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What ways could dealers be more transparent, IDEAS anyone?

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#41
Not implying anything, but... beware life outside your moat, everyday it's planning on a new way to eat you alive.

"Our customers love of our 8 thousand stores and our selection. I see no investment scenario, past, present or future that justifies NetFlix's investment thesis."
-Blockbuster's board passes on Netflix's 49% offer.
 
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Dominion DMS
#42
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#44
@ Joe - And my grandmother is in orbit around Mars.

@ Jeff - All we have to do is pay for all of these specialists at a time when there is extreme margin compression WHICH is what prevents us from keeping talent, WHICH is part and parcel to why most car buyers are meeting the sales person for the first time, WHICH a MAJOR reason for all the rampant consumer dissatisfaction, some real, much manufactured by vendors trying to convince us we should employ them to help increase the level of trust in auto retail as if dealers would somehow benefit from that. A better idea would be to learn to do a better job of winning over car buyers one at a time. But, of course, that's old school. Yes, I know there are a couple of guys out their who say we'd be selling 20 million SAAR or so if only we could eliminate friction in auto retail. The most respected auto analyst I know to that said, "What utter BS."
 
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Dominion DMS
#46
Ed Brooks said:
I don't see dealers talking about transparency with customers. Not in their advertising, not their conversations. But I do see dealers being more open and honest with customers winning in the marketplace.
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This is a great point.
We should survey used vehicle customers 30 days after the deal and instead of asking them about CSI we should ask how they feel about the price they paid for the vehicle. Sure, it will have all sorts of bias in there and influence from other's opinions, but I would still love to see the data. I think many customers leave the dealership trusting the dealer and believing that they received all the information they needed to adequately negotiate and complete a deal. I could absolutely be wrong.


*off-topic*

JoePistell said:
"Our customers love of our 8 thousand stores and our selection. I see no investment scenario, past, present or future that justifies NetFlix's investment thesis."
-Blockbuster's board passes on Netflix's 49% offer.
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@JoePistell Where did you get this quote? I remember the other famous quote where Blockbuster CEO stated that he believed Apple was a bigger threat (and he may be right in a few years), but I've never seen that one (nor can I find it anywhere online).

“Neither RedBox nor Netflix are even on the radar screen in terms of competition,”[Blockbuster CEO] said. “It’s more Wal-Mart and Apple.”
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The sad part about this is that Netflix reported early 2015 that they don't expect to be profitable until 2017, a feat that they have still not managed to accomplish, even though they've disrupted an industry, toppled some giants (who were already tripping and falling) and continued to grow their business model and international presence.
 
#47
craigh said:
This is a great point.
We should survey used vehicle customers 30 days after the deal and instead of asking them about CSI we should ask how they feel about the price they paid for the vehicle. Sure, it will have all sorts of bias in there and influence from other's opinions, but I would still love to see the data. I think many customers leave the dealership trusting the dealer and believing that they received all the information they needed to adequately negotiate and complete a deal. I could absolutely be wrong.
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I love the idea of sending a survey out to used car buyers. That's pretty easy to accomplish with an automated CRM email template and SurveyMonkey. The only downside to the responses is that damn buyer's remorse factor.
 
#48
Alex Snyder said:
I love the idea of sending a survey out to used car buyers. That's pretty easy to accomplish with an automated CRM email template and SurveyMonkey. The only downside to the responses is that damn buyer's remorse factor.
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Exactly - that bias will always be there.
I always talk to my friends after they buy a new car and one of the things they always say is "So and so said I could have got it much cheaper, but I'm happy about blah blah blah". I think people have a tendency to keep watching the market after they buy a car (I've seen this in our website's recurring visitor tool on leads that we know converted to sales) and the buyer's remorse is inevitable.
 
#49
craigh said:
I think people have a tendency to keep watching the market after they buy a car (I've seen this in our website's recurring visitor tool on leads that we know converted to sales) and the buyer's remorse is inevitable.
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I do this myself. On every researched purchase I find a community or forum that helps me make a better buying decision and also assists through the first few weeks/months/years of ownership. Unfortunately, after buying, I'm extremely attracted to those "I'm going to buy...." threads where my recent experience can help. And those are the places where I see things I didn't get on my deal.
 


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