As vehicle inventory levels are slowly replenished, dealers are once again competing for sales dollars. However, according to the Cox Automotive 2022 Car Buyer Journey Study, customer dissatisfaction with the vehicle purchasing process has dropped to just 61 percent. Primary reasons cited were lack of inventory and higher vehicle prices.
Many consumers believe that dealerships have been price gouging, and will avoid stores they believe engaged in this practice. For dealers who want to be competitive in 2023, it is critically important to earn and retain customer trust.
First, be proactive in offering car shoppers the transparent, convenient shopping experience they crave. Once you can offer that experience, broadcast it with a video marketing strategy.
Here are four value proposition videos that every dealership should create to promote their sales process.
Why Buy from You?
Every dealership has a unique selling proposition. Are you the low-price or volume leader? Are you family-owned? Can you guarantee a transparent purchase process? Whatever your competitive advantages are, make one or more videos highlighting each value proposition.
In the 2023 Capital One Car Buying Outlook study, 88 percent of car buyers say that trust is important when working with a dealership. In every video, share reasons why car shoppers can trust your dealership.
Online Purchase Process
A recent S&P Global survey found that 60 percent of consumers expect to complete their next vehicle purchase entirely online, and that 70 percent of consumers are willing to work with dealerships farther away from home if they offer more online purchase and comparison options.
Whether or not your dealership has a full digital purchasing platform, let consumers know that if they prefer to purchase their vehicle online, you want to work with them. Make an explainer video that guides shoppers through the steps of how to start the process.
According to a recent YouGov survey, 23 percent of Americans say they check social media reviews before purchasing a car. That means one in four customers actively seek out the opinions of others as they decide what and where to purchase.
Ask every happy customer if they are willing to make a customer testimonial video. While most customers will decline because they are camera shy, don’t let that deter you. Every once in a while, a customer will say yes. Have an area with a camera and lighting already set up, or shoot a quick video outside in front of your dealership. Train your salespeople how to make these videos and give them a small incentive for every testimonial video they create.
Financing and Trade-Ins
Financing and trade-in discussions are the most time-consuming part of the vehicle purchase process. If you can offer a way for customers to research these options online before they come into the dealership, it will help to boost sales and increase customer satisfaction.
If you do not offer online options for this part of the purchase process, create a video that sets expectations for customers coming into your dealership. Have your used car manager explain how a vehicle valuation is determined. Have an F&I manager share information about products and how they offer value to the consumer.
To maximize the marketing reach of these videos, embed them in lead-generating landing pages, and have links to these pages posted in every vehicle description on your vehicle display pages (VDPs). If you have inventory videos on your VDPs, include the option to link to additional videos from inside each video.
Additionally, post videos on social media and use them in email marketing campaigns. Video is the most persuasive medium out there, so don’t be shy about using it to promote your sales process.