Optimism is rising in retail automotive. Today on CBT News, Kevin LeSage dives into a discussion with host Jim Fitzpatrick on how car dealerships can continue to get ahead in the second quarter with a strong understanding of digital retailing tools and a successful digital marketing strategy. LeSage is the Director of Digital Marketing of Autotrader US.
LeSage begins the conversation by discussing how car dealers can identify real customers. There are many methods of identifying ready-to-buy customers. Car dealers must be able to pick out signals that customers show that put them in the market to buy. LeSage says that car dealers need to leverage tools to make sure they are marketing to customers in the market for a new vehicle.
LeSage says that one of the primary focuses he has for car dealers right now is to not discount inventory more than needed. With new-vehicle inventory so low, car dealers must be focused on holding on to gross profits. It is currently very hard to replace vehicles, so it’s important for car dealers to get the most out of every vehicle transaction.
LeSage then discusses two specific digital retailing tools offered for no cost in the AutoTrader analytics dashboard. The first is called “the vehicle engage score”. This tool tells car dealers the likelihood of a vehicle selling based on customer activity. The other new product is called “analyze live”. This product shows a live feed of vehicles of interest. Car dealers have utilized this tool to put vehicles of interest on TVs in the dealership. This helps salespeople hold the price of the vehicle during negotiations with potential buyers.
LeSage ends the conversation by discussing how digital retaining has created trust for car dealers. Digital retailing has created a personal buying experience in which dealers can help customers find vehicles that meet their needs and their budget.
