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Customer Interaction App Helps Mercedes Benz of North Palm Beach
LONG BEACH, Calif.,-- April 2, 2018-- -- myKaarma, software that helps dealerships communicate better with their customers at every stage of the service process, right from check-in through to payment, today announced that Mercedes Benz of North Palm Beach stopped using their regular phone system in service and now puts every call, text and email through myKaarma. The system keeps a record of every customer interaction, is fully searchable for seven years, and records all incoming and outgoing calls. This has helped build trust with customers, improved customer satisfaction, loyalty and retention.
Two years ago, Service Manager Shawn Potsander heard about myKaarma at a National Parts & Service Managers’ Meeting. Impressed with the results, he decided to try it at his dealership. Potsander runs a pretty busy shop, writes around 1,200 Repair Orders per month with 20 techs and 6 full time service advisors running 36 bays. At first, he was met with a lot of pushback, raised eyebrows from his employees and insecurity about recorded phone calls and the automatic tracking of every customer interaction. However, he could see a huge benefit as he was looking from another perspective -- not to spy on employees, but to document and check on what has been promised to the customer.
“As a manager there is no way to sit in and listen to 50-60 calls per day. At first, the staff was very reluctant. A couple embraced it more than others, but a couple were dead set against it,” said Potsander.
According to Potsander, there was one customer service incident that was a pivotal point. “An elderly gentleman came into the service department and I was standing right there. He apparently had some memory issues and said to the Service Advisor, ‘I know I spoke with you about the expected amount of my bill, and you told me that the call was recorded. I am not questioning you, please don’t take this the wrong way, but these days I tend to forget a lot. Can you please play back our call as I need to feel good about my decision, but don’t remember what we discussed?’ This was very interesting as we never expected this from a customer!” said Potsander. “We played it back and the amount he had in head was the original, but not the total with some required add-ons. As soon as he heard it he smiled and was literally ecstatic. He shook our hands and told us he was so happy as it reassured him that he had made the right decision.”
Seeing the impact this simple recording had on this customer, Potsander decided to have all service calls go through the myKaarma system every single time. He called the phone vendor and had them restrict all calls other than 911. Now, every direct dial number goes through the myKaarma application, so employees have no option but to use it.
“It is a great tool for customer satisfaction,” said Potsander. “Just yesterday a customer in urgent need of their vehicle came in upset as he said he had not received any notification from us that it was ready. However, we had spoken to someone in his office who told us they would relay the message to him but failed to do so. We were able to play back the conversation and he recognized the voice of his employee, it was like a mystery shop of his own office, as he knew exactly who it was. This saved us a CSI issue as the customer knew what really happened -- he was able to hear it with his own ears. This reaffirmed that this is where the value is. It is all about efficiency and trust between the customer and the dealership. Trust leads to profitability as it builds loyalty – this is a long-term loyalty build,” Potsander added.
Potsander has also seen an increase in efficiency, as advisors can spend more time focusing on multiple customers. He can also quickly refer back to any customer interaction, which helps on customer service issues, as the texts and calls are all easily searchable threads.
Service advisors can communicate from their desks via text, email or voice. “It simplifies and adds huge value as we can thread the communication. We recently added sales and parts functionality too. Technicians can upload photos and use RO search function right in the service bay. If a customer calls in to dealership anyone can pull up the RO, see the thread, including the picture the technician uploaded of a dirty oil filter and all the pieces that tied into that story or thread. They can then talk to the customer with some intelligence, without having to hand them off to someone else. It’s a fabulous tool as any manager can go in and see any part of the conversation thread and add data as needed. Now I almost always start any phone interaction in the myKaarma system,” said Potsander.
Potsander also likes the integrated online payment system, which automatically sends payment requests to customers once the vehicle is ready. “It’s a real time saver automating this part of the transaction. We advise each customer that when their vehicle is ready they will receive an email or text with an invoice. This eliminates calls about their vehicle status. The service advisor role has a lot of multi-tasking, a lot of interruptions. So, the more you can automate for them, the more efficient they are. And, you can follow up and say, ‘hey I sent your invoice, do you have a minute to review it?’ The customer is prepared and already has the invoice, so it minimizes any dispute,” Potsander continued.
