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1 Copyright © 2015 Dealertrack, Inc. All rights reserved. Kelly Mulroney Vice President, Product Strategy Mobile Strategy – Transforming the Auto Industry

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Page 1: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

1Copyright © 2015 Dealertrack, Inc. All rights reserved.

Kelly Mulroney

Vice President, Product Strategy

Mobile Strategy – Transforming the Auto Industry

Page 2: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

2Copyright © 2015 Dealertrack, Inc. All rights reserved.

Mobile adoption is undeniable and material.

“Eighty percent of shoppers are now ‘digital’ — and a growing number are “Über Digital”

Cisco Consulting Digital Shopping Behavior in an ‘Internet of Everything’ World – 2014

Page 3: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

3Copyright © 2015 Dealertrack, Inc. All rights reserved.

Disney – Total Digital Experience with Web, Kiosks, Mobile, and Wearables

It’s enhancing the customer experience.

Page 4: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

4Copyright © 2015 Dealertrack, Inc. All rights reserved.

It’s helping marketers drive revenue ‘in the moment.’

Page 5: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

5Copyright © 2015 Dealertrack, Inc. All rights reserved.

Then NowSales associate as product and pricing expert

Hyper connected customer and digitally delivered content and recommendations

Personal, individual relationshipsDigital engagement and face-to-face contact

Selection based on serendipity and local availability

Inventory comes to the customer

Word of mouth drove with limited and delayed broadcast range

Word of mouth digitally amplified and immediate.

Final selection still awaited the “showroom” experience

Digital commerce virtualizing the showroom

New, Digital Retail Reality

Page 6: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

6Copyright © 2015 Dealertrack, Inc. All rights reserved.

But this is automotive.Why should we care?

Page 7: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

7Copyright © 2015 Dealertrack, Inc. All rights reserved.

3 Reasons

Page 8: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

8Copyright © 2015 Dealertrack, Inc. All rights reserved.

#1 Customers are expecting online and store to be connected. They want to do more online and have more control and transparency in store.

Page 9: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

9Copyright © 2015 Dealertrack, Inc. All rights reserved.

Customer expectations are shifting. It’s time to meet them on their digital terms.

Page 10: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

10Copyright © 2015 Dealertrack, Inc. All rights reserved.

Mobile Devices are Showing up in Store

Consumers are researching while on the lot, with 3rd

party sites, OEM sites, or your own Web site.

Source: Mobile Device Use at the Dealership, Placed Inc. Jan 2014

Page 11: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

11Copyright © 2015 Dealertrack, Inc. All rights reserved.

Early Adopters are Responding by Exploring Retail Transformation

Page 12: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

12Copyright © 2015 Dealertrack, Inc. All rights reserved.

Vehicle Presentation was in the First Wave

Check-in & Research Meet & Greet Vehicle Search Vehicle Presentation Vehicle Options

The First Wave

Page 13: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

13Copyright © 2015 Dealertrack, Inc. All rights reserved.

Next Wave Driving Deeper Change

Check-in & Research Meet & Greet Vehicle Search Vehicle Presentation Vehicle Options

Vehicle PaymentsStructure Trade-in Appraisal

Sign Contracts

Review Contracts

Dealer Survey

Review Menu Options

Delivery

The First Wave

The Next Wave

Vehicle ServiceConnected Vehicle

Page 14: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

14Copyright © 2015 Dealertrack, Inc. All rights reserved.

One Sonic -One Experience

Developing proprietary technology and new in-store processes to remove the “pain points” of the automotive experience to provide a seamless buying and ownership lifecycle

Page 15: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

15Copyright © 2015 Dealertrack, Inc. All rights reserved.

Sonic’s focus on tablets

“As customers go through the car-buying process, some of their biggest concerns are trust and time. We’re using iPad and iPhone to break down both those barriers”

Heath ByrdSonic EVP & CFO

Page 16: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

16Copyright © 2015 Dealertrack, Inc. All rights reserved.

#2Innovators are starting to explore changing roles in dealerships. Product consultants in lieu of sales consultants. Sales consultants working the deal. Sales and F&I management functions merging.

Page 17: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

17Copyright © 2015 Dealertrack, Inc. All rights reserved.

Our Mobile Store Tools Bridging Across Channels and Enabling Changing Roles

Recognize the customer with visibility to online.1 Help them find the in-stock

car they will purchase.2 Start deal structure and understand finance options3

Capture the credit application4

Explore F&I product and sell in a compliant way.5

Go paperless from pencil to contract6

Connected to Our Core F&I Platform

Page 18: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

18Copyright © 2015 Dealertrack, Inc. All rights reserved.

Recognizing the Customer

Page 19: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

19Copyright © 2015 Dealertrack, Inc. All rights reserved.

Finding an in -stock vehicle

Page 20: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

20Copyright © 2015 Dealertrack, Inc. All rights reserved.

Start deal structuring and understand financing options

Page 21: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

21Copyright © 2015 Dealertrack, Inc. All rights reserved.

Capturing the Credit Application

For some time… Managers (most likely an F&I Managers) and Continue to Drive the Transactional Process via Desktop Tools.

Page 22: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

22Copyright © 2015 Dealertrack, Inc. All rights reserved.

Explore F&I Product and Sell via an Engaging, Compliant Menu

Page 23: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

23Copyright © 2015 Dealertrack, Inc. All rights reserved.

Going Paperless from Pencil to Contract

Page 24: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

24Copyright © 2015 Dealertrack, Inc. All rights reserved.

#3Over time role transformation and consolidation may require a shift from individual know-how in sales and finance to system-driven workflow

Page 25: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

25Copyright © 2015 Dealertrack, Inc. All rights reserved.

Transformation driven by accumulated learnings from experimentation.

Page 26: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

26Copyright © 2015 Dealertrack, Inc. All rights reserved.

Dealertrack’s role is to enable transformation not force it.

Page 27: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

27Copyright © 2015 Dealertrack, Inc. All rights reserved.

Mobility Enables a Secure, Compliant Transaction in a New Retail Experience

Phone Tablet Browser

Apps & Bureaus

Loan ProcessingWorkflow Automation Compliance

Showroom Tools Recommendations

Protected and Secure Data

Page 28: Vice President, Product Strategy - DealerTrack...Title Mobile Strategy_Executive Lender SummitD Author lipsonm Created Date 6/11/2015 12:01:55 PM Keywords ()

Copyright © 2015 Dealertrack, Inc. All rights reserved.

Thank you.