the internet and phones are the new showroom and the key to 88 million millennials
TRANSCRIPT
TheInternetAndPhonesAreTheNewShowroomAndTheKeyTo88MillionMillennials
SeanV.Bradley,CSP,MSGPresident|DealerSynergy|Audubon,NJ267.3139.6776|[email protected]
@seanvbradley#NADA100
#NADA100
Everythingbeginswithachoice
2
Changethewayyoudobusinessorremaininyourcurrentstate
#NADA100
YouCANchangeyourparadigm
3
Thereare80millionopportuniEesoutthere
#NADA100
4
80MillionMillennials
#NADA100
WhoaretheseMillennials
5
FirstgeneraEonwhodon’tknowlifewithouttheinternet&personaltechdevices
• Age:19-35(in2016)• NOTinfluencedbyadverEsing• RatherBUYacarandLEASEahouse• ReviewblogsBEFOREpurchasing• ValueAUTHENTICITYovercontent
hVp://www.forbes.com/sites/danschawbel/2015/01/20/10-new-findings-about-the-millennial-consumer/#30be755e28a8
#NADA100
WhatareMillennialslookingfor
6
Millennialsareleadingachangeinpurchasetrends
• OnDemandaccess–MobileStrategy• SocialMediaforshoppinginformaEon• PricesensiEve• HighvaluediscountsOVERinstantdiscounts• LOYALTYprograms
hVp://www.forbes.com/sites/danschawbel/2015/01/20/10-new-findings-about-the-millennial-consumer/#30be755e28a8
#NADA100
StaUsUcsonMillennials
7
Millennialsareleadingachangeinpurchasetrends
• 89%shopmobilefirst(712millionshoppers)
• 46%preferAmazonforshopping• 43%preferGoogleforshopping• 88%prefertopurchaseonline• 69%belongtoloyaltyprograms• $2.45trillioninannualspending
hVps://www.entrepreneur.com/arEcle/253582
#NADA100
Whyshouldyoucare?
8
MillennialsAREbuyingcars
• Newcarssalesincreased18%to27%from2010to2014• $1,464averagespendperconsumerunit(new)• $2,030averagespendperconsumerunit(used)• SmallSUVssoldwellin2015• Prefer“pracEcal”vehiclesbutaspireto“sophisEcated”,“innovaEve”&“stylish”vehicles
hVps://www.bloomberg.com/view/arEcles/2016-01-04/millennials-are-buying-cars-aeer-all
#NADA100
Expandingonlineopportunity
9
InternetMarketplaceisBOOMING
• 244millionAmazonusers• 54millionPrimeusers• PricesensiEve• Netsales88.99billion(2014)• 44%gotoAmazonforproductsearches
hVp://expandedramblings.com/index.php/amazon-staEsEcs/
#NADA100
TheAutomoUveMarketplace
10
RealopportunityexistsontheInternet
• 12.5hoursspentshoppingonline• 7.9websitesvisitedbeforebuying• 45%ofEmeisspenton3rdPartysites• 75%ofpurchasescomefromtheinternet(new)• 77%ofpurchasescomefromtheinternet(used)• Leasingaccountsfor29%ofallnewretailsales• 18.1millionnewcar&trucksalesin2016
hVps://www.impactbnd.com/blog/mobile-markeEng-staEsEcs-for-2016hVp://www.dealermarkeEng.com/2015-auto-sales-trends-and-2016-projecEons-from-edmunds-com/
#NADA100
AMobileMarketplace
11
Itisamobileworld
• 34%ONLYusemobiledevicestoreademail• 80%ofinternetusersownasmartphone• 48%ofconsumersstartmobileresearchwithasearchengine• 33%ofconsumersstartmobileresearchwithabrandedwebsite• 26%ofconsumersstartmobileresearchwithabrandedapp• 50%ofsmartphoneusersgrabtheirdeviceImmediatelyaeerwakingup
hVps://www.impactbnd.com/blog/mobile-markeEng-staEsEcs-for-2016
#NADA100
AutomoUveMobileMarketplace
12
Theopportunityisyoursforthetaking
• 88%ofcustomersusetheinternettocarshop• 46%usemulEpledevicestogettodealerwebsites• 14%usemobiletogettodealerwebsites
