Embrace the digital revolution with a listing provider that understands your dealership’s unique needs
Dealerships of every scale and budget are finding themselves in an unprecedented position of competitive equality. A modern, major shift towards a more balanced marketplace can be largely attributed to changing consumer behaviors as more of the shopping, purchasing, and even payment calculation process is now taking place online.
Advancements in listings technology have not only democratized access to tools and platforms once exclusive to larger entities. They’ve also played a role in improving the overall online customer experience. As many as 77 percent of shoppers using these services report a positive experience, according to reports.
Best Practices for Bring Your Vehicles to the Masses
Independent dealers have the unique opportunity to broaden their reach and tap into new customer segments. By leveraging advanced listings technology, dealerships of any size can transcend their traditional local boundaries and engage with out-of-market shoppers. Here are some best practices to communicate your message effectively and expand your reach:
Clear Messaging:
- Shipping Fees: Outline shipping fees clearly. Transparency builds trust and helps shoppers feel more comfortable about the process.
- Buy-Back and Return Policies: Define your buy-back and return policies. Buyers appreciate knowing their options in case they change their minds.
Trade-Ins:
- Describe how trade-ins fit into the mix. Highlight the convenience and benefits of trading in their existing vehicles.
Testimonials:
- Feature testimonials from out-of-market shoppers in reviews and on your website. Real experiences from satisfied buyers can instill confidence in potential customers.
Create a Call Script:
- Reach out to your Dealer Success Consultant for call scripts. These scripts help you connect with potential buyers, educate them about your process, and keep the sale moving smoothly.
Promote Your Services:
- Include information about your services in your regular listings. Make sure potential buyers are aware that you’re advertising beyond your local market. Highlight any unique offerings that set you apart.
Show Off:
- Use high-quality photos to showcase your inventory. More photos than you think are necessary! Consider advanced solutions like Virtual Video Walkarounds to enhance merchandising. Visual content engages buyers and provides a virtual showroom experience.
Remember, winning out-of-market buyers involves not only reaching them but also providing exceptional service and transparency throughout the buying journey.
All Eyes on Your Inventory
Dealers, regardless of their size, must strategically showcase their vehicle inventory on listings technology platforms. These platforms provide a broad reach, connecting dealerships with potential buyers across various channels. However, the real game-changer lies in partnering with data providers who offer a full ecosystem of powerful data.
A data-rich environment empowers dealerships by providing actionable insights into buyer behavior, preferences, and market trends. With accurate data, you can make informed decisions, optimize pricing, and tailor your offerings. Moreover, as web privacy regulations evolve, cookieless environments are becoming the norm. Data partnerships allow you to access valuable insights without relying solely on traditional cookies or first-party data. This strategic approach ensures that your dealership remains competitive and adaptable in an ever-changing digital landscape.
Higher quality, higher close rate
In the automotive industry, the adage “you get what you pay for” holds true when it comes to leads. While quantity may seem appealing, quality leads significantly impact a dealership’s success. Here’s why:
Quality Over Quantity:
Focusing on high-quality leads ensures that your efforts are directed toward potential buyers who are genuinely interested and more likely to convert. These leads have a higher probability of closing a deal.
Quality leads are well-informed, engaged, and aligned with your offerings. They save time and resources compared to chasing a large volume of unqualified leads.
The Listings Partner Advantage:
Choosing the right listings partner is crucial. A reputable partner can fast-track your business by connecting you with targeted, quality leads.
Listings technology platforms provide exposure to modern shoppers who conduct their entire car-buying journey online—from research to purchase.
The Digitization Shift:
Modern shoppers are fully immersed in the digital realm. They explore inventory, compare payment options, evaluate budgets, and engage with competitors—all online.
Listings technology bridges the gap between dealerships and these tech-savvy consumers, ensuring visibility and accessibility.
Positive Impact on Dealerships:
The good news? Approximately 90% of dealers report that online digitization has improved at least one aspect of their business1.
By prioritizing quality leads and leveraging the right listings partner, dealerships can enhance their close rates and overall performance.
12023 Cox Automotive Digitization of Car Buying Study
Get Tactical: Advanced Ads and Beyond
Advanced listings technology has the power to increase your vehicle inventory visibility, increase your dealership footprint and reach more shoppers than ever before. And, thanks to its largely automated process and easy-to-use technology, dealers can take a somewhat passive approach. But for smaller businesses looking to take a more competitive approach, it pays to take control of display advertising with offsite retargeting.
By defining a desired audience and customizing a specific impression investment, dealers can retarget—and potentially move—relevant inventory. This more advanced technology can even track users’ social media and dynamically showcase vehicles to individual shoppers as they browse.
Summary
The automotive industry is undergoing a significant transformation as digital advancements level the playing field for dealerships of all sizes. By embracing new listings technology and adapting to online consumer behaviors, dealers can now compete more effectively on a larger scale. This shift not only benefits customers with improved experiences but also allows dealerships to achieve quicker inventory turnover and better profit margins. Whether an independent startup or an established franchise, success in today’s market is increasingly tied to one’s digital strategy and partnership with listing providers attuned to their specific needs. The future of automotive sales lies in harnessing these technological innovations to drive growth and customer satisfaction across the board.
