Art or Science? How to Sell More Cars
The right marketing program drives buyers to your store, and the right technology solutions help your sales team close deals.
As we approach 2024, you might be looking to either build on your growth or rework your strategy for the upcoming year. Regardless of where you find your dealership as we close 2023, there are some vital tips and practices you can leverage for your marketing efforts that aim to drive sales through relationship-building and unique experiences.
By combining the art of selling cars (the what to do) and the science of selling cars (the how to do it), you will easily find the recipe for your success.
The Art: Building Customer Loyalty
We’ve written many times about how critical building a customized journey for each buyer is for a successful sales process. And we’ve also said before that data should be used extensively to supplement the entire customer journey.
This all points to the fact that as a dealer in today’s extremely complex marketplace, it’s necessary to communicate with buyers on their terms. If a potential customer emails you, provide them with a personalized email as soon as possible. If they text you, text them back. If they call you, call them back. It’s rarely a secret how they prefer to interact.
When returning answers to these customer questions, make sure you are providing the exact information the customer asked for without becoming an overbearing old-school salesperson. Deliver pertinent messages to these hot leads with everything they need to take the next step in their decision-making process organically. Appointment-setting will develop naturally, and it’s up to your trained staff to uncover how and when to ask each shopper for an appointment.
Consistently nurturing customer loyalty and fostering strong relationships puts your dealership in a position for long-term success heading into a new year full of endless possibilities.
The Science: How to Sell More Cars
Given the success seen in brick-and-mortar dealerships that embrace digital services – along with a handful of successful online-only retailers in today’s market – there is plenty of evidence supporting the effectiveness of employing digital customer data to personalize every interaction your dealership has with its broad range of customers.
Successful dealers are leveraging all the information they have compiled about each customer through their CRM and DMS tools, online platforms and connected third-party applications. This information can range from customer preferences like make, model, features or even their preferences on leasing versus buying, plus their current vehicle history, credit scores, banking information and so much more.
When done right, this research is used to offer a hyper-personalized approach to communicating and working with each customer.
Know Your Audience
Understanding your customer base is a pivotal aspect of selling anything, especially something with the price tag of today’s vehicles.
At the core of connecting with this group lies a robust knowledge of the people who shop and service at your dealership. Proactive dealerships are tapping into the wealth of data already at their fingertips to find clear answers and highly suggestive clues ranging from basic customer preferences to building complex financial profiles.
This comprehensive information is sourced from places like CRM and DMS tools, online platforms and third-party applications which are already deeply integrated into the day-to-day of most auto dealerships.
Capitalizing on this data successfully means providing a hyper-personalized approach to every customer interaction that proves you know your audience. Whether it’s tailoring various communications or offering special vehicle options that align with their preferences, harnessing this knowledge means your dealership can stand out in a chaotic marketplace, making it easier to close deals and retain buyers long-term.
The Right Marketing
Heading into 2024, it’s more important than ever that dealers proactively engage buyers before they return to market to retain and protect their audience.
According to S&P Global Mobility, nearly 6 in 10 nomad shoppers, or buyers who have purchased once from a dealership, are expected to switch brands
Dealers equipped with proactive strategies can prevent the defection of their customers by leveraging insights from dealership marketing tools to understand why these customers specifically would need to switch brands. By focusing on areas like post-sales service visits and exclusive previews of new models that fit these customers’ needs, dealers can work to retain these nomadic shoppers.
Regardless of the type of customers, in the modern marketplace, every communication with your customers should feel tailored to their needs. It should be delivered promptly as well and designed to instigate positive action.
It’s also crucial to ensure that all your digital touchpoints work seamlessly together during the shopping process. Automotive marketers need a well-rounded, omnichannel marketing strategy that extends well beyond showcasing online inventory and asking for clicks. An active approach allows dealers to effectively connect with and influence potential buyers no matter how they’re shopping.
Regardless of the details, every customer experience must be the right customer experience for whoever is shopping.
Benefits of the Right Customer Experience
Delivering the right customer experience can yield tremendous benefits for automotive dealerships looking to improve their long-term bottom line. Here are some key advantages of customizing each interaction:
Increased Loyalty and Retention
Loyalty customers are invaluable as a constant stream of high-ROI sales because they are less likely to negotiate, more likely to generate service and other fixed-ops revenues, and frequently contribute to referral business
Conquest New Business
Satisfied customers play a pivotal role in pursuing new buyers across the market. They organically attract and win over nomadic and other defecting customers from your competition, creating more positive referrals and glowing reviews to expand your dealership’s customer base.
Better Customer Relationships
Personalizing information to fit every customer’s exact needs in the way they want to receive it means that – no matter how critical or innocuous the communication – your customers will feel important and heard.
Increased Appointments and Close Rates
When customers feel heard and respected throughout their buying journey, they are not only more likely to honor their scheduled appointments but also more inclined to make car purchases from your dealership – and service their vehicles long-term.
Increased Profits
Loyal customers provide a consistent stream of high-ROI sales opportunities by saying yes to higher sale price points, regularly contributing to service and fixed-ops revenues, and serving as valuable sources of referral business in the community.
Improved CSI Scores
Consistently delivering tailored interactions and meeting customer needs as they come up helps dealerships position themselves to achieve high CSI scores. In turn, this attracts even more customers seeking quality service and satisfaction.
How Can Mastermind Help?
Mastermind’s tools empower your team to leverage predictive data to connect with your customers and sell more cars effectively. These innovative solutions dive deep into buyer behaviors, stated preferences, and other critical information, providing you with invaluable, actionable insights that are tailored to each customer.
Mastermind provides dealers with actionable insights and personalized selling points tailored to your customers. By harnessing this wealth of data, your sales team will gain a significant advantage in understanding and addressing the specific needs of your customers, leading to more sales, improved CSIs and increased profitability.
Ready to equip your team with the tools and insights they need to succeed in 2024 and beyond? Contact us for a free demo.