Auto dealers are constantly looking for ways to get an edge in the digital age, yet many continue to follow the same sales and advertising practices that they’ve been using for decades. Let’s face it, consumers have access to much more information, and choices, than ever before. In the past the dealer controlled all of the information, but today it’s just the opposite. Any information you offer is now carefully scrutinized and validated by a vast amount of online data. As a result, the likelihood of old-school sales practices backfiring has increased substantially. In this dynamic session, I’ll be discussing ways to break down deep-rooted stereotypes and embrace the transparency that consumers have been begging for. A transparent business model can greatly enhance your sales, reputation, customer retention, and bottom line. You’ll find that customers will actually be willing to spend more when they feel they’re buying from a business they can trust.
How is it possible? A Masterclass Customer Experience in 30 minutes. I did it during the Insurtech Amsterdam Meetup. Do you want to have the same masterclass or a 2- or 3 hour masterclass? Contact me: pascal.spelier(monkeything)finno.nl
This talk addresses the challenges that sales, marketing and customer service representatives face today as they try to achieve customer engagement and customer loyalty in a connected world.
We certainly live in the age of the connected customer. Today everyone is connected on line. Through internet our customers do their own research on our products and services. They even make their buying decisions whilst they spend time on line. As a result, the traditional buying journey has changed dramatically. Internet technology has had a massive impact on the way we influence our customers, the way we communicate with them and the way we manage our relationship with them.
In this talk, I will focus on the design and delivery of a strong, memorable and consistent brand experience. I will discuss how to map and leverage your Moment of Truth (MOT) and touch points across the customer’s journey.
Topic: How Agencies can leverage Technology to cover the full Customer Journey
- Tech can supercharge Agencies’ set of skills to cover all interactions between a customer and a brand
- Collaboration will make agencies more successful and bring more values to their clients
- It is time for agencies to treat their clients the way they treat theirs, with a 360 view/management of their needs
How is it possible? A Masterclass Customer Experience in 30 minutes. I did it during the Insurtech Amsterdam Meetup. Do you want to have the same masterclass or a 2- or 3 hour masterclass? Contact me: pascal.spelier(monkeything)finno.nl
This talk addresses the challenges that sales, marketing and customer service representatives face today as they try to achieve customer engagement and customer loyalty in a connected world.
We certainly live in the age of the connected customer. Today everyone is connected on line. Through internet our customers do their own research on our products and services. They even make their buying decisions whilst they spend time on line. As a result, the traditional buying journey has changed dramatically. Internet technology has had a massive impact on the way we influence our customers, the way we communicate with them and the way we manage our relationship with them.
In this talk, I will focus on the design and delivery of a strong, memorable and consistent brand experience. I will discuss how to map and leverage your Moment of Truth (MOT) and touch points across the customer’s journey.
Topic: How Agencies can leverage Technology to cover the full Customer Journey
- Tech can supercharge Agencies’ set of skills to cover all interactions between a customer and a brand
- Collaboration will make agencies more successful and bring more values to their clients
- It is time for agencies to treat their clients the way they treat theirs, with a 360 view/management of their needs
Gladminds Connect Platform (GCP) is a cloud based platform that provides a two way communication channel between brands and customers.
Today, the GCP is ready to use with its two products: AfterSell targeted at Brands & AfterBuy targeted at Customers/Consumers.
GCP helps enterprises leverage their brand experience and create value for the customer through service, marketing, communication and host of other functions that drive the brand business (through AfterSell Services).
For the customer, GCP brings together all brand relations, diverse information and services into one single product making their life simple, organised and delightful (through AfterBuy App).
Deck on the Impact on Customer Loyalty of the challenging economic, regulatory and technology environments 2009 – 2010. Publically available data were reviewed and extrapolations were made where necessary.
IS20G11 - Turn Up the Volume! 3 Rockstar Tactics to Close More Deals with Co...Sean Bradley
Dealers that use ecommerce have a competitive advantage. 9 out of 10 shoppers are more likely to buy from a dealer that offers ecommerce. How can you fully capture this demand to increase your sales volume? Incorporate ecommerce into your BDC and sales processes. Attend this session to learn 3 proven tactics to close more deals with ecommerce.
