Fine-tuning
every touchpoint
Why harnessing new efficiencies at every step is the key to keeping pace in a fast-moving automotive retail space.
There’s no hiding the fact that dealerships’ profit margins are taking a hit from all sides, with less customers spending less time in the showroom.
This makes the case for developing more efficient processes at all stages of the car buying and ownership journey increasingly important. From more streamlined customer engagement—both online and in-person—to more effective lead management and aftersales, every interaction needs to be scrutinised and optimised.
25%
The decline in the number of people walking into a dealership without having been contacted in advance.
Source: McKinsey, 2021
According to a recent article by Forbes, the gold standard for the length of time to complete the purchase of a new vehicle should be less than 30 minutes online and 60 minutes in the dealership. This puts the efficiency of both these areas under the spotlight.
To compete, digital touchpoints will need to be fast, streamlined, and personalised. And dealership experiences will need to evolve so that clued-up customers can complete their purchases with minimal friction. Making this possible will require the platforms, data, and insights to be able to predict what customers want and deliver it at speed.
23%
The proportion of dealerships that registered an excellent website loading speed of 0-2 seconds.
Source: Kagool – Dealership Digital Census, 2019
Prospective buyers are less inclined to want to interact with sellers at car dealerships. That decline in preference is falling across all regions and age groups—especially for consumers between 55 and 70 years of age.
Source: McKinsey, 2021
With the majority of leads coming from those serious about buying, car dealerships must handle those leads effectively, follow up quickly, and keep in touch regularly. Technologies such as chatbots, automated emails, and streamlined forms can all help to ensure that customers move through the sales funnel smoothly.
86%
The level of customers who are at least somewhat certain the vehicle is a good fit before they submit a lead through a car shopping site.
Source: AM Online, 2021
23.5%
The average number of dealers' leads flagged for not receiving follow-up within 24 hours."
Source: Foureyes, 2020
Thanks to the rise of self-service digital channels such as online banking, today’s digitally savvy car buyers expect to be able to book and manage every aspect of their car servicing in a simple, hassle-free environment.
On the other side of the coin, car dealerships need to be able to offer their technicians a joined-up view of all jobs going through the workshop so that they can make the workflow more efficient. Only by uniting data and systems and plugging in the right tools can car dealerships realise these gains.
60%
The percentage of car buyers who perceive booking, paying, and reviewing additional services online as very appealing.
At Keyloop, we are forward thinkers who are here to help car dealerships evolve for the challenges of today’s automotive retail landscape. We have the DMS, apps, and technologies that you need to leverage your data, unlock insights, and drive efficiencies at every stage of the car buying and ownership journey.
Contact usWant to find out more about how our solutions could benefit your business and your customers? Get in touch here and one of our team will be happy to help.