Join the Digital Retail Age – DealerSocket Blog

April 25, 2017

It’s Time to Join the Digital Retail Age

Advances in mobile technology have moved our industry miles forward. Efficiency, transparency, and the in-store experience have evolved for the consumer. The dealer must enhance his or her digital processes to deliver the showroom experience online.

Digital retail — a phrase you’re likely familiar with — is the next step into this online foray. Face it — your buyers live in the age of Amazon. They can research, compare, and purchase practically anything with just a few mouse clicks. Not surprisingly, DealerSocket’s 2016 Dealership Action Report showed that a whopping 81 percent of consumers don’t enjoy today’s car buying process. Is your store ready to meet the demand?

Here are five key components that should be part of your online experience:

  • Extensive vehicle details — Go beyond year, make, model, and mileage. If a buyer is deciding on a vehicle sight unseen, give him or her a comprehensive breakdown: details of physical imperfections, photos of the actual vehicle, and more.
  • Trade-in value — Integrated tools can help your buyer calculate the value of his or her trade-in. It’s key for anyone who plans to use a trade-in. Provide a trade-in offer online to entice the consumer into pulling the trigger.
  • Pricing — Vastly improve the odds of closing the deal by providing the final price online. According to our data, 57 percent of consumers want to receive your best price up front rather than having to negotiate.
  • Financing and payment — If you really want your website to work, you must provide a tool that allows the consumer to submit his or her credit score from inside the process. Staying connected is integral.
  • Aftermarket products — Prospects don’t need the hard sell to say yes to F&I products. The more we see dealers present F&I products online, the more we see consumers purchase. Explain the benefits of each selection on your website and take away the feeling of pressure.

Upgrade your software now so your prospects can conduct as much of the transaction online as they like. Full integration between your website, CRM, and desking platforms makes digital retail go. It saves you and the customer time by saving and teeing up the details of the deal before he or she steps on the lot. If your buyer must repeat information they’ve already given online, it defeats the purpose by throwing out all transparency and convenience you’ve built to that point.

Download the full version of The Time Is Now to Join the Digital Retail Age now.

For more information about Precise Price integrated digital retail by DealerSocket, visit http://dealersocket.com/precise-price.