Key Takeaways:
-Explore ways to upgrade your customer experience and win over today’s car buyers
-Discover how building ecommerce into your BDC and sales processes can boost profit per vehicle by $700
-Learn how to leverage ecommerce to close more deals
Creating Lasting Relationships in the Digital AgeenVista
In the digital age, it's just as important to create lasting relationships with customers. To ensure repeat customers, it's vital that retailers find ways to still connect with shoppers, whether on a computer, tablet or smart phone.
What’s Inside
Today’s biggest business trends revolve around helping
companies provide exceptional customer experiences.
These include big data insights that reveal and predict
customer needs, integrated platforms that enable end-
to-end personalization, and artificial intelligence (AI)
solutions that automate and scale tasks that used to be
painfully manual and time-consuming.
Consumers are no longer what they used to be. Before they buy, they look around. A lot. And when they buy, they talk about it. To everybody. They want to be treated as unique. They want you to listen to them. They want you to talk to them. They want you to thank them. In short, they are influencers and mini-tyrants who will leave you in the blink of an eye if you don’t do as they please. And that’s the easy part. The problem is that they change so fast that you actually need to know what they want, before they do. Your organization needs to outrun them. It needs to be agile and fast.
A presentation of the 7 P's in a bank's environment: Prices, Product, Place, Promotion, People, Physical Evidence, Process & Partnerships.Applying the framework to it's online banking and e-commerce.
Every consumer leaves a digital trail behind as she navigates the web. And these insights – available at your fingertips today through consumer intent scoring – are the type of intelligence that you could only dream of accessing just a few short years ago. When you have sharper vision into the consumer’s buying journey, you make sounder decisions that increase the likelihood of turning that consumer into your newest paying customer.
The Ultimate Guide to Customer Loyalty in 2017Margaret Link
For brick-and-mortar businesses, building true customer loyalty is both an art and a science. At Thanx, we're bringing you the stats, tools, and takeaways to help you capture data that grows business through customer loyalty.
Gladminds Connect Platform (GCP) is a cloud based platform that provides a two way communication channel between brands and customers.
Today, the GCP is ready to use with its two products: AfterSell targeted at Brands & AfterBuy targeted at Customers/Consumers.
GCP helps enterprises leverage their brand experience and create value for the customer through service, marketing, communication and host of other functions that drive the brand business (through AfterSell Services).
For the customer, GCP brings together all brand relations, diverse information and services into one single product making their life simple, organised and delightful (through AfterBuy App).
Deck on the Impact on Customer Loyalty of the challenging economic, regulatory and technology environments 2009 – 2010. Publically available data were reviewed and extrapolations were made where necessary.
IS20G11 - Turn Up the Volume! 3 Rockstar Tactics to Close More Deals with Co...Sean Bradley
Dealers that use ecommerce have a competitive advantage. 9 out of 10 shoppers are more likely to buy from a dealer that offers ecommerce. How can you fully capture this demand to increase your sales volume? Incorporate ecommerce into your BDC and sales processes. Attend this session to learn 3 proven tactics to close more deals with ecommerce.
Key Takeaways:
-Explore ways to upgrade your customer experience and win over today’s car buyers
-Discover how building ecommerce into your BDC and sales processes can boost profit per vehicle by $700
-Learn how to leverage ecommerce to close more deals
Creating Lasting Relationships in the Digital AgeenVista
In the digital age, it's just as important to create lasting relationships with customers. To ensure repeat customers, it's vital that retailers find ways to still connect with shoppers, whether on a computer, tablet or smart phone.
What’s Inside
Today’s biggest business trends revolve around helping
companies provide exceptional customer experiences.
These include big data insights that reveal and predict
customer needs, integrated platforms that enable end-
to-end personalization, and artificial intelligence (AI)
solutions that automate and scale tasks that used to be
painfully manual and time-consuming.
Consumers are no longer what they used to be. Before they buy, they look around. A lot. And when they buy, they talk about it. To everybody. They want to be treated as unique. They want you to listen to them. They want you to talk to them. They want you to thank them. In short, they are influencers and mini-tyrants who will leave you in the blink of an eye if you don’t do as they please. And that’s the easy part. The problem is that they change so fast that you actually need to know what they want, before they do. Your organization needs to outrun them. It needs to be agile and fast.
