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What 3D Secure 2.0 Is and What It Can Do for Your Dealership

Posted by Justin Parker in MobileCashier | 0 comments

12.02.24

As customers rely on their mobile devices more and more, auto dealerships are increasingly moving their sales online, making secure transactions more business-critical than ever. With nearly half of Canadians reporting being targeted by fraudulent activities, and a 4.5% rise in suspected digital fraud across industries, robust digital security in payment processing has become imperative. 

This is where 3D Secure 2.0 (3DS 2.0) provides a definitive solution. This advanced authentication protocol not only beefs up security but also simplifies the buying process for customers. In the competitive world of automotive sales, trust is key, and 3DS 2.0 ensures peace of mind for both dealerships and buyers. Let’s dive into why every auto dealership should embrace 3DS 2.0 for smoother, safer transactions.

3D Secure 2.0 Explained

3D Secure was created to improve the security of the payment process, specifically for card-not-present transactions. Whether this is off-site or on a mobile device, the program was designed to provide an extra level of identity verification before authorization. 

The biggest improvement of 3DS2.0 compared to 3DS1.0 is the accessibility and user experience, especially on mobile devices. Built with the mobile user in mind, 3DS 2.0 not only improves the customer experience but also increases the security of the standard. 

According to Visa, half of all eCommerce declines are legitimate, so accuracy is important in security. 3DS 2.0 aims to make it as easy as possible for customers to make legitimate purchases while also ensuring your business is protected. 

While this is not a regulatory requirement, it is highly beneficial for any business to implement this security technology. Check out some of the main benefits below.

Main Benefits of 3DS 2.0 

While there are many benefits of enabling 3DS 2.0, here are the top advantages your dealership will see: 

  1. Prevent payment fraud and protect your revenue with decreased exposure to fraudulent transactions 
  1. 3DS shifts liability for fraudulent transactions away from your dealership to issuers or cardholders, further protecting your dealership from fraudulent transactions and chargebacks 
  1. Reduced chargebacks will save your dealership money, hassle and other issues. Merchants reportedly lose an average of $3.75 for every $1 lost to chargebacks. 
  1. Increased security checkpoints make it much harder for your payment system to get hacked 
  1. Fewer people abandon carts due to higher approval ratings, increased payment flexibility and a better experience. Businesses saw a 70% decrease in cart abandonment after implementing it 

Conclusion

With VenueVision, we make it easy for your dealership to become 3DS 2.0 secure in an instant. Are you ready to increase your security and improve your bottom line? Email the VenueVision team today to get started.

Top 7 Reasons to use Digital Signage in 2023

Posted by Nicole Diemert in Digital Signage | 0 comments

27.06.23

Digital signage refers to the use of digital displays to share information, advertisements and promotions, or simply to entertain or enlighten your viewers. It has become a popular tool for businesses across all industries — especially in automotive dealerships. Digital signage offers numerous benefits, including the ability to capture attention, deliver real-time information and promote brand messaging.

As technology continues to evolve, digital signage has emerged as a powerful tool for businesses to create engaging and interactive experiences for their customers. In fact, the digital signage market is projected to reach over $26 billion by 2023, which is a testament to its growing popularity.

Let’s examine seven of the most compelling reasons for businesses to adopt digital signage in 2023.

Richer Content Experience

One of the most significant benefits of digital signage is that it offers a richer content experience for customers. Traditional signage can be limited in terms of the amount and type of content that can be displayed. However, with digital signage, businesses can incorporate high-resolution images, videos, animations and sound to create a more immersive and engaging experience. Moreover, the content can be quickly and easily updated and changed based on different events, promotions and holidays.

Increased Customer Engagement

Digital signage can help businesses increase customer engagement by creating a more personalized experience for their customers. Since digital displays can incorporate real-time status updates, social media feeds, interactive touchscreens and personalized messaging, it can enable customers to actively engage with the brand. This can lead to an improved customer experience, increased foot traffic, and ultimately, higher sales.

