By Katherine McDowell
The National Alliance of Buy Here Pay Here dealers (NABD) BHPH Conference was another success this year, bringing together thousands of professionals from all parts of the industry. This year’s conference took place in Orlando, Florida, at the Rosen Centre Hotel, on October 23-25 and included a wide range of speakers and exhibitors. If you were unable to attend, please enjoy our special BHPH Marketplace report!
The BHPH Conference combines a great deal of learning opportunities for industry professionals with knowledgeable speakers, the Exhibit Hall featuring great networking opportunities, as well as breakfasts, lunches, and cocktail parties with fellow professionals. One of the yearly features, of course, is the induction of new members of the BHPH Hall of Fame. That particular event took place on the afternoon of Monday, October 24th and featured two outstanding inductees who have been part of the business for decades. Read the full article here.
Of course, there were vendors specializing in everything from lead conversion and auto finance to GPS tracking and collections, and from parts to dealer management software. All offering informational exhibits and answering questions in the exhibit hall. If you are considering attending the conference next year, let me just tell you that the exhibitors alone are worth the trip. A person can learn enormous amounts of information about their options for handling any and every aspect of their BHPH business, and have all of their questions answered by knowledgeable persons. Many may even learn about products and services they didn’t realize were available!
Even more informative, however, were this year’s speakers. There were presentations on everything from the latest technology to the most beneficial marketing techniques, all of them given by experienced, qualified professionals. The opening session of the BHPH Conference was entitled Getting to the Next Level, and dealt with attracting the best BHPH customers in the current, highly-competitive market. Then there was the long-awaited keynote presentation, Creating Opportunity Through Mental Toughness, on the morning of October 24. Given by Steve Siebold, this presentation centered on using psychology to thrive and prosper in today’s constantly-changing and difficult business world. There was a fascinating informative session, entitled Another Alternative, about Lease Here, Pay Here as viable option in the industry. At 11:00 am, there began the New Technology Showcase, featuring three captivating presenters focusing on three interesting and highly relevant topics. Joe Nieman of ACV Auctions covered how technology can significantly reduce the costs of auctions for dealerships. Anthony-Scott Hobbs of Magnum Contact , whose innovative company offers everything from integrated live chat conversion tools and website platforms to website SEO and social media management, spoke about turning website traffic from bounces to loan applications and appointments. Jon Passumato of Lyft spoke about the ways in which technology is changing the auto industry, and how dealers can embrace it. And all of that was before lunch!
Tuesday afternoon saw conference participants split into different tracts for educational workshops. Track #1 focused upon sales techniques, inventory acquisition, financing, and F&I. On Wednesday morning, Track #1 began with the Regulatory Protectors Panel, which featured representatives from different state dealer associations explaining the rules and regulations involved in their respective states. After that, the track moved on to business finance subjects, including accounting, taxes, and CPI as a means to reduce loses. Track #2 centered around technology solutions, and specifics related to finance such as credit, underwriting, and collections. Wednesday morning saw a continuance of those subjects with sessions on capital solutions, selling contacts, underwriting and debt collection. Both tracks offered hour long cocktail parties Tuesday evening.
On Wednesday, October 25, the NABD BHPH conference wrapped up with a Take-Away session, focusing on applying information learned during the conference, as well as a prize giveaway. Each participant took home a workbook with overview information, a glossary of BHPH terms, space for taking notes, etc. As the new ideas and information garnered from this conference are put to good use, many BHPH dealerships and other industry professionals will doubtlessly expand their businesses.
The date for the next NABD BHPH event has not yet been announced, but will be available on bhphinfo.com when information becomes available.