Greg Stacknick – If You Build It They Will Come
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After 10-12 years of selling online, Technology, and BDC enhancements, we turned Dealerships into buying centers. The processes we use focus on the 10% of people we can sell now, not the 100% of people we can monetize at some point. We will look at the best practices from around the country at creating experiences in your store that creates new opportunities across the 90% of people you spent money on to interact with you and you did not monetize.
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Greg Stacknick – If You Build It They Will Come
- 1. Greg Stacknick November 2013 CONTACT TRUECAR 800.200.2000 info@truecar.com TrueCar.com/Dealer 120 Broadway Santa Monica, CA
- 3. The Impact of Trust 3
- 4. Why Is Trust Important? Discountin g Becomes Central Sales Cycles Are Longer Absence of Trust Loyalty Behavior Is Less Likely Marketing Expense Grows
- 5. Many Car Buyers Are Still Apprehensive Least Trusted Professions Industries With Most Customer Complaints 30,000 25,000 20,000 15,000 10,000 5,000 - % of Consumers Expressing Distrust Number of Complaints in 2011 35,000 60% 45% 50% 40% 30% 27% 27% 31% 49% 54% 39% 36% 36% 38% 20% 10% 0% Two thirds of Millennials believe buying a car is one of the most intimidating purchases they can make. 1Better Business Bureau 2011 data 2Gallup, Inc. Survey November 26 to 29, 2012 3Wakefield Research 2010 More than half say that 5 negotiating a car purchase is worse than a trip to the dentist.
- 6. The Local Dealer Does Not Always Get the Business 15% of Purchases Are 30+ Miles Away The Closest Dealer is Leapfrogged 52% % New Vehicle Purchases by Dealership Distance New Vehicle Sales by Dealer Proximity > 60 30 to 60 Miles, 7.1% Miles, 8.8% Closest Dealer 48% <15 Miles, 65.6% 15 to 30 Miles, 18.6% Non-Closest Dealer 52%
- 8. Develop Your Internal Structure
- 9. Build/Manage Your Online Presence Car buyers use the Internet to research their new vehicle purchase Use a Smartphone Use a Tablet 9
- 10. Build/Manage Your Online Presence
- 11. Provide an Exceptional Customer Experience
- 12. Develop a Plan For Success Why You Need A Strategy…
- 13. Best Practices • Understand the customer profile & vehicle requirements • Personalize communication with the customer • Ask the customer how and when they would like to be contacted
- 14. The Outcome of Trust 14
- 15. Gross Follows Volume… Additional Profit Centers Manufacturer Incentives Stair Step Allocation
- 16. THANK CONTACT TRUECAR 800.200.2000 info@truecar.com TrueCar.com/Dealer 120 Broadway Santa Monica, CA Be sure to visit TrueCar.com/Dealer for more information and updates.