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Similar a The internet and phones are the new showroom and the key to 88 million millennials
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The internet and phones are the new showroom and the key to 88 million millennials
- 5. #NADA100 Who are these Millennials 5 First generaEon who don’t know life without the internet & personal tech devices • Age: 19-35 (in 2016) • NOT influenced by adverEsing • Rather BUY a car and LEASE a house • Review blogs BEFORE purchasing • Value AUTHENTICITY over content hVp://www.forbes.com/sites/danschawbel/2015/01/20/10-new-findings-about-the-millennial-consumer/#30be755e28a8
- 6. #NADA100 What are Millennials looking for 6 Millennials are leading a change in purchase trends • On Demand access – Mobile Strategy • Social Media for shopping informaEon • Price sensiEve • High value discounts OVER instant discounts • LOYALTY programs hVp://www.forbes.com/sites/danschawbel/2015/01/20/10-new-findings-about-the-millennial-consumer/#30be755e28a8
- 7. #NADA100 StaUsUcs on Millennials 7 Millennials are leading a change in purchase trends • 89% shop mobile first (712 million shoppers) • 46% prefer Amazon for shopping • 43% prefer Google for shopping • 88% prefer to purchase online • 69% belong to loyalty programs • $2.45 trillion in annual spending hVps://www.entrepreneur.com/arEcle/253582
- 8. #NADA100 Why should you care? 8 Millennials ARE buying cars • New cars sales increased 18% to 27% from 2010 to 2014 • $1,464 average spend per consumer unit (new) • $2,030 average spend per consumer unit (used) • Small SUVs sold well in 2015 • Prefer “pracEcal” vehicles but aspire to “sophisEcated”, “innovaEve” & “stylish” vehicles hVps://www.bloomberg.com/view/arEcles/2016-01-04/millennials-are-buying-cars-aeer-all
- 9. #NADA100 Expanding online opportunity 9 Internet Marketplace is BOOMING • 244 million Amazon users • 54 million Prime users • Price sensiEve • Net sales 88.99 billion (2014) • 44% go to Amazon for product searches hVp://expandedramblings.com/index.php/amazon-staEsEcs/
- 10. #NADA100 The AutomoUve Marketplace 10 Real opportunity exists on the Internet • 12.5 hours spent shopping online • 7.9 websites visited before buying • 45% of Eme is spent on 3rd Party sites • 75% of purchases come from the internet (new) • 77% of purchases come from the internet (used) • Leasing accounts for 29% of all new retail sales • 18.1 million new car & truck sales in 2016 hVps://www.impactbnd.com/blog/mobile-markeEng-staEsEcs-for-2016 hVp://www.dealermarkeEng.com/2015-auto-sales-trends-and-2016-projecEons-from-edmunds-com/
- 11. #NADA100 A Mobile Marketplace 11 It is a mobile world • 34% ONLY use mobile devices to read email • 80% of internet users own a smartphone • 48% of consumers start mobile research with a search engine • 33% of consumers start mobile research with a branded website • 26% of consumers start mobile research with a branded app • 50% of smartphone users grab their device Immediately aeer waking up hVps://www.impactbnd.com/blog/mobile-markeEng-staEsEcs-for-2016
- 12. #NADA100 AutomoUve Mobile Marketplace 12 The opportunity is yours for the taking • 88% of customers use the internet to car shop • 46% use mulEple devices to get to dealer websites • 14% use mobile to get to dealer websites hVp://www.datamentors.com/blog/key-insights-understanding-2016-car-buyer%E2%80%99s-journey
- 13. #NADA100 AutomoUve Mobile Marketplace 13 More Eme is being spent shopping • 59% of Eme is spent online before purchase • 71% Research • 68% Searching vehicles • 64% comparing vehicles • 63% find current car worth • 46% Locate dealer or get info hVp://www.datamentors.com/blog/key-insights-understanding-2016-car-buyer%E2%80%99s-journey
- 14. #NADA100 Google Micro Moments 14 In The Moment Immediate. Relevant. FricEonless • 82% evaluate buying decisions • 62% solve unexpected problems • 90 % pursue big goals in • 91 % try new things hVps://www.thinkwithgoogle.com/micromoments/intro.html
- 15. #NADA100 Google Trends 15 • 78% of web search volume • 2 trillion annual searches • 2.3 million searches per second • 89% of the US mobile organic market • 1.7 billion total users • 60 trillion web pages indexed hVp://www.internetlivestats.com/google-search-staEsEcs/ hVp://expandedramblings.com/index.php/by-the-numbers-a-giganEc-list-of-google-stats-and-facts/
