Edmunds Must Do's For Today's Automotive Retailer
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MUST DO’s OCTOBER 11 2012 FOR TODAY’S AND TOMORROW’S AUTO RETAILERS
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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
123
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
123
Questions?
RALPH [email protected]
JOHN [email protected]
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JEREMY [email protected]
Thank YouJEREMY ANWYL
Thank You(310) 309-
6300
RALPH [email protected]
JOHN [email protected]
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