Edmunds Must Do's For Today's Automotive Retailer

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Transcript of Edmunds Must Do's For Today's Automotive Retailer

MUST DO’sOCTOBER 11 2012

FOR TODAY’S AND TOMORROW’S AUTO

RETAILERS

Jeremy AnwylVice Chairman

…but first, a little background

UNDERSTAND WHAT THE CUSTOMER REALLY VALUES

DEVELOP THE PROCESSES TO CONSISTENTLY DELIVER

COMMUNICATE EFFECTIVELY TO THE MARKETPLACE

HERE’S WHAT WE’RE GOING TO COVER

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18 MILLIONMONTHLY

VISITORS

8,000+CAR SHOPPER INTERVIEWS

PRICINGONLINE INVENTORYEXPEDITED TRANSACTIONSHUMAN ELEMENT

WHAT CUSTOMERS VALUE

DEVELOPTHE PROCESS TO CONSISTENTLY DELIVER

PRICING

IS CONFIDENCE IN PRICING POSSIBLE? CLARITY AND TRANSPARENCY LEASING TRADE IN VALUATIONS TRUE COST TO OWN® GROSS PROFITS

TRANSPARENCY

PRICING

CUSTOMER TURN-OFF

Traditional MSRP-Only Listings with “Request Quote”

1 Internal Edmunds brand and segmentation study conducted in 2011

47% OF USERSWANT UPFRONT, STRAIGHT FORWARD PRICINGINSTANT GRATIFICATIONDEALERS ARE REWARDEDGROWTH IN MULTIPLES

TRANSPARENCYTMV®

PRICINGTRUE MARKET VALUE®

TMV®

RESEARCH PROCESSGUARANTEED PRICING

ONLINE INVENTORY

GUARANTEED PRICING TEST

6x INCREASEPORTLAND

RESEARCH PROCESSGUARANTEED PRICING

ONLINE INVENTORY

GUARANTEED PRICING TEST

INCREASE10x

BALTIMORE

INVENTORY

FEATURESPHOTOSPRICES

SPECIAL OFFERSDEALER RATINGS

AND REVIEWSTOOLS

MOBILE

ONLINE

APPOINTMENT BEST PRACTICES

CONFIRM VEHICLE IS IN STOCK

ASK WHO IS REGISTERING THE VEHICLEINQUIRE ABOUT TRADE-INsGATHER CREDIT INFORMATION TO PRE-APPROVEINFORM YOUR FINANCE & USED DEPARTMENTS OF THE APPOINTMENTMAKE SURE THE CAR IS PREPPED AND READY

TRANSACTION TIME

TRANSACTION TIME

CHECKLIST FOR EXPEDITED PURCHASE

HUMAN BY DESIGN…Positive Human Interaction

COMMUNICATECREDIBLY TO THE MARKET

Build in a SURPISE!

TRUSTED ONLINE SOURCES

REVIEW SITES

REVIEW SITES

UNDERSTAND WHAT THE CUSTOMER REALLY VALUES

DEVELOP THE PROCESSES TO CONSISTENTLY DELIVER

COMMUNICATE EFFECTIVELY TO THE MARKETPLACE

HERE’S WHAT WE COVERED

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Questions?

RALPH PAGLIArpaglia@edmunds.com

JOHN GIAMALVOjgiamalvo@edmunds.co

m

JEREMY ANWYLJPA@edmunds.com

Thank YouJEREMY ANWYL

JAnwyl@edmunds.com

Thank You(310) 309-

6300

RALPH PAGLIArpaglia@gmail.com

JOHN GIAMALVOjgiamalvo@edmunds.co

m