According to a LinkedIn study, sales teams who received 3 hours of coaching per month had a 17% higher closing rate than teams who received only 2 hours.
The automotive market will continue along its 2018 pace in the coming year according to many analysts in the industry. Used vehicle sales show potential for significant growth as average transaction prices continue to rise.
Some analysts remain wary and project a potential “flattening” in the market, but this in itself is good news in a sense.
Negotiation time and the time to complete purchase remains the number one complaint of car shoppers.
According to a recent study that polled recent car buyers, the amount of time it takes to complete a car purchase continues to grind customers' gears.
Black Friday. Typically regarded as the first day of the Christmas shopping season, stores offer special prices and deals that result in a mad dash of frenzied shoppers the day after Thanksgiving. Some people dread the crowds and traffic, but almost a third of Americans in 2017 braved the mob to shop for Christmas gifts for loved ones or find sweet deals.
When I talk to car dealers about their digital marketing strategy, a lot of times I hear something along the lines of, “We’ve gotten along just fine doing radio spots, TV ads and direct mail, why do we need digital marketing now?”
They do make a good point. What they’ve been doing was good enough in the past, so it should still be enough… right?
Amazon, Spotify, Lyft, Purple, Dollar Shave Club. You have heard of all these companies and chances are you use at least one of them on a regular basis.
All these products made a major splash when they debuted in the marketplace and many of them have grown into multi-million, or even billion-dollar companies. So, why are all these products so successful?
When you stop to think about it, are they really offering anything new?
So, you’ve decided you want to step up your digital marketing game and bring in some outside help to reach more customers and sell more cars. You’ve seen ads for, and received dozens of emails from companies that claim they can help you do just that, so how do you choose one?
Despite a rocky year with questions in how it handles its data and customer privacy, the Social Media giant is still king and won’t be giving up the crown anytime soon.
A shopper comes into your dealership. They ask one of your sales people the price on a model, the salesperson gives it to them they turn around and walk out the door. Sound familiar?
The thing is, it’s really not the salesperson’s fault. With the world getting smaller and smaller and consumers having more options, car shoppers are visiting fewer dealerships and instead spending most of the buying process online. The convenience this offers them has caused shoppers to want to spend less time talking to sales people and immediately push for the end-game: what is the price?
“If you know the enemy and know yourself, you need not fear the result of a hundred battles."
-Sun Tzu’s Art of War
Other dealerships in your area may not be your enemies and you’re not exactly at war with them. However, we can all agree that they are your competitors meaning there is a competition, and in every competition, there is a winner and a loser.