For true competitors, winning just isn’t enough. You want to be in a league all your own. Here are 3 all-star tactics to elevate your game to new heights and leave the competition in the dust.
Centered around the customer, these tactics are the same ones that leading retailers like Amazon and Apple are using to completely dominate the market. And with nearly 17,000 franchised and 20,000 independent car dealers in the U.S., savvy car dealers are using these tactics to get ahead.
Tactic #1: Sell More by Listening More
Customers’ preferences are constantly shifting. Strategies that have worked in the past are no longer relevant. And yet, many dealers are using essentially the same techniques as they did 10 years ago: focusing on lead forms and competing on price. Today’s customers want a new experience. For example, 8 out of 10 prefer a no-pressure, unaccompanied test drive. Listen more to your customers, deliver the experience they’re asking for, and they’ll be more likely to buy from you.
Tactic #2: Increase Profits with Transparent Pricing
Customers crave transparency. They’ll go out of their way to find it. But many dealers worry that transparency, especially when it comes to price, will compress margins. This is a myth. Customers are willing to pay more for transparency. Dealers that offer transparent online pricing actually increase gross profit per vehicle by $785. To customers, price transparency is the most important differentiator between dealerships. The clear path to higher profits is to offer more transparency. You’ll also sell more cars and earn loyal customers.
Tactic #3: Upgrade Your Experience with Technology
Dealers know the average car shopper spends 13 hours researching vehicles online. So why is the final step – the actual purchase – so different? Customers want technology to make buying a car easier and more convenient. Only 26% of shoppers actually fill out a lead form, yet nearly 9 out of 10 customers are more likely to buy from a dealership that offers online checkout. What’s more, dealers that use Drive Motors’ online checkout increase average F&I profit by $500. Use technology to upgrade your customer experience and you can upgrade your bottom line, too.
Implement Your Winning Strategy
Learn more ways to implement this winning strategy at your dealership. Download your free ebook, When Winning Isn’t Enough.
Do you want to upgrade your experience with technology? Learn more about Drive Motors’ online checkout and showroom solutions to see how you can increase PVR by $500. Request your demo today.