Andre-Martin Hobbs, Partner at DecisioningIT: In this video segment, Lissette Gole tells us that a lot of shoppers move fully online: In 2018, 1% of vehicles were sold completely through online retailing. In 2020, that number increased to 10%.
I believe the same will be true for F&I managers. Customers will also want reassurance about the products they select and the financing options available to them.
However, I believe that the roles of salespeople and F&I managers will merge, providing consumers with a one-stop shopping experience. With the appropriate technological stack, dealers will be able to service consumers the way they want: one dealership representative should have all the answers (product or finance), and assist them on their online or in-store buying experience.
Excerpt from Lissette Gole’s CBT video interview on CBT News.
In 2018, 1% of vehicles were sold completely through online retailing. In 2020, that number increased to 10%. Search trends have increased over the last 18 months, with a peak in April, and have since remained higher and steady than any year prior.
Gole says she recognizes today that a lot of consumers want to have an omnichannel or hybrid experience. She sees a lot of shoppers move fully online, with expectations constantly changing. Gole says instead of moving into the why start looking at the how.
Online retailing is broken into three key areas: media, user experience, and data and technology. Gole recommends auditing your mobile website. Access your mobile site’s load time. Data shows if your website is loading for more than 4 seconds, you’re losing 40% of your shoppers. She says, it’s not an easy process, but it’s worth it in the end.
There is still a role for the salesperson says, Gole. Customers still want to be able to pick up the phone and get reassurance. While these transactions are happening online, she says we still need that concierge service.
