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Turbocharging Your New Car Sales

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Nick Hummer presents "Turbocharging Your New Car Sales" at the Innovative Dealer Summit in Denver, CO.

In his presentation Nick discussed the promising outlook for new car sales, as well as ways to differentiate your store's brand through online reviews. With insights related to social, local and mobile shopping behavior, this deck is intended to help you craft your marketing efforts to align with the needs of today's consumers.

Published in: Automotive
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Turbocharging Your New Car Sales

  1. 1. Turbocharging Your New Car Sales
  2. 2. About MeNick Hummer • Director of New Car Strategy • Nearly10 years of online automotive industry experienceConnect with Me: dealers.cars.com/facebook dealers.cars.com/twitter Nick Hummer on LinkedIn nhummer@cars.com
  3. 3. Objectives New Car Building Measuring to New Car Drive Shopper YourLandscape Performance Needs Brand
  4. 4. New Car Sales on the Rise Pre-recessionSources: Reuters, NADA , J.D. Power & Associates, Polk
  5. 5. Shoppers Have More Choices Vehicle Make & Model Combinations on Cars.com 1408 1367 2009 2012Cars.com Internal Reporting 2012
  6. 6. They’re Less Brand-Loyal Brand 3 brands in 2008 Loyalty down 15% 5 brands in 2011Source: Cars.com Internal Reporting;Sources: AT Kearney 2012
  7. 7. They Use More Sources 18 25 If younger on average than 34Source: Google
  8. 8. Objectives New Car Building Measuring to New Car Drive Shopper YourLandscape Performance Needs Brand
  9. 9. New Car Shopper Needs The information they want… Delivered the way they want it… From a dealer they can trust to deliver a great experience 9
  10. 10. What New Car Shoppers Want New car shoppers view more pages and spend more time on site than used car shoppers by 40%Source: Cars.com Internal Reporting
  11. 11. What New Car Shoppers Want Cars.com new car shoppers cross shop an average of 5 makesSource: Cars.com Internal Reporting
  12. 12. What New Car Shoppers Want 80% of Cars.com new car shoppers access dealer-specific information – not just inventory. They’re 2x as likely to filter results by Dealer Reviews
  13. 13. Your Web site• Are you giving shoppers what they need to make a New Car Decision?• How are you standing out from their other options?• Are you giving them the tools they need to make an informed vehicle, brand and dealer decision? 13
  14. 14. Today’s Shopper is SoLoMo • Nearly half of U.S. online adults follow a retailer via Facebook, Twitter or a blog • 83% of mobile car shoppers own a smartphone, and 28% own a tablet. • Consumers want to read as many as 10 reviews before choosing a local businessSources: Shop.org Social Commerce Study, BrightLocalAnnual Consumer Review Study, Cars.com: Mobile Web& App Usage for Automotive Shoppers, Nielsen
  15. 15. Reach Shoppers Where They Are Nearly 40% of Cars.com’s total new-vehicle searches comes from mobile devices.Source: Cars.com Internal Reporting;Cars.com/Synovate, 2010
  16. 16. A Better Mobile ExperienceProvide the infomobile users wantMake sure it can beseen on all devicesDon’t forget service!Tip - Visit howtogomo.comto see how your dealership’swebsite looks on a mobiledevice Wired Site Mobile Site
  17. 17. Tip: Confirm with a Quick Text
  18. 18. Objectives New Car Building Measuring to New Car Drive Shopper YourLandscape Performance Needs Brand
  19. 19. Your Brand Matters Building Visibility 80% of new-car shoppers access dealership-specific information – not just inventory. Building Trust Cars.com users searching for a new vehicle are 7x more likely to contact a dealer with reviews.
  20. 20. Do You Have a Brand Strategy? Brand (n. ˈbrand The set of ): expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another. – Seth Godin, entrepreneur and marketing guru
  21. 21. Does Your Brand Mean Something?
  22. 22. Is Your Brand Consistent? You only get one chance to make a first impression, and a shopper’s first encounter with you isn’t when they walk into your store – it’s an online review they read, a vehicle listing they clicked on or an ad they saw… Overall, we make sure our branding and promotional strategies are consistent across our advertising. Ryan Esler George Matick Chevrolet
  23. 23. Claim What’s Yours Other places to claim your listings: • Facebook Places • Foursquare • Google+ • DealerRater.com • Angie’s List
  24. 24. Managing Your Reputation is Good For You! 7x New-car shoppers on Cars.com who read reviews are 7x more likely to contact a dealer. Consumers who read reviews on Cars.com are 2x more engaged: they spend twice as much time on site and view twice as many pages. Think beyond sales – 91 percent of new-car shoppers want 91% to read service reviews when considering a dealership.Source: Cars.com Internal Reporting,DriverSide/Kelton Research Study, April 2011
  25. 25. Four Steps to Five Stars Gather feedback Share feedback with Monitor from all sources, Web and beyond your entire dealership Correct any Reply to ALL Respond feedback potential issues at the store Every team member to deliver a great Every customer for Ask customer their feedback experience Share all reviews Reward your team Promote with prospects and past customers for their progress and success
  26. 26. Address All Reviews...This is still totally a mans dealership. …He assured me that theI HATE being called sweetie by a male or vehicle was right in front ofa female. When I was told how much Id him as we spoke… When Ibe offered for my car, it was in a very got there, no car, it was “soldcondescending tone and as if I had no this morning.” They did haveidea what the value of my own car is. a few 2011s they wanted to get me in though. First, the salesman I would readily choose tried to get me to another repair facility if sign a blank loan it were not for warranty form... work.
  27. 27. Negative Feedback Happens
  28. 28. Discuss with your store& answer the following questions about your process: Who… What…o should monitor? o additional action should be taken?o should respond? o impact can your response make?o can benefit? o improvements, if any, can you make? How can you apply this to all areas of your business? New, Used, Service?
  29. 29. Making Your Response Meaningful Directly address customer’s concern Take the conversation offlineRemember that your response influences current and future customers
  30. 30. Take it Offline Listen & Acknowledge Take the Conversation Offline
  31. 31. Reaching Shoppers with Social Media Nearly 1 in 3 shoppers who use Facebook added a dealer to their consideration list based on info received via a social media source Dealer.com/DriverSide/Gfk: THE RISE OF LOYALTY, ADVOCACY & INFLUENCE, 2011
  32. 32. Have a Social Media Action Plan6 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. Tip: Participate4. Content is king! in the Conversation5. Social Media is not just about addressing Customer Service issues
  33. 33. Objectives New Car Building Measuring to New Car Drive Shopper YourLandscape Performance Needs Brand
  34. 34. Define Your New Car StrategyWhat are your goals?▸ Increase brand presence Metrics online?▸ Improve your reviews ratings? Strategy▸ Grow your social media followers? Goal▸ Heighten staff performance?▸ Improve service efficiency?
  35. 35. Are You Measuring What Matters foryour New Car Business?
  36. 36. Or Is It “Business As Usual?” 1998 2000 2008 2009 2011
  37. 37. The most important point in this deck Selling New is different than selling Pre-Owned 37
  38. 38. Get Started Today• Do an audit • Marketing channels targeting new-car shoppers • Process & training specific to new-car customers• Begin adapting your new-car strategy and processes • Think big, but start small• Define your new-car metrics • Set goals collaboratively (new-car sales manager, service manager, leadership team) • Choose to collect metrics that impact new-car performance • Incentivize for success
  39. 39. Questions
  40. 40. Thank You!

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