hVp://www.datamentors.com/blog/key-insights-understanding-2016-car-buyer%E2%80%99s-journey
#NADA100
AutomoUveMobileMarketplace
13
MoreEmeisbeingspentshopping
• 59%ofEmeisspentonlinebeforepurchase• 71%Research• 68%Searchingvehicles• 64%comparingvehicles• 63%findcurrentcarworth• 46%Locatedealerorgetinfo
hVp://www.datamentors.com/blog/key-insights-understanding-2016-car-buyer%E2%80%99s-journey
#NADA100
GoogleMicroMoments
14
InTheMomentImmediate.Relevant.FricEonless
• 82%evaluatebuyingdecisions• 62%solveunexpectedproblems• 90%pursuebiggoalsin• 91%trynewthings
hVps://www.thinkwithgoogle.com/micromoments/intro.html
#NADA100
GoogleTrends
15
• 78%ofwebsearchvolume• 2trillionannualsearches• 2.3millionsearchespersecond• 89%oftheUSmobileorganicmarket• 1.7billiontotalusers• 60trillionwebpagesindexed
hVp://www.internetlivestats.com/google-search-staEsEcs/hVp://expandedramblings.com/index.php/by-the-numbers-a-giganEc-list-of-google-stats-and-facts/
#NADA100
YouTubeTrends
16
• Over1billionusers(2/3oftheplanet)• 4billionvideoviewsperday• 40minutesaverageviewingsession• 6billionvideoswatchedpermonth• 300hoursperminuteofnewcontentuploads• Thenumberofchannelsearningsixfiguresisup50%• ReachesmoreMillennialsthananycablenetwork
hVps://www.youtube.com/yt/press/staEsEcs.htmlhVp://expandedramblings.com/index.php/youtube-staEsEcs/
#NADA100
AutomoUveTrends
17
80%ofALLtransacEonsstartonsearch
• 22%ofautoshoppersaremillennials• 70%ofshoppersaremen• Womendrive80%ofALLconsumerpurchasing• 3xmoreEmespentresearchingthanin2013• 75%ofsearcheswasperformedondigital• 1in3adultswatchautocontentonYouTubeonceamonth• BoldbrandsthinkDigitalFIRST
hVps://www.thinkwithgoogle.com/infographics/digital-trends-auto-shoppers-july-2016.htmlhVps://www.thinkwithgoogle.com/arEcles/auto-trends-consumer-behavior.html
hVp://www.forbes.com/sites/bridgetbrennan/2015/01/21/top-10-things-everyone-should-know-about-women-consumers/#4130e712897d
#NADA100
18
Inmarketbuyersonlyvisit1.2dealerships
beforemakingapurchase
#NADA100
19
TheInternetandPhonesarethenewShowroom
#NADA100
Re-allocateresources20
#NADA100
BuildtheInfrastructure
21
#NADA100
BuildtheInfrastructureRealityCheck
22
300CarsaMonth
27SalespeopleGeneraEng111unitsfromPhone/InternetDepartment
189RemainingUnitsfromtheShowroom
27Salespeople/189Units=7UnitsPerSalesperson
8WaystoSellaCar-2Ways(Phone/Internet)=6Ways
Increase2Unitsx27Salespeople=54AddiEonalNetUnitsPointofDiminishingReturnonFollowUpfortheShowroom
#NADA100
BuildtheInfrastructure
23
#NADA100
MaketheInternet&Phonesyourfocus
24
BuildtheInfrastructure
#NADA100
BuildtheInfrastructure25
YouCAN’Tstaffheavyontheshowroomandhope
#NADA100
BuildtheInfrastructureShowroomsetup
26
Divideleadsamongstsalesprofessional
#NADA100
BuildtheInfrastructureBDC/Callcentersetup
27
Segregated&dedicatedsalesteam
#NADA100
BuildtheInfrastructureHybridsetup
28
TeamofInternetsalesconsultants
#NADA100
LeadManagementHowtodisburseleads
29
UsetrainingagendastoquanEfyleaddisbursion
• QualificaEons• CerEficaEons• Leverage(Privilegedriven)
#NADA100
LeadManagementHowmanyleadsperrep?
