Research shows that car buyers who use digital retail to complete part of the purchase process online are the most satisfied with their shopping experience. However, many dealers are woefully unprepared to navigate the current landscape of e-commerce. As innovation progresses and new consumer habits emerge, these retailers run the risk of losing their customers to more tech-savvy competitors.
On this episode of Driving Solutions, host Jim Fitzpatrick is joined by Greta Crowley, vice president of retail and marketing at Cox Automotive. Crowley is a digital strategist and automotive marketing expert who has spent her career driving success for companies through the careful application of technology, data and planning. Having seen the rise of digital retail in the car industry firsthand, she knows how difficult it can be for dealers to integrate e-commerce solutions into their businesses. Now, she joins the show to discuss the actions retailers should take to prepare for a technologically advanced future.
1. Customers who utilize digital retail to purchase their vehicles not only feel they were given a better deal by their retailer but also have a more positive outlook on their time spent at the dealership.
2. Most dealerships use some form of digital retail, such as social media accounts and websites, but there is still a gap between what consumers expect and what many retailers can give.
3. To overcome the gap, dealerships should start by personalizing their marketing to each individual customer.
4. Roughly 87% of dealers who adopt some form of digital retail see tangible improvements in their earnings and operations.
5. Dealers should prioritize accuracy and consistency in the digital retail tools they choose.
"Most dealerships have an online presence, but most dealers are not primarily selling fully online or using e-commerce in a big way right now." — Greta Crowley