Tuesday, April 20, 2021

Dealer Advantage: How to offer flexibility to car shoppers & maximize profits

In this episode of the ‘Dealer Advantage’ series, Lori Wittman, SVP Dealer Software Solutions, Cox Automotive and Kevin Frye, Marketing Director for Jeff Wyler Automotive Family, discuss what dealers are doing to successfully implement digital platforms and create the optimal car buying experience.

Frye opens with a background on Wyler Automotive Family. The dealership group is based in Cincinnati, OH with 15 rooftops across Ohio, Kentucky, and Indiana. Wyler is one of the nation’s top 50 dealership groups, and it takes pride in being an innovator in the industry regarding digital retailing integration.

Frye discusses the importance of flexibility when it comes to digital retailing adoption. This new method of conducting business gave dealers the flexibility needed to meet customer needs without them visiting the showroom. In 2020, Wyler had record digital retailing engagement, leads, and sales, despite it only being less than 15% of total sales.

Wittman then asks Frye about the tools Wyler used to find success in digital retailing. Frye says that the company truly believes in the power of integration, leading them to use many of the products offered by Cox Automotive including Dealer.com, VinSolutions, vAuto, HomeNet, and more. Frye says that one login allowed Wyler to increase usage of the retailing tools dramatically. The singular platform of Cox Automotive solutions allowed Wyler to improve daily operations as well as its customer engagement process. 

Despite setting records in digital retailing engagement, Frye said that the dealership group found that many consumers still wanted to physically visit the dealership to complete transactions. During the pandemic, Ohio was able to keep showrooms open while Kentucky had to keep its stores closed to the public. Wyler began to see car shoppers from the Bluegrass State cross state lines to physically see vehicles before making a purchase. While many consumers want a more advanced digital car-buying experience, 90% of consumers still want to complete the transaction at the dealership.

Frye concludes the conversation by discussing the biggest benefit of digital retailing tools working together. Frye says that Wyler is seeing a 22% higher gross per unit of digital deals compared to other sources. Frye believes this is due to most consumers not asking for a lower price on digital transactions because they see it as a luxury to buy cars online.

For more information on digital retailing solutions from Cox Automotive, visit coxautoinc.com.


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