A presentation of the 7 P's in a bank's environment: Prices, Product, Place, Promotion, People, Physical Evidence, Process & Partnerships.Applying the framework to it's online banking and e-commerce.
Every consumer leaves a digital trail behind as she navigates the web. And these insights – available at your fingertips today through consumer intent scoring – are the type of intelligence that you could only dream of accessing just a few short years ago. When you have sharper vision into the consumer’s buying journey, you make sounder decisions that increase the likelihood of turning that consumer into your newest paying customer.
The Ultimate Guide to Customer Loyalty in 2017Margaret Link
For brick-and-mortar businesses, building true customer loyalty is both an art and a science. At Thanx, we're bringing you the stats, tools, and takeaways to help you capture data that grows business through customer loyalty.
Answer SheetFin 331Homework 2You may wish to summarize your input .docxrossskuddershamus
Answer SheetFin 331Homework 2You may wish to summarize your input date to use for your solution if you intend to use Excel to make your computations.Optional Answer SheetName:Type Your Name HereLoanABCDLTVDescription80% LTV
Lower Rate80% LTV90% LTV Fixed 3080% LTV
5-Year ARMRateHigher RateLoanABCDDown PaymentLoan AmountMonthly Principal & InterestMonthly Mortgage Insurance PaymentProperty Taxes/monthInsurance/MonthTotal House PaymentLoan Payment used to qualify to ARMHouse Payment used to qualify for ARMHousing RatioTotal Debt to Income RatioAPR for the LoanNot RequiredDo they qualify for this loan?Down PaymentClosing CostsPrepaid Finance ChargesTotal Cash to CloseAnalysis of Your CalculationsType Your Name HereCalculate the difference in the cash required to close and the total monthly payment for the 30 year loan with the higher rate and the 90% loan with mortgage insurance.Additional Cash to Close
[Loan B Less Loan C]Additional Monthly Pmt
[Loan B Less Loan C]Should these buyers take the 90% loan and use the reduced cash to close to pay off their student loans? Explain you recommendation.Consider the ARM loan.What is the balance after 5 years?What is the maximum possible principal and interest payment on that loan in year 6, when the rate adjusts?Which Loan option would you recommend? Loan Why do you suggest this option?
Check YES
Check NO
R E P R I N T N U M B E R 5 4 4 0 9
S U M M E R 2 0 1 3 V O L . 5 4 N O . 4
How to Drive Customer
Satisfaction
By Rolph E. Anderson, Srinivasan Swaminathan and Rajiv Mehta
INTELLIGENCE
SUMMER 2013 MIT SLOAN MANAGEMENT REVIEW 13COURTESY OF WE FASHION
Savvy company executives
know that some of their greatest
and potentially most enduring
assets are their long-run cus-
tomer relationships. Trying to
sustain a competitive advantage
with new products is a frustrat-
ing game, where short-term
leads often erode quickly. But by
satisfying customers, compa-
nies can nurture long-term
relationships and customer
loyalty. What’s more, a small in-
crease in customer loyalty can
make a big difference in com-
pany profits. McDonald’s, for
example, calculated back in the
1990s that just one additional
visit per week by “heavy users”
would boost annual sales by
more than $10 billion dollars.
Blending Bricks
and Clicks
In retailing, customer loyalty
cannot be achieved for long by
keeping customer interactions
online distinct and separate from
those offline. Many consumers
have largely merged their shop-
ping to the extent that they go
back and forth between online
and offline retailers. They may
start out by looking at desired
products in a store, go online to
check out the products further,
then decide to buy them from an
online seller such as Amazon. Or
they may start searching online,
then go look at the items offline
at a Wal-Mart or Target store,
and perhaps buy them there
because they’re immediately
available. Si.
Combining The Sales funnel With Content Marketing To Grow LeadsKennedy Andersson AB
Our aim is to help you understand the importance of the sales funnel and how to use content with inbound marketing through the different buying stages to close a sale.
Do you want to offer financing to your customers? This presentation contains what you need to know to get started, and how vendor financing can increase your sales.
As a small business owner there's probably two things you want more than anything
else in today's economy.
More customers & more cash flow for your business!
However, you've probably come to realize, that's not as easy as it sounds today. I'm
sure this wasn't always the case.
