The Unthrottled Benefits of Automotive Digital Retailing
John Currado & Alan Bird The automotive industry is in a state of disruption. From vehicle model, fuel type to consumer behaviour, every aspect of the automotive sales journey is rapidly changing – and it’s all digital. While our industry has been slower to make this shift, the pandemic, as well as the uptick in
John Currado & Alan Bird
The automotive industry is in a state of disruption. From vehicle model, fuel type to consumer behaviour, every aspect of the automotive sales journey is rapidly changing – and it’s all digital.
While our industry has been slower to make this shift, the pandemic, as well as the uptick in electric vehicle trends, have accelerated this change. Digital retailing is transforming the automotive industry as we know it. The old belief that you must see it, touch it, and drive it to buy it, is no longer the case. The purchasing decision of the consumer now sits behind a screen as much as behind a steering wheel.
As we make this transition, the key to creating a truly digital process and customer experience is recognizing that it’s not just moving the old process online. True digital is about more connectivity and a complete, streamlined path to purchase.
The goal is to create seamless online and in-person experiences that easily integrate. Being flexible and adaptable to customer needs requires blending new technology with the traditional showroom, with the help of an automotive digital retailing platform.
At its core, digital retailing is about engaging the customer – using data to know their real desires and turning leads into sales. Consumers benefit from these integrated digital touchpoints through greater personalization, a digital showroom that never closes, and even a contactless buying experience.
Digital retailing also offers a level of transparency that consumers have never had before. It extends more control, from how they select options to more involvement in financing. It gives them the opportunity to connect the dots and be part of the process in a more detailed way. This can increase long-term engagement as each touchpoint fosters trust with great potential for loyalty.
Dealerships also have much to gain from implementing a robust automotive digital retailing system. From generating leads and processing credit to managing portfolios, digital retailing enhances organization and profitability, making operating and managing a dealership easier.
A digital automotive retailing platform can offer a custom lead dashboard, 24/7 mobile app, and an automated scheduling system for meetings, test drives, and follow-ups. It can create KPI reports to track team performance, mine customer data, facilitate targeted customer communications, message lenders, and provide weekly portfolio notifications.
Leading the pack, new EV companies fit extremely well with digital retailing. These OEMs are going directly to the consumer, using fewer dealerships, and opting instead for boutiques and delivery centres to complement their digital presence.
Now this trend is moving beyond EVs, with some traditional OEMs exploring similar online options. Whether they offer a different customer experience or rely on their trusted dealer networks, digital retailing will be a major part of every company’s strategy going forward.
And ultimately, it’s going to get a lot easier. taq’s Automotive Intelligence and One Platform is the end-to-end solution that will simplify your transition to online sales. It provides the connectivity needed to put your team ahead in the digital retailing space and helps you stay there.
By seamlessly integrating the in-person dealership or boutique experience with a new and improved online retail experience, taq provides customers, dealers, and OEMs alike with unparalleled opportunities.
Join us as we enter the new digital world of efficiency, sales, and growth.
John Currado, President, taq Automotive Intelligence
Alan H. Bird, Chairman and CEO, SCI Group of Companies