With purchase processes rapidly changing, dealers are looking for easy yet effective ways to streamline and close sales. Car buyers simply aren’t going the traditional route anymore as they purchase, partly due to the pandemic. On today’s show, we’re pleased to welcome Andy Moss, CEO and Founder of Roadster and we’re also joined by Michelle Denogean, Roadster’s Chief Marketing Officer.
When it comes to the recent surge in digital retailing adoption, Andy says, “It’s amazing how quickly things change. We’ve seen a 3 to 5-year acceleration in the industry in 3 to 5 months. The thing that has been most amazing to see is the resilience of the industry and how quickly people adapt.”
Now that the dealerships are back open, there might be a slight pullback in digital retailing. However, Michelle believes that a successful program has less to do with what technology the dealer has. How the dealer uses their technology is the key factor. Dealers need to interact and engage with the customer digitally. It’s not enough to simply bring them to the website.
Originally a direct to consumer company, Roadster also helps dealers replicate a buying and delivery experience akin to a company like Carvana. In fact, 90% of dealers will deliver vehicles right to the customers’ homes. Consumer behavior surveys show that online transactions are what consumers desire.
Michelle explains, “What’s interesting about this time period with COVID is that it wasn’t really an acceleration of consumer desire. It was an acceleration of dealer adoption, and so much of that has to do with time.”
The number one dissatisfaction ranker among consumers is the 3-5 hours spent at the dealership purchasing a car. Digital retailing saves dealers and consumers time. This technology also allows the dealership to be flexible.
The potential for decreased gross profits is often what makes dealers hesitant to adopt digital retailing. In partnership with the National Association of Automobile Dealers, Roadster conducted the Digital Retailing Profit & Efficiency Gains COVID-19 Impact Study. They wanted to find out if dealers could truly be more profitable with fewer resources due to the pandemic. Turns out, they can, thanks to the transparency and time saving that digital retailing offers.
Andy Moss has over 20 years of experience creating successful eCommerce companies and platforms. Before launching Roadster in 2013, he created several lucrative digital retailers including FabKids, ShopStyle, and Cairo.
Prior to her role as Roadster’s Chief Marketing Officer, Michelle was CMO at Edmunds where she set brand standards and marketing initiatives for B2C and B2B audiences. She has also held executive marketing roles at eHarmony and Move.com.
Did you enjoy this interview with Roadster’s Andy Moss and Michelle Denogean? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at email@example.com.
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