Many businesses not long ago were booming during one of the biggest economic runs
this country had even known. You had as many leads and customers as you could
handle thanks to a thriving economy.
Your sales were skyrocketing, your employees were happy and you were on top of the
world, buying nice cars, investing in vacation homes in your favorite get-a-way
destinations, traveling the world with your spouse and family and enjoying the finer
things in life…as you should have.
In this digital age, there are now more and more opportunities for faster, more profitable processes. No matter what your dealership role, Think Fast! will give you insights into how you can improve performance, increase profit and make your customers happier.
The Four Proven Marketing Systems Every Contractor Must Optimize to Maximize ...Digital Downloads
It's easier than ever for consumers to quickly research and compare various contacting businesses.
You can see this is a chart from a search for “top contractors in Denver, Colorado, and I can easily, easily pull up this type of information from a huge variety of sites, and see how other people are rating certain services, right?
So you can see here “Tim’s Tree Services” 4.8, three stars out of five. That’s great. You can see how many people have reviewed it, the ratings of reviews that are out there, and the average rating of all the contractors in Colorado, on this particular site.
But this is just one of dozens and dozens of sites that I could check at any time to learn more about you and your competitors.
Indirect Channel Incentives and Loyalty ProgramsRelayware, Inc.
Spiff programs, tactical incentives, points-for-prizes, cash cards, rebates and discounts – the methods adopted to incentivize indirect channels to sell more are numerous and yet most simply reward companies and individuals for making sales that would have happened anyway. Building loyalty and providing incentives to reward positive behavior is both an art form and a science. This enlightening whitepaper uncovers best practices used by some of the most successful channel marketers and challenges us to consider whether simply being a pleasure to do business with might be incentive enough for our indirect channels.
In late September, the Federal Trade Commission announced what is likely the most substantial auto dealer enforcement action in the agency’s history. While most of the FTC’s earlier cases have focused solely on dealer advertising, this action against 9 California dealerships alleges over a dozen different types of violations. And unlike previous cases where there were no initial monetary penalties, this time it looks like they’re seeking massive financial consequences for the dealers involved.
In this informative presentation we’ll examine each of the FTC’s latest claims in detail and discuss best practices on how your dealership can avoid being targeted by federal and state regulators. The game is changing and it pays to be prepared.
Connecticut Automotive Retailers Webinar November 8th, 2016
In late September, the Federal Trade Commission announced what is likely the most substantial auto dealer enforcement action in the agency’s history. While most of the FTC’s earlier cases have focused solely on dealer advertising, this action alleges over a dozen different types of violations. And unlike previous cases where there were no initial monetary penalties, this time it looks like they’re seeking massive financial consequences for the dealers involved.
In this informative presentation we’ll examine each of the FTC’s latest claims in detail and discuss best practices on how your dealership can avoid being targeted by federal and state regulators. The game is changing and it pays to be prepared.
Unfair and Deceptive Acts and Practices Enforcement: Is your Facility at Risk?Jim Radogna
In this informative webinar, KPA F&I experts Jim Radogna and Ryan Lane will address these potential and legal pitfalls and suggest best practices for avoiding being caught up a “UDAP Trap.”
Unfair and Deceptive Acts & Practices Seminar - Chicago Automobile Trade Asso...Jim Radogna
Dealers have plenty to worry about when it comes to rules and regulations governing the industry, but perhaps the most harrowing are known as “UDAPs”.
Unfair and Deceptive Acts and Practices (UDAP) statutes are consumer protection laws that address what lawmakers consider to be “unethical” or otherwise “bad” business practices. The FTC Act and the Illinois Consumer Fraud and Deceptive Business Practices Act both prohibit unfair or deceptive acts or practices. These statutes have far-reaching implications for auto dealers because they provide for enforcement by the government to stop the practices, individual actions for damages brought by consumers who are hurt by the practices, and even criminal liability.
Dealers need to be aware that these statues are extremely broad and not only prohibit acts and practices that fall directly under the purview of specific laws, but also any other practice that is determined to be unfair or deceptive to the consumer. A behavior can be found to be unfair and deceptive and thus actionable even though it does not constitute fraud, breach of contract, or negligence under more traditional law. As a result, UDAP claims are a favorite among consumer attorneys – especially those seeking class action lawsuits.
