CONSUMERS & THE CAR BUYING PROCESSSix Ways to Turn Resistant Prospects Into Raving Advocates

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2

1

NO

81%

YES

19%

GOOGLE CONSUMER SURVEY

Q: Do you enjoy the car buying process?

We’re quite fond of “dealership groupies.” You know the kind – the rare breed who loves shopping for cars and can’t wait to get into your dealership for a test drive. While these prospects seem to enjoy everything about the car buying process, what about the rest of your customers?

DealerSocket recently partnered with Google Consumer Surveys to reach more than 2,000 consumers who purchased a vehicle in the last 12 months.

The No. 1 reason these customers dislike the car buying process so much: “I don’t trust the sales people.” A distant second was: “It’s too time consuming.”

The sobering truth is these customers will walk away if something isn’t right. What should you do if one comes your way? You can forge a relationship and even convert them into loyal, repeat buyers following six easy guidelines.

The No. 1

reason these

customers

dislike the

car buying

process

so much:

“I don’t trust

the sales

people.”

CONSUMERS & THE CAR BUYING PROCESS: SIX WAYS TO

TURN RESISTANT PROSPECTS INTO RAVING ADVOCATES

The demographic segments who said they dislike it most:

Age

45–54 yrs oldGender

FemaleIncome

$25K – $50K

Don’t trust sales people

Too time consuming

Worry about getting a fair price

Negotiation process

Pressure to buy

Lack of knowledge about the process

Q: What don’t you like about the car buying process?

15% 35%

29%19%

1. KNOW WHO YOUR CUSTOMER IS

When a prospect visits your store, do you know his or her name? The last time that prospect was on your website? What vehicles he or she has been searching for? Between today’s CRM and website technology — and the sophisticated integrations that connect the two — dealers can draw upon a massive amount of data to inform their interactions with customers. As a result, both buyers and dealers enjoy a far smoother experience.

To win over a buyer, especially one who already isn’t a huge fan of car shopping, you must allow them to drive the process. This means treating your website as your primary showroom, where consumers can gather as much data about your available vehicles as they wish. It also means adopting the technology necessary to communicate through relevant texts and emails, as well as allowing the customer to complete an increasingly large part of the transaction online.

When you consider a customer’s point of view, allowing your salespeople to constantly disappear behind closed doors to speak to their manager only reinforces the perception that it is an adversarial, disconnected environment. Some customers may look past all the waiting, but prospects who already feel uncomfortable may not be so understanding. Consider implementing mobile technology that allows your salespeople to negotiate and book a deal while staying right by the customer’s side.

2. CONDUCT THE PROCESS WHEN, WHERE AND HOW THE CUSTOMER WANTS

3. DESK A DEAL WITHOUT EVER LEAVING THE CUSTOMER’S SIDE

Between today’s CRM and website technology – and

the sophisticated integrations that connect the two –

dealers can apply a massive amount of data to tailor their

interactions with customers.

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CONSUMERS & THE CAR BUYING PROCESS: SIX WAYS TO

TURN RESISTANT PROSPECTS INTO RAVING ADVOCATES

4. BE TRANSPARENT ABOUT TRADE-INS

According to our survey, 75 percent of consumers do not believe they get fair value for their trade-in at the dealership. In this case, increasing transparency can make a prospect feel more confident in the process. You can boost transparency with inventory management technology that illustrates the specific costs of vehicle sales, including reconditioning, to help customers understand why they are offered a certain trade-in value.

When software is inefficient or lacks integration with other systems, the result is a customer who is tired and asked to repeat the same information over and over before finally sealing the deal. To make matters worse, some repeated data may be entered with errors. When you ask your customer for his or her information only once and that data gets pushed automatically to all your systems, you create a pleasant experience that breeds loyalty instead of annoyance.

One of the most overlooked opportunities in the car industry is being able to reach out to the right customers at the right time to secure repeat business. According to our survey, more than one-third of car buyers would like to be notified when they are in an equity position. Along those same lines, what if you could access filtered lists of customers who are nearing finance termination and have not been repo’d, or customers who just spent more than $500 in your service lane on a repair? You could easily snag extra sales with such relevant, timely communication, and today’s technology makes it possible.

5. ELIMINATE REDUNDANCIES THAT WASTE TIME

6. FOLLOW UP WITH RELEVANT INFORMATION

75% of consumers do not believe they get a fair

value for their trade-in at the dealership. In this case,

increasing transparency can make a prospect feel

more confident in the process.

888.992.9689DEALERSOCKET.COM/IND

For more information on DealerSocket’s integrated solutions customized for independent dealerships, visit dealersocket.com/ind.

CONSUMERS & THE CAR BUYING PROCESS: SIX WAYS TO

TURN RESISTANT PROSPECTS INTO RAVING ADVOCATES