Transparency, Trust, Timeliness — Digital Retail 2.0

Digital Retail

Thanks to the internet, fewer consumers rely on a salesperson to make an informed
vehicle purchase. Today, many consumers have a specific vehicle in mind and have
already estimated the cost before ever entering the dealership. According to
DealerSocket’s 2016 Market Action Guide, customers perform online research five to
seven months ahead of the purchase, including through both dealership websites
and review sites.

While the consumer has adopted many tools that make shopping more efficient and
convenient, there still exists the often painful and time-consuming step of sitting at
the salesperson’s desk to finalize the deal.

Even after using some digital retail tools, the consumer can still expect to purchase a
vehicle through a dealership by walking in, specifying the vehicle, sitting at the desk,
negotiating, and signing the contract. This agonizing process can take hours, and the
majority of dealers have done little to change or improve the customer experience.

Digital is changing the way buyers interact with dealerships. Some may still require
more guidance during the sales process, yet an increasing number would be more
than happy to purchase a vehicle entirely online. Dealerships must offer the choice
to every customer and offer a better, customized user experience (UX).

The right digital retail platform rooted in the transparent delivery of comprehensive
pricing information can prep the consumer with real costs, improve trust in the
dealership, and significantly cut desking time.

Adopting the Right Tool for the Job
Many digital retail tools that exist today lack the fundamental components needed
to improve transparency and streamline desking: total price accuracy, flexibility,
and CRM integration.

DealerSocket’s digital retail tool, Precise Price, offers these benefits and more to
finally close the gap between the online and in-store experiences and bring the
whole purchasing picture into perspective for customers who want a transparent

This technology makes the desking experience more efficient and profitable. With
Precise Price, dealers can:

 Market and brand their store’s specific pricing model

 Set the value of trade-ins and accurately price inventory

 Automatically receiving customer information, preferences, and cost

structure (not just glorified leads) via integration with the store’s CRM

 Improve the desking process by aligning customer and dealer expectations

 Help win the sale by providing current incentive offers online during price


 Deter customers from shopping around a pool of competitive data and

pricing like some third-party apps

For the customer, the benefits are also evident. Customers can:

 Structure an accurate deal online, including the dealership’s exact taxes, fees,

add-ons and incentives

 Easily understand “added” or “hidden” costs — no surprises

 Take advantage of quicker negotiation times at the store by automatically

teeing up deal structure at the dealership via CRM integration

 Navigate a unique web experience that conforms to the layout and branding

of the dealership website

 Enjoy a seamless and simple online-to- store user experience

Only Precise Price offers a transparent, customized, integrated, and mutually
beneficial digital retail experience. Customers can experience a digital-to- store
experience with renewed confidence and trust, while dealers enjoy less time
collecting customer information, reviewing pricing, and spending more time
meeting with more customers.

To learn more about Precise Price, DealerSocket’s fully integrated digital retailing
tool, visit