Scott Pechstein: No Thanks, I'm just looking
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No Thanks, I'm just looking with Scott Pechstein
Page 38
No thanks, I’m just looking
Scott Pechstein
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
• What “I’m just looking” really means
• How it relates to online behavior
• Best Practices to increases sales opportunities
• Give you consumers the option to Text
Overview
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
How do you respond to “I’m Just Looking”
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
• “I’m “just selling.”• “Your time is valuable. Let me point you in the
right direction”
• Avoid the “yes or no” question.• Are you looking for a new or used car?• Are you looking for a car or a truck?
“I’m Just Looking”
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
• Two Key Reasons• Avoidance of being sold right now (key is RIGHT NOW)• Legitimate fact finding visit
• The Reality• Dealership visits are down• More fact finding is conducted online
Why are they saying “I’m Just Looking”
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
• Industry Influences Purchase behaviors continue to change More research done online
Brand Parity Merging of
Brands
Less Loyal Consumers
Product Parity
Increased Marketing
spend
Industry Quality Awards
Improved Content
Website, Inventory Research
Ratings and Reviews
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
• New car buyers spend 11.5 hours online • (R.L.Polk/AutoTrader.com Automotive Buyer Influence Study)
• 37% of shoppers enter market without a specific brand in mind • (Compete Vehicle Cross Shopping Analysis, July 2012)
• 59% of consumers don’t decide which vehicle to buy until final week • (JDP 2012 New Auto Shopper Study)
• New-vehicle shoppers consider an average of 3.3 vehicles • (JDP 2013 Avoider Study)
• Baby Boomers only visit 1.9 dealers. All generations want to avoid salespeople in the future
• (AutoTrader Next Generation Car Buyer Study)
Industry Studies
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
Where’s the Funnel?From Funnel…to Funnel Cake
The buying funnel isn’t dead, just different.
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
Dealership brand is featured• Test drive, vehicle features,
professional walk around
• Sales Consultant = Vehicle Consultant• Who, how, what?
Consumers offered personalized vehicle presentation• New, used, CPO / models, trims, colors,
optional equipment
Dealership Advantages
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Less visits = more burden on the internet lead process to drive visits
Based on their dealership experience, in the future they will avoid salespeople:
56% Gen Y49% Gen X37% Baby Boomers
Dealership Experience
(AutoTrader.com Next Generation Car Buyer Study Sept 2013)
Copyright (c) 2014 Autobytel Inc.
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
• What demographics and buying behavior trends do we know about this consumer?
• How committed are they to my brand?
• Do we stop at price or do we start asking questions?
Online Experience
Where are shoppers Buying Over 6 million Autobytel internet leads sent to Polk
annually
Polk matches leads to State Registration data for all 50 states
TPL close rates are 18 to 25%
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
Leaving sales on the table
Dealer had a 10% close rate but lost at least 7 additional sales
Dealer Name Number of Leads Total PurchasedPurch Assigned
DealerPurch. Assigned Dealer- Make
Model YearPurch Other
DealerPurch. Other Dealer - Make Model
YearPurch Unknown Dealer – Make
Model Year
Anytown VW 40 11 4 6 1
Anytown VW VOLKSWAGEN | PASSAT | 2014
Anytown VW VOLKSWAGEN | JETTA | 2014
Anytown VW VOLKSWAGEN | BEETLE | 2013
Anytown VW VOLKSWAGEN | JETTA | 2012
Main Ford FORD | FUSION | 2014
Village Nissan TOYOTA | COROLLA | 2012
Main Used FORD | FUSION | 2011
Other VW VOLKSWAGEN | PASSAT | 2014
Main Hyundai HYUNDAI | GENESIS COUPE | 2011
Another VW VOLKSWAGEN | BEETLE | 2013
CHEVROLET | S TRUCK | 1996
Purchases based on 1 month of leads and up to 3 months registration period
Lead Date Period: MARCH 2014Sales Match Period: Lead Date + 90
Copyright (c) 2014 Autobytel Inc.
• Bought Used – any make• 44.17%
Submitted a New Car Purchase Request
New to Used Defection
Copyright (c) 2014 Autobytel Inc.
Why Buy from Me
1
Vehicle of
Interest
2
Alternative Vehicle(s)
1 New & 1 Used
3
Quick response times and continuous follow up are key.
Traditional Best Practices
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
Why buy from me
2
Vehicle of
interest
3
One size fits all does not work – emphasis needs to vary for each deal!
Internet Best PracticesAlternative vehicle(s)
4
All used options
5
Why Buy Brand
1
Copyright (c) 2014 Autobytel Inc.
How do I engage the consumer?
• Phone Challenges
How many times do I call? At different times? Do I sell the car or the appointment?
• Email Challenges
Automated responses and how often? Do they seem like auto responses? Do I offer pricing?
Internet Leads (“Just Looking” Equivalent)
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
Communicate Differently• Reinforce the brand.• Mention various trims and similar models.• Explain CPO / used inventory (all models).
In Review
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
Explore New Opportunities• Texting• Virtual Showrooms (With audio interaction)
The Road Ahead
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Why Mobile?
Copyright (c) 2014 Autobytel Inc.
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
• It’s not just Millennials • Note the income levels and prime demographics
Who’s Texting
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
Click to call is very popular on smartphones…
Call Volume vs. Text Volume
…But note how text volume out paces call volume in all age groups
21 to 1 12 to 1 7 to 1 5 to 1 3 to 1
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
Not Far from the Truth
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
• Text adoption is growing 98% of text messages are read (vs. 22% emails, 29% tweets and 12%
Facebook posts). (Frost & Sullivan 2010, Slick Text)
• Character limits lead to conversation• Consultative approach leads to conversion
Two way dialogue• Ability to respond to consumers on the lot
Your lot and others
49% of automotive smartphone users made a purchase related to that interaction (The xAd/Telmetrics Mobile Path to Purchase Study)
Get Ready to Text
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
Get Ready to Text
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
Recent Text Message Cases = Multi-Million $$$ Settlements:
• Lithia Motors - $2.5 million class-action settlement (Between $175 and $500/phone number)
• Twentieth Century Fox - $16 million class-action settlement ($200/ phone number)
• Simon & Schuster - $10 million class-action settlement ($175/ phone number)
• Timberland Company - $7 million class-action settlement ($150/ phone number)
Tough TCPA Regulations
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
What if This Happened?
$1,500
$1,500
$1,500
$1,500
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
• Communication should be logged and saved (legal compliance)
• Hierarchy rules in place to hide phone numbers
• Opt-in consents and opt-out STOPS must be managed and stored
• Should load easily into CRM
Text Gateway (LMS for Text)
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
• The traditional buying funnel has changed
• Allow consumers to communicate with you the way they prefer! Higher engagement with more efficient communication Capture the high % that leave without filling out a lead form
• Avoid “just looking” – while at your website / your virtual lot.
Summary
Scott Pechstein | Autobytel | Vice President Sales | Scottp@autobytel.com l
Copyright (c) 2014 Autobytel Inc.
Today it is not about generating more leads…
It is about generating more engagements (conversations) that lead to more sales.
“I’m Just Looking”
Contact Info
Scott Pechstein
Autobytel Inc. Vice President,
Sales
Text me! (949) 278-8618
Scottp@autobytel.com
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