Unless They Want To Stay In Business.
For decades the automotive industry has relied on lead gen which is geared towards persuading car buyers to visit a dealership’s physical showroom. The rise of Carvana (NYSE: CVNA), Vroom (Nasdaq: VRM), and other online-only retailers is increasingly challenging the traditional sales model.
Tesla (NYSE: TSLA) and other electric vehicle upstarts prove beyond a doubt that new car buyers are comfortable with an end-to-end online purchase and financing process. Traditional brands are shifting their product portfolio towards EV, yet, they do not offer a comparable online buying experience through their franchise system.
What brick & mortar dealerships should realize is that they can create a superior customer experience. Setting up an online store – not merely a digital retailing widget – allows franchise (and independent) dealers to extend their showrooms virtually. Customers can explore their next car purchase from the comfort and safety of their own homes and, when they’re ready, seamlessly complete the process at the dealership. Modern retailing combines the best of both worlds by delivering a consistent experience between a dealership’s online store and its in-store processes.
Car buyers want to complete more of the purchase online but not necessarily the entire transaction. Giving customers the ability to explore their purchases online drives engagement, transparency, and trust. Satisfied customers are more profitable and loyal to the dealership of their choice.
Digital Motors empowers automotive dealerships with a state-of-the-art online sales platform that can be configured to their individual needs, business rules, and branding. Dealerships powered by Digital Motors see higher user engagement, more profitable deals, and better CSI scores. Real-time updates enable dealers to complete online transactions in 45 minutes or less.
By Andy Hinrichs, CEO Digital Motors
February 2021
