TECHNOLOGY – If you don’t stay up – the guy down the street might!
I really studied information that was recently released from the Dealer Digital Conference in Orlando and here are a few of the STRONG statements and reports given by numerous providers:
* The Internet is used as the Number One Source 58% of the time
* The Average person spend 11 hours researching on the Internet prior to phoning, e-mailing or visiting a dealership.
FAST OBSERVATIONS AND IDEAS: When people visit your website – how long do they stay on your site. What are you doing to keep them their? “CarFax / Auto Check”? Takes them quit a bit of time to read that material. How many pictures do you have? 9 – 24 – 35. What about videos – how many do you have offered on your site? Not just the factory ones, how many have you done? What about links to your Testimonials with your car listings? This would keep people on your site. What I see is we do not do enough to keep people’s attention for any great portion of that 11 hours they are going to search.
V-Auto / FirstLook / AAX – I cannot believe that any dealership today is not using one of these services! It provides information you have at your fingertips. They give you current knowledge of your marketplace. The show you which cars to list on the Internet and at the most salable price.
For years, I have been training salespeople and BDC people to handle Internet leads – and I can teach them the best words, the best e-mail responses – but if the units listed on your site aren’t what people are looking for, you don’t offer information to keep them on your site, you are not priced properly – the Internet department CAN’T produce the results you are looking for.
FAST OBSERVATIONS AND IDEAS: Imagine your Finance Department without the current technology of today’s selling systems? Get your new and used vehicle departments in the game today. . If you don’t have V-Auto, First Look or AAX you should reconsider now.
If you have one of these see how well you can answer the following questions:
- What are the Top 10 units you have sold in the past 60 days?
- What are the Top 10 units sold in your marketplace?
- How often when you are doing appraisals do you actually view
- How Many of those units are in your market – their ages – what they are being sold for?
- Then – look at the history of the potential trade – how many have sold, at what price – with how many miles – how many days in inventory?
If you don’t know these answers be careful – the guy down the street may know them and that gives him a pretty strong advantage.
Trade In MarketPlace – about 6 months ago one of my customers and he absolutely loves it. Recently, I spoke with a young gentleman, Bill Pearson from Peoria, Ill. You may have heard of him – maybe you haven’t. Bill took a dealership that was doing 50 used units per month and with AutoTrader, V-Auto and a lot of hard work built it to selling machine producing 300 units per month in less than 2 years. You can read more about his story in the book Velocity 2.0.
According to Bill if you are not using Trade In MarketPlace you are missing one of the most revolutionary tools brought to the marketplace in years.
FAST OBSERVATIONS AND IDEAS: Get in touch with your AutoTrader Rep and get a demonstration. You have never seen a tool that gives you total control of the trade value and the customer sets the number themselves. You absolutely 100% eliminate this portion of the “hassle” of selling a vehicle.
I hope these ideas help you sell more cars. If I can help – give me a call. Scott Hembrough – (815) 978-5038