Higher ROI

Digital signage can offer a higher return on investment (ROI) compared to traditional signage. For example, digital signage can generate 400% more views than static images, according to a study by Intel. Additionally, digital signage can provide better targeting with user and time specific promotions and messaging, which can lead to higher conversion rates. Businesses can identify which messages are resonating most with customers and optimize their campaigns accordingly. Promoting your current sales or service promotions while your customers are in line to check in or in the lounge waiting for an update, will increase their uptake. In a recent survey, it was shown that 80% of brands that used digital signage for product promotion record up to a 33% increase in sales!

Real-time Information Delivery

Digital signage enables businesses to deliver real-time information and updates to their customers. In your dealership, you can use your screens to display Daily Appointment or Repair Order Status boards to keep your customers informed throughout their service appointment. Digital content can be added to convey helpful information to customers such as directions, department processes and hours of operations. More importantly, in cases such as menu boards which need to display current and accurate pricing, digital displays allow for additions and updates to be made quickly and then pushed live in seconds. This can help businesses better inform and educate their customers, which can lead to better customer satisfaction and loyalty.

Innovation and Differentiation

Incorporating digital signage into your business marketing strategy can help differentiate you from your competitors — and modernize your facility. Digital signage can be a powerful tool to showcase a brand’s unique offerings and create a memorable experience for customers. Furthermore, businesses can leverage technology such as video walls or interactive touch screens to create an even more enhanced, immersive and innovative experience.

Cost-Effective

Digital displays can be an affordable solution for businesses looking to reduce costs and increase efficiency. Using digital displays eliminates the cost of printing brochures, posters and other promotional materials for your business communication. It also reduces the costs associated with the ordering, delivery and storage of these materials, saving money and time for the company. Instead of spending on printing and physical materials, businesses can invest in creating content and graphics for their digital displays.

Environmentally-friendly

Eliminating printed materials such as posters and flyers is not only budget-friendly, it is also environmentally-friendly. Using digital displays for your advertising instead of out-dated posters and banners can significantly reduce the amount of paper and harsh printer inks that are used to produce those types of traditional signage. And that’s not taking into account all the times throughout the year that replacement materials are needed when new promotions and sales events are announced. In addition, today’s digital displays are also more energy efficient and budget-friendly then they have in the years past.

Conclusion

In summary, by leveraging the latest technology and adopting digital signage, businesses can create more engaging and memorable experiences for their customers while also improving ROI. Digital signage provides an opportunity to enhance customer engagement, display targeted messages, time-sensitive promotions, deliver real-time information, and foster innovation and differentiation. As the market for digital signage continues to grow, businesses that adopt this technology now will be able to stay ahead of the curve and remain competitive in their industry.

VenueVision can provide your dealership with a digital signage program tailored specifically for your brand. From fully-managed, OEM-branded content and integrated dashboards, to quality digital displays and powerful media players, we can provide all the elements you need to get you up and running. Contact our team to discuss.


How to Maximize Your Service Department’s Performance this Tire Season

Posted by Justin Parker in autoTEXT, Marketing, TechVideos | 0 comments

04.04.23

As the Spring season blooms, customers are eagerly seeking prompt replacements for their winter tires. With a staggering 72% of Canadians owning winter tires, the demand for tire appointments is rapidly increasing.

This presents an opportunity to optimize your operations and gain an edge over your competitors. By adopting powerful solutions, you can enhance customer and employee satisfaction while ensuring seamless efficiency. Our meticulously crafted and expertly curated tips will help you prepare your Service Department to run like a well-oiled machine. Embrace the full potential of this tire season and maximize your business growth by implementing these best practices and solutions.

Jump To

Early Communication

Make it Mobile

Transparent Estimates

Loyalty and Rewards Programs

Reputation Management

Early Communication

It all starts by being proactive. Executing a perfectly timed marketing campaign that gets customers thinking about changing their tires early in the season will help you maximize shop capacity. The earlier you allow customers to schedule their appointments, the more options you will be able to make available to them. This will remove bottlenecks and allow your service department to operate efficiently and at full capacity.