30
Showroomsalesprofessionals BDC/CallCenter Hybridprofessional
405060Basic Average AboveAverage
80100120150NewAverageAboveSuperior
Avg
80100Basic Average
#NADA100
LeadManagementCRM
31
• Emailopenrate2-4%• PhoneconnecEonrate11-14%• PrimeEmetoconnectonphones6-8pm• Textmessagesareopened98%oftheEme• Videoinemail200-300%read/openrate• SocialmediacommunicaUonstats• AppleFaceUmestats
CRMfollowupstats
#NADA100
LeadManagementCRM
32
• Managethesalespipeline• Managefollowup• DeployAcUonPlans
• Phonecall• Email• Text• Chat• Socialmedia• FaceEme• Skype
hVps://www.swc.com/blog/customer-relaEonship-management/the-three-main-components-crm-system
CRMmasteryiscriEcal
#NADA100
LeadManagementCRM
33
• AcEonplans• Inputworkschedule• EnsureyouareintherotaEontoreceiveleads• Setupautomatedtemplates• Organizetaskandto-dolists• PrioriEzebuckets• UElizereports• ExecuEon
CRMsetupprocess
#NADA100
LeadManagementCRMsetup
34
#NADA100
LeadManagementPhase1Followupprocess
35
Phase1Followupprocess• Email• (1)Phonecall[9a-6p]• (2)Phonecall[6p-8p]• Videoemail• FaceEme• Skype• Socialmedia
Days1-10
#NADA100
LeadManagementPhase2Followupprocess
36
Days11-31
#NADA100
LeadManagementPhase3Followupprocess
37
Days32-90
#NADA100
LeadManagementContentlibrary-Email
38
EmailtemplatesareONEpartofthefollowupstrategy
DevelopUNIQUEtemplates• Compellingsubjectlines• Relevanttextcontent• OpEmizedformobiledelivery• Proper“CalltoAcEon”
#NADA100
LeadManagementContentlibrary–Videoemails
39
Videofollowup
#NADA100
LeadManagementContentlibrary–Voicemailmessages
40
VoicemailmessagesareaCRUCIALfollowupcomponent
DevelopUNIQUEtemplates• TemplatesforEACHday• Varymessagethemes• Proper“CalltoAcEon”• CreaEveinapproach
• Soundboards• YouTube
Hello{customername},thisis{coordinator}
from{dealership}.Ireceivedyourpurchase
requestforthe{yearmakemodel}.Ijust
emailedyouinformaEonaboutthevehicle
andourdealership.Whenyoureadityou
willbepleasantlysurprisedaboutthe
amazingbenefitsofdoingbusinesswithus.
Mynumberis{phonenumber}.Pleasegive
meacalltogooveraddiEonalbenefits.
Mynumberis{phonenumber}Thankyou!"
#NADA100
PhonePhilosophy41
AnInternetsaleispredominatelyaphonesale
#NADA100
PhonePhilosophyOutboundprocess
42
ObjecEve• Secureappointment• SetupTO
Goal• IdenEfyneeds,wants&objecEons• Meetthem• Exceedthem
#NADA100
PhonePhilosophyInboundprocess
43
ObjecEve• IdenEfyneeds,wants&objecEons• Meetthem• Exceedthem
Goal• GatherinformaEon• Secureappointment• SetupTO
#NADA100
PhonePhilosophyTop7reasonspeoplegoonline
44
• Research• Availability• Convenience• Tradein• “Ihatecarsalesmen”• Credit• Whatif’s
#NADA100
PhonePhilosophyScripts
45
Inbound Outbound ObjecEons RebuVals
DevelopscriptsforEVERYsituaEon
#NADA100
PhonePhilosophyValuePackageProposiUon
46
WhatmakesyoudifferentandbeVerthanyourcompeEEon?
• Military/Firstresponders• FirstEmebuyers• Women• Students• Teachers• Serviceperks• Daycareservice• Freefood• Communityinvolvement
#NADA100
Conclusion47
TheInternet&PhonesareMOSTLYafollowupdepartment
Thesuccessformula
• Infrastructure• CRM• Phones
I.C.P.
#NADA100
Conclusion48
IftheInternet&PhonesarethenewShowroomyouneedtomake
themyour#1priority
#NADA100
Conclusion49
9/10peopleprefertoconnectonthephone
YougetONEshottomakeafirstimpression
QuesUons
#NADA100
50
TheInternetAndPhonesAreTheNewShowroomAndTheKeyTo88MillionMillennials
PleasevisittheNADAPavilionintheExpoHallforinformaEononaccessingelectronicversions
ofthispresentaEonandtheaccompanyinghandout
materials,andtoordertheworkshopvideorecording.
SeanV.Bradley,CSP,MSGPresident|DealerSynergy|Audubon,NJ267.3139.6776|[email protected]
@seanvbradley#NADA100