greg stacknick – if you build it they will come
TRANSCRIPT
If You Build It They Will Come
CONTACT TRUECAR
[email protected]/Dealer
120 BroadwaySanta Monica, CA
Greg StacknickNovember 2013
3
The Impact of Trust
Why Is Trust Important?
Marketing Expense Grows
Sales Cycles Are
Longer
Discounting Becomes
Central
Loyalty Behavior Is Less Likely
Absence of Trust
Many Car Buyers Are Still Apprehensive
5
Cable
Provid
ers
Cell Phone P
rovid
ers
New Car
Dealer
s
Banks
Collecti
on Agencie
s
Used Car
Dealer
s
Auto Rep
air &
Servi
ce
Furn
iture
- Reta
il
Internet
Shopping
Mortgag
e Bro
kers
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000 Industries With Most Customer ComplaintsN
umbe
r of C
ompl
aint
s in
2011
Business
Exec
utives
HMO Man
agers
State
Govern
ors
Insuran
ce Sa
lespeo
ple
Adverti
sing P
ractitioners
Lawye
rs
Stock
broke
rs
Senato
rs
Car Sa
lespeo
ple
Members
of Congre
ss0%
10%
20%
30%
40%
50%
60%
27%27%31%
36%36%38%39%45%
49%54%
Least Trusted Professions
% o
f Con
sum
ers E
xpre
ssin
g D
istr
ust
Two thirds of Millennials believe buying a car is one of the most intimidating purchases they can make.
More than half say that negotiating a car purchase is
worse than a trip to the dentist. 2Gallup, Inc. Survey November 26 to 29, 2012
1Better Business Bureau 2011 data
3Wakefield Research 2010
The Local Dealer Does Not Always Get the Business
1TrueCar, Inc. analysis of industry December 2012 new vehicle retail sales data measuring driving distance in miles between dealership ZIP and customer registration ZIP
<15 Miles, 65.6%
15 to 30 Miles,18.6%
30 to 60 Miles, 8.8%
> 60 Miles; 7.1%Closest Dealer
48%
Non-Closest Dealer52%
15% of Purchases Are 30+ Miles Away
% New Vehicle Purchases by Dealership Distance
The Closest Dealer is Leapfrogged 52%
New Vehicle Sales by Dealer Proximity
Building Trust
Develop Your Internal Structure
9
Build/Manage Your Online Presence
Car buyers use the Internet to research their new vehicle purchase
J.D. Power and Associates 2012 New Autoshopper StudySM October 1, 2012
79%Use a Smartphone20%Use a Tablet18%
Build/Manage Your Online Presence
Provide an Exceptional Customer Experience
Develop a Plan For Success
Why You Need A Strategy…
Best Practices
• Understand the customer profile & vehicle requirements
• Personalize communication with the customer
• Ask the customer how and when they would like to be contacted
14
The Outcome of Trust
Gross Follows Volume…
Additional Profit Centers
Manufacturer Incentives
Stair Step Allocation
Be sure to visit TrueCar.com/Dealer for more information and updates.
THANKYOU
CONTACT TRUECAR
[email protected]/Dealer
120 BroadwaySanta Monica, CA