With a streamlined communication solution, you can easily get your customers scheduled for a time that works for them. That way, they won’t have to wait too long to get their car serviced, and minimize friction for your employees along the way.

But what’s the easiest way to get in contact with your customers? According to market insights, emails and calls are increasingly getting ignored. We have to turn to a better communication channel. The most effective way to communicate with modern consumers is through text messages. Let’s take a deeper look at that.

Make it Mobile

Texting is the preferred communication method for modern consumers. 90% of customers today prefer to receive texts instead of calls. With the average consumer becoming reliant on texting, it only makes sense to communicate with them in their preferred channel. So this busy season, get in touch with your customers through an automotive marketing campaign that they will actually read.

Studies show that 95% of text messages are read in less than three minutes. With such an impactful way of communicating, why stop at simple reminders? Use this as an opportunity to let your customers book and check in for their appointment directly on their phone!

Instead of busying your phone lines with confirmation calls or playing phone tag with your customers, mobile check-ins can make this an efficient process. Customers can confirm their appointment no matter where they are — all from their phone!

Not only does this make the process so much easier for you and your customers, but it can also drastically reduce the number of no-shows you have by giving them timely reminders before their appointment. This allows your customers to easily indicate they need to cancel or reschedule an appointment they can’t make. It also makes it easier for your service department to utilize its schedule to the fullest. You’ll now be able to fit in as many appointments as possible!

Service reminders are also a great opportunity to let your customers know about the option to Service Now Pay Later. They can take time to consider this option from the privacy of their phone instead of waiting until they pick up their vehicle to find out about their purchasing power.

When they confirm their appointment, they will have the opportunity to explore the option of paying in installments for their vehicle servicing or even purchasing new tires. Now they won’t have to choose between driving a safe vehicle or paying for a service in full.

Transparent Estimates

Once your customer checks in, clear and convenient communication shouldn’t stop there. You can also maintain that vital transparency with your customers by delivering professional, trackable estimates directly to their device.

While many customers will just come in for a tire change, your technicians might notice they are in need of brake service, wheel alignment, or have an underlying issue with their vehicle they were unaware of.

While you want to keep your customers safe by keeping their vehicles in the best shape possible, you also want to keep your customer informed the entire time their vehicle is in your care.

For transparency, utilize a solution that allows you to text professional branded estimates directly to your customers. This way they can see an itemized breakdown of the services recommended. Reinforce your estimates with VenueVision’s TechVideos app which allows your technicians to provide a detailed explanation for their recommendations by easily attaching photos and videos to estimates.

This detailed breakdown gives customers the opportunity to approve or defer services. Now you won’t have to waste time waiting for a call-back to get started on servicing a customer’s vehicle. Since your customers will have visibility throughout the entire process, you will increase customer approvals, retention and satisfaction while you drive customer loyalty and boost your overall Repair Order Values.

Loyalty and Rewards Programs

If you can gain your customers’ trust through transparency, you’ll earn loyal customers. But if you really want to hammer home customer retention, then you might want to consider offering a loyalty rewards program to make you their dealership of choice.

Everyone loves a good rewards program, so it’s no wonder that more than 90% of companies offer them. Why not join the club and give your customers another reason to come back to your dealership?

A loyalty program is a surefire way to incentivize your customers to return so they can redeem their rewards and save on future service.

Once you start to earn loyal customers, you will want to make sure they stay that way. The easiest way to do that is by using an automated reputation management tool that will help you ensure your customers have a great experience every time they come to your dealership.

Reputation Management

Sending timely automated service follow-up messages allows your customers to share their experience directly with you. This will help you better understand how they view your business. After their visit, customers can rate their service experience right on their phone. So, if there is something they would have liked to see done differently, you will be notified immediately, allowing you to promptly address the situation.

If they give you a positive review, not only will you be able to take advantage by confirming what works well or by rewarding an employee for providing excellent customer service, but the happy customer will also be encouraged to share their positive experience on review platforms. This will help spread the word about the excellent service your dealership provides.

