Women’s Wednesday #93: White Paper: Industry Guide to Sales & Retention

Posted: January 22, 2020 by Anne Fleming, Car Buying Advocate

Since 2015, women have purchased 38 million new cars for themselves at franchised auto dealerships.

As a leader, what steps are you taking to capture your share of this consumer? A resounding 46% of women nationally report that they visited an “average of 3.2 dealerships” when buying a car. This number is two times higher than the avg. 1.6 dealers the “average consumer” visits. These statistics indicate that dealers have a high tolerance for women walking out of their store.

As an industry we pay attention to Latinos, Millennials, and Gen Z. All are critical.

Did women get bypassed?

Or, are they still considered an adjunct buyer to men? As the company that harvests 400 deep data points on women’s predictive analytics, preferences, experiences and patterns BY BRAND and BY DEALER, we see there are many opportunities. The data is the secret weapon and where the magic happens. But it require new actions.

Download Report Here

In this 2020 white paper, gain insights to:

  • Explore your Upsell. You’re Selling Futures, Not just Cars
  • Create a Flight Plan for Retention and an Inspiring Customer EX
  • Shift the Face of the Front-line Team to Match your Marketplace
  • Manage New Advertising Messages that Speaks to and Engages these Customers
  • Bring Inclusiveness and Diversity into your Brand’s and Store’s Culture

Download Report Here

Connect with More Women Drivers:

Communicate tangible value-adds in your advertising.

If your store provides overnight loaner cars, include this in your messaging. It’s the #1 concierge item requested by women.

A confident, pleased buyer who writes a great review of her experience can influence countless other women to follow her lead.

Ask, track, and always respond to reviews.

Reviews are 3 times more influential than advertising when women buy a car.

Women want to read others’ experiences to help verify what dealerships to visit. Showcase these valuable testimonials on your home page or their own navigation section to build trust and credibility – don’t hide them in ‘About Us.’

One Size Does Not Fit All.

Step back and ask, who does your advertising really speak to?

Women are looking for connections with car dealerships.

Enhance your advertising by investing part of your ad dollars into what’s in it for her. Include dealer reviews and ‘Dealer of the Year’ awards. Remember to also sell your dealership, not only cars.

Never miss a simple action to upsell your store.

Offer a 3-minute tour, share about extended service center hours, mention that you offer overnight loaner cars, and give a free car wash coupon. Always look to surprise and delight.

Develop relationships with online guests.

Provide informative, helpful content in your BDC email response as well as link to reviews highlighting authentic consumer experiences.

76% of women rated their dealership’s website 3 out of 5 stars.

As the first point of engagement for customers, be sure your website represents your brand well, conveys trust, is welcoming, and contains educational content that adds value.

The #1 digital resource women use when buying a car is the dealership’s website.

Include images of women throughout your digital assets and online marketing campaigns.

It takes more than having a female spokesperson to market to women.

The #1 reason women choose to buy is TRUST which requires implementing new behaviors, attitudes, processes, and messaging.

Make your dealerships a welcome destination for all customers.

Always greet your customer through active listening, use empathy and understanding, and taking an interest in what they need or want – even if it’s outside the car purchase.

Include informative, engaging content on your website.

It helps build trust and ensures guests get value from your brand.

Behavior Economics demands tracking when your customers fall off.

Dealers with outdated behaviors and attitudes are losing traction with women in this competitive industry.

Measure and track the number of women leads and buyers each month.

You can’t grow what you don’t know.

Create the right conditions for the sale on the first visit.

Ask questions, listen, and get to know the customer. Never interrupt and don’t assume. Consider there won’t be a second visit.

Dealers need to shift the paradigm to effectively engage, market and optimize sales to women.

What is your Trust Dashboard with this market?

53% of millennial car buyers are women. Almost 4 in 10 women are the breadwinners in their family.

How is your current and future customer demographic represented in your front line team?

Crack the code by turning reviews into real-time data to make yours the go-to store.

Our platform collects unprecedented pre- and post-purchase analytics about what your #1 buyers want and prefer from participating dealers.

Transform your messaging and make the showroom more customer-centric.

92% of reviewers choose to opt into a 25-question survey summarizing their visit. This unbiased data is available in predictive analytics WSI (R) Dealer Data reports chronicling what these buyers want and experience.

Game-Changing Predictive Analytics.

What women want at the dealership has predominantly been an absent dialog; those statistics and conversations have generally been national. Dealers now have access to their own proprietary data through our platform. This provides leaders at each business the ability to have honest insights allowing for predictive awareness of behaviors, preferences, and experiences.