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Saturday, March 26, 2016

'Think Outside the Blocks'

It's pretty obvious, at this point, technology is here for the long haul. More dealers are buying online, and wholesalers are beginning to purchase white-label marketplaces. Whether or not you agree or don't agree that the trend will continue, really has no bearing on the outcome. The only thing the industry can do at this point is 'think outside the blocks'.
Future-proofing your business allows you to be prepared for any scenario, including the 'Online Apocalypse'. This means, if you are an auto auction, then you need to work at being the best online auto auction. If you are a buyer, you should expect the same level of customer service from the Internet facility as you do from the brick-and-mortar. Be sure to communicate your experience if the auction falls short, and give them the chance to improve.  If you are a seller, you should research and understand the best practices for representing your inventory online, or simply ask the auction for guidance. 
The 'online auto auction' is not an out-of-the-box solution. It is a new business model that requires the establishment of a good workflow from vehicle intake to disposition, an internal commitment to education & training, customer confidence built through the development of a strong online reputation, and increased visibility in the virtual space. It is the combination of effort from the auctions themselves to those they serve. At this crucial point and time, it is the old school meeting the new. So rather than proceeding into the inevitable with reluctance, consider this: Now is the time to leave the footprint of the past. The industry built on a solid foundation of integrity and community is evolving. You all have the distinct opportunity to embed the principals that have governed the success of your businesses for many years...
Embrace it.