Conclusion

VenueVision has all the solutions you need to create the most transparent and efficient service department, from the moment your customer checks in through aftercare.

To make your service department run smoothly this tire season or for any season, deploy VenueVision’s software solutions and take the transparency and efficiency of your service department to new heights, all while your average RO Values and ratings soar!


Service Now Pay Later, a No Brainer in 2023

Posted by venueadmin in Industry News, MobileCashier | 0 comments

11.01.23

After much spending on the Holidays, paying for car repairs is something most consumers would rather avoid in January. Not to mention the economy makes it so most consumers would rather pay in installments on big ticket items if given the opportunity. In this article we will explain why it is crucial to offer your customers payment options for automotive services and repairs.

The BNPL Advantage

Offering Buy Now Pay Later (BNPL) options to customers comes with a major advantage to businesses, and the numbers are compelling. Below are some key statics to consider:

The Economy and Customer Expectations

Paying in installments is a rapidly growing trend in all e-commerce businesses and the automotive industry is not any different. In 2023 customers are expected to be much more cautious about their spending. They will prefer to take their vehicles for services or repairs at dealerships and shops that offer their customers the option to service now and pay in installments. Let’s face it, it’s much easier on their wallets and customer loyalty is significantly impacted by their satisfaction with their experience, including their payment experience.

Everyone Wins with Service Now Pay Later

Paying in installments for vehicle repairs liberates your customers from having to make tough decisions like choosing between making a large lump sum payment or driving an unsafe vehicle. When customers can service their vehicles right away and pay in installments, they are more likely to approve the additional services recommended in your estimates. This will minimize your denied services and increase your bottom line and customer satisfaction scores significantly.

First, it can help you attract new customers. The reality is some customers remain hesitant to take their car to a dealership for service or repairs because they fear “higher costs.” Giving your customers the option to pay in instalments for services performed on their vehicles means empowering those customers to afford the services they need while watching your Average Repair Order values soar.

Second, it can help to increase customer satisfaction and loyalty. When customers are aware that they can pay for their car repairs over time by servicing at your shop, they are more likely to return to the dealership for future services. This can help create a loyal customer base that will continue to frequent your dealership for all their automotive needs.

Third, it can increase the average Repair Order Values. When customers can pay for their car repairs over time, they are more likely to approve additional repairs and services that they might have skipped, boosting profits.

Choosing the Right Technology

When choosing a BNPL provider, it’s important to look for a technology provider that caters to and understands the automotive industry. Here are the key characteristics to look for when choosing your provider:

  • Tailored for Service. Embedded in the customer journey from booking through follow up
  • Time. Applications approved within seconds, giving customers plenty of time to consider adding to their Repair Order before arriving at your shop
  • Estimate Approvals. Flexible payment options drive higher customer approvals
  • Customer Privacy. Applications and approvals from the comfort and privacy of the customer’s own device Increase Revenue & Retention Higher average repair values & a major reason to return Kind to Customers Considerate of Customers circumstances and needs

By partnering with the world’s largest third-party financing company, VenueVision has created the first Service Now Pay Later technology stack made to meet the specific needs of automotive dealers and their customers. VenueVision’s technology revolutionizes the traditional automotive service experience by immediately providing customers with greater purchasing power early in their service process. Providing customers with the option to pay in installments for their vehicle service is a game changer for dealerships, and its risk free.

In Summary

In conclusion, offering Service Now Pay Later options to dealerships can provide a much-needed lifeline for many motorists, especially those who are struggling to make ends meet. It will attract new customers, build customer loyalty, and increase repair order values and revenue for service departments.



2023 Trends: Focusing on Customer Service Experiences

Posted by Nicole Diemert in Industry News | 0 comments

10.01.23

Congratulations on successfully sailing through 2022. It’s now time to set your sights on the challenges and opportunities that 2023 has in store. A new year is an opportunity to reflect on how your business performed the previous year and consider what steps can be taken in the new year to enhance and strengthen those results.

Grading your company’s success can be based on several aspects, and not all of them are measured in dollars. Of course, you will always want your business to grow financially year after year, but growth can be measured in several other ways.