According to Potsander it’s also a simple matter to issue any refunds or make changes, such as if the customer forgets a coupon or parts are charged for twice. “It is very simple as a manager to go and issue credit, which is another great CSI point as the customer does not have to bring in their card. It is simple and efficient,” said Potsander.
The process of capturing mobile phone numbers is vital to the success of the program and the dealership does a great job at this. “Once the service advisor sees the value there is no push back. In fact, one employee who did not want to use the system at first, now tells me he will quit if I ever get rid of myKaarma,” Potsander noted.
For more information, or to schedule a product demonstration visit: www.mykaarma.com.
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myKaarma is the communication and payments platform of choice for the nation’s top automotive manufacturers and groups alike—enabling a consistent high-quality service experience for their brand’s customers.
Service departments enjoy an average lift in dollars per repair order (RO) of 37%, a 50% reduction in voicemails left with advisors, a 100% reduction in authorization disputes, a 33% decrease in loaner car days, and an increase in CSI scores.
myKaarma's platform backed by its “crazy good” customer service gives dealers the ability to offer their customers 21st Century technology through digital conversations and smart payment systems. myKaarma was named as an official communications and payments partner for Mercedes-Benz U
Ujj Nath is the Founder and CEO of myKarma (www.mykaarma.com), the cloud-based conversational commerce software that’s revolutionizing the auto service industry. He has 25 years of experience as an entrepreneur and automotive industry executive.
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Think Efficiency isn’t the Answer? Check out this Story!
According to a recent article in Automotive News, Motorcars Honda in Cleveland Heights, Ohio, believes that the future of franchise dealership profitability lies in efficient vehicle service, and as a result it’s service department is bustling.
So, what did they do? The dealership created an assembly line for quick-service that not only allows it to perform MPIs, but also an oil change in under 30-minutes. Every time. In fact, the dealership can service 71 vehicles in just two hours!
And they’ve put their money where their mouth is to the tune of $700,000. That may sound like a lot, but they forecast express servicing 30,000 cars per year. And, the innovative and efficient assembly line has the capacity to service 60,000. Not bad considering they aren’t limiting services to Honda customers, but to any vehicle owner.
The dealership feels the key elements to its service department’s success are speed, transparency and price. That’s what consumers want in today’s world.
But, speed and transparency apply to more than just how quickly you can service a vehicle. They also apply to how efficiently you communicate with a consumer, how detailed you are in the multi-point inspection, and how much trust is established with the consumer to enable them to agree to complete the transaction.
Efficiency drives revenue. Sure, most of you probably don’t have a cool $700,000 sitting around to establish such an operation. However, there are a lot of process improvements that CAN be done with software that makes a significant difference and doesn’t require a huge capital investment. Review your processes and find areas that can be improved. Perhaps it can be as simple as setting up shuttle service for your customers. Or improving your phone processes so the customer’s calls don’t always go to voicemail. Or adding a video inspection to ensure transparency for the customer. Using software to update any of these customer pain points can add efficiency and increase satisfaction with the service experience you provide.
Forward-thinking dealers such as Motorcars Honda understand what consumers want and are preparing themselves for a future filled with a service capacity that’s unheard of. Just as automotive manufacturing was transformed with assembly lines, this innovative initiative is sure to pay off as consumers in the local market start to realize that it doesn’t have to take long to get their vehicle serviced at a dealership. Once that perception changes, dealerships will have an incredible advantage over their competition. And there’s absolutely nothing wrong with that.
Ujj Nath is the Founder and CEO of myKarma (www.mykaarma.com), the cloud-based conversational commerce software that’s revolutionizing the auto service industry. He has 25 years of experience as an entrepreneur and automotive industry executive.