There are a wide variety of dealer sales, F&I, and advertising practices that may be considered to be unfair or deceptive by regulators or courts. Some of these are commonly-known, while others may surprise you.
In this informative seminar we’ll address these potential legal pitfalls and suggest best practices for avoiding being caught up in a “UDAP Trap”.
This seminar is highly recommended for dealership upper management as well as sales managers, F&I personnel, sales consultants, and others – anyone who interacts with, or markets to, consumers.
Which Gov't Agencies are Targeting Auto Dealers… and How to Reduce Your ExposureJim Radogna
Discover the Top Areas for Enforcement and Penalty Currently Costing Other Dealerships a Bundle! High Risk Areas for All Dealership Departments.
When it comes to government regulation and enforcement it seems that Auto Dealerships have a huge target painted on the rooftop.
Laws and regulations impacting auto dealers are many. However, this workshop we will focus on the top enforcement threats facing most auto dealers today and how you can prepare and adjust to lessen your dealership's exposure.
You will learn:
Which Federal & State Regulators are most active in dealerships right now
The most common enforcement actions taken against dealerships today
About the specific enforcement cases and the resulting monetary damages
Specific risks for Variable Operations, Fixed Operations & Human Resources
Best Practices to Avoid these very real potential liabilities
What Exactly Is The Common Rail Direct Injection System & How Does It WorkMotor Cars International
Learn about Common Rail Direct Injection (CRDi) - the revolutionary technology that has made diesel engines more efficient. Explore its workings, advantages like enhanced fuel efficiency and increased power output, along with drawbacks such as complexity and higher initial cost. Compare CRDi with traditional diesel engines and discover why it's the preferred choice for modern engines.
Ever been troubled by the blinking sign and didn’t know what to do?
Here’s a handy guide to dashboard symbols so that you’ll never be confused again!
Save them for later and save the trouble!
Things to remember while upgrading the brakes of your carjennifermiller8137
Upgrading the brakes of your car? Keep these things in mind before doing so. Additionally, start using an OBD 2 GPS tracker so that you never miss a vehicle maintenance appointment. On top of this, a car GPS tracker will also let you master good driving habits that will let you increase the operational life of your car’s brakes.
"Trans Failsafe Prog" on your BMW X5 indicates potential transmission issues requiring immediate action. This safety feature activates in response to abnormalities like low fluid levels, leaks, faulty sensors, electrical or mechanical failures, and overheating.
𝘼𝙣𝙩𝙞𝙦𝙪𝙚 𝙋𝙡𝙖𝙨𝙩𝙞𝙘 𝙏𝙧𝙖𝙙𝙚𝙧𝙨 𝙞𝙨 𝙫𝙚𝙧𝙮 𝙛𝙖𝙢𝙤𝙪𝙨 𝙛𝙤𝙧 𝙢𝙖𝙣𝙪𝙛𝙖𝙘𝙩𝙪𝙧𝙞𝙣𝙜 𝙩𝙝𝙚𝙞𝙧 𝙥𝙧𝙤𝙙𝙪𝙘𝙩𝙨. 𝙒𝙚 𝙝𝙖𝙫𝙚 𝙖𝙡𝙡 𝙩𝙝𝙚 𝙥𝙡𝙖𝙨𝙩𝙞𝙘 𝙜𝙧𝙖𝙣𝙪𝙡𝙚𝙨 𝙪𝙨𝙚𝙙 𝙞𝙣 𝙖𝙪𝙩𝙤𝙢𝙤𝙩𝙞𝙫𝙚 𝙖𝙣𝙙 𝙖𝙪𝙩𝙤 𝙥𝙖𝙧𝙩𝙨 𝙖𝙣𝙙 𝙖𝙡𝙡 𝙩𝙝𝙚 𝙛𝙖𝙢𝙤𝙪𝙨 𝙘𝙤𝙢𝙥𝙖𝙣𝙞𝙚𝙨 𝙗𝙪𝙮 𝙩𝙝𝙚 𝙜𝙧𝙖𝙣𝙪𝙡𝙚𝙨 𝙛𝙧𝙤𝙢 𝙪𝙨.
