So you think you are digitally excelling, but do you actually sell digitally?10 September 2019
Modern customers want more than the motor trade is offering.
Although the motor trade is advanced in so many ways in regard to retail, it has so far lacked a comprehensive solution for true online purchasing.
Take a look at most groups used car listings and you will see the extent of digital selling consists of online enquiries function, live chat, request video and perhaps a customisable finance calculator. Think of your sales process, ‘Enquiry’ sits at the opposite end from ‘Order’ yet we don’t offer the ability for a guest to reach this stage without travelling to the dealership or calling a sales team early on in the buying journey. When you think about this in comparison to what the online purchaser is expecting of today (Amazon, eBay, Uber) then it is quite primitive. Modern car buyers have preferences that have moved far beyond what most are accommodating, and convenience is now arguably the most prominent factor, especially in the 25-35 age group. We live in a click and collect society where you can order almost any product from your phone within a couple of minutes, but the motor trade has not kept up with these demands. The complexities of a car purchase will contribute to this but with one third of buyers now comfortable about purchasing a car online, it certainly won’t stay this way. So far, the consumer has perhaps had to forego their preference for this due to lack of facility but now that has changed. It will be the dealerships who change first and quickly who will see the most substantial gains.
With a tightening marketplace, dealers are generally seeing lead volumes decrease. The requirement to just hold current market share likely means an increase in marketing spend, greater discounts and generally an even tougher fight.
SilverBullet provides the solution to this in a mobile friendly, convenient platform which integrates with your own used car listings website. We allow your own leads to do business with you online 24/7, saving you time, speeding up stock turnover and increasing your profit simultaneously.
In August we demonstrated the following for one of our major clients:
- 10% of all sales originated in SilverBullet.
- 50% time saved in Showroom for staff and customer.
- 90% finance penetration.
- £338 average benefit per unit sold.
- 12% increase in chassis profit.
- £175 average increase in F&I profit