winning the online shopper with new car incenves · google’s key automove micro moments...
TRANSCRIPT
WinningtheOnlineShopperwithNewCarIncen5ves
VincentDuoto,Na.onalAccountsExecu.ve
AudiencePar.cipa.on
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Today’sAgenda
• Incen.vesIntheMarket
• Google’sAutomo.veMicro-Moments
• StepstoIncen.vizingInventory
• Incen.veTools
• Q&A
Incen.vesOnTheRise
2016inreviewAverageincen5vespending• $3,766perunit• Up22.6%over2015Full-yearincen5vespending• $3,348perunit• up14.5%versus2015
MarketTrends
AccordingtoStevenSzakaly,chiefeconomistatNADA,"New-carshopperscanexpectayearwithslightlyhigherinterestratesonautoloans,butthoseincreaseswilllikelybeoffsetby
risingautomakerincen5ves.”
InFebruary2017,incen.vesreachedjustover10%oftheMSRP.
Thehighestsince2009.
Incen.vesBuildTrust
● Shoppersvalueaperceiveddeal.● Shoppersvaluetrust.
Incen.vesBuildTrust
Google’sKeyAutomo5veMicroMomentsWheredoincen.vesfitin?
Google’sKeyAutomo.veMicroMoments
Micro-Moment#1–WhichCarisBestforMe?
Consumersoienturntodigitalavenuestobegintheirautoresearch.69%ofpeoplewhouseYouTubewhilebuyingacarareinfluencedbyit.*
Areyoucrea.ngvideosforyourinventory?
IsyourinventoryonYouTube?
*Source: Think With Google Study, 2016
Google’sKeyAutomo.veMicroMoments
Micro-Moment#2–IsItRightforMe?
Duringthecarbuyingjourney,shopperswillask:willthisfitmyneedsandlifestyle?Timespentwatchingautovideosincreasednearly2XYoY.Searchinterestforcartrunkspaceandtowingcapacityincreasedby15%and30%respec.vely,YoY.*
*Source: Think With Google Study, 2016
Google’sKeyAutomo.veMicroMoments
Micro-Moment#3–CanIAffordIt? SearchinterestforcarMSRPandlistpricesisatitshighestlevelEVER,growing25%YoY,driveninlargepartbymobile,which
accountsfor70%ofthesesearches.*
*Source: Think With Google Study, 2016
PollQues.on
A. 25%B. 50%C. 75%D. AllofthemE. None/NotSure
Howmanyofyourvehiclesshowonlineincen5vesand/orrebateop5onstotheshopper?
Google’sKeyAutomo.veMicroMoments
Micro-Moment#4–WhereShouldIBuy?
Althoughmuchofthecarpurchasejourneyhasmovedonline,consumerss.llneedtofindadealership.Searchinterestfor“cardealershipsnearme”doubledYoY.*1in3carshopperswhousetheirmobiledevicesaspartofthecarpurchaseprocess,locateorcalladealerontheirmobiledevice.
*Source: Think With Google Study, 2016
Google’sKeyAutomo.veMicroMoments
Micro-Moment#5–AmIGeWngaDeal?
Today,halfofallcarshopperswithmobiledevicesusetheirsmartphoneswhileatthedealership.Thetopac.onpeopleperformwiththeirphonewhileonthedealershiplotisconfirmingtheyaregerngagoodpriceonavehicle.*
*Source: Think With Google Study, 2016
40%ofGoogleMicro-MomentsBelongtoPricing!
Source: Google
SimpleStepstoIncen5vizeYourInventory
K.U.B.E.S.KnowYourInventory
Whatvehiclesdoyouhaveinstock?Whichspecificvehiclesinstockareslowmovers?Whichspecificvehiclesarecos.ngyoumoney?Isyourinventorypricedcorrectly?
K.U.B.E.S.UnderstandYourMarket
Doyoucompletelyunderstandyourmarketandthesurroundingareas?Whoisyourcompe..on?Howareyougoingtogainmarketshare?Howareyougoingtomakethatextrasaleyoudidn’tgetlastmonth?Isyourinventorypricedcorrectly?
K.U.B.E.S.BeTransparent
Don’tconfusetheshopper.- Consumersareshopping3rdpartysitestoverifyyourpricingBecertainyourwebsiteand3rdpartysitesreflectthesameonlinepricing.BeclearinyourpricingBuildtrust.- Peoplebuyfromthosetheylikeandtrust.
K.U.B.E.S.BeTransparent
Asashopper,thiscanbeveryconfusing
PollQues.on
A. ShowingMSRPOnlineB. OfferingIncen.vePricingOnlineC. UsingIncen.vePricingToolD. AllofTheAboveE. NotSure
Whatareyoucurrentlydoingatyourdealershiptoensurepricetransparency?
K.U.B.E.S.EngageYourBuyer
Engagetheconsumersexis.ngknowledgeConsumersaresearching3rdpartysiteslikeEdmundsandKBBtoverifyincen.ves
Source: 2016 KBB Study
K.U.B.E.S.SimplifyYourPricingStrategy
PricingandIncen.vesToolsCreatePricingRulesAccessto95%+ofavailableincen.ves
K.U.B.E.S.
KnowyourinventoryUnderstandyourmarketBetransparentEngageyourbuyerwithknowledgeSimplifyyourpricingstrategy
AQuickPeekIntoanIncen5vesPricingTool
NewCarIncen.vesTools
MarketPricing
LiveUpdates
DetermineProfit
ViewAllAvailableIncen5ves
SetRules
NewCarIncen.vesTools
SimpleRuleCrea5on!
● DetermineStart/EndDates
● QuicklyViewAllApplicableVehicles
NewCarIncen.vesTools
Eliminatepricingguesswork,andstartpricingforprofitability!
Instant Views Simple “Select and
Apply” Automatic Updates from Data Partners
Ensure Consistency Alerts for New R & I
Know Competition New Market Listings
Win the Sale
FinalPoints…“71%ofcarbuyerssaylookingatpricingistheir#1ac9vitywhenresearchingonline.”-KBBStudy
Summary
40%ofGoogle’sKeyMicro-Momentsrelate
topricingK.U.B.E.S.
Incen5vesTools=AddedProfitability
Wintheonlineshopperbybuildingtrustandengagementwithincen5ves!
THANKYOU
QUESTIONS?
Sources
hvps://www.thinkwithgoogle.com/infographics/key-auto-micro-moments-mobile-trends.htmlhvp://www.jdpower.com/press-releases/jd-power-and-lmc-automo.ve-forecast-february-2017NADAIncen.veData
