Jim Flint

Company: Local Search Group

Jim Flint Blog
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Jim Flint

Local Search Group

May 5, 2020

Baking the Cake of Virtual Retailing: How to Interact as We Transact

It’s no April Fools’ joke that Apple became a company on April 1, 1976. In 1984 telephone companies as we knew them began to break-up. A subsequent window opened to advance how we communicate. As such, Apple evolved from an early start in computers and connected the dots to personal communication.

 

Twenty-three years later—on June 29, 2007, the Apple iPhone met the market and changed our lives.

 

Google turned twenty-one in September of last year. Earlier this year, Facebook reached its sweet-sixteen mile-marker. And just ahead Local Search Group turns ten.

 

As historic milestones continue to be marked, the near-term, worldwide game-changer will be Covid-19 and what it will do to and for our collective futures. We will look back at lives changed, and businesses developed.

 

The current window involves how we interact as we transact and the opportunity to improve the cleanliness, timelines, and touchiness of business. Business services will transform much faster than we would have ever otherwise imagined. 

 

Where will Virtual Retailing be in the next 23 years?

Jim Flint

Local Search Group

Founder & CEO

323

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Jim Flint

Local Search Group

May 5, 2020

2020 - What You Make Of It

The news turned into coronavirus coverage a few months ago. Business closures, cancellations of concerts, stock market up and down, sports suspended. School's out for the summer and possibly even into the fall.

With so much happening so fast, we have a never-ending and seemingly constantly-compressing news cycle. Here's where you come in though, to begin the process of choosing the story.

With more time than ever to consume information--according to eMarketer--our media consumption in the US is up by over an hour versus the prior year. More generically, 40% of the lift comes via a category referred to as "mobile phone, non-voice". More specifically, Tik Tok's average minutes per visitor are up over 45%.

As we roll further into 2020, the key is not to get too caught up in the hype and cycle and know that you ultimately control the messages you consume. What does your TikTok feed look like? For that matter, what does your feed look like for any of the algorithmic sites --like Facebook-- that you frequent?

As we look forward to the election the conditions for consumption will drive visibility to all-time highs. The probability of extreme polarity shouldn't be lost on anyone. It's about what you choose to view in your feed, though. As we already know, the world will still be here. 

Jim Flint

Local Search Group

Founder & CEO

276

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Jim Flint

Local Search Group

May 5, 2020

Your Grand Re-Opening Plan

As we move forward with the grand re-opening of your city or state, customers will look for new evidence in the way of operational advertising for your store. 

It's more than a brand promise. Viewed through the consumer lens--It's more or less--"What will you do for me?"

So defining the details of delivery terms and distances are crucial for sales as well as service.

Your store may attempt to improve in operational execution with fewer people on staff. So scaling the operation through geography and time of day becomes vital. For example, don't tout "same-day delivery" when the right message should be "same-day delivery for orders placed by 11 am".

Avoid setting expectations you can't deliver upon at all costs. Then turn to talking about the one thing everyone wants to know about. Cleanliness. Take a moment to highlight the immaculateness of your store, the sanitation of your service, and the overall purity of your daily operations.

Finally, welcome them back--without open arms. Do you need social distancing tape on the floor like at the grocery store? Shaking hands? Hugs? Should your team wear facemasks? Are customers expected to wear them?

How you let your customers know what to expect when they come back is just as important as how you consider the same for your employees.

Whatever you do or however you convey it to your customers--please stay safe out there!

Jim Flint

Local Search Group

Founder & CEO

209

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Jim Flint

Local Search Group

May 5, 2020

Size Doesn’t Matter--Covid-19’s Market Reset for Carvana

Carvana promised a new way of doing business in the auto industry. Long before the current revamps to virtual retailing, they promised a 7-day test to own option, delivery to your door, and the ability to pick up your vehicle from a state-of-the-art vending machine.

With over $12 billion in market capitalization, operating expenses that continue to outpace gross profit, and an oversupply of inventory, it comes time to ask if the model will work. 

With tremendous downward pricing pressure on used cars due to off-lease vehicle returns and lighter consumer demand, the headwinds continue to grow even more durable as favorable finance terms for new vehicles put pressure on the model. 

Expect lower gross profit per unit from Carvana. The upside--if any--is that Carvana can weather the storm via approximately 15 months of projected cash flow.

Will things be different though--15 months out? Yes, they will, however, by way of improving operations from Carvana’s key competitors. 

Right now, there’s a huge operational opportunity for new-car, franchised dealers to pick up the pieces of the Carvana model that can work for them. It’s clear that the operational advertising and marketing message for Carvana compelled customers to change their habits. And in the new world order, the demand for Virtual Retailing will only grow as consumers expect this of their new car dealers.

