Eric Fifield

Eric Fifield, Chief Sales Officer, EFG Companies

Eric Fifield
Chief Sales Officer
EFG Companies

What does the digital retail environment look like?

Consumers have been driving the need for dealers to invest in online sales models for the last few years. However, the technology just wasn’t there. We’re on the brink of automotive retail technology catching up with consumer demand. I believe that over the next few years, we will see dealers more heavily invest in an online sales model. Aside from the logistics of completing a purchase online with the right technology solutions, the role of the BDC will change, hiring and training will change, and data security and fraud prevention will be top of mind.

What are dealers doing to reduce employee turnover?

When it comes to tackling the challenge of employee retention, dealers will need to become career-path strategists. They’ll need to understand how to leverage technology and efficient processes in the sales cycle. The sales presentation process is changing. It’s happening online, in the living room, and in a dealership. These presentations are also being done by younger employees. They want a career path, not just a job. And, just like consumers want flexibility in how and where they purchase a vehicle, this new generation of employees wants more flexibility in how, when and where they work. This fundamentally changes the dealership recruiting model, placing more value on work-life balance than compensation, and requires more flexible pay plans.