Industry Summit Keynote - Evolution Of Car Dealership's Profit Centers
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Transcript of Industry Summit Keynote - Evolution Of Car Dealership's Profit Centers
Sean V. Bradley, CSP
The Next Evolution In The Automotive Sales Industry
Sean V. Bradley, Csp• Automotive Sales professional since 1999
– 30 (33) Car Guy (Weisleder Mazda)– 110 Internet Sales (Pine Belt Automotive 2001-03)– 95-100 Units per month at a single point Nissan Dealership
(Cherry Hill Nissan 2003-04)
• 11+ Years on the front lines• CEO of Dealer Synergy• Trained 14,000+ Automotive Sales Professionals
Sean V. Bradley, CSP• Trained over 980+ dealership• Co-Creator with wife, Karen Bradley, on #IS20G• FranklinCovey Certified Trainer• NSA CSP• Pioneer of Video SEO• Author of Googleopoly• Entrepreneur (own 9 companies, 2 are in the Multi-Million Dollar category)
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The Next Evolution in...
The next evolution in F&I
Do you want to do F&I like it’s the 40’s?
F&I Situational AnalysisDespite studies that point to a need to update the experience, F&I offices have been
posting some of the highest per-copy averages in the last seven years.• After breaking the $1,500 per-copy mark in the fourth quarter 2014, Group 1
Automotive posted a per-copy average of $1,525.• Ahead of the dealer group was AutoNation, which average $1,528 in F&I profit per
retail unit in the second quarter.• The other public dealer groups aren’t far behind, Asbury at $1,373, Lithia and Penske
hovering around $1,200.
So F&I is doing well, but consumer study after consumer study point to a broken process, at least in the eyes of consumers.o They want to begin part of the process online. o They want to be able to research products online.
“Most of these groups have said a focus on training is what’s driving these gains in their per-copy averages.”
50% With The Finance Manager
43% With The Salesperson
6% Through A Kiosk
34% Through a 3rd Party Website
32% Through A Dealership Website
22% Through a OEM Website
11% Through A Print Publication
How Consumers Prefer to FIRST Learn About F&I Products
Improve closing rates by engaging customers online before they reach the dealership. Closing rates increase when car buyers have a better understanding of aftermarket products.
Consumers Are More Likely to Purchase F&I Products
If they could learn more about them on their own time, before finalizing vehicle purchase.
If they could learn more about them on their own time, and purchased online after the purchase.
If the Dealer’s website could help them better understand the value of the products.
If the Finance Manager could help them better understand the value of the products.
Begin exploring the new and innovative ways to improve your process! Use new tech to supplement and reinforce your conventional strategy
Evolve your F&I process.Only 17 out of 4,002prefer the current car buying process.be the change the consumer wants to see.
How do I evolve my F&I process?Awareness & Research
● Research○ conversion, measurements, and analytics
● Awareness○ about products, services, and new technologies.
• Training • 24 / 7 Video on Demand Interactive Training
Source: http://www.coxautoinc.com/
How to use video to improve F&I!
Video EmailBlogsSocial MediaTestimonials
http://billdubehyundai.com/service-faqs
PRE SELL YOUR F&I PRODUCTS
The Next evolution in Communications...
Do you want to Communicate like it’s the 50’s?
says….
By 2017… 90% Of Web Traffic Will Be VideoToday over half of all Internet traffic is video—51 percent. And based on the current trends, we predict that in the next three years over 90 percent of all Internet traffic will be video.
100 MillionThat’s the number of Internet users who watch online video each day. Granted, a lot of those are watching the
latest viral video with a goofy cat or a cute kid, but an awful lot of them are looking for advice on how to do
something, how to make something work better, and a whole lot of them are looking to buy a service or product.
If you're not using video marketing, you're missing out on a huge market opportunity.
1. YouTube has more than 1 billion users
2. Every day people watch hundreds of millions of hours on YouTube and generate billions of views
3. The number of hours people are watching on YouTube each month is up 50% year over year
4. 300 hours of video are uploaded to YouTube every minute
5. 60% of a creator’s views comes from outside their home country
6. YouTube is localized in 75 countries and available in 61 languages
7. Half of YouTube views are on mobile devices
8. Mobile revenue on YouTube is up over 100% y/y
The Power of Video1 Minute Video = 1,800,000 Words
One billion people logged in over the course of a single day
Facebook has surpassed an important milestone, with the social network seeing one billion people log in over the
course of a single day for the first time ever.
If you're not using social media marketing, you're missing out on a huge market opportunity.
Face TimeCommunication via two senses, sound and sight, is immeasurably more productive than voice calls alone.Skype reports 30,688,489 users online. Apple reports 700 million iPhones have been sold this year.
source:http://www.theverge.com/2015/3/9/8164357/apple-watch-event-700-million-iphones-sold
98% of text messages are read
Texting customers is often an efficient and well-responded to method of communication. However, because of federal regulation under the Telephone Consumer Protection Act, strict policies must be adhered to regarding the texting of customers.
