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Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I What is Digital Retailing? Online Retailing- Website In-Store Retailing- Using Digital Tool
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The Next Generation Dealership- Managing a Completely Digital Shopping Experience
Don’t Derail the Online to In-Store Handoff
Ali Mendiola
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Next Generation Shopping Experience
DIGITAL RETAILING
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
What is Digital Retailing?
Online Retailing- Website In-Store Retailing- Using Digital Tool
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Both of which are extremely important to the customer.Online Retailing- Website In-Store Retailing- Using Digital Tool
Hand
-off
The Hand-Off
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Intro: Consumers Perception Part 1: Online Retailing
Part 2: The Hand-offPart 3: In-Store Retailing
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
INTRO:
What do customers think of the current process?
What do they expect in the showroom?
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Cox Automotive “It’s About Time” Whitepaper 2014
THE TOP 5 CAR BUYER FRUSTRATIONS ARE ALL ABOUT THE BUYING EXPERIENCE
Cox Automotive “It’s About Time” Whitepaper 2014
9 10Out of
Consumers want an extremely efficient purchase process.*2014 Deloitte Automotive Consumer Study
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
No patience for traditional processAverage acceptable time per dealership phase
2014 Deloitte Automotive Consumer Study
No patience for traditional process
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
In-Store Digital Experiencesare Embraced–and Expected.47%
31%29%
27%
Interactive touch screens to view car information
with pictures and videos.3D virtual vehicle configuration
Virtual test drive stations
Cars in showroom have digital info available(e.g., for display on mobile device)
Tablet for me to use in the showroom to get detailed information, compare vehicles, configure cars, etc.
Ability to transfer data to your mobile device(e.g., vehicle configuration, price offers)
29%
20%
19%
18%
12%16%
18%
Wi-Fi hotspot for your mobile device
Ability to transfer data to your mobile device (e.g., contact details, previous configurations)Digital shopping assistant/avatar helping you
withyour questions
Ability to check-in at dealer location via social media
(e.g., location check-in via Facebook)None of these
47%Prefer interactive touch screens to view car info with pictures and videos.
27%Prefer a tablet to use in the showroom to get detailed info,compare vehicles, configure cars, etc.
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Part 1: Online Retailing
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
VDP of 2006 VDP of 2016
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Move the Consumer through the shopping steps
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Keys to a Sucessful Online Digital Retailing Experience
1. Dealer Control, Accuracy, Consumer Preparation a. Pricing- Does the price used to calculate payments include dealer specific discounts?
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Keys to a Sucessful Online Digital Retailing Experience
1. Dealer Control, Accuracy, Consumer Preparation
b. Trade Offers- Can you stand behind the offer?
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Keys to a Sucessful Online Digital Retailing Experience1. Dealer Control, Accuracy, Consumer Preparation
c. Aftermarket
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Keys to a Sucessful Online Digital Retailing Experience
1. Dealer Control, Accuracy, Consumer Preparation d. The Online to In-Store Handoff
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Part 2Don’t derail the online to in-Store hand-Off
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Easiest Ways not to Derail
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
• Setting up a process for quickly routing and scoring your Digital Retailing leads.
• Knowing what steps the shopper completed online, and prioritizing leads accordingly.
• Removing potential roadblocks ahead of time
• Acknowledging the work your shopper has done online
• Appointment Setters- Being ready with your shopper’s selected vehicle & next steps when they walk in your showroom
Are you derailing in-store? Process
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Are you derailing in-store? Technology• How are sales consultants accessing consumer deal details?
• Which steps did the consumer complete?• Can the consumer and sales consultant review new inventory, adjust payments, send credit
applications from anywhere in the store?
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Automotive News Article ‘ Chevy store redo goes above and beyond’by: Mike Colias- January 26, 2015
McCluskey Chevrolet: 40 iMac computer workstations where salespeople work with customers and process deals.
Use the power of Tablet/iPads in the Showroom
Source: “2013 JD Power.
52%
Vehicles, Payments & Credit App
Higher SSI withIn-Store Tablets*
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Sales consultant uses the tablet to find shopper information for walkups.
