As we look to tell the stories about people and the products that support auto dealerships, Digital Dealer is shining the spotlight on companies that help dealers do their job more effectively.
We recently interviewed Aaron Baldwin, automotiveMastermind Chief Product Officer to hear about his experiences in the industry, how data will drive innovation in the automotive market and being bullish on the electrical vehicle market.
Digital Dealer: What was your first job in the industry, and what did it teach you?
Aaron Baldwin: My first job in the automotive industry was as a detailer when I was 16 years old. The biggest lesson I learned from this job is that if you work hard, you are rewarded. Later in my life, this is ultimately what drew me back to automotive. As a mechanical engineering intern in my 20s, I became exposed to compensation practices that were more centered around tenure than effort and contribution. I wanted to work hard and be fairly compensated compared to my peers for that.
Digital Dealer: What are your proudest accomplishments in the industry?
Baldwin: Growing careers. Recently, I had the opportunity to speak to our 450 Masterminds about my “why.” Why I get up every day, work hard and care about our work product. It allowed me to look back at all the people I supported throughout the years with training, the teams I led at different organizations and the growth many of those folks experienced both professionally and financially, with many of them now in roles like General Managers, Dealer Principals and software executives in automotive.
Digital Dealer: What are you most excited for in 2024?
Baldwin: 2024 will be a year of tremendous innovation. Innovation isn’t just going to be in the vehicles with newer EVs and alternative fuels hitting the market alongside driverless technology improvements, but also in customer data and activating customer data. It is going to be exciting to see how dealers leverage the power of their data to drive an enhanced consumer experience.
Digital Dealer: What trends do you think will have a significant impact on the automotive industry in the coming years?
Baldwin: More companies are starting to open up their systems to become better integrated with others. This continued focus on data and technology integrations will be a welcomed change for dealers and consumers. When properly leveraged with a sound operational strategy, dealers can materially improve the consumer experience with their store and their brands. My hope is that a more streamlined, enjoyable consumer experience leads to shorter trade cycles and, ultimately, more vehicles being sold.
Digital Dealer: Please tell us about your core offerings, any new products or features, and how automotive dealerships are best leveraging those.
Baldwin: The core offerings I’d call out include some of the exciting new product features for our Mastermind technology, like our recently introduced behavior driver for EVs to help dealers move inventory and quickly identify and target those consumers in the market for an EV and why they’re in market. Another new feature we recently released is Turn, which addresses moving aging inventory, driving higher profit margins and helping control floor plan expenses. This allows Mastermind to embed data into critical areas of the dealers’ operational workflow through expanded integrations with digital retailers like CarNow who can surface Mastermind intelligence and insights within their platforms to drive a truly unique consumer experience, completing the journey from demand generation to purchase.
Digital Dealer: Can you highlight any recent innovations or strategies that set your company apart in the market?
Baldwin: What sets automotiveMastermind apart is that we were the company that helped define the data mining sector, but we have outgrown and reimagined what this sector means. Our technology and data are truly the best in the industry and we’ve grown into a tech powerhouse as we have evolved over the past 12 years. Today, we see ourselves as a true data and technology partner for the dealers we work with. One example of this includes our open API for our Mastermind technology, which offers real-time integration and dives deeper with AI to show dealers who is in-market and why, for what, when and how. That can only be accomplished when you have the data science and the depth of data experience we have and that truly sets us apart from anyone else in the industry.
Digital Dealer: What values and principles drive your organization, and how do you ensure they are reflected in the day-to-day operations and interactions within the company?
Baldwin: Our main mission has always been helping dealers sell cars and we plan to lean into our position as a data company that leverages technology to provide predictive analytics, insights and marketing services for dealers to do just that. The auto industry is continuously changing and automotiveMastermind continues to innovate. Our commitment to innovation would be the one value that is most reflected in our day-to-day operations and remains at the forefront of our evolution.
Digital Dealer: Looking ahead, what exciting developments or initiatives can dealerships expect from your company in the near future? Are there specific goals or milestones that your team is working towards?
Baldwin: We continue to invest in innovation and growing our team, specifically focusing on training and mentorship and integrations with other technology providers. These investments allow us to further cement ourselves as a true tech powerhouse that continuously invests in and enhances its technology. We plan to continue empowering dealers to redefine automotive retail sales by seamlessly blending data and intelligence with personalized insights.
Another area we are focused on this year is private offers. Machine learning incentive optimization will continue to be key, not only to boost loyalty but also in conquesting new customers, so we are investing heavily in our ability to use our machine learning algorithm to identify who and how much incentive is needed.
EVs will continue to be a big focus for us. Now that we can provide an indicator on who’s likely in-market for an electric vehicle, we can go a lot deeper with our data and algorithm.
Digital Dealer: What do you enjoy most about your role, company and/or the automotive industry?
Baldwin: This industry is completely fascinating to me in every way. That is why I never left it. I really enjoy being at automotiveMastermind. This company is full of amazing people who can execute quickly on even the most complex problems. We have a culture that I haven’t experienced anywhere else in my career. Combining our team with our access to resources and data, largely due to our parent company (S&P Global Mobility) and sister companies (Automotive Insights, RL Polk, CARFAX and Market Scan), gives us the unique ability to deliver incredible solutions across the entire industry.
Digital Dealer: What advice would you give to someone entering the field?
Baldwin: Our industry, while one of the largest in the country, is also a really tight group. Be proud of what you do and approach every relationship as if you are starting a long-lasting friendship. You never know where someone you met today will be in 10 years. The most successful people I see in automotive have cultivated relationships that last a lifetime.
