The true definition of a customer-first mindset is meeting customers where they are. In the digital era of transparency, dealers increase market share when they acknowledge that customers have taken control of the buying process.
Digital transformation has changed the way automotive dealerships conduct business. The product-centric model is obsolete- having been replaced by a customer-centric sales model. From the service drive to the front office, digital transformation has improved efficiencies, scaled operations, and managed facilities. Why are dealers waiting?
The buyer’s experience is a critical component of any retail experience; by 2020, it will surpass product and price as a vital consideration of purchase. Buying anything, particularly a big-ticket item like a car is an emotional experience. Human beings are emotional creatures.
In today’s world, people are finding themselves busier than ever before. In some ways, technology has made our lives more comfortable, and everyday tasks that used to take hours now happen within a fraction of the time. As technology has made parts of our lives faster and easier, we’ve responded by filling our time with more and more activities.
Selling ancillary products is paramount to dealership profitability. Driving results in the F&I department has become central to the modern dealership strategy. The importance of F&I earnings increases as front-end margins compress, interest rates rise, and SAAR cools. With the adoption of digital retail, F&I is moving upstream in the customer buying process.
Getting consumers to your showroom instead of the competitors is always challenging. With resources devoted to sales, service, and administration it’s hard to allocate time and personnel to Social Media. It’s certainly hard to measure ROI without link tagging and Google Analytics setup. The only catch with shorting Social Media activities is that’s where your customers are. Social media isn’t necessarily hard, but you need a plan. Digital Dealership Tips are meant to give you quick “snackable” tips that can be applied right away.
Over the last few years, we’ve been hard at work developing an end-to-end commerce solution. You may have heard the term ‘digital retailing’. There are many meanings floating around. It could be a confusing term. Let’s unpack what it really means. At AutoFi, digital retailing means a platform that can transact with customers, in real-time.
Imagine what would happen if your shoppers could experience a digital retail solution right on your website. If the customer could price, structure a deal, value trade-ins, include your protection plans, and select a car conveniently from a mobile device or in-store, how would that change your business? What would happen if your website could also convert those shoppers to buyers with an integrated lender decision?
The modern consumer is driving changes in online car purchasing. Technology seems to evolve faster and faster as time goes on. Once we get used to one gadget, there’s something new. There’s a continuous learning curve, and it’s not always easy to keep up. While some of us are happy […]
How to Overcome Car Dealership Challenges For car dealerships, some challenges remain the same: competition, a haggling reputation, and attracting new customers. With the economy and technological innovations in constant flux, it can be difficult for business owners in all industries to keep up with changes and meet challenges head-on. […]
Most shoppers consider the car buying experience to be less than optimal. Water, coffee, or even a small snack are not enough to keep them on your dealership floor. Explore the way car shopping has changed and what you can do.