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New Car is Back! Is Your Dealership Ready?

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New Car is Back! Is Your Dealership Ready?

  1. 1. Is your dealership set up for success with today’s new-car shopper?
  2. 2. Laurie Foster • Dealer Training Manager, Cars.com • Over 15 years of automotive industry experienceConnect with Me: dealers.cars.com/facebook dealers.cars.com/twitter Laurie Foster on LinkedIn lfoster@cars.com
  3. 3. Understanding Meeting New- Building and Measuring Today’s Car Shopper Differentiating to Drive Landscape Needs Your Brand Performance
  4. 4. “Auto Sales to Hit 13.9 Million This Year” The Wall Street Journal “Visits to New-Car Content February 4, 2012 Up 34% Year-Over-Year”“4 reasons why F&I will fly in Cars.com 2012” March 2012 Automotive News February 29, 2012 “Auto Sales expected to continue: The trend is Pick Up Pace Despite Rising Gas Prices” 16.3 million units inTimes The New York 2016 March 1, 2012 Source: Cars.com Internal Reporting; Polk Global Automotive Forecast, 2012
  5. 5. Total U.S. New Vehicle Unit Sales (in millions)18 In 2007…16141210 8 6 4 2 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 Year (proj.) (proj) • E-mail was king • Social media was for kids • Reviews were for restaurants • “Mobile” was for phone calls 5 Sources: Bureau Of Transportation Statistics; Polk, Automotive News, J.D. Power & Associates
  6. 6. Total U.S. New Vehicle Unit Sales (in millions)181614121086420 2005 2006 2007 2008 2009 2010 2011 2012 (proj.) 2013 (proj) 6
  7. 7. Today…Nearly half of U.S.to readConsumersmobile online 83% of want car as many as 10own a shoppers reviewsadults follow a retailer via before choosing a localsmartphone, and 28% own Facebook, Twitter business or a blog a tablet. Sources: Shop.org Social Commerce Study, BrightLocal Annual Consumer Review Study, Cars.com: Mobile Web & App Usage for Automotive Shoppers, Nielsen 8
  8. 8. Understanding Meeting New- Building and Measuring Today’s Car Shopper Differentiating to Drive Landscape Needs Your Brand Performance
  9. 9. The information they want…Delivered the way they want it… From a dealer they can trust to deliver a great experience 10
  10. 10. ResearchCars.com shoppers researching new vehicles view more pagesand spend more time on site than used-car shoppers by 40%.Comparison ToolsVisitors to Cars.com who access new-vehicle contentcross-shop an average of four makes, and are twice as likely to filterresults by Dealer Reviews.Info About the Dealer, Not Just the VehicleCars.com users searching for new vehicles are 2.5 times more likely togroup inventory search results by dealer vs. used-car shoppers...thenare 3 times as likely to connect with a dealer! 11 Source: Cars.com Internal Reporting
  11. 11. 68% of consumers considering purchasing a newvehicle are mostly orexclusively shopping brand-new 12 Source: Cars.com/Synovate Online New Car Shopper Study, 2010
  12. 12. Photos / Price / Safety / Comparisons / Reviews Source: Cars.com/Synovate Online New Car Shopper Study, 2010
  13. 13. Top 5 Features in the New-Vehicle Consideration When Price is Not a FactorRank Feature1 Reliability of Vehicle2 Body Style3 Vehicle Safety4 Brand/Make5 Fuel Efficiency 14 Source: Cars.com/Synovate Online New Car Shopper Study, 2010
  14. 14. Tips for Online VehicleMerchandising:▸ Clarify multiple price points▸ Provide detail about options▸ Play up hot models, colors or packages using video, extra photos and extra detail in seller’s notes.
  15. 15. Nearly Nearly 40% of Cars.com’s total new-vehicle searches40% comes from mobile devices. 20% of online new-car shoppers don’t plan to send a lead through a vehicle website; about 2 in 3 of them1 in 5 cited concerns over receiving a phone call or e-mail from a dealership. 28% of car shoppers who used Facebook during the Nearly automotive purchase process added a dealer to their1 in 3 consideration list based on information received via a social media source. Source: Cars.com Internal Reporting; Cars.com/Synovate, 2010 16 Dealer.com/DriverSide/Gfk: THE RISE OF LOYALTY, ADVOCACY & INFLUENCE, 2011