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myKaarma Launches Simple Video Walkaround App for Auto Dealer Service Departments
New App speeds up check-in process, virtually eliminates damage claims & increases upsell opportunities
LONG BEACH, California -- March 19, 2018-- --myKaarma, a software company that helps
dealerships communicate better with their customers at every stage of the service process, from check-in through payment, today announced the release of a new app feature that enables simple video walkarounds for auto dealer service departments. The video walkaround app feature is the simplest way to record any damage to a vehicle, speed up the check-in process, virtually eliminate damage claims and increases upsell opportunities.
The app feature is very user-friendly and allows service departments to inspect vehicles in a more natural way. The service advisor opens the app, turns on the video, walks around the vehicle and, when any damage is found, it’s recorded on the spot. The advisor simply taps the screen, the app adds a photo of the damage and pops up a list of tags such as dent, damage, scratch, etc., so the advisor can quickly identify and tag the area of damage for future review.
The videos and pictures are then uploaded to the cloud and chronologically stitched together, creating a free-flowing video that pauses for three seconds on each picture, allowing the customer to view as desired. Any area of interest is clearly marked with a circle, highlighting the area of damage so it can be clearly viewed.
The app can also be used by technicians, customized on an individual basis to include labels such as oil leak, battery, alignment, tire damage, etc. According to Ujj Nath, myKaarma Chairman and CEO, dealers are seeing a lot of success in authorizations when these technician videos and sent to customers prior to calling for approval.
“The customer receives a text with a link that opens to a screen where they can view the pictures and videos from the walkaround. These videos help uncover additional revenue through damage inspections and the transparent process builds customer trust and confidence. Our dealers are also enjoying tremendous results by improving the vehicle check-in process with integrated video check-in reports that virtually eliminate damage claims,” said Nath.
For more information, or to schedule a product demonstration visit www.mykaarma.com, stop by booth 1047 N at the 2018 NADA show in Las Vegas, NV, March 23-25, or click here to schedule an appointment at NADA
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About myKaarma:
myKaarma is the communication and payments platform of choice for the nation’s top automotive manufacturers and groups alike—enabling a consistent high-quality service experience for their brand’s customers. Service departments enjoy an average lift in dollars per repair order (RO) of 37%, a 50% reduction in voicemails left with advisors, a 100% reduction in authorization disputes, a 33% decrease in loaner car days, and an increase in CSI scores.
myKaarma's platform backed by its “crazy good” customer service gives dealers the ability to offer their customers 21st Century technology through digital conversations and smart payment systems. myKaarma was named as an official communications and payments partner for Mercedes-Benz USA.
Ujj Nath is the Founder and CEO of myKarma (www.mykaarma.com), the cloud-based conversational commerce software that’s revolutionizing the auto service industry. He has 25 years of experience as an entrepreneur and automotive industry executive.
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myKaarma Launches SmartAssist AI Technology for Auto Dealer Service Departments
Artificial Intelligence tool researches & answers questions, ensures advisors instantly know recall work when a customer texts and enables more efficient responses
LONG BEACH, California -- March 13, 2018-- --myKaarma, software that helps dealerships communicate better with their customers at every stage of the service process, right from check-in through to payment, today announced the release of a new Artificial Intelligence (AI) tool, SmartAssist. SmartAssist powered by AI acts as a personal assistant for service advisors, researching and providing answers to customer questions. It also provides information on previous recalls, assists in setting appointments and ensures advisors save time answering questions for the customer. SmartAssist speeds up communication with customers, enables the service advisor to quickly move on to the next customer without missing anything, improves the overall customer experience and service department profitability.
If a customer texts the service advisor to schedule a service appointment, the screen automatically populates with the customer’s VIN number and available appointment times, which can be sent to the customer with a simple click. No need to type a long reply. It will also pull up quick answers to monotonous questions, any outstanding recalls and suggest a reply that can be sent to the customer, saving the advisor time and ensuring they are on top of every opportunity to present context driven answers.
“Wouldn’t it be great if your service advisors never had to click on ten links to find a simple answer? With SmartAssist they can simply concentrate on taking care of the unique needs of their guests, type less, respond more easily, limit the need to do ‘research’ on each vehicle and instantly know what recalls a customer needs whenever they communicate with you,” said Ujj Nath, myKaarma Chairman and CEO.
