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Managing the Virtual Dealership. Customer Experience is Everything.

Presentation by Bill Egan at Digital Dealer 20 in Orlando, FL on January 21, 2016.

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Managing the Virtual Dealership. Customer Experience is Everything.

  1. 1. Managing the Virtual Dealership Customer Experience is Everything
  2. 2. Changing Landscape In Conclusion… Connecting with your biggest Influencer What Reputation Really Means
  3. 3. Digital Is Disrupting Business As Usual 52 Percent of companies on the Forbes 500 list in 2000 that are now gone as a result of mergers, acquisitions or bankruptcies* *Constellation Research study
  4. 4. “Netflix [isn’t] even on the radar screen in terms of competition.” -- Jim Keyes, Blockbuster CEO • Brick and mortar overhead • Late fees that penalized customers were a large component of the revenue model • Failure to appreciate how quickly a niche idea can have viral appeal • Out of business • No retail locations • Subscription model made late fees unnecessary • More consistent with digital changes and consumer wants • Worth over $39 billion Digital Darwinism
  5. 5. • Outsourced online bookselling to Amazon • Failed to appreciate the rise of e-books and tablet readers • Out of business • Cut into Borders’ customer base • Launched tablets for e-books to strengthen relationship with readers • Worth over $200 billion Digital Darwinism
  6. 6. • Sold its first camera more than 125 years ago • Invented the first digital camera in 1975 • Resisted moving to digital because it worried it would cannibalizes film sales, its core business • Out of business Digital Darwinism
  7. 7. Other Companies And Developments Disrupting Business As Usual
  8. 8. VIRTUAL DEALERSHIP Consumers Are Letting Us Know That Great Digital Experiences Are No Longer A Pleasant Surprise… They Are Expected
  9. 9. Sadly, Maintaining the Virtual Dealership is Often Overlooked
  10. 10. Online Presence Matters to Consumers … A Lot Not Push vs. Pull … It’s Attract vs. Repel 80% of consumers will not frequent a business with unmanaged, negative reviews
  11. 11. Consumers Expect Simplicity and Confirmation From Other Consumers
  13. 13. Dealerships that maintain a positive online presence and get consumers into their facility stand a good chance of closing them Digital Presence Has Never Been More Important For Automobile Dealers More independent research using more digital channels + Less contact with the dealership before visiting - Fewer dealership visits before buying -
  14. 14. Reality of Dealership Life
  15. 15. • Search Engine Results – The first impression • Reputation Management – What people really think about the dealership • Social Media – Humanize the Dealership • Website Optimization – Online Profit Center Building Blocks of the ”Virtual Dealership” SEARCH ENGINE RESULTS PAGE WEBSITE OPTIMIZATION SOCIAL MEDIA REPUTATION MANAGEMENT
  16. 16. MOBILE SOCIAL Three Key Online Trends To Watch In Car Buying
  17. 17. Source: Millward Brown Digital/Google Vehicle Shopper Path to Purchase Study, September 2013 In-Market Shoppers are Increasingly Mobile
  18. 18. The New Expectation
  19. 19.  Influential  Mobile  Accessible  Precision Targeting  Youth-Oriented  Search Engine Results Social Media is Growing in Importance
  20. 20. So Many Choices. So Many Experiences
  21. 21. What Can We Learn From The Way Other Luxury Goods Are Presenting Themselves Online? Email Neiman Marcus Takes an Integrated Approach and Leverages its Content and Messaging Appropriately Across Channels Pinterest FacebookTwitter Website
  22. 22. What Can We Learn From The Way Other Luxury Goods Are Presenting Themselves Online? Louis Vuitton Also Promotes Campaigns Across All Digital Channels Using Mobile, Video and Social Instagram Website Facebook Twitter Pinterest Google+ YouTube
  23. 23. TRUST VALUEPRODUCTS GOAL TONE MESSAGE IN MARKET Convert Urgent Product Value Offer Retain Consider Informational Trust Vehicle Care Lifestyle Future Products Personality / People Integrated Messages DECISION TRIANGLE OWNER/PROSPECT
  24. 24. How to Build Trust & Value SocialWebEmail
  25. 25. Actions Be Where Your Customers Might Be Integrate Your Message Everywhere Use Different Tools and Tones Let Your Personality And Your People Shine
  26. 26. Meet Your #1 Consumer
  27. 27. Name Address URL Phone How to get Google’s Attention?
  28. 28. Optimize the Experience
  29. 29. What Does Google Find? And What Does it Tell Everyone Else?
  30. 30. Why Do Online Reviews Matter? WIIFM? (Moz’s 2014 Local Search Ranking Factors Survey) (such as quality of reviews, star rating, velocity of reviews) contributed 9.8% to local search ranking power IMPROVED RANKING & HIGHER CONVERSION REVIEW SIGNALS SEO Value
  31. 31. Consumer Credibility Why Do Online Reviews Matter? WIIFM? Of Consumers Read Reviews To Determine The Quality Of A Local Business 88% Say Positive Reviews Made Them Trust A Local Business More 72% Trust Online Reviews As Much As Personal Recommendations 88% (Search Engine Land)
  32. 32. +42% Percentage increase in website traffic among most improved performers -58% Percentage decrease in website traffic among least improved performers Positive Correlation Between Increasing And Improving Online Reviews And Increased Website Traffic Top Bottom Rank:
  33. 33. Digital Evaluation Dealer Success Metrics Reputation Management RDR Count CP RO Count RDR Growth CP RO Growth Sales Retention Service Retention Sales Market Share Service Market Share Review of over 90 data points Dealer’s Combined Star Rating Analysis
  34. 34. Digital Evaluation Reputation Management RDR Count CP RO Count RDR Growth CP RO Growth Sales Retention Service Retention Sales Market Share Service Market Share High Correlation with Each Major Reporting Factor
  35. 35. Embrace Changing Consumer Behavior Make sure Customers and Google can find your marketing platforms Actively Build Your Reputation Online Let Your People and Your Personality Be “Your Unique Advantage” In Conclusion…And I mean it this time!
  36. 36. Thank You! Safe Travels Home