Twenty-two year automotive veteran and well-known innovator of the industry’s top data, content and digital marketing solutions, Michael Benavides, has joined Xcite Advertising to lead its next generation of product innovation and revenue growth.
Chicago-based Xcite Advertising is the leading provider of vehicle merchandising solutions for thousands of dealerships in the U.S., including the largest public and private dealership groups. Each day, Xcite’s nationwide team creates and distributes compelling, OEM-compliant digital media assets, vehicle descriptions and marketing content that motivates both online and on-the-lot car shoppers.
Most recently, Benavides lead data strategy for CCC Information Services, who last year was sold to private equity firm Advent International in a deal estimated at $2.7 billion. Prior to that, he created and managed data and software syndication businesses for ADP Dealer Services (now CDK Global), Autodata Solutions (now Chrome Data) and Edmunds.com. In that time, he established long-standing partnerships with nearly every automaker, major dealership service provider and automotive media publisher.
Benavides will lead the company’s business enterprise sales strategy and is tasked with diversifying its products, including expansion into spin technology, next-generation vehicle merchandising, lot-logistics management, and other new revenue streams. He’ll also focus on further expanding Xcite’s target markets by developing strategic relationships with automakers, lenders, dealership service providers and remarketers.
“My entire career has been focused on overcoming the many challenges that complicate and add expense to the car buying process,” noted Benavides. “Xcite is perfectly positioned to produce and distribute the most accurate and engaging vehicle merchandising content to the industry – and thereby eliminating key roadblocks to effective vehicle marketing and a wide variety of ecommerce transactions. The company will be launching a diverse, innovative lineup of products and services that will appeal to nearly every facet of the automotive industry.”
“As the automotive industry begins to deploy fully digitized car shopping solutions for the next generation of buyers, there is urgent demand for engaging and interactive content coupled with hyper-accurate vehicle descriptions,” explained Phil Penton, CEO of Xcite Advertising. “Having worked with Michael for nearly two decades, I value his deep understanding of the industry’s dynamics and challenges, plus his impressive track record of creating data and software solutions that have been adopted by nearly every OEM and dealer-retailer.”
Phil continued, “His addition to our growing team will further fuel our growth and increase Xcite’s primary mission to help OEMs and retailers accelerate vehicle sales.”
About Xcite Advertising
Xcite Advertising’s expertise in creating, managing and syndicating a wide array of vehicle media, data and physical merchandising content for retailers and their digital marketing partners nationwide has transformed it into one of the fastest growing solution providers in the automotive industry. Contributing to this growth is the company’s continued investments into new innovations designed to increase digital and on-the-lot engagement with car shoppers, improve the operational efficiencies of car retailers and remarketers, as well as to facilitate accurate and reliable transactions for sellers, lenders and insurers.
Xcite has already begun its nationwide rollout of one of its newest products, SPIN. SPIN automatically converts a series of photographs into an interactive virtual reality experience for the consumer. By displaying 360° motion-enabled views of a vehicle’s exterior and interior with interactive hotspots that are tagged and linked to additional content, Xcite enables car shoppers to immerse themselves in a shopping experience that is as entertaining as it is informative.
In the coming months, Xcite will debut its newest software and operational-auditing solution called LotgisticsTM, a platform designed to help dealerships optimize the vehicle acquisition-to-retail lifecycle.
Meanwhile, an increasing number of companies in various sectors of the industry have discovered Xcite’s unique data management services that enable hyper-accurate vehicle identification and provide detailed feature, option and color descriptions that no other single provider can offer. The result is a dataset that can enable an enriched search and purchase experience for the growing base of tech-savvy consumers, as well as provide accurate pricing and features insights for all buyers and sellers of vehicles industry-wide.