![]() ![]() Not only is it available, it’s also cost effective and very easy to use. The technology that other retail sectors use to allow consumers to spin the images and get 360 degree product presentations is available right now for YOUR inventory. Online transparency in your vehicle merchandizing is more important now than ever before. What do you think is going to increase their interest in your vehicle? The ability to see its actual condition! Or, even better, the fact that there aren’t any. ![]() The broken images don’t let them see that little dent, scratch or other imperfection. Photos and video are great, but they don’t give consumers the ability to virtually walkaround the vehicle in a continuous motion as if they were on the lot. Why are they passing through? It’s because you aren’t giving them a compelling reason to stop. By using technology, you can impress your website visitors enough to make them stop. So, that being the case, how do you get those 9,700 people to stop on your website? Through technology… just like every other retailer. That means if they are capturing just 2-3% of these, most are missing out on 9,700 of their website visitors! The average dealership will get 10,000 visitors per month. ![]() However, the fact is that dealerships already have enough traffic to improve their business margins – by a huge amount. Many vendors want to sell dealers MORE traffic to their website. Well, I’m here to tell you that result is no longer acceptable. Now, using this example, why should you care?īecause that’s what consumers want! Look, it wasn’t all that long ago that NADA told dealers if they captured 2-3% of consumers on their websites they were doing a good job. ![]() They offer 360 degree interactive views of each vehicle on both the outside AND the inside of the vehicle! Don’t believe me? Just check out Carvana’s website and one of their VDPs. I know what you’re thinking: “We don’t need that!” But guess what? You are wrong. Many also offer 360 degree interactive photos. When you look at a product page (the parallel of our VDP), they provide the ability to zoom in on a picture to look at small details. What’s next? Well take a look at most high-end retailer’s websites. Then video was introduced, beginning with stitched video and progressing to live video walkarounds. Then progressive dealers started taking 40 or more pictures which quickly became the norm. It wasn’t too long ago that one or two pictures of a vehicle on a VDP or listing site was acceptable. Let’s take vehicle inventory marketing as an example. Think about the evolution of marketing in our industry. This has opened doors for tech start-ups to encroach on the market share of dealers who normally wouldn’t have much to worry about. They’re figuring out and solving problems that we’ve ignored for too long. Not necessarily for most dealers, but for the corporate Wall Street owned retailers who DO use the same technology that works in other retail sectors and apply it to the automotive industry. Wall Street finally took notice and, once Warren Buffett entered our industry, things started changing. While the auto industry has stubbornly clung to the old ways of doing business. Most other retail businesses are embracing technology and have a huge head start on catering to the wants and desires of today’s consumers. My point is this - as dealers we’ve been taking the blue pill for far too long. ![]()
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