The Power of Tablet/iPads in the Showroom
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
The Power of Tablet/iPads in the Showroom
Lead information reflects consumer’s online activity.
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
The Power of Tablet/iPads in the Showroom
Sales consultant review program details, save to lead and start credit application.
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
The Power of Tablet/iPads in the Showroom
Consumer completes credit application.
Which routes into your CRM and Dealership Finance Portal
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
The Power of Connection
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Part 3In-Store Digital Retailing
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
NOW What?
Use the power of Tablet/iPads in the Showroom
Source: “2013 JD Power.
52%
Vehicles, Payments & Credit App
F&I Product / Aftermarket Presentations
Contract Review and Signing
Higher SSI withIn-Store Tablets*
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Audi North Shore increases F&I products-per-deal-sold from less than 0.90 to 1.38
Schmitt also attributes greater sales to customized presentations. First, he pre-loads the iPad with a customer’s vehicle model and color. “The customer loves seeing their car on there,” he said. “I think that improves sales because they get that ownership feel.” Next, he tailors his packages to the specific customer….It’s easy to do and unlike a paper menu, it always looks professional.”
Dealertrack Blog and Automotive NewsFebruary 6, 2014
“Customer Engagement and Customization Pays Off in More F&I Sales – Dealer Profile”
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Audi North Shore Best PracticeUsing Surveys to Understand the Customer
-Survey results allow F&I Managers to highlight and upsell the right products.
- Gives the customer 15 to 20 minutes to view the product presentation,then retrieves the iPad and reviews which products were viewed and for howlong.
-He advances to thesummary screen and uses that as an upsell opportunity to move ‘declined’products into the ‘accepted’ bucket.
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Mercedes-Benz of Coral Gables, Florida“Scott Cooper and his team at Mercedes-Benz of Coral Gables, Florida, have embraced innovative electronic menu technology on an iPad to present aftermarket F&I offerings and “wow” and appeal to today’s tech-savvy consumers.”
Initial Results1) An increase of more than 16 percent in F&I revenue per vehicle retailed (PVR)2) Average aftermarket sale of more than $2,000 3) More than two F&I products sold per contract for the dealership.
Dealertrack BlogJanuary 16, 2014
“Earning More F&I Revenue Per Vehicle with Mobile Technology – Dealer Profile”
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
F&I: Thinking “Outside the Box” Leads toEfficiency and Profitability1. Excited about their new purchase
2. Primed to learn more about your dealership and their car options
3. Let them buy the way they are comfortable
….leads to Improved Wait Time, CSI and Gross.
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Digital Menu Presentations
40
Self Directed Menu Delivers Results
Traditional Menu vs. Electronic Menu
•70%increase in products sold*•64%more F&I profit-per-deal*•$17,000 additional profit-per-month**
**Based on results collected from Dealertrack-subscribing dealers from March 1 – October 31, 2015 comparing deals when eMenu for iPad was used to deals when eMenu for iPad was not used. Your dealership’s results may vary. iPad is a registered trademark of Apple, Inc. **Based on results collected from Dealertrack-subscribing dealers from September 1 – October 31, 2015 comparing deals when eMenu for iPad was used to deals when eMenu for iPad was not used. Your dealership’s results may vary. iPad is a registered trademark of Apple, Inc.
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Other Examples of ways to Keep It Digital: eContracting- Digital Eliminates Paperwork
Ali Mendiola I Dealertrack I Senior Manager BD- Digital Retailing I [email protected]
Managing a Completely Digital Shopping Experience1. Whether online or in-store meet consumer expectations- dealer controlled transparency
2. Empower consumers to start the sales process online
3. Don’t derail the online to in-store hand-offPeople + Process + Technology = Success4. Higher gross profit on Digital Retailing deals vs Non-Digital deals
5. Step into the 21st century with electronic contracting- Eliminates physical paper work
Share an important takeaway you received from this session using hashtag #DD20for a chance to win an iPad
Contact InfoFull Name: Ali Mendiola
Company: Dealertrack Technologies
Job Title: Senior Manager Business Development, Digital Retailing
Email: [email protected]