In the mad dash to perfect digital retailing in automotive, many dealers are skipping a few (hundred) fundamental steps. Instead of diving head first into the deep end of an Amazon-esque purchasing model, why don’t we make small improvements to your existing process?
To be frank, most dealers are not anywhere CLOSE to ready for true digital retailing. Spoiler alert, neither are customers. Studies reflect that only a very small percentage of customers would prefer to buy the car entirely online. Most of us still require a little hand-holding, exploration of options, and encouragement that we are making the right decision.
Car dealership sales teams have a tendency to balk at new technology, whether it is useful or not, when they do not understand the value, or when it is not easy to implement into their existing road-to-the-sale. We are all creatures of habit. Unfortunately, most car dealers have yet to master the traditional methods of moving metal and forcing big, jarring advancements only confuses the team and frustrates the customers. Long story short? We need to take baby steps towards a more frictionless sales process.
Step 1: Implement a digital price and payment presentation.
Paper is old school. Almost everyone has a smart phone and/or tablet. We know how to tap, pinch, swipe, and scroll to find what we need – it’s a familiar space for most of your customers to engage with information. There is also something subliminally comforting when something is on-screen.
After all, “if its on the internet it must be true!”
That sounds ridiculous but there is evidence to suggest that financial information presented digitally is perceived as more correct/honest/accurate. By ditching the outdated paper worksheet and moving to a digital presentation of numbers, you instantly position your dealership as more modern and in-touch with customers in 2019 (soon to be 2020.) Bonus: The hippies will like it because you are saving trees.
Choosing a digital worksheet to present lease, loan, and price information to your customers is a smart and easy “baby step” towards modernizing your showroom and customer experience. If you choose the right tool to power your digital worksheet, you also benefit from the capability to adjust/edit the numbers digitally. No more running back and forth to the desk – CUSTOMERS HATE THAT.
As more and more dealers are moving towards negotiation-free pricing models, it is vitally important that we don’t lose the opportunity to up-sell. Long live F&I! A digital worksheet payment presentation is a brilliant way to introduce extended warranty and maintenance plan options, as well as a host of other aftermarket offerings, in a way that is non-obtrusive. Clicking “yes” on a screen provides customers the autonomy to make a smart decision without feeling as if they’ve been bamboozled by a slick talking finance guy.
Basically, if you are looking to modernize your dealership’s sales process, a great first step is to digitize the payment presentation worksheet. If you would like to learn more about how to implement a digital worksheet in your dealership, we are happy to help.