehicle to be done, only having so many bays available, etc. he was able to be opportunity-oriented and capture a bigger piece of the pie.
When looking at profitability for a store, look at your most valuable deal – a vehicle exchange! Murder your database by diving into what’s right under your nose. Start looking at your customers with the highest potential to purchase and those who have consistent ROs at your store. It’s amazing what you can learn from your own data if you only take the time to analyze it, understand it, and use it.
A Note from Two Olympians
We not only got to hear from one Olympian during the conference but TWO.
Sisters Alysha Newman and Bri Newman sat down to discuss Alysha’s road to Paris 2024 and taking home Bronze in the Women’s Pole Vault. There were so many tangible takeaways like the rule of 12, adopting mantras that are concise and help you stay focused, and how to align clear roles with everyone on your team to keep pushing forward. Alysha’s resilience to accomplish what she’s done is nothing short of inspiring.
Jon Montgomery was our keynote speaker to close out the conference at the Saturday night gala. Not only is it exhilarating to relive his 2010 Gold medal victory in the Men’s Skeleton, or to hear about how he got selected to host the Amazing Race Canada, but it’s also fascinating learning about his upbringing in Russell, Manitoba, and his auctioneering background. Jon is an absolute testament to being resilient and passionate about what you do if you want to be successful.
If you didn’t get a chance to attend the Western Canadian Dealer Summit this year, we hope you found this recap helpful. If you’re asking yourself if you should attend next year, our answer would be YES and we’ll see you there in Lake Louise!
