Time Is Certainly Money
Numerous factors have contributed to a decline in customer satisfaction over the past two years, but one that customers regularly cite is time. Consumers’ overall satisfaction with the buying process and the value they receive from the dealership are closely correlated with the length of time it takes to complete the transaction.
Consumers are aware that the old procedure is no longer essential, which required them to put up with filling out paperwork and waiting for permissions for a whole day. Consumers consequently anticipate a superior, more contemporary, and practical experience, comparable to what they have grown accustomed to when making other purchases, both significant and trivial.
Both online and dealership time increased in 2022, but dealership time is where consumers are most dissatisfied with the process overall. In fact, the completion of the finance application procedure online can save the customer an average of 2 hours at the dealership, according to Cox’s 2022 Car Buyer Journey Top Trends report*. According to the report, 44% of customers say they will only shop online at stores that help them fulfill their prerequisites for purchases online. With a user-friendly, streamlined online and mobile approach, progressive, technically adept solution providers are coming up with innovative solutions to cater to consumers who are concerned about the value of their time.
Without a significant investment in modernization, dealerships that are unable to take advantage of today’s technological advancements to provide customers with the convenient, user-friendly experience they demand are so far behind their more technologically advanced rivals.
Utilizing the technical know-how and sophistication of SimpSocial has proven to be a very cost-effective way for hundreds of dealerships throughout the nation to streamline their customer experiences and convince customers that any necessary in-person appointments would be worthwhile.
The CEO of Cars.com, Alex Vetter, was quoted as saying last week that less tech-savvy dealers still had a long way to go.
“If you look at younger generations, they use technology at a pace that is four to five times that of the typical owner-operator…… Dealers that adopt a digital-first, completely transparent online [approach] are winning the game. The prices in-store and online are identical. From our website, you can get in touch with us directly, start your adventure, and request any services you need. These are the dealers who are expanding the market and advancing the industry.
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