3 Digital Upgrades for Independent Dealers to Consider
Right now, the independent merchants I’ve spoken to are dominating. Before the chip problem, which continues to make purchasing high-quality used cars difficult, they bought up inventory. The price of used cars rose by a record 10 percent in April due to consumer demand, the largest monthly gain in more than a decade.
How long will it endure, though? When factories resume regular production, there will be a more even balance between supply and demand for old cars. Now is the time to consider what your dealership can do to keep consumers interested and revenue high when demand returns to normal.
One of the best investments you can make is in technology that facilitates simpler vehicle shopping, a quicker purchasing process, and effective lead follow-up. The top three digital improvements independent dealers require to match fantastic vehicles with nearby clients who need them are listed below.
tools for digital retailing. Give customers several options for making purchases. Although not all buyers will finish the entire online purchasing process, the vast majority wish to start there. Digital retailing features on your website enhance your professionalism and brand image, in addition to making buying simpler. You don’t want what appears to be a home-grown website in 2022 that’s difficult to use and provides scant information about vehicles. The best independent websites I’ve come across are sleek and up-to-date, with simple navigation that guides customers through interactive inventory images, finance applications, monthly payment calculators, and trade-in valuations. The most impressive I’ve seen allows you to enter a monthly budget and see every vehicle on the lot within that limit, which is something most franchised dealers don’t do. It’s engaging, really beneficial, and compels me to visit that store. Let’s quickly disprove the age-old claim that transparent pricing and digital selling reduce gross. Simply put, it’s untrue. Giving customers what they want on their terms really allows you to keep gross since the customer enters your store prepared to make a purchase. Since they completed the task online, there hasn’t been any back and forth.
tools for e-contracting and financing. Permit customers to progress through the transaction. Pre-approvals and financing choices are excellent internet selling tools. Customers who have received pre-approval can choose a vehicle and visit your shop with assurance. It’s not embarrassing when a wanted car turns out to be too expensive. Another major selling feature is e-contracting, which many independents are already utilizing. With digital signatures, a used sale is simpler and quicker to complete than with franchised dealers, where incentives and special programs can complicate the paperwork. While it’s true that some banks are tightening lending standards, there are still plenty of excellent alternatives, such as Ally Bank and Credit One, which may make excellent partners.
CRM that supports workflow. Improved lead follow-up will help you land more opportunities. Despite receiving twice as many leads as a franchised business, the average independent dealer admits that they don’t do a good job of following up. You may nurture those leads for increased sales by using a CRM with workflow features, follow-up alerts, auto-responders, and the capacity to send email blasts. Most CRMs can also integrate with apps that advance customer communications. With the Quickpage Video Sales App, for instance, your sales team may make and text videos to customers, such as vehicle walkarounds, and keep the history of such communications in your CRM. Videos are intimate and difficult to ignore. Who could ever refuse to click a video link from a reliable source? Additionally, you may see the complete relationship at a look to better focus your next conversation as all communications adhere to a client within the CRM.
Unprecedented demand for secondhand cars is helping independent sellers make money. But this market’s time is limited. To maintain engagement and revenues high even as the market stabilizes, invest in these top three digital improvements to connect local customers with the automobiles they need.
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