Over the 10 years, we have gained a strong foothold in the market due to our range's high quality, competitive prices, and time-lined delivery schedules.
Comprehensive program for Agricultural Finance, the Automotive Sector, and Empowerment . We will define the full scope and provide a detailed two-week plan for identifying strategic partners in each area within Limpopo, including target areas.:
1. Agricultural : Supporting Primary and Secondary Agriculture
• Scope: Provide support solutions to enhance agricultural productivity and sustainability.
• Target Areas: Polokwane, Tzaneen, Thohoyandou, Makhado, and Giyani.
2. Automotive Sector: Partnerships with Mechanics and Panel Beater Shops
• Scope: Develop collaborations with automotive service providers to improve service quality and business operations.
• Target Areas: Polokwane, Lephalale, Mokopane, Phalaborwa, and Bela-Bela.
3. Empowerment : Focusing on Women Empowerment
• Scope: Provide business support support and training to women-owned businesses, promoting economic inclusion.
• Target Areas: Polokwane, Thohoyandou, Musina, Burgersfort, and Louis Trichardt.
We will also prioritize Industrial Economic Zone areas and their priorities.
Sign up on https://profilesmes.online/welcome/
To be eligible:
1. You must have a registered business and operate in Limpopo
2. Generate revenue
3. Sectors : Agriculture ( primary and secondary) and Automative
Women and Youth are encouraged to apply even if you don't fall in those sectors.
Fleet management these days is next to impossible without connected vehicle solutions. Why? Well, fleet trackers and accompanying connected vehicle management solutions tend to offer quite a few hard-to-ignore benefits to fleet managers and businesses alike. Let’s check them out!
Core technology of Hyundai Motor Group's EV platform 'E-GMP'Hyundai Motor Group
What’s the force behind Hyundai Motor Group's EV performance and quality?
Maximized driving performance and quick charging time through high-density battery pack and fast charging technology and applicable to various vehicle types!
Discover more about Hyundai Motor Group’s EV platform ‘E-GMP’!
Symptoms like intermittent starting and key recognition errors signal potential problems with your Mercedes’ EIS. Use diagnostic steps like error code checks and spare key tests. Professional diagnosis and solutions like EIS replacement ensure safe driving. Consult a qualified technician for accurate diagnosis and repair.
5 Warning Signs Your BMW's Intelligent Battery Sensor Needs AttentionBertini's German Motors
IBS monitors and manages your BMW’s battery performance. If it malfunctions, you will have to deal with an array of electrical issues in your vehicle. Recognize warning signs like dimming headlights, frequent battery replacements, and electrical malfunctions to address potential IBS issues promptly.
What Does the PARKTRONIC Inoperative, See Owner's Manual Message Mean for You...Autohaus Service and Sales
Learn what "PARKTRONIC Inoperative, See Owner's Manual" means for your Mercedes-Benz. This message indicates a malfunction in the parking assistance system, potentially due to sensor issues or electrical faults. Prompt attention is crucial to ensure safety and functionality. Follow steps outlined for diagnosis and repair in the owner's manual.
In this presentation, we have discussed a very important feature of BMW X5 cars… the Comfort Access. Things that can significantly limit its functionality. And things that you can try to restore the functionality of such a convenient feature of your vehicle.
3. How do you handle internet leads?
In his article Does Not Being Transparent Make You Invisible to
Customers, Ron Henson from DrivingSales notes:
“The work I do with dealers affords me the opportunity to review
many Internet mystery shops of dealerships all over North
America. It blows me away how many times we ask for a price and
get an answer like:”
• We'll make you a great deal. When can you come in?
• We've never lost a deal over price. Come on down.
• What monthly payment were you hoping to get?
• Do you have a trade?”
11. We have to do whatever it takes to stay ahead of the
competition. Everybody else is hiding information.
This way of doing business has been successful for
decades.
The chances of getting into a legal bind are pretty
slim.
If you give customers too much information they’ll
just use it to shop you.
Customers have no loyalty.
Why should we be at a disadvantage by following
regulations that our competitors ignore?
