Post on 13-Apr-2017
Managing the Virtual DealershipCustomer Experience is Everything
Changing Landscape
In Conclusion…
Connecting with your biggest InfluencerWhat Reputation Really Means
Digital Is Disrupting Business As Usual
52
Percent of companies on the Forbes 500 list in 2000 that are now gone as a result of mergers, acquisitions or bankruptcies*
*Constellation Research study
“Netflix [isn’t] even on the radar screen in terms of competition.” -- Jim Keyes, Blockbuster CEO
Brick and mortar overhead
Late fees that penalized customers were a large component of the revenue model
Failure to appreciate how quickly a niche idea can have viral appeal
Out of business
• No retail locations
• Subscription model made late fees unnecessary
• More consistent with digital changes and consumer wants
• Worth over $39 billion
Digital Darwinism
Outsourced online bookselling to Amazon
Failed to appreciate the rise of e-books and tablet readers
Out of business
• Cut into Borders’ customer base
• Launched tablets for e-books to strengthen relationship with readers
• Worth over $200 billion
Digital Darwinism
Sold its first camera more than 125 years ago
Invented the first digital camera in 1975
Resisted moving to digital because it worried it would cannibalizes film sales, its core business
Out of business
Digital Darwinism
Other Companies And DevelopmentsDisrupting Business As Usual
VIRTUALDEALERSHIP
Consumers Are Letting Us Know That Great Digital ExperiencesAre No Longer A Pleasant Surprise… They Are Expected
Sadly, Maintaining theVirtual Dealership
is Often Overlooked
Online Presence Matters to Consumers … A Lot Not Push vs. Pull … It’s Attract vs. Repel80% of consumers will not frequent a business with unmanaged, negative reviews
Consumers Expect Simplicity and Confirmation From Other Consumers
THE INTERNET HAS CHANGED AND CONTINUES TO CHANGE CAR BUYING AND CONSUMER
BEHAVIOR
Dealerships that maintain a positive online presence and get consumers into their facility stand a good chance of closing them
Digital Presence Has Never Been More ImportantFor Automobile Dealers
More independent research using more
digital channels
+Less contact with
the dealershipbefore visiting
-Fewer dealership
visits before buying
-
Reality of Dealership Life
Search Engine Results The first impression
Reputation Management What people really think about the dealership
Social MediaHumanize the Dealership
Website Optimization Online Profit Center
Building Blocks of the ”Virtual Dealership”
SEARCH ENGINE
RESULTS PAGE
WEBSITEOPTIMIZATION
SOCIALMEDIA
REPUTATIONMANAGEMENT
MOBILE SOCIAL
Three Key Online Trends To Watch In Car Buying
Source: Millward Brown Digital/Google Vehicle Shopper Path to Purchase Study, September 2013
In-Market Shoppers are Increasingly Mobile
The New Expectation
Influential Mobile Accessible Precision Targeting Youth-Oriented Search Engine Results
Social Media is Growing in Importance
So Many Choices. So Many Experiences
What Can We Learn From The Way Other Luxury GoodsAre Presenting Themselves Online?
Neiman Marcus Takes an Integrated Approach and Leverages its Content
and Messaging Appropriately Across ChannelsPinterest FacebookTwitter
Website
What Can We Learn From The Way Other Luxury GoodsAre Presenting Themselves Online?Louis Vuitton Also Promotes Campaigns Across All Digital Channels Using
Mobile, Video and SocialInstagram
Website
Pinterest Google+
YouTube
TRUST
VALUEPRODUCTS
GOAL
TONE
MESSAGE
IN MARKET
Convert
Urgent
ProductValueOffer
RetainConsider
Informational
TrustVehicle CareLifestyleFuture ProductsPersonality / People
Integrated Messages
DECISIONTRIANGLE
OWNER/PROSPECT
How to Build Trust & Value
SocialWebEmail
Actions
Be Where Your Customers Might
Be
Integrate YourMessage
Everywhere
Use DifferentTools and Tones
Let Your Personality
And Your People Shine
Meet Your #1 Consumer
Name
Address
URL
Phone
How to get Google’s Attention?
Optimize the Experience
What Does Google Find? And What Does it Tell Everyone Else?
Why Do Online Reviews Matter? WIIFM?
(Moz’s 2014 Local Search Ranking Factors Survey)
(such as quality of reviews, star rating, velocity of reviews) contributed 9.8% to local search ranking
power
IMPROVED RANKING& HIGHER
CONVERSION
REVIEWSIGNALS
SEO Value
Consumer Credibility
Why Do Online Reviews Matter? WIIFM?
Of Consumers ReadReviews To Determine
The Quality Of A Local Business
88%Say Positive ReviewsMade Them Trust ALocal Business More
72%Trust Online ReviewsAs Much As PersonalRecommendations
88%
(Search Engine Land)
+42%Percentage increase in website traffic among most improved performers
-58%Percentage decrease in website traffic among least improved performers
Positive Correlation Between Increasing And Improving Online Reviews And Increased Website Traffic
TopBottom
Rank:
Digital Evaluation
Dealer Success Metrics
Reputation Management
RDR CountCP RO CountRDR Growth
CP RO GrowthSales Retention
Service RetentionSales Market
ShareService Market
Share
Review of over90 data points
Dealer’s Combined Star Rating
Analysis
Digital Evaluation Reputation Management
RDR CountCP RO CountRDR Growth
CP RO Growth
Sales RetentionService Retention
Sales Market ShareService Market Share
High Correlation with Each Major Reporting Factor
Embrace ChangingConsumer Behavior
Make sure Customers and Google can find
your marketing platforms
Actively Build YourReputation Online
Let Your People and Your Personality Be
“Your Unique Advantage”
In Conclusion…And I mean it this time!
Thank You!
Safe Travels Home