- 16. #NADA100 YouTube Trends 16 • Over 1 billion users (2/3 of the planet) • 4 billion video views per day • 40 minutes average viewing session • 6 billion videos watched per month • 300 hours per minute of new content uploads • The number of channels earning six figures is up 50% • Reaches more Millennials than any cable network hVps://www.youtube.com/yt/press/staEsEcs.html hVp://expandedramblings.com/index.php/youtube-staEsEcs/
- 17. #NADA100 AutomoUve Trends 17 80% of ALL transacEons start on search • 22% of auto shoppers are millennials • 70% of shoppers are men • Women drive 80% of ALL consumer purchasing • 3x more Eme spent researching than in 2013 • 75% of searches was performed on digital • 1 in 3 adults watch auto content on YouTube once a month • Bold brands think Digital FIRST hVps://www.thinkwithgoogle.com/infographics/digital-trends-auto-shoppers-july-2016.html hVps://www.thinkwithgoogle.com/arEcles/auto-trends-consumer-behavior.html hVp://www.forbes.com/sites/bridgetbrennan/2015/01/21/top-10-things-everyone-should-know-about-women-consumers/#4130e712897d
- 29. #NADA100 Lead Management How to disburse leads 29 Use training agendas to quanEfy lead disbursion • QualificaEons • CerEficaEons • Leverage (Privilege driven)
- 30. #NADA100 Lead Management How many leads per rep? 30 Showroom sales professionals BDC/Call Center Hybrid professional 40 50 60 Basic Average Above Average 80 100 120 150 New Average Above Superior Avg 80 100 Basic Average
- 31. #NADA100 Lead Management CRM 31 • Email open rate 2-4% • Phone connecEon rate 11-14% • PrimeEme to connect on phones 6-8pm • Text messages are opened 98% of the Eme • Video in email 200-300% read/open rate • Social media communicaUon stats • Apple FaceUme stats CRM follow up stats
- 32. #NADA100 Lead Management CRM 32 • Manage the sales pipeline • Manage follow up • Deploy AcUon Plans • Phone call • Email • Text • Chat • Social media • FaceEme • Skype hVps://www.swc.com/blog/customer-relaEonship-management/the-three-main-components-crm-system CRM mastery is criEcal
- 33. #NADA100 Lead Management CRM 33 • AcEon plans • Input work schedule • Ensure you are in the rotaEon to receive leads • Setup automated templates • Organize task and to-do lists • PrioriEze buckets • UElize reports • ExecuEon CRM setup process
- 35. #NADA100 Lead Management Phase 1 Follow up process 35 Phase 1 Follow up process • Email • (1) Phone call [9a-6p] • (2) Phone call [6p-8p] • Video email • FaceEme • Skype • Social media Days 1 - 10
- 38. #NADA100 Lead Management Content library - Email 38 Email templates are ONE part of the follow up strategy Develop UNIQUE templates • Compelling subject lines • Relevant text content • OpEmized for mobile delivery • Proper “Call to AcEon”
- 40. #NADA100 Lead Management Content library – Voicemail messages 40 Voicemail messages are a CRUCIAL follow up component Develop UNIQUE templates • Templates for EACH day • Vary message themes • Proper “Call to AcEon” • CreaEve in approach • Soundboards • YouTube Hello {customer name}, this is {coordinator} from {dealership}. I received your purchase request for the {year make model}. I just emailed you informaEon about the vehicle and our dealership. When you read it you will be pleasantly surprised about the amazing benefits of doing business with us. My number is {phone number}. Please give me a call to go over addiEonal benefits. My number is {phone number} Thank you!"
- 42. #NADA100 Phone Philosophy Outbound process 42 ObjecEve • Secure appointment • Set up TO Goal • IdenEfy needs, wants & objecEons • Meet them • Exceed them
- 43. #NADA100 Phone Philosophy Inbound process 43 ObjecEve • IdenEfy needs, wants & objecEons • Meet them • Exceed them Goal • Gather informaEon • Secure appointment • Set up TO
- 44. #NADA100 Phone Philosophy Top 7 reasons people go online 44 • Research • Availability • Convenience • Trade in • “I hate car salesmen” • Credit • What if’s
- 45. #NADA100 Phone Philosophy Scripts 45 Inbound Outbound ObjecEons RebuVals Develop scripts for EVERY situaEon
- 46. #NADA100 Phone Philosophy Value Package ProposiUon 46 What makes you different and beVer than your compeEEon? • Military/First responders • First Eme buyers • Women • Students • Teachers • Service perks • Daycare service • Free food • Community involvement