- November 30, 2018
- Posted by: Kari Jones
- Category: Automotive Industry, Tips For Dealers
We are currently witnessing a shift in consumption patterns, and this could be key to boosting sales of vehicles and, in particular, car finance deals.
Most of us can probably remember when DVDs were the latest trend and we were in awe of this new technology, but now, owning DVDs is old fashioned. Why would you want to buy a DVD when you could sign up to a streaming service? Consumption is becoming less about ownership of tangible commodities and more about experience.
These consumption patterns can also be seen in the automotive industry, with people moving away from the traditional model of mobility, which involves owning a car and towards alternatives like car sharing and finance agreements. The latest Auto Trader Market report revealed that 30% of cars were bought on finance last year and this is only going to increase.
Rather than investing in a car to own, we are seeing more and more consumers investing in experience. If we take PCP and leasing contracts as examples, customers may be able to get a better car and a better experience than if they were to buy it outright, by sacrificing ownership.
When consumers enter the car buying process, the actual vehicle is not the only thing that they care about. They want a professional, enjoyable experience delivered by experts with insider knowledge who will listen to them and help them make the right choices. They want a straightforward, efficient and honest process and they are willing to invest in this as much as the vehicle they are buying.
The key, therefore, to boosting car and finance sales in the era of experience over ownership, is to perfect your processes to deliver an exceptional standard of service.
Review Your Process
Look at the current processes within your dealership and make sure they are tailored around delivering the best customer experience, ensuring that your team’s roles are clear.
Train Your Team
It is very important that your team is competent and confident enough to tell customers what the best options are for them, so ensure that they are equipped with all of the relevant knowledge they might need, including a good understanding of finance.
Empathise with Your Customers
Your team will have their own views and opinions about what the best way to buy a car is, but the customer is always right, so encourage them to put themselves in customers’ shoes and understand the benefits of various options to help them make the right choice for their circumstances.
Put the Customer at the Centre of Decisions
Pressure to meet targets can result in staff pushing sales at the expense of the customer experience, so if you are really set on putting the customer first, you should consider implementing incentives for achieving good reviews and customer satisfaction instead.
For more information about how Click Dealer can help your dealership’s performance, get in touch today by emailing us at email@example.com, calling us on 01782 478220 or sending us a message via our contact page!