How Lead Loyal are Women Car Buyers? And why it's important to care
In this session, Scott Pechstein, VP of Sales and lead trainer for Autobytel Inc., highlights the buying motivations of today?s women car buyers and tips to help retailers improve lead loyalty, enhance customer service, and ultimately sell more cars to women consumers.
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Women In Automotive 2016 - Scott Pechstein
1. How Lead Loyal are Women Car Buyers?
And Why Should You Care?
Scott Pechstein, VP of Sales
2. What is Autobytel?
• Founded by a car dealer in 1995
• Number one auto leads generator in the U.S.
• Lead supplier to all major manufacturers and a
network of 5,200+ retail dealerships
• Over 60 million leads delivered since inception
• Full suite of services to improve first party lead
performance
3. The New Buying Funnel
Online
Research
Social
Networking
Fact
Checking
More
Research
Purchase
Awareness
From Funnel To 360 Degree Shopping Experience
4. Marketing Influences
Traditional Print Advertising New Era of Digital Media
* 2014 Automotive Buyer Influence Study.
Nearly 80% of U.S. new light vehicle consumers now use the Internet as primary
research and shopping tool.*
5. Industry Influences
Brand Parity
Less Loyal Generations of
Consumers
Product Parity Industry Quality Awards
Improved Online
Content
Consumer Use of Ratings
and Reviews
6. Knowledge Influences
The Information Age has become
The Indecision Age
31 Models in the Midsize Sedan Segment alone
360+ Models in the Marketplace
Not counting the various trims and option packages
7. Knowledge Influences
The Information Age has become
The Indecision Age
Source: 2011 and 2014 Automotive Buyer Influence Study, IHS Automotive Driven by Polk
9. The Consumer Journey
Source: MillwardBrown Digital Google 2015 Automotive Path to Purchase and TNS US
Auto CB 2015 Local Report
10. Where the Journey Leads
Source: MillwardBrown Digital Google 2015 Automotive Path to Purchase and TNS US
Auto CB 2015 Local Report
• More time online
• 16.8 hours in 2015
• 15.5 hours in 2014
• 13.8 hours in 2013
• Less dealership visits
• 1 to 2 dealerships today
• 5 in 2005
• 71% are not fully decided about what make or
model to buy at the start of their journey
11. Quicker to Purchase
Source: MillwardBrown Digital Google 2015 Automotive Path to Purchase and TNS US
Auto CB 2015 Local Report
• 89% of purchasers are in-market
for 3 months or less
• 83% in 2014
• 69% of purchasers are in-market
for 1 month or less
• 57.5% in 2014
12. Path to Purchase
Source: MillwardBrown Digital Google 2015 Automotive Path to Purchase and TNS US
Auto CB 2015 Local Report
13. The Merry-Go-Round Effect
Website A Website B
Your
Website
Consumers jump from website to
website, just like the seats on a
merry-go-round. They visit an
average of 17 websites during the
research process*.
Goal #1: Get them to sit on your
seat (visit YOUR website).
Goal #2: Get them off the merry-
go-round (stop researching and
visit YOUR dealership)
Source: MillwardBrown Digital Google 2015 Automotive Path to Purchase and TNS US
Auto CB 2015 Local Report
14. Goal #1: Get Traffic
• Best Practices
• SEO
• SEM
• Traditional Media
• Banner Advertising
• Dealer Reviews
• YouTube Videos
• Technologies/Strategies
• Facebook
• Twitter
• Vertical Advertising
15. Goal #1: Get Traffic
• Place relevant content in front of shoppers who have self-identified the
Make and Model of interest – and Zip of the intended purchase.
• These shoppers are driven directly to your website.
Vertical Advertising
16. Goal #1: Get Traffic
For example, a consumer looks for
a new Chevy Silverado on a
publisher site. When they leave the
research site, we know what they
want. The listings show by
make/model/geo.
The dealer determines which areas
of his/her website to drive
consumers. This is also great for
conquest opportunities.
17. Goal #1: Get Traffic
Traffic
Flexibility
Technology
All automotive intenders from a
portfolio of sites with huge numbers of
visitors. Sites that generate over
1,000,000 leads per month from a very
small % of consumers who actually
submit leads.
There are many ways to generate
traffic – for service, for sales, to your
VDPs, or to other pages.
