edmunds must do's for today's automotive retailer
TRANSCRIPT
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MUST DO’sOCTOBER 11 2012
FOR TODAY’S AND TOMORROW’S AUTO
RETAILERS
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Jeremy AnwylVice Chairman
…but first, a little background
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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
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PRICINGONLINE INVENTORYEXPEDITED TRANSACTIONSHUMAN ELEMENT
WHAT CUSTOMERS VALUE
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DEVELOPTHE PROCESS TO CONSISTENTLY DELIVER
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PRICING
IS CONFIDENCE IN PRICING POSSIBLE? CLARITY AND TRANSPARENCY LEASING TRADE IN VALUATIONS TRUE COST TO OWN® GROSS PROFITS
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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
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TRANSPARENCYTMV®
PRICINGTRUE MARKET VALUE®
TMV®
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RESEARCH PROCESSGUARANTEED PRICING
ONLINE INVENTORY
GUARANTEED PRICING TEST
6x INCREASEPORTLAND
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RESEARCH PROCESSGUARANTEED PRICING
ONLINE INVENTORY
GUARANTEED PRICING TEST
INCREASE10x
BALTIMORE
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INVENTORY
FEATURESPHOTOSPRICES
SPECIAL OFFERSDEALER RATINGS
AND REVIEWSTOOLS
MOBILE
ONLINE
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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
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TRANSACTION TIME
CHECKLIST FOR EXPEDITED PURCHASE
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HUMAN BY DESIGN…Positive Human Interaction
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COMMUNICATECREDIBLY TO THE MARKET
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Build in a SURPISE!
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TRUSTED ONLINE SOURCES
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REVIEW SITES
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REVIEW SITES
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UNDERSTAND WHAT THE CUSTOMER REALLY VALUES
DEVELOP THE PROCESSES TO CONSISTENTLY DELIVER
COMMUNICATE EFFECTIVELY TO THE MARKETPLACE
HERE’S WHAT WE COVERED
123
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Questions?
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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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