The myKaarma software runs on mobile phones, desktops, and tablet computers. It has two main features: service customer communication and payment. Both of these products unite text, voice, and email into a simple conversation. All dealership’s phone lines for service are bundled into one phone number, ensuring that communication from the service department is easily identifiable to customers.
With myKaarma, service advisors can send texts—while at their desk—through their mobile phone, including photos and videos of recommendations for the customer to review. It is then a simple process for customers to approve work, and they can even pay their bill through the app. The online payment feature also streamlines customers’ pickup of vehicles after service. In addition, myKaarma helps eliminate all paperwork between advisors and controllers.
All communication is logged within the platform for future reference. When a service advisor is on break and the customer needs to get in contact, myKaarma “follow-me” technology sends the message to the service advisor’s smartphone, allowing them to reply even when not at their desk, while capturing the message in the cloud. Or the service advisor can delegate the message to another service advisor to handle. Instead of struggling to connect through phone tag, the advisor can update and get authorization from the customer in minutes.
When the customer’s vehicle is done, a payment request is sent to that customer through the app with a cash repair invoice, allowing the customer to verify repairs and pay on their smartphone tablet, or PC, without logging into a website.
According to Nath, the addition of SmartAssist makes myKaarma an even more effective tool for auto dealer service departments. “It’s like having a personal assistant research and answer client questions. Easy questions, hard questions, and everything in between,” said Nath.
For more information, or to schedule a product demonstration visit www.mykaarma.com, stop by booth 1047 N at the 2018 NADA show in Las Vegas, NV, March 23-25, or click here to schedule an appointment at NADA
# # # # #
About myKaarma:
myKaarma is the communication and payments platform of choice for the nation’s top automotive manufacturers and groups alike—enabling a consistent high-quality service
experience for their brand’s customers.
Service departments enjoy an average lift in dollars per repair order (RO) of 37%, a
50% reduction in voicemails left with advisors, a 100% reduction in authorization disputes, a 33% decrease in loaner car days, and an increase in CSI scores.
myKaarma's platform backed by its “crazy good” customer service gives dealers the ability to offer their customers 21st Century technology through digital conversations and smart payment systems. myKaarma was named as an official communications and payments partner for Mercedes-Benz USA.
Ujj Nath is the Founder and CEO of myKarma (www.mykaarma.com), the cloud-based conversational commerce software that’s revolutionizing the auto service industry. He has 25 years of experience as an entrepreneur and automotive industry executive.
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When Will the Automotive Industry Become Early Adopters Instead of Followers?
Does anyone remember when some car dealers didn’t think websites were valuable? It really wasn’t that long ago. Now, every car dealer from the largest to the smallest independent has one.
Even some manufacturers didn’t feel like they “needed” to own their own name on the Internet. Take the epic battle Nissan had with a gentleman who owned a computer company named Nissan Computers. That battle lasted a decade, but you know what happened? Nissan eventually lost and now what remains is an eternal testament to the story and, even after spending millions of dollars, Nissan doesn’t own its own domain. Don’t believe me? Go to Nissan.com, I’ll wait.
Technology has certainly changed consumer behavior. 15 years ago, buyers would physically visit 5.6 dealerships before they became an owner. Today they physically visit 1.2 dealership before buying. Virtual online shopping, vehicle selection, price comparison, dealership comparison, even financing is now the normal process. Customers only need physically visit the dealership to do a final test drive and sign the paperwork to legally complete the sale.
Want another story? A gentleman named Eric Weaver recently penned an article on LinkedIn sharing his frustration about trying to convince clients concerning the importance of the digital transformation. In that article, he shared a story about how in 1999 he spoke to the NADA audience trying to convince dealers about the importance of e-commerce. After many boos, debates and objections from dealers who did NOT want transparency, he ended up talking some of them into the first online test-driving scheduling system.
Some forward-thinking auto dealers are taking chances with new business models, technologies and processes in the early stages of development, such as video email, paperless documents
AI and chatbots and are doing really well with it. But, for the most part, industry experts place auto dealers at least 5 years behind every other retail business in existence in terms of adoption of technology and listening to consumer demands.
