Automotive News - October 10, 2016 - Supplement - S4
Not long ago, a consumer's car-buying
experience began at the dealership. The customer
would walk in, eyeball the inventory, discuss
everything from payments to warranties, and
take a test drive. If all went well, a sales associate
converted a tire-kicker into a buyer.
In today's digital age, potential buyers are likely making face-toface contact near the end of the pursuit. Dealers who don't recognize and respond to these purchase trends may be pushing customers back out the door, or never even getting them through the door.
"Almost 100 percent of buyers today are engaging online prior
to buying a car," says Chris May, manager of Sales Process Development for JM&A Group. "There's an inherent trust built through the
digital connection."
May recommends that dealers view their website as the digital
version of their store. Those dealers who don't operate in the digital
4 / JM&A GROUP / OCT '16
"Seventy-one percent of car shoppers
purchase the vehicle they intended to buy
when they walked in the dealership."
While the Internet may not yet be the answer for all a car shopper's needs, it does provide a wealth of information. Car shoppers
now search a variety of third-party websites, such as TrueCar or Edmunds, to research everything-trade-in values, safety ratings and
the inventory of local dealers.
"Seventy-one percent of car shoppers purchase the vehicle they
intended to buy when they walked in the dealership," says May.
"That indicates they've done their due diligence-probably online-before meeting a sales associate in the showroom."
Dealers should focus on satisfying their customers' quest for information on the dealership site, rather than abandon buyers to third-party websites, which may contain ads from competitors. It may be as simple as featuring online product brochures, such as F&I products.
"Historically, and due to competitive pressures, there has been a
reluctance to share dealer information," says Scott Gunnell, vice president of Sales, Strategy and Development for JM&A Group. "But in today's market, transparency and willingness to share information builds
trust, and that increases the likelihood of a consumer starting the buying process online and completing the transaction in your store."
The digital storefront has evolved into more than just a method
of capturing a lead. It's also a way to collect data from a customer to
make the transaction easier once they enter the dealership.
Enhancing the dealership's website to be more transactional is a
recent retail trend, which improves the customer experience. Those
digital tools educate shoppers and help to build their trust, making
consumers more comfortable sharing their information to generate
a vehicle package and calculate payment.
"Most customers know what their monthly payment goal is before they even begin doing their research," explains May. "And by
improving the digital process, car buyers can have that information
ready when they arrive at the dealerships. Sales associates can pick
up the conversation much further down the purchase funnel, reducing the time it takes to complete a transaction."
Darwin Automotive, an Iselin, N.J.-based F&I software company, has developed an application that educates consumers about
vehicle products and services before meeting an F&I manager. By
gathering information about the customer, including ZIP code,
(Continued on page 11)
!&3#'9;3$0c6'8('$;£!#
Knocking
on Digital's
Door
space are likely to lose out to competitors that do.
In a survey of 10,000 consumers in eight countries, conducted
in 2014 by global consulting company Accenture, 33 percent said
they'd definitely go through the entire car-buying process online,
including delivery to their homes; 59 percent said they'd possibly
buy a car online; while 7 percent said they wouldn't.
Table of Contents for the Digital Edition of Automotive News - October 10, 2016 - Supplement
Contents
Automotive News - October 10, 2016 - Supplement - Intro
Automotive News - October 10, 2016 - Supplement - S1
Automotive News - October 10, 2016 - Supplement - S2
Automotive News - October 10, 2016 - Supplement - Contents
Automotive News - October 10, 2016 - Supplement - S4
Automotive News - October 10, 2016 - Supplement - S5
Automotive News - October 10, 2016 - Supplement - S6
Automotive News - October 10, 2016 - Supplement - S7
Automotive News - October 10, 2016 - Supplement - S8
Automotive News - October 10, 2016 - Supplement - S9
Automotive News - October 10, 2016 - Supplement - S10
Automotive News - October 10, 2016 - Supplement - S11
Automotive News - October 10, 2016 - Supplement - S12
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