The pandemic has been “the Great Disruptor”. It changed everything – notably, consumer purchase preferences, acquiring and selling inventory, advertising and marketing. It accelerated technological growth, while leaving many behind. And one thing is certain, the used vehicle landscape will continue to evolve.
Getting caught up in this industry can be complicated – not to mention getting ahead.
Attending an industry conference can give you a variety of advantages over less well-informed, connected competitors.
Going to the right conferences can help you streamline operations, maximize profitability and give you a leg-up on the competition. Here are five key reasons you should attend your industry conference.
Invest in Your Future
The advantages you can gain through participating in an industry conference are numerous. You’ll get access to many connections, deals, and experiences beyond the reach of people who don’t attend. But the most obvious reason to attend your industry conference is that the return on investment is positive.
The right connection made at a Finance Fair at conference can pay dividends.
The discovery of a new product or service in the Expo Hall that cuts your expenses or increases marketing returns can easily pay for your trip.
You can discover that one cutting edge-insight or technique shared by a speaker in an education session that will change the game for you. You don’t know what you don’t know.
The sum total of the aforementioned equals, at a minimum a positive return on investment, and, at a maximum, huge shifts in profitability.
Networking Opportunities
The wider your network of industry connections is, the more resilient your dealership will be as it grows. Conferences can help you connect with suppliers, fellow dealers, and industry giants to ensure the stability and viability of your business model.
During conversations with the people you meet, you’re likely to find out about an idea or two that you can adapt to improve your business.
When you attend, you’ll be entering a social atmosphere conducive to innovation, growth, and profit. After you meet people at a conference, you can set up collaborative efforts that can greatly increase prospects for you and those you network with. You can even use your connections to recruit new employees when your dealership needs them.
Be Inspired
You can find plenty of ideas to get your creative juices flowing at a business conference. These events are a meeting of minds filled with like-minded professionals who are passionate about their industry and teeming with ideas. If you have a new idea that you aren’t sure how to fully implement, you can often find the answer among the industry veterans and other attendees you speak with during a conference.
During these events and groups, you can practice your communication skills and learn new ways to reach out to your customer base and community. You can also find out how to maximize your gains while minimizing fees, taxes, and other expenses.
Panel discussions are available at many conferences as well. These open forums encourage further conversation, inspiration, and growth. Keynote speakers are often big drawcards at industry events as they bring their inspiring stories and/or comprehensive knowledge direct to the audience.
Go To a Nice Destination and Have Fun
Dealer industry conferences aren’t all about work. While you soak in proven-profit-increasing techniques, you can have fun at an interesting location that’s packed with fascinating things to do.
While at a conference, you can take a break and enjoy some time away from your usual routine. You can also reduce your stress by exploring a new place, a new culture, new food, and new activities to bolster your physical and mental health.
Learn the Latest Trends and Knowledge in Your Field
Gaining cutting-edge knowledge and learning about the latest trends and what car buyers want will help set you up for success. The more you hear about the experiences of the dealers around you and their methods of overcoming obstacles, the more you’ll be able to adapt to difficult situations as they arise.
Those who attend industry conferences are often the first to hear about innovations in business operations, customer interaction methods, and technological advancements. In short, the more you learn, the more you can make in the future. This information is constantly evolving and changing, so it’s a good idea to stay up-to-date by attending a conference every year.
Conferences offer exposure to new ideas. Ideas that can help you comply with changes in regulations, keep customers satisfied, and encourage people to come back to your dealership again and again.
2022 NIADA Convention & Expo
The 2022 NIADA Convention & Expo will take place at the magnificent MGM Grand Hotel and Casino in Las Vegas, Nevada. Along with sharpening your business skills, you can gamble, catch a show or two, and explore the beautiful landscapes around Las Vegas.