The problem is that this hesitation to adopt technology impedes progress and opens the door for industry disruptors. We have only ourselves to blame for disruptors such as TrueCar, Costco Automotive, even CarMax and the fixed price model. New disruptors like Blinker, Fair, and Carvana, are now looking to meet the new customer desires of today.
Had we earlier adopted technologies and processes that make car buying an easier process, there never would have been a pain point and those disruptive companies would not have seen a need. Meaning they probably never would have come into existence, much less raised the financial seeding that they have.
Want some interesting statistics? According to Weaver, 78% of businesses reported that digital transformation will become critical within 2 years, 74% are concerned about new disrupters entering their industry and 10 out of 13 industries believe that digital disruption will affect their industry in the next 12 months.
On the plus side, he shared a McKinsey study which reports that those companies who embrace digital transformation are expected to see increases of over 50% to their bottom line in the next 5 years!
For those dealers playing the “wait and see” game, time is getting short and the consequences of waiting are getting greater. It’s no longer a matter of “if,” but only a matter of “when.”
Embrace technology, recognize its value and you will increase efficiency and better satisfy consumer demand.
Ujj Nath is the Founder and CEO of myKarma (www.mykaarma.com), the cloud-based conversational commerce software that’s revolutionizing the auto service industry. He has 25 years of experience as an entrepreneur and automotive industry executive.
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No, You’re Not Being Replaced by Robots or AI
One of the most pressing technological and ethical questions across most industries – including automotive – is when Artificial Intelligence (AI) and robots will replace humans. Enter AI, and suddenly everyone thinks of Skynet, from the Terminator!
Certainly, humans are afraid of losing their jobs to robots, which are great at repetitive tasks based on a set of rules and code. But AI and robots aren’t something we, as a society, haven’t already encountered. In automotive manufacturing robots dominate assembly lines. And, artificial intelligence is making decent inroads at integrating itself into our lives via in-vehicle navigation systems, not to mention voice assistants built into our smartphones and various in-home technology.
The truth is that, while AI and robots may replace some jobs, they will also create new opportunities and careers.
In the early 1900s, John Philip Sousa predicted that the invention of the phonograph would lead to the demise of music. If we reflect on the impact of the phonograph, it has been wide ranging, such as preserving digital replicas of music that otherwise may have been lost forever. This has allowed music to be popularized beyond the concert halls it was originally played in, even leading to social revolution of the 70s and hip-hop in the 90s.
Ironically, all of this came from an invention created by Edison to get rid of stenography and to make business communications more accurate. Also, as Clayton Christensen espouses in his book The Innovator's Dilemma , inventions initially target applications that are niche-based, but eventually, as the invention matures, and price-performance and reliability improves, they find large scale use. However, this is hard to predict.
When AI matures it will be one of the biggest disruptive forces ever unleashed on mankind. And, like every other disruption, will have unpredictable consequences. This disruption will surely affect the drivers for Uber and Lyft, and governments shall have to play a role in the resettlement.
That being said, in the end, like the effect of the phonograph, the far-reaching consequences of such disruption will create new industries and new employment that will far outnumber the jobs it takes away. Unfortunately, the transitory period will be painful, and governments and philanthropists will have to plan a way out for the displaced. The capitalistic system that we work in will continue to develop this technology because all the incentives by which these companies are measured are enhanced by AI.
Just like “coding” is all the rage right now, in-demand skills will always shift with technology. Robots and AI aren’t the end of society. While they might cost some jobs, they will also create more by necessity.
The key to success isn’t standing around worried about losing a job, but rather determining which skill sets you should consider adapting to our ever-changing world. Just as society has done many times in the past.
Ujj Nath is the Founder and CEO of myKarma (www.mykaarma.com), the cloud-based conversational commerce software that’s revolutionizing the auto service industry. He has 25 years of experience as an entrepreneur and automotive industry executive.
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Self
Great post. I am curious to know the difference in cost between human capital vs machine.
