IS20G11 - Turn Up the Volume! 3 Rockstar Tactics to Close More Deals with Commerce - Matt Weinberg
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Dealers that use ecommerce have a competitive advantage. 9 out of 10 shoppers are more likely to buy from a dealer that offers ecommerce. How can you fully capture this demand to increase your sales volume? Incorporate ecommerce into your BDC and sales processes. Attend this session to learn 3 proven tactics to close more deals with ecommerce. Key Takeaways: -Explore ways to upgrade your customer experience and win over today’s car buyers -Discover how building ecommerce into your BDC and sales processes can boost profit per vehicle by $700 -Learn how to leverage ecommerce to close more deals
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IS20G11 - Turn Up the Volume! 3 Rockstar Tactics to Close More Deals with Commerce - Matt Weinberg
- 1. Title Sponsor Turn Up the Volume! 3 Rockstar Tactics to Close More Deals with E-Commerce Matt Weinberg SVP of Consumer Experience Drive Motors matt@drivemotors.com
- 2. TURN UP THE VOLUME! 3 Rockstar Tactics to Close More Deals with Ecommerce
- 3. Matt Weinberg SVP of Consumer Experience Drive Motors 20 years of leadership experience in the automotive industry Consulted for over 100 dealer groups on internet sales processes and ecommerce Trusted advisor for Wards top 10 dealer groups, including Lithia, Asbury, and Hendrick
- 4. AUDIENCE POLL How many buyers fill out a lead form? A. 53% B. 79% C.26% D.41%
- 5. Source: 2016 Google Survey. 1,500 U.S. car buyers. How many buyers fill out a lead form? C. 26% Only 26% fill out a lead form. What about the other 74%? AUDIENCE POLL
- 6. Upgrade the Experience Roll Out the Red Carpet
- 7. Source: PwC 2018 Customer Experience Survey. 15,000 consumers. Source: 4 Truths of “Connected” Retail. Cox Automotive Future of Digital Retail Study. 2,550 car shoppers. Create a Competitive Advantage ● For 75% of consumers, experience is a key factor in purchase decisions ● 9 in 10 customers are more likely to buy from dealers that offer online checkout
- 8. More Customers Want To Buy Cars Online 0.3 5 2015 0.4 2 2017 % of Customers That Want to Buy Online Source: Beyond the Car. Capgemini Cars Online 2017 Study. 8,000 consumers.
- 9. AUDIENCE POLL Why do buyers choose one dealer over another?
- 10. Source: AutoTrader Car Buyer of the Future Study. 4,002 consumers. Why do buyers choose one dealer over another? B. Price transparency Price transparency is the top differentiator. 90% of buyers expect it. AUDIENCE POLL
- 11. Source: AutoTrader Car Buyer of the Future Study. 4,002 consumers. Buyers Hate Negotiating ● Negotiating is a top source of frustration ● What they truly want is transparency and a competitive price ● Low price and transparent or fair price are the same in the consumer’s mind
- 12. Source 1: Label Insight Transparency ROI Study. 2,000 consumers. Source 2: DealerTrack Truth About Transparency Study. 19,507 lease and retail sale records. Transparency Drives Profit ● 73% of buyers will pay more for transparency ● Realistic online pricing increases gross-profit per car by $785
- 13. Source 1: Customers 2020: A Progress Report. Experience is Key ● Buyers go out of their way for a better experience ● 86% will pay more for a better experience
- 14. Source: MaritzCX 2016 Automotive Dealership Loyalty Study. 12,875 consumers. Experience Can Double Service Revenue Selling Dealer 28% Indepen dent 37% Other Dealer 22% DIY 13% Service Spend of a Very Dissatisfied Customer Selling Dealer 60% Indepe ndent 18% Other Dealer 14% DIY 8% Service Spend of a Completely Satisfied Customer
- 15. The 3 Rockstar Tactics Close More Deals with Ecommerce
- 16. TACTIC #3 Deliver an Unforgettable Encore TACTIC #1 Tune Up Your Website to Win the Sale TACTIC #2 Play Your Message Loud and Clear Use These 3 Rockstar Tactics
- 17. Tune Up Your Website to Win the Sale 17 TACTIC #1 • Price consistently and competitively, online and off • Simplify navigation and menus • Remove “calls to distraction” • Optimize for mobile devices • Make it easy for shoppers to take the next step Streamlined and optimized Too many “calls to distraction”
- 18. Play Your Message Loud and Clear TACTIC #2
- 19. • Use all your marketing channels • Show customers the ease and convenience of ecommerce • Remarket to site visitors with display advertising Play Your Message Loud and Clear TACTIC #2
- 20. • Treat online orders as closed deals • Personalize the experience • Gather outstanding information in advance of delivery or pickup Deliver an Unforgettable Encore TACTIC #3
- 21. Source: Euclid, Inc. Evolution of Retail: 2017 Holiday Physical & Digital Retail Trends. 1,500 consumers. Elevate the Customer Experience • Most customers still want to see, feel, and test drive in person • They want a better experience • Dealers can seize this opportunity with online retailing 0% 20% 40% 60% 80% 18 to 34 35 to 54 55+ Age How often do you visit a store to see a product and then purchase it later online? 75% of the time, Millennials visit a store to see a product, then purchase it online later.
- 22. Questions?
- 23. ENJOY THIS SESSION? Post about it on social media using the hashtag #IS20G! Share some love for your favorite speakers! Title Sponsor Contact Info: Matt Weinberg SVP of Consumer Experience - Drive Motors (561) 926-0455 matt@drivemotors.com
Notes de l'éditeur
- Car buying is changing and More and more customers want to buy cars online.
- One buyer chose Clay Cooley CJDR because they were the only one that offered online checkout of 14 other dealers
- In the next section I’m going to quickly go over what we believe are the 3 pillars to integrating a successful digital retailing solution.
- Whether or not you’re making small or big changes, there are three things that are crucial to helping your business and staff find success with online checkout. We call these the Weapons of Mass Destruction ☺. If you do NOTHING else when you finally choose to integrate a digital retailing solution…you should at least make sure you work to implement these 3 areas. Other
- Use all your marketing channels to showcase ecommerce Paid Traditional -Radio -TV -Print Digital -Facebook -Google -3rd Party Sites Organic -Email -SEO -Social Media Pages -Newsletter -Blog
- Most customers still want to see, feel, and test drive the car in person. But they also want an easier, faster, more transparent experience. And more and more want to buy online, as we can see from the rise of companies like Carvana. This creates a golden opportunity for dealers. They have the expertise, the inventory, and the physical presence to deliver everything customers want in an experience. Build upon the 3 pillars of success to maximize your results from online retailing. You can earn more customers, sell more cars, and increase PVR when you incorporate ecommerce into your overall strategy.