Purchasing a car can be an intimidating and frustrating process for the car buyer. According to the 2018 Cox Automotive Car Buyer Journey, 1 in 6 buyers will not purchase from the first dealership they visit simply because of a poor sales experience. An inherently complex sales process that includes test drives, trade-in appraisals, deal term negotiations , F&I, and vehicle delivery creates opportunities for your staff to either delight or lose a buyer.
Missing cars and lost sales
One of the biggest annoyances for buyers is wasted time. Armed with mobile devices, social networking, and endless information at their fingertips, buyers have come to demand speed, convenience, and control in the course of all their purchases. Research by The Rikess Group determined that one of the biggest time wasters happens at the beginning of the sales process—the test-drive. Sales personnel spend on average 15 minutes just locating keys and cars!
What if you could kick-off the sales process—right at the test drive—with an exceptional experience for your buyer? What if you could cut those 15 minutes down to 5 minutes or less? Would your buyer be more engaged and satisfied with the rest of the sales experience? You bet they would! What if your sales manager received an alert when a test-drive returns to the lot and is waiting to greet your customer when they return? That’s hands-on service and more time saved for your buyer!
So, how do you make this happen? Intelligent Inventory. Intelligent Inventory leverages advancements in Internet of Things technology to equip your vehicles with the ability to communicate useful data—like their locations—in real-time. Sales people can make buyer-requested vehicles available for test drives within minutes of a request, making the best use of everybody’s time. Managers can receive alerts when a test drive car returns to the lot so they can greet the customer and provide an extra level of attention that helps close the sale. You can even show the exact location of vehicles on your web site so buyers have the confidence that the car they’re interested in is physically on the lot!
Chris Moore, new car sales manager at Atlanta’s Hennessy Buick GMC, said this about the industry’s leading Intelligent Inventory solution from Cognosos, “RadioTrax saves our personnel 10 to 15 minutes per customer, greatly improving both the buying experience and our associates’ efficiency. When someone wants to test drive a car they saw on our website, we can pull it up to the show room door almost instantly – regardless of where it currently is within our seven lots.”
Wow! That is an amazing transformation! And Intelligent Inventory can do so much more, like improve used car profitability, analyze test drive data, and increase the efficiency of inventory reconciliation.
RadioTrax inventory management solution
RadioTrax—the complete IoT Inventory management solution from Cognosos—is the smarter more productive way to run your company. By connecting your inventory and providing real-time movements, RadioTrax empowers your team with the tools to provide seamless customer experiences, increase sales, and optimize operations.