Has your business grown technologically to keep up with the changing ways your customers prefer to do business? Has your staff grown as a team, working positively toward business goals? Have you increased your customer database or increased the number of returning customers?

Based on growing demand for heightened customer service, 2023 looks to be focusing on the full digital customer service experience. If you are looking for ways to improve some or all the areas mentioned above, this year’s trend in customer service will help you succeed. Here are the top five ways you can improve your processes:

1. Present an Omnichannel Experience

69% of customers want a consistent experience with a company across all physical and digital channels. This requires businesses to use technologies that build more connected environments to handle this level of customer service. Imagine bringing together multiple departments of your dealership and communicating through one channel.

Staff can connect with a customer regarding a vehicle purchase, a parts order, a trade in appraisal, a service update or estimate. Continue to connect all the way through to sending video for review, scheduling a shuttle and final payment. Finalize that journey with service follow ups, satisfaction reviews and timely reminders of missed or deferred service. The streamlined and consistent experience your customers will encounter will be remembered and appreciated.  

2. Getting Personal

Personalized experiences rank at the top with what customers find as an important decision-making factor when selecting companies they want to do business with. And the numbers speak loud and clear. 72% of customers say they only engage with personalized messaging. (Forbes) while 80% of companies report seeing an uplift since implementing personalization (Econsultancy).

Personalization in your messaging and timing of delivery is essential. Connecting at specific moments in the customer journey will increase overall satisfaction, reviews, customer retention and loyalty — and most likely ROI. Automation will be the key to enhancing personalization and increasing its power in the customer service experience.

3. Moving from CX to TX

2023 will see companies thinking about more than just the customer experience (CX) and moving towards focusing on the Total Experience (TX). It will become crucial to consider every part of the experience journey to provide a truly full and satisfying experience. 52% of consumers agree that as digital experiences with brands become more personalized, their satisfaction improves. (State of Personalization)

This level of personalization may require investing in innovative technology. Supplying options to support and engage your staff will make their jobs easier and more productive. Adding technology such as digital signage to inform and entertain your customers will provide an enhanced visual experience. Incorporating solutions and software to simplify processes, communicate in real-time and provide services to customers — regardless of where they are physically.

4. Transparency, transparency, transparency

To provide the ultimate customer experience, your team will need to be transparent in all their communications. 60% of customers say trustworthiness and transparency are the most important traits of a brand (Twilio Segment). Customers genuinely appreciate being kept in the loop regarding status of orders or service repairs. They value honesty and truth.

This can come in the form of timely updates for delivery or being transparent about delays or challenges you are experiencing. It can be a breakdown of pricing or providing videos highlighting areas for recommended service repairs. It is proven that providing information that allow your customers to make informed decisions, while respecting their time, will increase appreciation and loyalty.

5. Respecting Privacy and Security

In 2023 and going forward, businesses will need to keep up to date with providing secure and safe storage of customer data. More importantly, using their customer data efficiently, securely, and correctly. The average consumer is increasingly aware of how their personal data is handled and demands the highest level of privacy and security. Customers want personalized experiences and are willing to provide their data to get it.

Seven out of ten customers are comfortable with personalization, if brands use their own data. (The State of Personalization). Being able to send personalized messaging to mobile devices, with the ability to pay remotely, securely, and efficiently with safely stored personal data will provide the ease and assurance that customers are looking for in these fast-paced, mobile environments.

This year, as in previous years, customer service and customer experience are still top priorities for you as a business. Now, more than ever though, customers have varying levels of trust and expectations when it comes to interacting with businesses. Your dealership will need to ensure that you are putting their security, privacy, experience, and service first.

In summary, developing a strong customer experience strategy in 2023 means fully understanding your customers and their expectations. It will mean embracing and using innovative technologies and software that will provide the all-encompassing level of customer service that will make you stand apart from your competition. And doing so, will also help make it efficient and enjoyable for your staff to provide that experience. Find out how VenueVision’s software and digital solutions can help you stay ahead of the quickly evolving customer service experience trends.