  16. 16. Auto shopping activities performed by new-car shoppers on mobile devices Research Locate Dealers Research / Price / Reviews / Compare / Contact Info 17 Cars.com: Mobile Web and App Usage for Automotive Shoppers (Source: Nielsen)
  17. 17.  Provide the info mobile users want Make sure it can be seen on all devices Tip: howtogomo.com Don’t forget service! Wired Site Mobile Site
  18. 18. 5 Tips for Social Media Greatness1. Set (realistic!) goals and develop a strategy to attain them.2. Set guidelines for your staff.  Check out www.charleneli.com3. Have a plan to build your audience.4. Content is king!  Tip: Don’t recreate the wheel.5. Participate in your own conversation. 20
  19. 19. Understanding Meeting New- Building and Measuring Today’s Car Shopper Differentiating to Drive Landscape Needs Your Brand Performance
  20. 20. Building Visibility A dealership having an online presence is as important as the dealership’s proximity to an online new-car shopper when deciding where to buy.Building TrustCars.com users searching for anew vehicle are 7x more likelyto contact a dealer withreviews. Source: Cars.com/Synovate Online New Car Shopper Study, 2010; Cars.com Internal Reporting
  21. 21. Brand (n. ˈbrand The set of ):expectations, memories, storiesand relationships that, takentogether, account for aconsumer’s decision to chooseone product or service overanother. – Seth Godin, entrepreneur and marketing guru
  22. 22. Source: http://www.alphaila.com
  23. 23. 18.2: number of sources used by the typical automotive shopper Source: Google/Shopper Sciences, Zero Moment of Truth Industry Studies, U.S., April 2011
  24. 24. Other Places toClaim Your Listing:• Facebook Places• Foursquare• Google+• DealerRater.com• Angie’s List
  25. 25. 91% of new-car shoppers say they want to read service reviews prior to selecting a dealership. > Source: DriverSide/Kelton Research Study, April 2011
  26. 26. Gather feedback Share feedbackMonitor from all sources, Web and with your entire dealership beyond Correct anyRespond Reply to ALL feedback potential issues at the store Every team member Ask to deliver a great customer Every customer for their feedback experience Share all reviews Reward your teamPromote with prospects and past customers for their progress and success
  27. 27. Differentiate your store online and off:1. Give customers specific reasons to believe you deserve their time.2. Connect with consumers their way.3. Hire, train and motivate for success with today’s shopper. ▸ Bottom line: people don’t like to be sold to, they like to BUY.
  28. 28. Understanding Meeting New- Building and Measuring Today’s Car Shopper Differentiating to Drive Landscape Needs Your Brand Performance
  29. 29. 1998 2000 2008 2009 2011
  30. 30. Beyond sales, what are you Metricstrying to accomplish?▸ Drive more ROI?▸ Increase contacts? Strategy▸ Grow walk-in traffic?▸ Heighten staff performance? Goal▸ Improve service efficiency?▸ Increase customer satisfaction? Align your metrics with your store’s objectives and your strategies for reaching them
  31. 31. Get Buy-In Raise Visibility Change starts Knowing is half at the top the battle Motivate Celebrate Incentivize for Set goals and celebrateindividual improvement milestones
  32. 32. • Do an audit. • Marketing channels • Lead process & training• Begin adapting your strategy and processes. • Think big, but start small• Define your metrics. • Set goals collaboratively • Choose to collect metrics that matter • Incentivize for success
  33. 33. Thank You!

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