Catering Your Business to Today's Market
As I’m sitting here in front of my laptop, doing my daily catch up on Automotive News, a podcast from Ally caught my attention because, well, the topic sounded interesting. Apparently, it was part 3 of a series related to F&I. I didn’t go back and listen to the other parts as they focused on different matters, but I did find this one was quite informative.
Basically, they discussed specific ways for dealers to succeed in today’s digital market, and the points made also fell in line with some of the things Gerry Gould has discussed in his weekly webinars with Product Prep. Because of this continuing pandemic, many dealers are now fully prepared to assist customers both in-person and online. The topic they discussed was how to engage with a customer digitally and keep their interest. Okay, so, me personally, I like to gather as much information as I can online, so I have a baseline idea of the product I am purchasing. Depending on my research topic, I will either do everything via the internet (and let’s be real, I’m doing this all on my phone), or I will start online and end up talking to someone after. I can also be impatient and want instant gratification (I mean, who doesn’t?). There are times I also enjoy speaking to a person to get all my information because it can be a lot faster if I have questions. All of it comes down to is convenience.
In this day and age, and during this pandemic, most people sit home on their computers or staring at their phones. With technology and the internet so easily accessible, whatever you want is at your fingertips. Dealers who get this, with having information available readily on their websites (and mobile-friendly ones), have a better advantage of capturing the consumer's interest. And I’m not talking about a generic website; I’m talking about an actual website that showcases the cars on your lot, dealer specials, financing options, contact options, etc. The more information the customer can gather from your website, the better, right? If you don’t put the time and effort to make things easier for the consumer, they will find someone. The same can be said for in-store visits and phone calls. Consumers are not only looking for information; they are looking for transparency and convenience. The more comfortable you make it for your consumer, the better chance you will make them into your customer. Gerry also emphasizes this in his webinars. Transparency is key. Be upfront. Be honest. Have integrity. The more you are helpful, the more information you can provide, the more comfortable you make it, the better chance you have to make a sale.
There are many different types of buyers out there. The more information YOU can provide to a consumer, the less likely they will be to search elsewhere for it. Instant gratification – we all want it in some form. Most people don’t like to wait. The longer it takes for you to provide answers to their questions, the more likely they will be to lose interest in you. So I guess my question is, does your dealership and your staff have the tools and education needed to succeed?