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Digital Retailing for Dealers - What are your results?

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#72
The Credit-Last DR solutions have pivoted to blaming dealers' processes for their solutions not producing.

Most every dealer is different and DR solutions should adapt to how a dealer wants to do business.

We have dealers who just want the deal structure pushed into their CRM (although most CRMs are limited as to the amount of deal structure that can be pushed) to submitting the deal structure into DealerTrack/RT1.

For example, where would you want this type of Credit-First lead to go?

Super Lead Sample - Shop-by-Payment

shopbypayment.com

Most dealers don't want us quoting F&I products, although since virtually nobody is purchasing these products online, it doesn't really matter at this point.

And with the rampant Webrooming going on, I'm working on a seminar to teach dealers how to sell vs other dealers who are using Credit-Last DR solutions. This is an easy one.
 
#73
Tarry Shebesta said:
Most dealers don't want us quoting F&I products, although since virtually nobody is purchasing these products online, it doesn't really matter at this point.
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Since most of the deals still happen at the dealership even after using a Digital Retailing service, one would think it would still be a good idea to at least offer Products in the process, potentially making it easier to sell in person.
 
#74
Rick Buffkin said:
I'm curious if everyone still has the same opinion about Digital Retailing since the bulk of the comments on this thread was written 6 - 7 months ago and now.

I think it's a good time to fire this thread back up.
Click to expand...

I've been curious to the same. I promoted this question on our FB page...

Digital Retailing for Dealers - What have been your results during the pandemic? How many more customers are going through the whole process online?
 
#75
Jeff Kershner said:
Since most of the deals still happen at the dealership even after using a Digital Retailing service, one would think it would still be a good idea to at least offer Products in the process, potentially making it easier to sell in person.
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Most of our dealers are interested in interjecting the information about the available products and what they do, but not actually offering them in the DR checkout with pricing/payments.
 
#76
Jeff Kershner said:
I've been curious to the same. I promoted this question on our FB page...

Digital Retailing for Dealers - What have been your results during the pandemic? How many more customers are going through the whole process online?
Click to expand...

Between 4-5x as many customers went through the process online in May compared to April. We had a tool change at the same time. June has been similar to May, so far.

How much do I attribute to the new tool vs changing customer behavior? Who knows.

All I know is that we have a TON of customers using our DR tool every day, and that wasn’t the case in the before times.
 
#77
Jeff Kershner said:
Most dealers don't want us quoting F&I products, although since virtually nobody is purchasing these products online, it doesn't really matter at this point.
Click to expand...

Yes -- but it is about the "soft sell". If you expose the customer to the product earlier in the process, with information that can help the decision, you are more likely to close them at the dealership.

Just my opinion right now, don't have any hard stats.
 
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#78
Rob said:
Between 4-5x as many customers went through the process online in May compared to April. We had a tool change at the same time. June has been similar to May, so far.

How much do I attribute to the new tool vs changing customer behavior? Who knows.

All I know is that we have a TON of customers using our DR tool every day, and that wasn’t the case in the before times.
Click to expand...

I'm sure a different tool made some difference but did you also change your CTA's on the CRP/VDP? I see you now have a large green button with "Buy From Home." Did you change this or was it the same with the previous Digital Retailing solution?

Any additional advertising around this new service? So many variables could sway this.
 
#80
I think it is time to begin pointing out the FUNCTIONAL differences between the tools out there. Every digital retailing tool does things a bit differently. And maybe this is best for another thread - you all tell me if that makes sense?

Some are chat focused. Others are 1,2,3 steps focused. One is credit first. Some use a combination of AIS and Chrome as their data sources. Some use MarketScan. Another does its calculations through Offerlogix plus some outside tax calculator. There are plenty of tools that neither calculate taxes & fees nor attempt to calculate a lease. Most only show a captive lender.

When it comes to calculations, this is where we separate the kiddie toys from the pros. Pro toys can be used on websites and in showrooms.

  1. If you are a new car dealer not showing accurate lease payments, you have your head in the sand about leases and all the benefits it offers.
  2. Taxes and fees/Out the door numbers are what the customer wants. There is plenty of technology that can do it now. The excuse of having to do this for every customer with some sort of dealership employee handling it is long gone.
  3. AIS and Chrome do not standardize their data nicely. It is up to the digital retailing tool to know a Sunroof and a Moonroof are the same things for example. Or to know you can't stack lease and loan rebates (I'm looking at you Dealer.com).
  4. Lastly, dealers who are still only looking at the captive for the first pass are missing out. Ally and US Bank, for example, update their rates throughout the month. They compete! And they routinely DESTROY OEM banks. If you base your specials off of the beginning of the month rates, you're missing out on some HUGE opportunities.
 


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