13. REASON #10 – Avoid Legal Problems
State & federal regulators frequently target “non-
transparent” dealer practices as unfair and deceptive:
Advertising Violations
• Bait & Switch (just get ‘em in)
• Failure to Sell at Advertised Price
• Internet Advertising (dot.com disclosures)
• Mailers
Unfair and Deceptive Acts and Practices (UDAP)
• Spot Delivery
• Payment Packing
• Vehicle History Disclosures (rental, demo, damaged)
14.
15. • Getting “caught” is no longer a just a fine and slap on
the wrist. Regulators have begun using the media to
penalize those dealers caught in order to intimidate
others. Regulators want press, and the tougher the
press is on the offending dealers the better it is for the
regulators in charge.
• The severity of the offenses is often exaggerated.
• •The social media age brings more long-term
consequences and public humiliation than businesses
have ever seen before.
• Do you want your customers seeing Your dealership on
the 6 o’clock news?
16. REASON #9 – Increase Lead Conversion
The ultimate goal is still to “get ‘em in” and close the deal,
but for an increasing number of shoppers, transparency is
the only thing that will get them in. Not being upfront
about details used to have its benefits. Up until recently,
the salesperson could control the selling process because
he or she controlled the information. Today, it’s just the
opposite - consumers have all the information they need
at their fingertips. If you resist answering customer’s
questions, chances are you’ll never hear from them again.
17. REASON #8 – Increase Closing Ratios
Higher levels of satisfaction with the selling process
result in higher closing rates and higher sales.
A survey by Maritz Research of over 163,000 Americans found the following:
64.0% are completely satisfied when one person with pricing authority negotiates
the deal vs. 20.7% when two or more with no pricing authority are involved.
18. REASON #7 – Improve Your REAL Reputation
What Is Your Reputation Worth?
• A dealership’s reputation is difficult, if not impossible, to
maintain when staff members depend on “old school”
deceptive practices.
• Customers often make decisions during a vehicle sale
transaction that they come to regret after the “ether has worn
off”.
• You can be sure they’re telling somebody about the
transaction. Or perhaps they’re telling thousands of people
online?
19. REASON #6 – Increase Customer Satisfaction
Lack of transparency and old school tactics diminish
the customer experience. Nobody likes surprises.
Sure, you made the deal but are your customers
truly satisfied with your processes or do you just
wear them down?
Higher Customer Satisfaction = More
Repeat and Referral Business
20. REASON #5 – Increase Customer Loyalty
Customers only have loyalty if you earn it from them.
Transparent processes help build customer loyalty and retention.
21. REASON #4 - Your Customers Have Unprecedented
Access to Information in Real Time
A recent JD Power report highlights a
growing trend called 'Showrooming'
where prospects sitting in your
showroom are actually price competing
your deal with another dealership using
their mobile devices.
22. Consumers not only have more access to
information but also have access to more dealers.
In the past, consumers were limited to dealers in their local
area. The increase in the amount of information available to
consumers has brought consumers a quick and easy way to
analyze not only different prices via internet quotes but also
to identify who they want to do business with. Customers
simply have too many choices and will quickly discard
dealers they feel are hiding something. Hiding (or reducing)
the amount of information available to consumers will only
make them trust you less.
23. The days of internet-savvy customers being
in the minority are long gone.
The internet is probably never going to take over car
buying and it’s likely that dealerships will continue
to be the primary way that customers will purchase
vehicles. But remember this; while customers may
always choose to do business with dealerships, they
don’t have to choose to do business with your
dealership. Just because customers shop your
competitors with a perceived better deal, it doesn’t
mean they’ll buy there.
24. REASON #3 – Reduce Chargebacks
Once the ether wears off and the customer goes
home and reads the contract how much do you get
to keep?
25. REASON #2 – You’ll Stand Out From Your
Competition
What percentage of dealers are transparent today?
There’s an opportunity to not only be transparent, but to
trumpet the dealership's transparency. The "friendly,
courteous dealer" claim doesn’t resonate with very
many consumers anymore. However, using transparent
processes to clearly demonstrate the honesty of the store
can and does resonate.
27. REASON #1 – Transparency Is What Your
Customers Have Been Begging For, Why Not Treat
Them The Way They Want To Be Treated?
“The difficulty lies not so much in developing new
ideas as in escaping from old ones” - John
Maynard Keynes
TRANSPARENCY IS NOT A DIRTY
WORD BUT COMPLACENCY IS