Leveraging Reviews to Impact the Bottom Line

723 views

Published on

Jack Simmons' workshop at the recent Digital Dealer conference May 7-9, 2013, featured best practices from the dealership marketing pros at Tom Wood Toyota, Maguire Automotive and Greenway Dodge, including strategies for responding to reviews and promoting your reputation to win more shoppers and close more sales.

Published in: Automotive, Business
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
723
On SlideShare
0
From Embeds
0
Number of Embeds
38
Actions
Shares
0
Downloads
14
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide
  • Understand how consumer generated content influences shopping behavior Learn potential financial impact of a dealership’s online reputation in sales, service and F&ILearn Strategies for recruiting, training, and compensating for reviews success Understand how to foster a reputation-driven culture, from processes to rewards Identify opportunities for cost-savings from reviews, including process improvement & staff retention
  • Wendy starts then every other
  • Wendy starts then every other
  • Wendy starts then every other
  • Wendy starts then every other
  • Wendy starts then every other
  • Wendy starts then every other
  • Wendy starts then every other
  • Wendy starts then every other
  • Wendy starts then every other
  • Why should shoppers choose you?
  • How Jim Ball Pontiac Buick GMC Cadillac overcame an unjustified 1 star review. 
  • Bottom line: reviews drive more conversion, more engagement and are what consumers want.
  • Leveraging Reviews to Impact the Bottom Line