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The Golden Rule for Change and Improvement
The automotive industry as we know it is undergoing a transition. From electric cars, to ride sharing, to autonomous cars, the landscape is rapidly changing. With consumers demanding convenience, and technology that radically changes the customer experience, we should brace for a decade of disruptive change.
All this change sometimes makes it difficult to wrap our minds around how to identify problem areas and create solutions that solve them.
I recently read about an interesting concept in the New York Times. The author suggests that it’s not only the automotive industry that’s undergoing this change, but our society overall. He posits that once upon a time society had a plan for each of us. We went to school, perhaps to college, learned a trade and then worked at that trade. However, with many jobs now automated, and humans supplanted by machines, there’s no longer a set path for some individuals.
The article suggests that we, both as individuals and a society, need to become changemakers. What’s a changemaker? According to the article, “Changemakers are people who can see the patterns around them, identify the problems in any situation, figure out ways to solve the problem, organize fluid teams, lead collective action and then continually adapt as situations change.”
Sounds like a tall order, right? My guess, however, is that your dealership already has employees with this desire, but it may not have been harnessed. It could be a manager, salesperson, technician, service advisor, or even the porter.
To harness this latent talent pool, you need to build a bottom-up culture. Remember, your employees want to see you “walk the talk.” If you are serious about improvement, everyone should be empowered to make suggestions and initiative should be rewarded.
Toyota’s famous continuous improvement philosophy relies on practitioners identifying “Muda,” otherwise known as waste, and then “kaizen-ing,” or improving the process. The trick is to get everyone at your dealership to become Kaizen agents. Empowering everyone is simply a matter of accepting ideas, executing them and then recognizing the improvement through visual means that others notice.
Your employees are your most valuable assets. Every employee has a drive inside them to make a difference. Engaging them in this way will get them to be more committed and they will stay longer.
Take the leap and change the culture of your company so that everyone becomes a change agent!
Ujj Nath is the Founder and CEO of myKarma (www.mykaarma.com), the cloud-based conversational commerce software that’s revolutionizing the auto service industry. He has 25 years of experience as an entrepreneur and automotive industry executive.
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The Future of Service: A World Without Paper
If you haven’t noticed, a revolution is happening in our society. More and more businesses are going paperless. Airlines issue boarding passes via, email, text message or through a mobile app. Sporting and entertainment tickets are increasingly delivered via email or through a mobile app. Most credit card companies and banks send electronic statements and incentivize customers to go paperless. The list goes on.
Why are these companies doing this? Because it saves them money and it’s more convenient for the customer!
How many storage areas does your dealership need to maintain the mounds of documents between sales and service, while remaining compliant? All those signed contracts, repair orders, invoices, etc., add up. And you must put them someplace, protect them from floods and fire. In addition, let’s not forget the rising cost of paper.
I’ve spoken to plenty of dealers and service managers seeking to go entirely paperless in their service drives by the end of 2018. They want the ability to email invoices and receipts and are even looking at installing kiosks in their service waiting areas for customers to arrange their own shuttle rides.
Consumers increasingly use apps to make their lives more convenient. For example, some large hairdressing chains have the option to check-in prior to showing up; in effect, reserving the customer’s place in a virtual line.
Go to Nordstrom, or an Apple store, and buy something. The sales rep can ring up your purchases, accept payment on a mobile device and email you your receipt. This makes the transaction much faster, more efficient and saves the business money. You no longer have to wait for the receipt to print, or for the printer to run out of ink or paper, making the wait even longer!
The future is already upon us. The automotive industry is slowly coming around with technologies allowing some paperless transactions -- but it’s not quite there yet. Eventually, consumers will require these interactions to be done electronically – as that is what they can do everywhere else they shop and receive service. Dealerships will either be ready for that permanent mind-shift or find themselves scrambling to catch up.
Which group do you want your dealership to be in?
Ujj Nath is the Founder and CEO of myKarma (www.mykaarma.com), the cloud-based conversational commerce software that’s revolutionizing the auto service industry. He has 25 years of experience as an entrepreneur and automotive industry executive.