Technology presents shoppers with the
right offer at the right time. High CTR
with low CPC
18. Goal #2: Stop the Merry-Go-Round
Best Practices
• Traditional chat
• Quick response
• Product videos
• Trade-in tools
• Payment calculators
• User friendly mobile website with
multiple CTA
Technologies/Strategies
• Virtual showrooms
• Inbound and outbound compliant texting
24. Goal #2: Stop the Merry-Go-Round
Three Easy Texting Tips
• Place “text us” buttons on your desktop
and mobile sites
• Implement LMS with opt-in and opt-out
capabilities
• Text-enable your main phone numbers
25. Challenge your Sales Process
Why buy
brand?
Why buy
from me?
Vehicle of
interest
Alternative
vehicle(s)
All used
options
One Size All does not work – emphasis needs to vary for each deal.
26. A majority of consumers buy something
other than they originally intended.
Source: 2015 Autobytel lead analysis from by IHS Automotive driven by Polk
360 Degree Shopping Experience
Over 50% not Lead Loyal to Make
70% not Lead Loyal to Model
40% not Lead Loyal to New
17% not Lead Loyal to Used
27. Lead Loyalty by Age
Older Shoppers:
• Have owned
more cars
• Are more
knowledgeable
• Financing not as
much of an issue
• Not influenced
as much by
social media
Source: 2015 Autobytel lead analysis from by IHS Automotive driven by Polk
28. Lead Loyalty by New / Used
Notice that
the propensity
to buy used
increases as
the lead ages
Source: 2015 Autobytel lead analysis from by IHS Automotive driven by Polk
29. Lead Loyalty and Women
Women who submit a new
car lead are more likely to
buy a used car than men.
Single women who submit a
new car lead are more likely
to buy a used car than
married women.
The brands to which most
women are lead loyal are
Subaru, Lexus, Toyota,
and Honda. The domestic brand to
which most women are
lead loyal is Ford.
Source: 2015 Autobytel lead analysis from by IHS Automotive driven by Polk
30. 2015 Top Selling Brands for Women
Source: GoodCarBadCar.net
1) Ford
2) Chevrolet
3) Toyota
4) Honda
5) Nissan
6) Jeep
7) Hyundai
8) Kia
9) Subaru
10) GMC
31. 2015 Women Car Buying Stats
Average Number of
Dealerships Visited Prior to
Purchasing:
Ford 1.83
Chevrolet 1.77
Toyota 1.90
Honda 1.94
Nissan 1.78
Jeep 1.74
Hyundai 1.77
Kia 1.81
Subaru 2.15
GMC 2.12
Source: GoodCarBadCar.net
32. 2015 Women Car Buying Stats
Bought at Dealership Where
They First Shopped:
Chevrolet 63.3%
Toyota 61.1%
Hyundai 53.2%
Jeep 47.0%
Subaru 46.4%
Kia 41.1%
Honda 39.2%
Ford 38.4%
GMC 36.0%
Nissan 33.1%
Source: GoodCarBadCar.net
33. 2015 Women Car Buying Stats
Found Dealership’s Website Helpful:
Hyundai 87.8%
Ford 85.8%
Subaru 84.5%
Nissan 83.3%
Chevrolet 82.7%
Toyota 78.1%
Honda 72.7%
GMC 71.4%
Jeep 68.8%
Kia 61.1%
Source: GoodCarBadCar.net
34. 2015 Women Car Buying Stats
Top Reason for Buying at Dealership
for ALL Brands:
“Sales associate’s
customer service”
(Building a relationship early on,
and lasting, is key!)
Source: GoodCarBadCar.net
35. Time for Change
Myth – “When a consumer submits an internet lead, my
competition is my fellow brand dealer in the area . . .”
Truth – The consumer is still shopping brands as the car
choice is being finalized
Truth – Consumers visit 1.2 dealerships today, down from
5 in 2005.
36. Recap
• Drive traffic.
• Convert traffic.
• Give consumers options.
They’re confused.
• Don’t take the lead too
literally.
• New & Used Car Sales
Professionals are more
important than ever before!!
37. Scott Pechstein, VP of Sales
scottp@autobytel.com
(866) 589-5498 – Direct
(949) 278-8618 – Cell