In the conventional dealer networks, tremendous improvement opportunities exist along two basic functional paths: reducing costs and raising customer satisfaction. Most manufacturers and many large channel players are jumping at these opportunities, given their magnitude. However, these players tend to select a limited number of programs, and they typically concentrate on single functional improvements independently or on a single functional path.
The marketing environment is making a hard shift. It’s moving away from fragmentation to consolidation in products. The winners? Dealers who can use technology differently within a newer operations model that combines different functional roles and simplifies time-wasting activities.
The push for marketing relevance will be extremely important as each one of these behavioral trends continues to grow in 2018. Longer, specific content which matches buyer intent will improve voice related search experiences.
This leads to our third trend: Diversified Content. We are often told as automotive marketers that we need to create blog posts, post on social media, get reviews and use many more platforms. It can feel very overwhelming.
One of the easiest ways to increase user experience on your site is to leverage a live chat system. Anyone browsing listings on your page is actively looking for a vehicle, so the best way to harness that potential lead is to message them directly. When a user visits any page on a website, there’s a small banner at the bottom of the screen that opens up into a chat, where they can ask anything that they need assistance with, and you’ll get an immediate notification. Once you’ve assisted them, you can use the live chat to bring them into the dealership by offering a free test drive of the vehicle they’re interested in.
Having a relationship with a local mechanic will always pay off because you can throw business to each other consistently. If you’re offering maintenance seminars, have the mechanic come in to teach some basics. They’ll get exposure too and you’ll get some added exposure at their shop.
I had the opportunity to sit down with an old friend, and one of the top automotive professionals in the industry, to ask a few questions about their new car buying program – Kevin Frye, eCommerce Director for the Jeff Wyler Automotive Family.
3. Don’t be afraid to listen to dealership suggestions. I’m not talking about bait and switch, but salespeople offering really good alternatives. When I sold cars, it was common for people to come looking for a particular model because of its low sticker price, but then drive out with a nicer car at the same or a lower price, thanks to the special programs and incentives that they didn’t know existed.
Let’s say you write an article about your end-of-the-year clearance sale. You can use it as a blog post on your site, change it into an email, into a landing page, tweet it out, and add it to your Facebook page. You can repurpose that same content across multiple channels.
To begin with this was a fairly straightforward brand/media collaboration, but thanks to the campaigns online hub, over 230,000 users got involved, prompting Nissan to shift things up a notch and produce an actual Batmobilised version of the JUKE for sale:
As an example, if someone looks at a red truck on your website, they would receive an email with information about the red truck, they would see ads for the red truck, and your sales team would be alerted about the potential customer.
Today’s automotive direct mailer is more interactive and exciting than ever, leading to increased response rates. New envelopes, attachments, and other innovations have made well-crafted automotive direct mail almost impossible for the customer to ignore.
The needs of the luxury car market differ greatly from the needs of the standard automotive market. Luxury car buyers think and act differently, which means automotive marketers need to take a different approach when marketing to these customers.
There is no doubt new digital technologies are changing the banking industry. Banks that embrace innovation and adopt new technologies have unprecedented opportunities to change and improve how they provide financial services including offering the ability to:
11. People like to talk about themselves. Yes, even the shy and introverted customers like to talk about themselves. If you can get them to trust you and build some rapport you can get even the shyest people to talk your ear off and provide you with everything you need to know to sell them a car. So of all the car salesman tips asking questions will help you get them to open up and talk. This will help you learn about them and build rapport.
I get paid a commission every time I sell a car. My commission is a percentage of the profit. At the dealership where I work, I get paid 25 percent of the “front-end” profit and 5 percent of the “back end.” The front-end profit is made on the purchase price of the car. The back-end profit is found in financing and anything else we sell you, such as extended service contracts or GAP insurance.
49. It’s common to trade in a car that has a loan or lease balance. As a rule, the dealership should pay off the trade-in within 10 days. Call the lender about two weeks after making your new deal to ensure that the car has been paid off. If it hasn’t, get in touch with the dealership to find out about the delay.
By no stretch of the imagination is there evidence that the great migration into digital marketing is losing its way or turning around. But nor is it fair to characterize dealers at the rear of the migration as merely tech-challenged stragglers.
Car dealers are in the business of selling cars to consumers, not financing cars that consumers buy. So, this box advises you that after you sign the purchase contract and leave with the car, the dealership is going to find a finance company or bank to buy your contract. This language gives a car dealer the opportunity to find someone to buy your purchase contract. Most of the time this is not a problem. However, if the car dealer cannot find someone to buy your purchase contract, it can cancel the purchase contract. But, the car dealer must notify you within 10 days of the date on the purchase contract. If it does not, then the purchase is final and cannot be cancelled. Every purchase contract relating to a car purchase in California that I have reviewed has included this provision in it, and our firm has seen thousands of purchase contracts.
For example, Home Depot is attempting to capture additional market segments with new channels and formats, such as its Expo design stores, home installation services and Internet sales. In the consumer durables categories, the “category killer” format typically captures 30 percent to 40 percent of the market, leaving most of the rest spread among two or three other formats.
To be effective and successful selling cars, there are certain abilities, knowledge, and skills that prospective employers will be expecting that you are bringing to the table even though they might still give you some form of training on the job.
For example, if I sell a car for $25,000 and there is a $1000 profit, or “gross” on the front end, I’m paid a $250 commission. If the customer finances through the dealership and we make $1000 on the back end, I get another 5 percent, or $50. Total commission before taxes: $300.
5 Big ideas to Improve Used Vehicle Profitability in 2018 Making money in used vehicles can be a very lucrative side of the automotive business, yet most dealers leave a great deal of margin on the table with each transaction. To really be good at this side of the business, it helps to understand some of the larger economic…Continue
There are positives to buying used. Most importantly you will get more value your dollar since somebody else took the huge hit on the initial depreciation. This hit is the largest source of lost money when buying a car. By following our used car buying guide you will learn how to avoid the common scams and pitfalls.
So what do you do? You’ve been in the car business long enough to know that buyers are online-based. Getting them into the dealership starts with smart marketing, focused targeting, and quality incentives. You’re in a time crunch, so it’s a good idea to follow a step-by-step process and focus on the areas that matter.