IS20G12 - 5 Timeless Lessons Dealers Can Learn from Indiana Jones - Matt Weinberg

1. 5 Timeless Lessons Car Dealers Can Learn from Indiana Jones
Matt Weinberg
SVP of Consumer Experience
Drive Motors
matt@drivemotors.com
Title Sponsor

2. 5 Timeless Lessons Car Dealers Can
Learn from Indiana Jones

3. Remember when…
Leads were faxed, didn’t have
email addresses, and "the
internet was just a fad”?
Google ads
“weren’t a thing”?
Websites were "only for
other industries”?

5. 01Explore the
unknown
› Gain a competitive advantage
› Don’t let fear drive you
› Embrace change

6. 9 out of 10 customers are more likely
to buy from dealers that offer online
checkout
Source: Cox Automotive Future of Digital Retail Study

7. We live in a click & mortar world
Source: Kibo Commerce. “2018 Consumer Trends Report – Engaging the Informed Consumer”
87% 67% 60%bought online and
picked up in store in
the last 6 months
retailers intend to offer
buy online, pickup in
store (“BOPIS”)
of Lowe’s online
sales are picked
up in store

8. 02Always be
learning
› Seek out new opportunities
› Tailor the process to customers’ needs
› Use customer feedback to improve

9. 85% of consumers trust online
reviews as much as personal
recommendations
Source: Bright Local 2017 Consumer Review Survey

10. 03Use the right
tools
› Connect online and offline experiences
› Establish a flexible process
› Let shoppers review F&I products online

11. 83% of customers want to do more of
the process online
Source: Cox Automotive Future of Digital Retail Study

12. Each buyer’s journey is
unique, making flexibility
more important than ever
Source: Google/comScore 2017 U.S. Automotive Shopper Study

13. 04Build your people
power
› Empower your team to become
product consultants and advisors
› Establish a clear career path
› Provide regular training and development
opportunities

14. Employee turnover costs the typical dealership
$500,000 every year
And it’s costing you customers, too
Source: NADA 2017 Dealership Workforce Study

15. 87% of Millennials
say career growth is
very important
Source: Gallup Workforce Report: How Millennials Want to Work and Live

16. 05
Keep it simple
› Offer transparency to build trust
› Reduce friction throughout the process
› Remove “calls to distraction”

17. Dealers that offer a simple, fast
purchase experience earn
94% satisfaction ratings
Average customer satisfaction is 71%
Source: Cox Automotive 2017 Car Buyer Journey Study

18. Ecommerce
builds trust
Demonstrates transparency
Saves time and reduces friction
Creates a no-pressure environment

19. Ecommerce drives results
19
Higher PVR
Creates easier, faster,
and more transparent
experience
Lower Operational Costs
Streamlines BDC, Sales, and
F&I processes
Higher Total Volume
Gives a competitive
advantage over other
dealers
1 2 3

20. Explore the unknown1
Use the right tools3
Keep it simple5
2 Always be learning
4 Build your people power
Lessons
learned

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Contact Info:
Matt Weinberg
SVP of Consumer Experience
Drive Motors
matt@drivemotors.com
Title Sponsor