How Innovative Technology is Improving Auto Dealership Marketing
Auto Dealership Marketing
Converting sales as a car dealership goes much further than having valuable deals with quality cars, although this does help attract consumer interest. The holistic sales experience plays a large role in the overall sales process as well, which varies greatly from dealership to dealership. Enhancing the sales experience, therefore, should be part of auto a dealership’s overall marketing strategy. In this regard, let’s discuss how innovative technology is improving auto dealership marketing.
Meeting Rising Consumer Expectations
Auto dealerships, like most other industries, are trying to keep pace with rising customer expectations, which are quickly changing in our rapidly advancing technological world. Cloud and mobile computing technologies are changing the way consumers shop and interact with businesses and society. Basically, digital marketing strategies are the new trend for businesses, in their efforts to stay visible and capitalize on the large increase in online spending.
What this means for auto dealerships is consumers are less willing to endure long financing processes. This process begins when they’re shopping for the vehicles online, which is where most consumers are looking for their next new or used vehicle. If consumers aren’t engaged immediately when shopping online, generally, they’ll move on to another dealership that does engage them.
Optimizing the Sales Funnel and Engaging Online Shoppers
The entire sales funnel and financing process has to be optimized to meet rising customer expectations – especially with younger generations gaining a majority in the market. The typical pain points involved in buying a car at a dealership need to be eliminated, or massive amounts of sales will be lost – not because of the quality and value of the inventory, but because of the fickle nature of modern consumers.
Innovative technology is the answer for auto dealerships to eliminate these pain points; with big data automation using cloud and mobile computing technology, dealerships can engage consumers online and capture sales leads with streamlined processes. Specifically, CreditPlus from eLEND Solutions allows consumers to instantly get credit approval and upfront access to near-final approved finance terms – from the dealership’s preferred lender programs and managed controls.
CreditPlus is part of eLEND Solutions’ SaaS, designed for auto dealerships to streamline the financing process online or in-store. With this innovative technological solution, digital marketing efforts will be optimized to capture more leads. Using automation with a decision sales engine, in-store financial applications are eliminated and only pre-approved leads are pursued. This drastically improves online sales funnels and creates efficiency with in-store financing processes, leading to less redundancy and improved customer satisfaction.
Competitive Marketing Strategy and Increased Referrals
Auto dealerships that use innovative technology to streamline their financing processes, naturally, are enhancing their marketing strategy. Eliminating common pain points for consumers and sales teams, creates customer satisfaction and leads to referrals. Consumers will appreciate the streamlined and convenient financing process using innovative technology, leading to referrals and loyal long-term customers.
Dealerships will also gain a competitive edge with eLEND Solutions’ other innovative solutions: ID Drive™ and MobiLot™, which give sales teams even more tools to streamline and manage the financing process — using cloud and mobile computing technology. These tools will accelerate the identification process in-store, automate the application process, and expand sales teams’ capabilities remotely 24/7.
Changing customer behavior, rapidly advancing technologies, and an ever-increasing regulatory environment – are all challenges that auto dealerships are facing today. Like other industries, their marketing strategies are evolving to meet these challenges; innovative technologies (like eLEND Solutions offers) are solving common pain points in the financing process and optimizing their marketing potential.
Consumers, sales teams, financial partners, and everyone else involved, benefits when processes are streamlined and made efficient. Buying and shopping for a new or used car should be a pleasant and fun experience, rather than a time-consuming headache; with eLEND Solutions’ innovative technology, auto dealerships can make this ideal come true. Please contact us today to learn more.
Author: Pete Maclnnis
Author Bio: Pete brings over 37 years of experience in automotive finance and technology as Founder and CEO of eLEND Solutions™. Founded in 2003 as DealerCentric, eLEND Solutions™ is an automotive FinTech company specializing in online and in-store digital credit, identity and finance solutions designed to create a more efficient and profitable vehicle purchase process for the retail automotive industry.