After 10-12 years of selling online, Technology, and BDC enhancements, we turned Dealerships into buying centers. The processes we use focus on the 10% of people we can sell now, not the 100% of people we can monetize at some point. We will look at the best practices from around the country at creating experiences in your store that creates new opportunities across the 90% of people you spent money on to interact with you and you did not monetize.
4. Why Is Trust Important?
Discountin
g Becomes
Central
Sales
Cycles Are
Longer
Absence of Trust
Loyalty
Behavior Is
Less Likely
Marketing
Expense
Grows
5. Many Car Buyers Are Still Apprehensive
Least Trusted Professions
Industries With Most Customer Complaints
30,000
25,000
20,000
15,000
10,000
5,000
-
% of Consumers Expressing Distrust
Number of Complaints in 2011
35,000
60%
45%
50%
40%
30%
27% 27%
31%
49%
54%
39%
36% 36% 38%
20%
10%
0%
Two thirds of Millennials believe buying
a car is one of the most intimidating
purchases they can make.
1Better
Business Bureau 2011 data
2Gallup,
Inc. Survey November 26 to 29, 2012
3Wakefield
Research 2010
More than half say that 5
negotiating
a car purchase is worse than a trip
to the dentist.
6. The Local Dealer Does Not Always Get the Business
15% of Purchases Are 30+ Miles Away
The Closest Dealer is Leapfrogged 52%
% New Vehicle Purchases by Dealership Distance
New Vehicle Sales by Dealer Proximity
> 60
30 to 60 Miles, 7.1%
Miles,
8.8%
Closest
Dealer
48%
<15 Miles,
65.6%
15 to 30
Miles,
18.6%
Non-Closest
Dealer
52%
13. Best Practices
•
Understand the customer profile & vehicle requirements
•
Personalize communication with the customer
•
Ask the customer how and when they would like to be contacted