Are You Ready for the Online Dealership?
If you’ve been in the automotive industry for long, you’ve encountered numerous CRM trends. Your CRM isn’t what it used to be, though. What was once a glorified address book, is now a powerful sales tool thanks to modern innovation.
The automotive industry is undergoing a dramatic transformation. Even longtime automotive executives like Bob Lutz think dealerships are ultimately doomed. And auto retail isn’t alone. Retail as a whole is in the midst of a crisis, with brands like Toys ‘R’ Us, American Apparel, and Claire’s declaring bankruptcy.
- 1. Artificial intelligence (AI)
- Thanks to the incorporation of artificial intelligence (AI), CRM tools do a lot more than store client information. It’s easier than ever to filter through leads, referrals, and inventory data. Running reports is a lot less daunting, thanks to the minimal effort you need to pull information. Time once spent on data management is now free to focus selling your inventory and inventing new marketing campaigns.
- 2. Increased digital communication
- The numbers show that technology can drive your dealership to better business development. Today’s car buyers prefer digital communication to spending countless hours wandering around your showroom. Cox Automotive’s 2017 study revealed that if given a choice, 58% of customers would prefer a digital negotiation to one that takes place in person. The research also shows that 62% of customers would shop farther from their home to find a vehicle if they knew dealers offered a digital buying process. Automated texts and emails are just one way for dealers to expand their potential client base while appealing to the modern customer’s preferred research and communication methods.