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MyDealerOnline

"Sell Before You Buy"

Meet our Intern: Introducing Julian Aspite of Aspite Auto Auction

We'd like to introduce you to our newest MyDealerOnline team member, Julian Aspite. Julian is going to be a senior marketing major at West Virginia University and will be assisting the marketing and sales department for the duration of the summer. Certainly a well-rounded and knowledgeable addition to the team, Julian grew up right in the action of the auction at Aspite Auto Auction, currently owned and operated by his dad, Jerry Aspite Jr., and his uncle, Antonio Aspite. Here's more from Julian himself.   

Pictured Above: MDO team members, Alexander and Andrey, initiating Julian in summertime lunch break exercises

Growing up in the auto auction world was very exciting.  I would go to auctions on Saturdays to watch my Dad and Uncle auction off cars and loved to hear them do their “fast talking.”  Hearing them speak always made me laugh and smile.  Although the auctions were fun, they were also very intimidating.  There would be a lot of people hovering around the lot hollering when they did not get the car they wanted, but I was able to get used to this quickly.  After the auctions, my Dad and I would go back to the office so he could do paperwork.  After he was finished with his work, we would go into the yard and he would drive me around on the forklift, play with dogs, and look at all the cars. Everything was very fascinating to me.

 Pictured Right: Life in the yard at Aspite Auto Auction

Now that I am grown up and working with my Dad and Uncle, the auto auction world I grew up in is very different.  Aspite Auto Auction went from working in trailers on the side of State Road to an office in a building.  They started to get nicer cars in their auctions with clean titles and made a bigger name for themselves. Since I can still remember what the yard looked like and how they ran the auctions many years ago, I am able to fully appreciate the work that my family has put into this business and where they are now.  Each day I work with my family I learn more about the industry and see how they are evolving with the digital era.         

 

Over the past few years, I’ve been working for Aspite Auto Auction when I am home from school.  I saw the company switch from only live auctions to now having live and online auctions.  The way they run their live auctions is different from the way they ran them two years ago and it seems to be changing each month.  They are able to find more efficient ways to run the auctions which benefits everyone that works for Aspite. They now use an online auction platform with an easy to use mobile app, a technology upgrade that has changed business for the better.  We are able to put vehicles online much faster with the app and online auctions run very smoothly.  It has been a great help to the company and I am very excited to see where it takes us in the future. 

Pictured Above: Aspite Auto Auction celebrating their grand re-opening after over 50 years of business

Three’s a Party: The Role of Third Party Sites in Automotive Retail

Traditional automotive retail consists of two main players; the dealer and the consumer. Modern automotive retail consists of the dealer, the consumer and every other factor that now influences consumers' car buying decisions. From consumer shopping guides, to dealership reviews, to social recommendations on Facebook, we are given countless resources as consumers to guide our purchasing decisions in today's digitally-connected, review-friendly society. When it comes to third party automotive sites, three’s a party as they offer benefits for both the dealer and the consumer. This blog post explores the impact of third party marketplaces in the automotive retail sector and introduces an innovative solution for remarketing vehicles. 

Trends show that consumer shopping behaviors favor third party sites, utilizing such marketplaces as trustworthy and objective informational resources throughout the decision-making process. In fact, 2 out of 3 new car buyers, and 4 out of 5 used car buyers rely on independent research sites and marketplaces as a key resource in their car buying process.1 "Consumers like to comparison shop, and they want unbiased information that third party sites provide," stated Alex Vetter, CEO of Cars.com, at the 2015 Automotive News Retail Forum.2 As fragmented as the auto retailing industry is today, independent dealers continue to rely on third party sites to market their inventory. Third party sites allow consumers to view an array of inventory, shop around and find a good deal. Convenience is key for today’s consumer and the convenience of third party sites is rooted in massive amounts of inventory, avenues for comparability and reliable consumer reviews all in one place. 

 

For dealers, third party sites offer marketing opportunities difficult for independent, franchise dealerships to initiate on their own. Third party sites are today’s classified newspapers ads with better results. "Few groups have the size and resources to strike out on their own and create websites sufficient to try to attract all the business they need internally," mentioned John Krafcik, President of TrueCar, Inc.3 Third party sites allow dealers to reach a wider audience, generate leads and advertise their dealership. According to Driving Sales News, 78% of consumers looking for used cars are using a third party site in their search. Out of this 78%, they also state that 60% of the time that consumers spend going through the buying process is spent on a third party site.4 With such a high percentage of lead and sale traffic coming from third-party sites, why wouldn’t every dealer's strategy focus on broadcasting their dealership on these types of marketplaces? 

 

Well for one, third party sites require a quality leads handling process and consistent communication to produce profitable ROI. Let’s face it, marketing inventory on these sites does come with a price and in order to reap the benefits in return, they require a significant amount of management and attention on the back-end. It is important for dealers to remember that many third party sites do not necessarily consider themselves lead providers but rather inventory marketing channels.5  Given the sheer volume of consumers visiting automotive marketplaces on a daily basis, third party sites offer viable avenues for dealers to market their inventory. However, third party sites do not necessarily serve as the lead-generating power tool designed to solve all dealer hardships in automotive retail. In the past few years, AutoNation has placed less emphasis on plugging money into third party site providers and turned its attention towards brand building. "I can pay them to build their brands, or I can build my own brand," referenced AutoNation's CEO, Mike Jackson, noting that the significant fees and subscription costs for online lead generation through third party sites simply wasn't worth the cost.6

 

Given the interesting twist of third party site advantages and disadvantages for dealers, what about a tool that offers consumers a massive selection of inventory AND provides dealers quality, manageable leads through their OWN website? MyDealerOnline's revolutionary software does just that. An auto remarketing tool designed for dealers to offer a greater inventory selection without increasing their upfront capital finance requirements, MyDealerOnline aggregates auto auction inventory and places it on subscribing dealers’ sites for consumer browsing. Car shopping consumers are able to browse this inventory tool and inquire about particular cars straight through MyDealerOnline’s interactive communication platform. Dealers get real-time lead alerts and consumers get fast responses to their inquiries. MyDealerOnline's solution bridges the gap between wholesale and retail, an opportunity not available through third party site providers. To learn more about this unique concept, visit mydealeronline.com for additional information.