Digital retailing is all the rage in the automotive industry these days. From conference speaker sessions to podcasts and automotive blog posts, digital retailing is a hot topic. Vendors such as Dealer eProcess have built tools to cater to this demand from both dealers and auto shoppers alike.
Digital retailing can vary in form and complexity, but at its core it is the process of allowing customers to save time while completing historically in-store processes online using a dealer’s website. Dealer eProcess’ proprietary digital retailing solution is named SARA and stands for Smart Automotive Retailing Assistant. SARA guides the customer step-by-step throughout the various parts of the deal to arrive at their personalized payment. SARA is a three-in-one platform as it includes a trade-in tool (using KBB, BlackBook or NADA book – dealer’s choice), a real-time soft credit pull, and the digital retailing tool, as well. Not only does it save the customer upwards of three hours which they would otherwise have had to spend in the dealership, but it also generates a large number of high-quality leads. The results speak for themselves.
Within a 60 day time frame, this dealership generated 214 SARA leads. These leads represented a massive increase in incremental lead generation, and was the number one lead generator on this dealer’s site; followed closely by the stand-alone trade-in application. Fortunately, this dealer is also taking advantage of Dealer eProcess’ industry-leading DMS attribution system, CARoi. CARoi is able to match website lead activity to deals recorded in the DMS. Over the past 60 days, this dealer was able to close 47 of the 214 digital retail leads that were generated, resulting in a 22% close rate. SARA has instantly provided a strong ROI for this dealership.
It is important to note that not all digital retailing tools are created equal. Many do not include real-time soft pulls and therefore rely on customers to input their credit score manually, often resulting in inaccurate payments that leave both the customer and the dealer frustrated when the customer arrives in store. Many still do not allow the dealer to select from all three books for the trade-in evaluation, and Dealer eProcess is the only one that integrates with DMS to match sales data to leads data to show true CARoi. Make sure you partner with the right vendor!