At AutoFi we know that only 12% of consumers purchase vehicles online end-to-end, while the large majority finish up in-store. People like shopping for cars online and they want to do as much of it as they can, even if they eventually finalize the deal in the showroom. The large majority of Americans use the hybrid model to buy a car — and your dealership needs to approach these customers with the right digital tools, in-store and out.
Digital retail should not be defined by just the technology on your website. It’s about empowering the people and processes to deliver a seamless sales journey to the customer. This is where in-store digital tools come in. And while the benefits of in-store digital technology for the customer—including a smooth hand-off from the online to the in-person experience, picking up exactly where they left off—are well-known, the benefits of the tools for the dealership are less frequently discussed.
Here then are 4 ways you can empower your sales team with digital in-store tools:
Boost PVRs with streamlined product presentation
Often judged solely on the bottom line, managers are early adopters of in-store digital retail because the technology improves PVRs. The tools you want allow customers to see payments with the right lender markups and dealer fees—with 100% of products shown to 100% of customers, 100% of the time. Deals powered by AutoFi in-store solutions, on average, see PVRs 12.5% higher than do deals not using it.
Help land customers on vehicles
With in-store digital tools your team can help customers zero-in on a vehicle. Let’s say a hybrid customer enters your showroom pre-approved for a loan, but she’s unsure of the exact vehicle to purchase. It’s difficult for many sales consultants to land customers on a car and sell the product, because going to the desk takes time and leaves the customer waiting. This efficiency is a win-win for the dealership’s staff and the customer’s experience.
Pre-sell F&I products
Early data shows that dealers using AutoFi’s in-store digital tools sell service contracts purchased on 86% of deals, compared to only 71% of deals completed without using the tool. This 21% jump makes sense: customers are more likely to buy F&I protection products if they are presented with them before spending tens of thousands of dollars on a vehicle.
Elevate your BDCs
Additionally, with in-store digital tools, BDCs are empowered to own more of the sales process. Phone calls are elevated into shared deals, creating buyers instead of just appointments. Online Shopping Cart experiences led by BDCs lead to efficient hand-offs and higher conversion rates.
Are you ready to finally offer customers the Real Deal? Meet with us today to discuss how your dealership can deliver joy and trust to the car-buying process, online and in-store.