Movement That Inspires | How KIA Is Kicking Off The New Year

This is the year that once felt as if it was never going to come … but it’s here!

Here’s to a new year of manufacturing, sales and (of course) thriving!

Although some parts of the world may be experiencing another lockdown, the automotive industry is still in motion.

Just today KIA shared their brand new logo.

According to president and CEO, Ho Sung Song, the logo “represents [KIA’s] desire to inspire customers as their mobility needs evolve.”

Similar to KIA, automotive manufacturers across the nation and globe all have a clear understanding of one thing: evolution.

2020 was a year full of trials and tribulations for many industries across the board and the automotive world was no exception.

Whether it’s training your sales staff or finally updating your dealerships online presence, the need to change and adapt is a constant in this digital world.

It’s the beginning of a new year!

Now’s the time to take stock in what’s working versus what isn’t working.

Review your profit, review your average closing rate, and don’t forget to be honest with yourself and your team on how well you’re following up with leads.

It’s a new year… a fresh start … so maybe it’s time you consider hiring an overnight BDC service.

It’s a worth a shot, right?

The Electric Car’s Comeback

Ford’s F-150 pickup truck is this years best selling model!

This may come as no surprise to you… especially since, in the United States, the best selling vehicles remain large and petroleum-burning pickup trucks.

But get this… the F-150 may be the best selling model in 2020 but, in this year alone, Tesla’s market capitalization surged above $600 billion.

We are accelerating towards electric!

Believe it or not… this year’s best selling model (yes, the Ford F-150), adopted Tesla’s initial software upgrades.

Tesla’s sudden rise may be just what this industry needs after thriving through a global pandemic!

Quick Lead Response = Low Cost-Per-Sale

78% of car shoppers use 3rd party sites when searching for their next vehicle (AutoTrader).

Thanks to 3rd party vendors, consumers know which dealership has the most competitive pricing.

Now imagine if consumers knew how well dealerships followed up with their customers…

How would you rate your store?

If your follow-up was subpar, would a shopper still be impressed with your pricing?

54% of car shoppers buy from the dealership that accommodates their preferred experience, even when the price is NOT the lowest (AutoTrader).

Pricing may seem most important but it is NOT!

According to a 2016 Arthur D. Little study, dealers on average take up to 9.2 hours to respond to leads.

Nine Hours!

You shouldn’t let your customers wait more than five minutes!!

Keep your inventory priced fairly and make sure your sales staff is following up with leads ASAP!

80% of shoppers are visiting at least two other dealer sites during the shopping process (Cox).

Do not assume that a hot-to-buy customer is only looking at your inventory.

Improve your follow up today and watch your cost-per-sale lower!

What To Keep In Mind When Making Budget Cuts

We are nearing the end of the year which usually means a couple things … one of them being: budget cuts!

Before you meet with your marketing team and finding the fastest ways to decrease cost per sale remember this …

1 in 4 buyers prefer to complete their purchases online.

25% of your expected walk-in traffic wants to (and will) negotiate price and monthly payments without leaving their household.

Covid-19 has changed how industries do business and more than ever, it has changed the average shopper.

It’s imperative for dealers to step up their digital offerings in order to stay competitive.

No matter what the future holds going into 2021, cater to your customers on and offline!

The Auto Industry Has Found Its “Sweet Spot!”

Despite the harsh reality of the current pandemic, the auto industry has been resilient!

According to former Ford CEO Mark Fields, the auto industry is in a “sweet spot!”

Sounds too good to be true?

Consider this!

Retail levels are approaching last year’s levels at this time.

Thanks to low inventories, there are fewer incentives.

And guess what?

Consumers are still buying!

Consumers who are buying now have deemed themselves to be more financially-able even amidst a pandemic where businesses have struggled and thousands of people filed for unemployment.

Those who are still able to afford a new car purchase, are still going to buy!

Covid-19 is not slowing down shoppers!

What has changed are consumers’ transportation preferences.

The requirement of social distancing has increased the need for personal vehicles!

Fields is expecting a strong fourth quarter!

Here’s to staying motivated during these trying times.

If you’re getting an influx of internet leads, make sure you’re following up within five minutes or less.

Struggling to get back to customers in a timely manner?

Set up a demo with Overnight Dealer today!

The Truth About New Car Sales During Covid-19

December is here and the pandemic has yet to excuse itself from 2020!

Despite the economic turmoil Covid-19 has put a majority of industries through, recent reporting has indicated that the automotive industry is taking a turn … a positive one!

Consumers who are still financially stable are not turning way from big purchases.

According to Tyson Jominy, VP of Data & Analytics for J.D. Power, franchises overdid it when it came to incentives this past Spring. Jominy noted that new car buyers who are ready to buy and can afford to buy new, WILL buy new.

There has been a lack of incoming inventory which means the automotive industry is achieving something it has always wanted:

A profitable “pull” setup (demand exceeds supply), as opposed to the traditional “push” economy (move excess inventory thanks to huge discounting)!

