How To Sell Cars Online or Offline (PART 24)
TRANSCRIPT: We need a broad strategy because there is no one size fits all. That’s one of the many things, by the way, that Beepi didn’t understand. That’s something that CarMax and Carvana don’t quite understand today. I can’t do any of the deal at CarMax as of this webcast online. They make me come to the store. Carvana, I can’t go to a lot and search through 500 pieces of inventory, can I? They don’t quite understand it’s a broad strategy. We can’t just be in one little corner, either 100% offline or 100% online. A broad strategy of online plus offline plus hybrid allows us to be flexible as consumers change.
We’ve covered 100% offline and we’ve covered 100% online. When we look at the online/offline hybrid, there are really two paths. I want to be clear on this because some people think it’s only online to offline. That’s the path we think about with the hybrid, online to offline. I start online on your website. I finish offline in the dealership but guess what. There’s also, if you’re doing hybrid sales right, there’s offline to online. That’s where I started in store but I finish it at home online.
“Steve, what in the world are you talking about? Offline to online? What the heck?” Yes. Let me be clear. When you embrace the idea that your online and your offline are one and the same, then deals can flow both ways. Here’s a quick example. A traditional UP shows up. They select a product. They test drive but we failed to get him back in to finish the paperwork. He had to go, whatever. Whatever reason, he took his lunch break. He really had to go. Right now, he’s a be back, isn’t he? We know, most of you don’t get your be backs in because most of you don’t make any be back calls.
What if the rep emailed the be back a link, back to the exact point where the deal was left and a customer can finish the deal at home? “But Steve, won’t the be back shop us elsewhere?” Yes. What the heck do you think’s happening today? Buyers visit 1.6 lots. You’ve just created a great offline experience that you’ve continued online. How will this compare to the next place he goes? You’ve already sent him a link. He said he had to leave. Rep got his email, said, “Hey, let me send you a link to where you left off. You can finish the paperwork at home.” How does that compare when he steps onto the old school lot next? Don’t fear transparency, own it. Get out ahead of transparency.