Be sure to have the following Standard Operating Procedure in place when it comes to texting at your dealership.
UsageTexting a customer is only permitted through the CRM system or through an approved Google Voice account.
Opt-In To begin text communications with a customer, they must receive and agree to an opt-in message.
Opt-Out If, at any time, a customer replies “STOP”, “END”, or any other message that may be implied as a request to refrain text communication, you must immediately cease all text communication, and document it in the CRM.
DocumentationTexts sent or received through the CRM system are to remain logged in the CRM.
IndemnityUnder no circumstances are dealership personnel permitted to text prospects from their ownpersonal devices or Google Voice accounts.
Social Media is the #1 form of communication!
The number of social network users around the world will rise from 1.47 billion in 2012 to 1.73 billion this year, an 18% increase. By 2017, the global social network audience will total 2.55 billion.
For more resources visit http://automotiveinternetsales.com/
1.73 billion a year.
The Next evolution in Marketing and Advertising...
Do you want to Advertise like it’s the 60’s?
Conventional vs. DigitalUse Digital Advertising to supplement and reinforce your conventional strategy.
Conventional vs. Digital
Conventional – Radio, TV, Print
–Not trackable
–Not transparent
–Not quantifiable
Digital – Internet, mobile
–Trackable
–Transparent
–Quantifiable
$640Average cost per (car) sale in advertising (As per NADA 2015)
80%of all transaction start on search…!
92-99% of people go online BEFORE they even step foot
into a dealership!
The Power Of Google
Page one of Google•6% of people click PPC ads
•Only 5% of people go past the first page of Google
• The most influential content are online reviews.
There are two types of search engine optimization1. Onsite (25%)2. Offsite (75%)
Onsite SEO is the optimization of everything on your website
Offsite SEO is the optimization of everything else
MEASURING THE IMPACT OF ONLINE VIDEO ON BRAND METRICS
Online video is undeniably one of the key areas of focus for marketers in 2015, as well as for the next few years, because spending on desktop online video alone is projected to grow 21% every year until 2019.
Overview of the Googleopoly Strategy
•Utilize digital advertising
•Understand the Power of Google
•Have an amazing website
•Utilize the power of Video Search Engine Optimization
•Take advantage of Social Media Optimization
•Utilize the power of Reputation Optimization
•Make use of multiple secondary sites
•Make sure your website is mobile Optimized
The Next Evolution in Showroom Sales...
Do you want to Sell like it’s the 70’s?
Sales Professional Averages
40k A Year… Not Bad Right?
Find your number!
ExpensesIn Two Categories
Example Expensesusing #s
Second StepFiguring Out Your ACPC
Final StepNumber Crunching
This can be synced and mapped within your CRM
The next evolution in Training...
Do you want to Train like it’s the 80’s?
-Zig Ziglar
“The only thing worse than training employees and losing them is to not train them and keep them.”
Why We Don’t Train EXCUSES…
• It’s TOO expensive• We just don’t have the time
• We do a good enough job training
Car sales is like owning your own business.
People are your greatest investment!
Virtual Training Situational Analysis
•The online corporate market is expected to grow by 13% per year up to 2017. Today, 77% of US companies offer online corporate training to improve the professional development of their employees
•The global eLearning Market is expected to reach $107 billion by 2015. The global self-paced eLearning market reached $32.1 billion in revenue in 2010 with a five year compound annual growth rate of approximately 9.2%.
Don't let your people practice on real customers!
•24/7 Access– Internet and BDC reps, managers and
others can train 24/7 anywhere.
•You can track progress.
Why use Video On Demand Training?
○ Accountability system in place that tracks who is watching the videos, when they are watching them, what videos were watched, how long they were viewed and if they were they watched to completion.
Why use Video On Demand Training?•People learn differently.
– That’s why VOD platforms are so much more powerful than “old school” training resources like outdated workbooks or video tapes.
•There is no more “lost opportunity.”
– Because of the 24/7 video on demand capabilities, the training is done when and where you choose as the dealer. Not only can you can schedule time to train accordingly, you can also provide the resource for your people to immerse themselves additionally on their time
•Training is no longer cost prohibited.
– For less than the going rate of an intermediate trainer to spend one day in your dealership , you can have a 24/7 comprehensive VOD training, tracking, testing and certification platform for your entire team.
Why use Video On Demand Training?
TRAINING TOPICS
CRMSHOWROOM
SALES
SALES MANAGEMENT
INTERNET SALES
BDC
DIGITAL MARKETING
TECHNOLOGY
F&ITIME MANAGEMENT
ORGANIZATION
EFFECTIVE COMMUNICATION
CUSTOMER CARE
It’s more than just watching...
It’s interactive and customizable content.
Bad experiences are a thing of the past. With a great VOD system, you know you’re getting the
best of the best.
Why use Video On Demand Training?
Do more. Be more .
Achieve more!
In conclusion...
A special offer!
Test drive Bradley On Demand and Alpha Dawg VT for one week FREE!
Visit: BradleyOnDemand.com
Be sure to get your Free copy of Win The Game of Googleopoly!!!
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