How To Sell Cars Online or Offline (PART 10)
TRANSCRIPT: Right now, dealers have the clear advantage over Carvana and the others. You really do. You already have the facilities. You already have the service business which means you can take less if you need to. If it’s a long-term fight, if you hit a recession, you can blow those Carvanas right out of the water because you’ve got fixed ops profits and you’ve got the name recognition. You have the advantage over the Carvanas. The flattening market that we’re in right now, this is not a sky-is-falling moment but it is time to create that better buying experience and to become known for creating a better buying experience.
Today, 80% of your UPs don’t buy from you if you’re running a traditional road to the sale. Let me say that again. If you are a traditional dealer running a traditional road to the sale, 80% of the people who show up on your lot as a traditional UP, they don’t buy from you. The average dealer closes only 20% of their traditional UPs. Four out of five of these people are leaving but we know that buyers visit just 1.6 lots on average. Did your experience, did that encourage them to buy at the next place or did it encourage them to hold off completely?
It’s time to stop letting the Carvanas of the world define you. If you want to learn how easy it is to create a great customer experience in sales and service, we could do a whole 90 minutes on that. In fact, we did. We have an 11-part video series on stevestauning.com. Check it out. When you go to stevestauning.com, scroll down on the right, full series videos, you’ll see the customer experience. It’s a free video series to watch. The only reason I’m pointing it out now is because we don’t have time to go through all this. If you’ll bookmark that, if you’ll write it down, if you have your team watch it, you’ll learn the secrets the companies that Chick-fil-A and Disney are employing right now to easily create a great customer experience every time.