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Why Are We Using Smoke Signals to Communicate with Customers?
We’re failing. Consumers have moved on yet we’re still trying to do the things that we’ve always done. Fast and efficient communication with consumers is vital to maintaining and growing your dealership revenue. However, many dealerships keep hanging on to the old methods they have grown comfortable with: phone calls and emails. While these both are useful and should certainly be continued, these methods of communication simply do not allow customers to communicate as effectively as they used to.
Take a look at these statistics from Business2Community. According to Google, 70 percent of online traffic is from a mobile device. Realizing consumers’ choice of communication methods have changed, Google introduced Click-to-Call. Then more recently released messaging on mobile sites for consumers to communicate with businesses via text messaging.
Facebook has also enabled text-based communications in ads. In fact, most major retailers now have some sort of text-based notifications – from delivery services such as UPS and FedEx texting delivery updates, to airlines texting flight status updates and enabling boarding passes via text, to online retailers texting order status updates.
Do you really think all these major businesses would spend the time and money to implement and use texting platforms if they didn’t think customers would use it, and are not seeing results? No. There was plenty of testing, planning and focus groups involved. In the end, text messaging won. In fact, if your dealership turns on texting on your business page, you will see that the CTA for customers is texting… not phone calls.
Join the party and take the lead with customers at your dealership. They want to communicate through text. But, many dealerships aren’t equipped to correctly handle this form of communication, especially not in a two-way capacity. Yes, there are a lot of compliance and regulatory issues when it comes to text-based communications. But there are excellent services available that can safeguard your dealership and ensure compliance.
You want to communicate with your customers and, quite frankly, they want to communicate with you. Make sure all of today’s communication options are on the table, so that your customers can communicate and do business with you in the most efficient and desirable way THEY choose. As a result, your staff will produce more while doing less.
Ujj Nath is the Founder and CEO of myKarma (www.mykaarma.com), the cloud-based conversational commerce software that’s revolutionizing the auto service industry. He has 25 years of experience as an entrepreneur and automotive industry executive.
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Do You Care How You Receive Your Customer’s Money? You should!
The way consumers can pay for goods has dramatically changed over time. From bartering, to cash, to checks, to debit cards, all these shifts had one thing in common: More convenience and reduced friction.
Well, what are consumers doing now?
According to an article on Entrepreneur.com, consumers are increasingly choosing mobile payment. Which makes complete sense since 71 percent of all time spent online is via a mobile device. And, according to Google, over 50 percent of all search queries are initiated via a mobile device. In fact, the data in the article suggests that in-store mobile payments will reach $503 billion and mobile wallets are expected to surpass the use of both credit and debit cards by 2020. That’s only two years away. This shift is happening now!
Today’s smartphones have increased security measures with biometric locks such as fingerprint and face scans now trumping passwords or pin numbers. Because of this, consumers increasingly trust their phones to store sensitive information. Apple, Android and Samsung have all integrated mobile wallets, as have many retailers, allowing customers to pay for purchases without ever taking out their wallets.
We may end up in a future where wallets no longer exist. The easier you make it for a customer to give you their money, the more of it you’ll end up getting – and much faster. Mobile wallets now go far beyond point-of-sale as payments are moving away from POS and into smartphones via the cloud.
Doesn’t it make sense to let a customer give you their money before they get to your store? Our progressive dealers receive as much as 28% of customer payments over mobile, prior to picking up their vehicle. Starbucks and many other retailers already allow this form of payment as it saves time and offers the ultimate in convenience for today’s busy customers. You can even do all your grocery shopping online, pay online and just drive to the store where it is ready and waiting for you. Their staff will even load it into your vehicle!
To make it easy and convenient for customers is why these retailers have implemented online payment programs. Customers want to save time, not spend more of it. But they are willing to do the opposite – spend more money to save more time.
What are you doing to take advantage of this trend in your dealership?
Ujj Nath is the Founder and CEO of myKarma (www.mykaarma.com), the cloud-based conversational commerce software that’s revolutionizing the auto service industry. He has 25 years of experience as an entrepreneur and automotive industry executive.
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