At NADA 2022, SpinCar announced that the company will be operating under a new name and will be known as Impel. The name change reflects the company’s evolution and growth as well as its focus on driving innovation in automotive retailing.
Devin Daly, the CEO of Impel, discusses the change and what Impel can do for dealers.
For more information, visit impel.io.
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Devin Daly: Obviously, this is the first time unveiling the new brand, as well as the new booth, which is the largest booth we’ve ever had, and we couldn’t be more excited to be back at NADA.
After establishing the category of 360 walk arounds, and really becoming sort of the defacto standard for that type of consumer experience in automotive, we really outgrew the brand SpinCar. We expanded initially from that 360 category, that again, the connotation of SpinCar just really didn’t represent the breadth of that portfolio.
Impel really has a dual meaning that really fits our purpose and mission as a company. Number one, we are driving the industry forward, right, but we’re also impelling a consumer to buy a car from that particular dealer. Five years ago, you couldn’t buy a car online. That transformation is happening now, and we are leading a lot of that digitization.
We really view digital engagement and what we offer as the critical missing piece to effectuate this full kind of eCommerce evolution. Effective, transparent educational engagement is critical to successful digital retailing. We really think of our engagement platform comprised of sort of four main subcategories. First is really our merchandising products. And those are really designed to engage a consumer at a greater level on the website, allow them to interact, drive the experience, understand the sort of quality of the vehicle as well as the features of that vehicle. Beyond that is our communication suite, which leverages best in class natural language processing AI technology to solve various pain points in the dealership. Thirdly is our imaging solution set, and that’s really focused on helping dealers get vehicles online more quickly, ensuring consistency. Imagery is critical in today’s day and age, where people are shopping online, and we’ve got a best-in-class solution set to drive effective imaging.
Last is our marketing solution set. Because we deliver this hyper-rich merchandising experience, it allows us to glean this really granular data about consumer behavior. So what features is someone clicking on? We use that to activate hyper-personalized, tailored ads.
We are beyond excited to announce the release of F&I Pursuit. F&I represents 54% of your average dealership’s gross profit. However, more than 50% of consumers don’t buy an F&I product at all when they’re in the dealership. F&I Pursuit leverages our AI technology to follow up with consumers post purchase. We really trigger F&I campaigns on sort of three events. One is simple post purchase follow up that happens between three and 60 days following the purchase of a vehicle. The second is after the first service and thirdly is a weather change event, right? So when it goes from fall to winter, for example, lots of dealerships are realizing the importance of digital engagement platforms and post purchase F&I follow up.
I think the experience a lot of consumers have today is they buy a vehicle, they build this great relationship. They don’t ever hear from the dealership again. Leveraging AI, we again can manage that entire lifecycle to maximize profitability, but also significantly enhance the consumer experience.