Has Carvana joined the ranks of franchise dealers straying away from their previously marketed message that they will buy your car whether you buy one or not? Yes, they have. If you had any doubt that Carvana isn't feeling the same glut of inventory that franchise dealers are during this virus, just compare their marketing message (and past behavior) to their new message:

Sound familiar and different than the "We're your friend with a no-hassle experience?" Well, apparently Carvana is feeling the impact of COVID-19 as well as all other dealers. And they have had to change their strategies as well (even if they have failed to revise their marketing and are continuing to pay for inaccurate Google PPC ads.)

Many new car retailers are already adapting to the change. Cleaner vehicles now reside all over sanitized service drives and dealer lots. Advertising will continue to be more operational. And new cars -- driven by the aforementioned favorable finance terms -- will push people out of used and into new -- especially so with comparable operational experiences.

As such, Carvana’s game-changer, for the worse, will not be a major manufacturer, but rather an infinitesimally small virus that moved the world markets.

Disclaimer: Do Your Own Research, this content is for informational purposes only, and any investment decisions are strictly your own. You should take financial guidance from a professional in connection with or independently research and verify any information that you find here or wish to rely upon, whether to make an investment decision or otherwise.

Jim Flint

Local Search Group

Founder & CEO

302

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Jim Flint

Local Search Group

May 5, 2020

How to Better Your First Impression

The first impression. The possible start of a long-lasting relationship. You have but one chance to get it right. It’s one of those critical pieces where someone makes up their mind about you in less than seven seconds.

You’ve likely had thousands of these experiences…with friends, new acquaintances, business contacts, and in your communities. So how do we improve upon that first experience if the encounter is on FaceTime, over the phone, or via some other social distant experience?

Reverse engineer it. And let's see it from their view for two or three seconds.

In that opening moment, you more or less capture a sense of who the other person. Endeavor to hear and recall their name. Then quickly shift to discover what it is that are they seeking from you? Their motive.

Build from there and think RELATIONSHIP.

In these important, initial interactions the insight is that it's a human being you’re communicating with…not a machine. There is no algorithm to solve.

In the end, the more socially distant you are the more socially present you should be--especially so in the very beginning.

Jim Flint

Local Search Group

Founder & CEO

419

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Jim Flint

Local Search Group

Apr 4, 2020

Talking to Customers In today's Conversational Commerce

Talking with your customers in today's new World order. #localsearchgroup #jimflint #conversations #commerce #newworld #dealers #dealerships

Jim Flint

Local Search Group

Founder & CEO

298

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Jim Flint

Local Search Group

Apr 4, 2020

The Last Dance--And the Jordan Promise

Michael Jordan’s iconic shoe emblem delivers another incredible aerial display as "The Last Dance" comes to market and brings us back to some 30 years ago. Sunday Sports are gone and now for the next 5 weeks, we join Jordan and his teammates to recapture his ability to capture the world's imagination on ESPN.

The Jordan Brand delivers like no other. In fact, Jordan lamented the series. He felt that others might not necessarily appreciate his tenacity, focus, or ultra-competitiveness. 

The brand still stands tall. 

Air Jordan redefined the shoe market in 1984 and even today the brand continues to take flight. Moreso now as a luxury brand in the Nike line-up and with sales that continue to climb. The Jordan Brand achieved it's first billion-dollar quarter in Q4 2019. 

As the purchases pile up it makes me wonder--do we buy because the brand promises that we will be able to jump through the air as he did or that we will win NBA championships as he did? Some may. Especially athletes. However, in the end, for the overwhelming majority, the premise is that forever whatever you purchase is that it will add value to your life. 

If you buy your pair of Jordan’s—whether you’re fifteen or fifty—the idea is that it will help YOU jump, if not reach, as high as you can. Not as high as Michael did. 

Jim Flint

Local Search Group

Founder & CEO

337

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Jim Flint

Local Search Group

Apr 4, 2020

Give me the phone, I'll drive!

Soon, your iPhone will be your car keys.

#localsearchgroup #apple #iphone #phonekeys #marketing #digitalmarketing #dealerships

Jim Flint

Local Search Group

Founder & CEO

304

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Jim Flint

Local Search Group

Apr 4, 2020

Keys To The Car

Have you heard? More change is coming to the automotive category and the good news is you’ll be less likely to lose your keys.

Apple’s working on a new feature that will allow your iPhone to function as a key to your car. That’s right, a “CardKey” API is part of the updated operating system. It’ll allow iPhones and Apple Watches to unlock, lock, and start vehicles.

Apparently, pairing between your devices and your car will need to be done through the Wallet app. Your manufacturer’s app will be required to get that done as well. We’re on our way though, if not slightly delayed by the current covid-19 situation.

Although the iOs is yet to release, it looks like Apple is working with car manufacturers to get the new feature up and running. Pretty cool and something to look forward to in the near future!

Jim Flint

Local Search Group

Founder & CEO

288

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Jim Flint

Local Search Group

Apr 4, 2020

TikTok & The End Of Insta-Famous

Has TikTok leapfrogged over Instagram? #localsearchgroup #tiktok #socialdistancing #instagram #socialmedia #evolution

Jim Flint

Local Search Group

Founder & CEO

254

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