Transparency, Trust, Timeliness – Digital Retail 2.0

January 1, 2018

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 transaction.

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 structuring
  • 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 http://dealersocket.com/precise-price.