Car buying shifts towards digital experience
Like many other sectors, the motor industry is increasingly looking online in its efforts to attract buyers and sell cars. According to the recent One Voice report released by CarGurus, over 73% of car dealerships now have a digital presence, a figure that’s set to grow.
Increased digital presence
Many car dealers have had websites for a long time. However, as research shows most people now start their car search online, and many more are keen to complete the sale without visiting a showroom, dealers are looking to raise their digital profile and the services buyers can access online.
For instance, many customers like to start the purchasing procedure online, for example filling out a praising application at home, which can be advantageous to all parties, engaged. If there is a praising issue, you won’t be the go-between person broadcasting detail between customers and the finance source. Additionally, the purchaser gets away the self-consciousness of a less than cosmic credit record being noticed by inquisitive eyes. Consumers can decide these locations from the privacy of their personal home.
This means offering online financial completion, which not only increases the speed at which a customer is approved for a loan or lease but reduces the risk they will take their business elsewhere. The One Voice report believes that 100% of car dealers will offer online financing by 2020.
In this, car dealers are following other sectors of the motor industry. Most motor trade insurance companies such as quotemetoday.co.uk/motor-trade-insurance, now provide customers with the ability to complete financial transactions online without having to visit an office or speak to a salesperson.
An increased digital presence can also help car dealers attract customers, many of whom are looking for an alternative to the traditional car shopping experience. Search engine marketing, for example, is already used by over 45% of dealers as a way to target customers by using specific keywords and search terms.
Once a buyer has found the car they are interested in, a video car tour can help them decide if the car is for them. Video tours are becoming increasingly popular amongst car dealers; 40% currently offer them on their websites.
Even more dealers offer online evaluations for customers looking to trade-in their current car, helping them work out just what they can afford. Currently, this figure stands at 60% but One Voice shows another 30% are looking to join them. When a consumer starts the purchasing procedure on your dealership’s website, they are finally purchasing the car from your store. Whether the sale begins from the “self-service queue” on your website or not, the gradual transaction in due course of time ends up on your floor.
Ultimately, the digitisation of car dealers could lead to a click-to-buy model of car sales, removing the need for car showrooms altogether. When this might happen isn’t completely clear but as more customer go online for their car search, the next step of buying a car online seems the logical one.