Are you still treating walk-in traffic as "shoppers"? You know, nice people looking to get some information at your dealership and a bunch of others.
They'll spend some time then go home and think it over trying to decide which car, salesperson, and dealership they like the best.
You'll do a good job so you have a 20-25% chance of getting their business.
Right? Wrong. Give your watch a tap - its stuck in 1999.
Trader Corporation put on a great presentation at the recent Canadian International Auto Show. Their Canadian research echos trends experienced in many international markets.
- 84% of auto shoppers are going online for information
- The buying process shorter - now 16 days
- 42% spend less than a week in-market
- On average, they only visit 1-2 dealerships. 36% will only visit 1 dealer.
When they are ready to buy they just show up. What does this mean? Our customer assumptions are never more true than they are right now:
- They have a want or need. Customers do not engage with a dealership without reason.
- The time is right. Most customers are well researched. Time is only used as a stall to avoid pressure to buy.
- Your dealership is acceptable. If customers contact you, they have a reason.
- Your product is acceptable. Just by contacting you, you know that your product is what they want.
- Your product's price range is acceptable. Customers are well equipped now to assess affordability and transaction prices.
- They may no longer want their current vehicle. If the customer's current vehicle(s) fulfilled all their wants and needs, they wouldn't contact you.
- They are looking for a professional to justify value. The level of professionalism that you display is under scrutiny.
So how do we serve?
- Treat them like the buyer they are.
- Meet them where they are in their process.
- Respect the research and decisions they have already made.
- Match your urgency to theirs.
- Help them do what they want - buy!