The auto industry is constantly changing, and auto dealers must be prepared for the latest trends to stay competitive. In 2023, there are many trends that auto dealers should be on the lookout for, including:
• The rise of online car sales
• The growing popularity of electric vehicles
• The increasing importance of customer experience
• The need for data-driven decision making
The Rise of Online Car Sales
More and more consumers are buying cars online, and this trend will only continue in the future. A recent study by Google indicates that 95% of vehicle buyers use digital as a source of information. Twice as many start their research online versus at a dealer. And according to Cox Automotive found that 40% of car buyers will purchase their next car online. This means that auto dealers who want to stay competitive must have a solid online presence.
There are several things that auto dealers can do to improve their online presence, including:
• Having a well-designed website that is easy to navigate
• Offering online financing options
• Providing a robust online sales process
• Investing in search engine optimization (SEO)
The Growing Popularity of Electric Vehicles
Electric vehicles are becoming increasingly popular, a trend for which auto dealers must be prepared. A recent study by the Pew Research Center found that 63% of Americans are at least somewhat interested in buying an electric vehicle. This means that auto dealers need to ensure they have a good selection of electric cars on their lot and be able to educate customers about the benefits of electric vehicles.
There are several things that auto dealers can do to prepare for the growing popularity of electric vehicles, including:
• Offering test drives of electric vehicles
• Educating salespeople about electric vehicles
• Offering incentives for buying electric vehicles
The Increasing Importance of Customer Experience
In today’s competitive market, customer experience is more important than ever. As a result, dealers need to ensure they provide a positive and memorable customer experience, from when a customer walks into the dealership to when they drive away in their new car.
There are several things that auto dealers can do to improve their customer experience, including:
• Making sure the dealership is clean and organized
• Staffing the dealership with friendly and knowledgeable salespeople
• Offering a variety of financing options
• Providing a hassle-free return policy
The Need for Data-Driven Decision Making
To be successful, dealers need to be able to make data-driven decisions. They need to collect data about their customers, their sales, and their marketing campaigns, and they need to use this data to make better decisions about how to run their business.
There are several things that auto dealers can do to collect data, including:
• Tracking website traffic
• Tracking sales leads
• Tracking customer satisfaction surveys
• Using Social media analytics
Once dealers have collected data, they need to be able to analyze it and use it to make better decisions. There are several tools that dealers can use to analyze data, including:
• Data visualization tools
• Statistical analysis tools
• Predictive analytics tools
By following these trends and taking these steps, auto dealers can position themselves for success in the future.
Auto dealers must be prepared for several trends, including the rise of online car sales, the growing popularity of electric vehicles, the increasing importance of customer experience, and the need for data-driven decision-making. Get MyAuto’s end-to-end dealer management, and marketing system can help dealers stay ahead of the curve and succeed in this ever-changing industry.
Get My Auto is the leading end-to-end dealer management and marketing system. Our system can help you with everything from managing your inventory to marketing your dealership. Contact us today or schedule a 7-minute demo to learn how to Get My Auto can help you succeed in 2023 and beyond.