As for used car inventory, there has been a 12% wholesale price increase YoY due to low inventory.

It’s expected for the vehicle shortage to prolong til mid 2021 but it will not keep car shoppers from shopping!

Low on inventory and possibly low on staff, your customers still demand a response when they’ve submitted a hot lead!

Consider hiring an overnight BDC service to help you qualify and respond to leads in five minutes or less!

Set up a demo with Overnight Dealer today!

Top Three Ways To Crush Your Last Selling Weekend

The last weekend of November is here!

It’s time to crush your final selling days!

Here are three ways to get you started:

Motivation Is Key

Your sales staff is overworked.

They need you for support and motivation!

Help your sales staff set personal goals and show interest in their progress in this final week.

It’s not easy coming back to work after a holiday spent with friends and family… show your sales staff you appreciate their consistency and commitment to moving more inventory!

Review This Month’s Marketing

December is almost here but you still need to review how your marketing efforts prevailed for the past 20+ days.

Was every bit of your budget used?

How was the overall return?

Did you get a reaction/response to social media advertisements or 3rd party listings?

Meet with marketing and see if there is anything left in your budget to push out one last promo for the weekend!

Tighten Up Your Follow Up

Feel as if you lost a couple deals because of the holiday?

Review how quickly leads are being responded to (it should be five minutes or less)!

Is your sales staff qualifying hot leads or butting heads with bad leads?

The goal is simple: Move Inventory!

The priority is to answer leads within five minutes, confirm appointments and get customers in the door!

 

Overnight Dealer responds and qualifies your overnight leads within five minutes.

There’s no better way to start the morning than with a list of hot leads to motivate your sales staff!

Want an extra hand when handling leads during the next holiday season?

Set up a demo today!

3 Best Ways To Close Hot Leads

The weekend is here!

Your inventory is priced, ad budget is updated and your sales staff feels motivated!

Sounds like everything is working in your favor this month … so stop making your customers wait more than five minutes.

Your competitor is right around the corner and get this, 78% of buyers shop with the dealership who responds first.

It’s not about the pricing, it’s all about the follow-up!

Improve your lead follow-up technique today with these three suggestions in mind!

Cut Ties With Your Autoresponder

This relationship has gone on for way too long with very little benefits along the way!

Customers know when they have received an auto response (especially if it ends up in their spam folder).

Turn off the autoresponder and make sure your staff is responding back to customers within five minutes or less!

Your Customers Know More Than You Think

A hot lead just came in – hooray!

This customer is so excited about the new model that just arrived and can’t wait to test drive it.

Sounds like a hot-to-buy customer, right?

Absolutely…so why are you sending pictures of a vehicle they just looked at?

The plan is to get this customer on the phone or in the door.

Stop playing ’email tag,’ sending vehicle specs they’ve already perused through!

What’s Next; What’s The Call-To-Action?

You’ve got a hot lead! Yay!

So, why haven’t you set up a date or time for this customer to stop by?

Your follow up techniques via email or the phone should always have a call-to-action!

When’s a good day/time to talk on the phone?

When are you free today for a test drive?

Keep it short & simple!

Don’t ask them too many questions or bombard them with four to five pictures of your inventory.

If you have their attention, keep their attention before they look (and buy) elsewhere!

Carvana | Is It The Future of the Automotive Industry?

2 out of 3 car shoppers prefer shopping online versus visiting a dealership (Cox Automotive).

This is why companies like Carvana seem more appealing to today’s shopper!

Carvana promises a car buying experience equivalent to Amazon!

Carvana is your top competitor if you have not upgraded your dealer site with digital retailing.

Your potential customer wants their car delivered to them and yet, one thing remains the same:

78% of customers buy from the dealer that gets back to them first!

Carvana may sound like the best solution, but according to some of their reviews, the promise of convenience is met with a harsher reality.

Carvana customers have felt ‘cheated’ out of a positive experience … the concept of follow-up and care after the purchase seems to be nonexistent.

Customers prefer convenience and yet, they want consistency and personalization more!

If you’re concerned about your current lead follow-up process, set up a demo with Overnight Dealer today!

Never Miss Another ‘Hot Lead’

Your goal is to move inventory and sell more but, 35% of your leads come in overnight.

It’s impossible to answer leads that come in the night before without a full-time overnight BDC.

In addition to answering overnight leads, it’s difficult to spot a good versus a bad lead once they pile up in your CRM.

We have a solution …

Overnight Dealer responds and qualifies all of your overnight leads so sales can start the day motivated!

An overnight lead that engages with our response is considered a ‘hot lead.’

Each morning, Overnight Dealer will send you a Hot Lead Report.

This report will have a list of customers who engaged with us overnight and have set appointments for the following day (i.e. phone call or test drive).

All that’s left to do is assign the appointment/task to a sales consultant.

The work is done!

Stay focused on moving inventory and don’t stress about overnight leads.

Never miss another hot lead with Overnight Dealer!