SIMPLE AND POWERFUL NEW MOBILE TOOLS HELP DEALERSHIPS SHOWCASE THEIR INVENTORY ONLINE — QUICKLY
In my June 2014 column, I wrote about the importance of ensuring that your initial response to an online request was constructed properly and that it included five specific attributes that would increase your close rate.
Well I’m pleased to announce that the company I lead, SCI MarketView, was recently awarded the DrivingSales 2015 Most Valuable Insight on that very same topic.
We presented findings from our recent white paper study to a group of approximately 300 Dealer Principals and industry experts in early April.
This white paper titled “The Relationship of Sales to an Initial Quality Response” (IQR) proved the direct correlation between an IQR and increased close rates.
In my June article, I referred to the merits of an IQR and how important it is to respond quickly, but more importantly, to respond well.
This study quantified what we have always believed to be the case — that a quality response which includes the five key elements has a significantly higher rate of conversion and close.
We also know that consumers are visiting fewer showrooms than five years ago. Recent Automotive industry stats show that rate to be at 1.4 dealerships compared to 4.5 in 2005.
That’s right. Consumers only visit an average of 1.4 dealerships before they buy a vehicle. Now, I’m not convinced it’s that low but it begs the question — what are you doing to make sure you are part of the limited amount of dealerships the customer is willing to visit? What’s your competitive edge?
Our white paper findings simply scratches the surface of what dealerships need to do to get that ever important competitive edge over the dealership down the street.
The issue still remains: How do I set my dealership apart from all the others to make sure that I’m part of that 1.4 average?
My industry colleague Jay Radke of cDemo says the following when he refers to merchandising vehicles: “Capturing consumers at the right time in this modern buying cycle relies on the execution of a great online merchandising strategy.”
In other words, this truly is the first step in modern online automobile sales and merchandising and should be the bedrock of your overall digital strategy at any dealership.
The dominance of mobile devices allows you and your team to effectively and efficiently capture, upload, and share your vehicle-based content by putting the power into the palm of your hand.
Unfortunately, online merchandising is truly overlooked as a core function of the dealership today. However, I’m here to tell you that those who commit to it will reap the rewards of better search results, and most of all, more sales.
Transactional lifestyle
The 21st century consumer has been changed forever by the latest online shopping experiences provided by the likes of Amazon and Zappos.
These consumer sites are built on customer engagement, and the simplicity of providing shoppers with deep transactional details, photos and sometimes videos to inform and help create that optimal customer experience.
Further to that, more and more consumers are now researching and connecting with products via the mobile web. The mobile device makers, search engines, social media sites and telecom companies will continue to push new boundaries by advancing society further and further every day. Dealers that embrace mobile technology will ultimately control profit-generating variables at the start of their online sales process.
Information is king
Merchandising involves the transfer of data or information (photos, video, stats, features, options, etc.) to drive the 21st century consumer.
Mobile technology is key to that success because without it, dealers couldn’t implement any processes to generate rich data on a real time basis.
While information may be king, transparency is key. The more information about your inventory you provide the consumer — such as vehicle features and current condition, options, vehicle equipment — the better your customers’ experience will be.
But beware, the power of creating a best or worst customer experience is in your hands. If you advertise that the car has leather seats only to have the customer discover them as cloth upon showing up for a test drive, and it may very well cost you a sale.
The power of the lens
Photos and videos are essential. Consider it this way: if consumers are only visiting an average of 1.4 dealerships, you want to provide them with all the vehicle information and intricate details you can.
Your goal is to be part of that limited selection so if you provide them with a digital walkaround of the vehicle they are interested in, you have put yourself one step closer to having them contact you.
Thinking that by not providing that feature will make them want to come in to your dealership to see the car is outdated reasoning. It just doesn’t work like that anymore.
Plus, keep in mind 20 per cent of all used cars purchased by consumers are bought, sight unseen, from dealerships today.
These new mobile technology platform applications which give dealers the data collection processes they need are aligned with 21st century digital marketing strategies.
The nice part is that high end smartphones can produce photos and videos that, when coupled with a smartphone app, speed up your merchandising process, giving you an immediate advantage of speed, organization and efficiency.
According to Radke: “Overlooking the power of technology that is available today inhibits a dealer’s ability to capitalize on the power of the mobile environment. Embracing mobile technology ultimately allows dealers to control profit-generating variables from the start of their online sales process.”
Customers will leave your site if you give them the impression that you aren’t interested in providing them a good online customer experience such as shown by stock photos or a “photo coming soon.”
The more robust your online showroom, the more likely a consumer will view you as a prepared to handle the digital engagement.
Mobile applications that give you a list of all the important photos you need to take and upload will make your task far simpler than if you had to remember every angle and view.
The same goes for video. YouTube videos have very high search engine ranking, and when your strategy includes showcasing your inventory on
a variety of platforms, it’s the place to be.
When done properly, live video shot using mobile technology (and not just a bunch of photos presented in a slideshow with some background music) that has a professionally sounding voiceover, will showcase the vehicle far better for the consumer.
It’s another proven way to enhance the customer experience and demonstrate that you understand their buying process. Live video can become one of your dealership’s biggest lead generators.
Getting to market is key
This measurement may be one of the most important data points when it comes to the bottom line of the dealership. Turning inventory faster and more often is now directly related to how quickly dealers get their inventory to the online marketplace.
In addition, combining faster processes with the use of mobile data collection technology is a major profit capturing benefits for any dealer. Simple math can demonstrate how using one device and increasing your speed to market can produce great results.
Go to market
As with any marketing strategy, the goal is to create more leads, and ultimately, more sales.
A comprehensive merchandising strategy using mobile technology based on providing a robust consumer experience, will position your dealership well in the online world.
Ultimately, the more digital content you chose to share with your customers, the more success you’ll find with those customers choosing to transact with you. It will certainly help you be one of the 1.4 dealerships visited.
