Automotive Management (AM) Live served up a packed agenda of seminars and presentations in three theatres focussing on key aspects of the car retail business.
In this second round-up of supplier presentations fom the event, AM serves up online customer engagement knowhow from CarGurus, Keyloop, Marketing Delivery, Facebook and Waze.
Click on the links below to view the full presentation videos.
Automotive Management Live returns to the NEC, in Birmingham, on November 10.
Combat disloyal customers
Only half of people who used public transport or ride-sharing before the COVID pandemic are planning to do so again, according to CarGurus’ research.
However, they still want to travel and have the income – thanks to lockdown lifestyle restrictions – to afford a car.
“It’s a great opportunity,” said Dan Delderfield, national account manager, CarGurus, in the presentation ‘How to gain market share in an increasingly dynamic online marketplace’.
“The pandemic has created an environment where a shortage of stock has meant higher prices, but customers are prepared to pay them.
“But how appropriate are the services you offer to meeting this demand? What do you do if you don’t have the car a customer wants, what questions is your contact centre asking?”
CarGurus suggests consumers are less brand loyal because of stock shortages.
National account director, Nathan Quayle, said retailers must “be consultative with the customers who are brand open”.
Replace delays with digital engagement
More than two-thirds (68%) of car buyers visit online review sites, 65% OEM websites and 58% dealer websites when researching their next purchase, Keyloop found.
Key to engaging visitors is the availability of vehicle data and an “easy/intuitive shopping experience”, Keyloop chief executive Tom Kilroy said in his ‘Digitalisation – what car buyers and owners really want’ presentation, which was based on a survey of 100 in-market buyers.
The further a customer can get through the purchase process, the more likely they are to buy a vehicle, he said, adding: “However, when buyers are in a dealership, their top priorities are competitive price, staff knowledge, and the reputation of the dealership.”
In aftersales, 80% of customers want to use digital tools such as service booking. About half would use a secure key locker to drop-off keys.
“Ask yourself how long a customer is left waiting for you in different departments in your dealerships. It’s a lot. If you engage with them virtually how many more customers would you attract?”
Retailers must determine 'optimal route to help customers buy'
Pressures in the marketplace risk motor retailers falling into bad habits, according to CitNOW group chief revenue officer Alistair Horsburgh.
He said retailers must determine the “optimal route to help customers to buy” as he advised AM Management Live visitors in his ‘Defining the ultimate customer journey’ presentation.
“Make sure the customer is comfortable to buy in the environment you offer; increase customer trust; give accurate part-exchange appraisals and maintain customer loyalty,” he said.
CitNOW’s advice was drawn from four years of annual car buyer surveys.
Half of respondents said they wanted in-person interaction, but Horsburgh said it was vital to “give them a choice how they want to communicate”, with 72% of under45s stating they would buy a car if they saw a video of it first.
One salesman was converting 75% of customers into sales with 15-minute video presentations, Horsburgh said.
Post-pandemic Consumer Behaviour is More Important Than Ever
Marketing Delivery managing director Jeremy Evans stressed that the pre-enquiry stage is “more important than ever” for car retailers in his ‘How the pandemic has changed consumer behaviour for good’ presentation.
Evans, who was joined by Facebook’s head of automotive, Anita Fox, said: “If you can’t get your name in front of a customer while they’re in that pre-enquiry phase, and if you can’t deal with them quickly and effectively, you might find that the customer is ready to transact and you’re not.”
Engaging audiences via videos, stock buttons and website links on Facebook is a good way of reaching customers on a platform they already a lot of time on and trust, Evans said, adding: “They don’t necessarily want to go to your website at the first opportunity.”
Tap into a captive Audience
A network of volunteers, users and partners is helping to save the planet, reduce stress, improve the economy while providing car retailers with a new marketing opportunity, according to Waze.
Ruairidh Roberts, country manager for the free navigation app, told delegates at AM Management Live how the platform is based on its global community of more than 140 million users, plus partnerships with more than 2,000 cities and transport authorities.
Its revenue comes from advertisers, with businesses able to highlight timely information to users in their proximity.
“The impact of COVID and lockdowns has meant a dramatic turning away from public transport and growing trust in private cars,” Roberts said.
“It provides a captive audience, the perfect opportunity to talk to drivers at exactly the right moment in their day.”
A Forrester Consulting audit of Waze showed a 70:1 return on ad spend generated by an 8% increase in footfall.