Cyber Security in Dealerships

Cyber Security in Dealerships

If you’re not adequately prepared, the consequences of a company-wide data breach can be devastating to both your business and your customers.

A new threat is looming as we enter the digital age of connected vehicles and increased technology throughout dealerships. With the abundance of sensitive and confidential information made readily available, comes the risk of cyberattacks and data breaches. Hackers can strike anywhere at any time. It can happen when you least expect it or without knowing. If you’re not adequately prepared, the consequences of a company-wide data breach can be devastating to both your business and your customers. It can compromise your dealership’s reputation and lead to your customers losing trust in your business. The aftermath of a major breach can also lead to thousands lost in revenue and legal fees, creating one massive headache for everyone affected.

When a customer decides to do business with your dealership, they trust you to safeguard the confidential information they provide such as social security numbers, phone numbers, addresses and even credit card numbers. Gone are the days of low-tech security systems and easy-to-remember passwords, which are no match for an experienced and sophisticated cyberhacker. Cybercriminals can easily hack into your accounts and data systems and steal confidential information if you are not adequately protected.

Implementing additional cybersecurity measures in your dealership can seem daunting and overwhelming. Where do you start? How can you properly guard the most vulnerable information your business handles in this tech-driven world?

Consider signing up for an all-encompassing data breach protection plan that includes protection from identity theft and data breaches for your dealerships, employees, customers and families. With pre-breach protection and preparedness services such as complete package ID theft protection and monitoring for dealership owners, employees and members of their immediate family sharing the same address, dark web breach alert monitoring, dark web business credential monitoring, and breach prevention and data security education and training, your dealership will be prepared for almost any cybersecurity threat that may strike.

To guarantee the best value for your dollar, try to seek out a protection plan that also includes breach response services such as breach notification service (instant postal or email notifications to victims), two-year breach victim identity recovery and monitoring services, black market monitoring for victims, 24/7/365 breach response center to report breach events, breach response coordination service, call center coordination service, legal referral service, law enforcement coordination service, and more.

At a low annual cost to your dealership, a data breach and identity theft protection plan such as this will pay for itself and then some in the event your dealership is compromised. By implementing this protection, your customers and employees can remain confident in their decision to work with you and will continue to view you as a reputable dealer and employer. Taking measures to increase your dealership’s cybersecurity will increase your credibility and give your location a competitive edge over other dealers. Be proactive when it comes to your cybersecurity. Don’t wait until it’s too late. Get ahead of the game and arm your dealership with the necessary protection to tackle even the most challenging data breaches.

You May Also Like

How AI and Automation Revolutionizes Dealer Sales Operations

Powering sales operations with AI and automation gives dealers an outsized advantage in their market, getting sales from shoppers they never thought possible.

Today, 80-95% of the shoppers at dealerships across North America go unsold every month.

And hardly any sales come from shoppers after 30 days. Imagine that. Dealers have spent thousands of dollars generating showroom traffic and leads, yet 85% of them go unsold, and hardly any sales come from shoppers after follow-ups stop. On the other hand, the buyers are still shopping, and nearly 40% buy over the next 90-180 days, just not at that dealership.

Growing New Vehicle Inventory Will Force Dealers to Adjust F&I Strategies

Dealers should consider a marketing budget for their F&I department as the online presence of vehicle protection products will be a key to increased attachment rates.

Dealer-Branded Loyalty Programs

Your customers can feel comfortable knowing the trusted brand they are already familiar with is providing them with extended protection options.

Why More Dealers Are Enabling Sales Staff to Present F&I Products Earlier in the Shopping Process

Establishing a more consistent customer experience between departments is one way more dealers can develop a successful F&I ecosystem.

The Demolition of the American Dream!

How health insurance premiums are eroding company revenues while simultaneously weakening employee purchasing power and what you can do about it.

Dannah Investment - July 2023

Other Posts

CDK Global 2023 Cybersecurity Report Reveals Rise in Dealership Cyberattacks

Fake emails from trusted internal and external sources are posing substantial risks to auto retailers, including IT-related business interruptions, ransom demands, financial loss and damage to the dealership’s reputation.

Redefining Sales in the Modern Era: Trust, Information and Competitive Edge

When salespeople are no longer just transactional facilitators, the sales process becomes more of an informative dialogue rather than a one-sided pitch.

Velocity Automotive
The Power of First Impressions

Professional photographers possess the expertise to highlight a car’s unique features, angles and design intricacies in ways that capture the essence of the vehicle.

Understanding Business Email Compromise — the $43 Billion Scam

BEC and payment fraud are genuine threats to dealerships today. By following these suggestions, you can significantly reduce your risk.