    1. 1. 1Leverage Reviews toImpact the Bottom LineJack SimmonsDealer Training Manager, Cars.com
    2. 2. About Me Jack Simmons◦ Dealer Training Manager, Cars.com◦ 35+ years of automotive retail experience Connect with Me:◦ dealers.cars.com/facebook◦ dealers.cars.com/twitter◦ jasimmons@cars.com2
    3. 3. the potential financial impact of a dealership’s onlinereputation in sales, service and F&ILearn how to foster a reputation-driven culture, from processes torewardsopportunities for cost-savings from reviews, includingprocess improvement and staff retentionIdentifyhow consumer-generated content influencesshopping behaviorUnderstandGoalsDefine
    4. 4. ObjectivesMonitorListen to feedbackfrom across theinternetShare feedback acrossthe dealershipAskDeliver a positivecustomerexperienceAsk satisfied customersto write a positivereviewPromoteShare positivereviews withprospectsReward sales, servicestaff for successRespond Acknowledge andreply to feedbackCorrect any underlyingissuesat the store
    5. 5. I attribute 10-15 percent of total sales permonth specifically to customers who comein after reading reviews. Another 30-40percent are likely influenced by them.-Brian HefnerGeneral Manager, Tom Wood Toyota
    6. 6. 6Visitors who read a reviewconsumed, on average,2.2times more pages per visitWhat We Know About Reviews In 2012…Source: Cars.com Internal Reporting
    7. 7. 7Visitors who read a reviewconsumed, on average,2.2times more pages per visitWhat We Know About ReviewsAnd spent2.13times longer on the site In 2012…Source: Cars.com Internal Reporting
    8. 8. 8Visitors who read a reviewconsumed, on average,2.2times more pages per visitWhat We Know About ReviewsAnd spent2.13times longer on the siteOn average,40%of reviews were read on a visitor’sfirst visit In 2012…Source: Cars.com Internal Reporting
    9. 9. 9Visitors who read a reviewconsumed, on average,2.2times more pages per visitWhat We Know About ReviewsAnd spent2.13times longer on the siteOn average,40%of reviews were read on a visitor’sfirst visit…meaning60%are read on subsequent visitsSource: Cars.com Internal Reporting
    10. 10. 10Submitted3.4times more email leads thanvisits that did not read a reviewWhat We Know About Reviews Shoppers who read reviews:Source: Cars.com Internal Reporting
    11. 11. 11Submitted3.4times more email leads thanvisits that did not read a reviewWhat We Know About ReviewsSubmitted4.2times more chat leads than visitsthat did not read a review Shoppers who read reviews:Source: Cars.com Internal Reporting
    12. 12. 12Submitted3.4times more email leads thanvisits that did not read a reviewWhat We Know About ReviewsSubmitted4.2times more chat leads than visitsthat did not read a reviewViewed4.1times more Map & Directions pages Shoppers who read reviews:Source: Cars.com Internal Reporting
    13. 13. 13Submitted3.4times more email leads thanvisits that did not read a reviewWhat We Know About ReviewsSubmitted4.2times more chat leads than visitsthat did not read a reviewViewed4.1times more Map & Directions pagesViewed5.4times more Driving Directions pages Shoppers who read reviews:Source: Cars.com Internal Reporting
    14. 14. 14Submitted3.4times more email leads thanvisits that did not read a reviewWhat We Know About ReviewsSubmitted4.2times more chat leads than visitsthat did not read a reviewViewed4.1times more Map & Directions pagesViewed5.4times more Driving Directions pages Shoppers who read reviews:Visited5.9times more dealer websitesSource: Cars.com Internal Reporting
    15. 15. 18onaverage25Ifyoungerthan 34Source: GoogleShoppers Use More Sources
    16. 16. How Has Consumer ShoppingChanged?
    17. 17. The Loyalty LoopSource: “The Consumer Decision Journey” McKinsey Quarterly, June 2009
    18. 18. RatingVolume(4.7)(3.1)Which Dealer Would You Choose?
    19. 19. Your Brand Online How are you communicating your dealership’sbrand strategy through the channels you own?
    20. 20. Why Brand Matters More NowThan Ever
    21. 21. Tom WoodToyota
    22. 22. Maguire Promotes Reviews inRadio Spots
    23. 23. Communicate Your Value
    24. 24. Promote Your Reviews
    25. 25. What happens when youdon’t deliver on thebrand value youpromised to provide?
    26. 26. Dealer Review ImprovementProcessPubliclynotifycustomerObjectivelyanalyzereviewsInspectrelatedprocessesImplementprocessimprovement
    27. 27. How jetBlue Made it BetterYou deserved better –a lot better – from uslast week, and we letyou down. Nothing ismore important thanregaining your trust.-David G. NeelemanFounder and ChiefExecutive, JetBlue
    28. 28. How One Dealership Overcamea Negative Review
    29. 29. Great Response ProcessListen andAcknowledgeTake theConversation Offline
    30. 30. Leadership andCulture Influence
    31. 31. A Reputation-Driven CultureStarts at the TopConrad [GM] gotbehind me 100percent.-Ricky LopezInternet SalesDirector, Greenway Dodge
    32. 32. The Buck Stops Here
    33. 33. Recruiting and Training
    34. 34. Top Employee
    35. 35. Compensating for ReviewsIn order to receive abonus, each salesperson at Greenwaymust obtain threereviews per month.
    36. 36. Staff Incentives Bonus for Maguire Automotive for eachpositive review the sales consultant receives.
    37. 37. The Bottom LineSeldom do good hires turnbad, or bad hires turn good.Impress upon your store’sleadership team theimportance ofrecruiting, training andcompensating the rightpeople.Source: The Hiring Process: recruiting, Interviewing and Selecting the BestEmployees, Purdue University, 2005
    38. 38. Consider This…How much would your store pay for a goodemployee?What effects have you seen from a bad hire?◦ How much would you pay to avoid that experienceagain?How much is honest feedback worth to you?Source: The Hiring Process: recruiting, Interviewing and Selecting the BestEmployees, Purdue University, 2005
    39. 39. If two to three employees starttogether, the ones that get reviews willquickly go from selling six to nine cars permonth to ten plus.-George DunnDirector of BDC, Maguire AutomotiveMaguire Automotive Sees ResultsImpact the Bottom Line
    40. 40. RecapMonitorListen to feedbackfrom across theinternetShare feedback acrossthe dealershipAskDeliver a positivecustomerexperienceAsk satisfied customersto write a positivereviewPromoteShare positivereviews withprospectsReward sales, servicestaff for successRespond Acknowledge andreply to feedbackCorrect any underlyingissuesat the store
    41. 41. Consumers who read reviews on Cars.com aremore engaged: they spend twice as much time on site andview twice as many pages.2xVisitors to Cars.com who read reviews are 5x more likely tocontact a dealer.5x91% Price isn’t everything – 91 percent of shoppers said theywould use reviews when deciding on a dealership.Managing Your Reputationis Good for You!Source: Cars.com Internal Reporting, DriverSide/Kelton Research Study, April 2011
    42. 42. Questions?

    ×