What are the significant ways the online car retailing landscape are changing? We walk you through the basics in this week’s Wednesday Workshop.
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Transcript Below
Welcome back to another Wednesday Workshop from DealerOn, your experts in dealership digital marketing.
The online retailing landscape is constantly changing. If you don’t check up on it regularly, you could miss something important. This is especially true now, as the market adapts to new realities and customers adjust their expectations accordingly. Today we’re going over the major ways the landscape has recently changed.
Customers are more comfortable completing large amounts of the process online.
We’ve gone over this in the past, but it bears repeating. As the pandemic forced more dealerships to rely on their online platforms to move cars, customers found that they enjoyed the convenience. 10% of all new vehicles sold in 2020 were sold online! If your online presence isn’t optimized, you’re losing money.
In addition, most customers do more research before buying a car. It’s been a long term trend that customers look into make and model before setting foot inside a dealership. In the past two years, that number has increased to 62%
Price transparency is important.
Whether it’s due to concern about the economy, tightened budgets, or increased financial literacy, customers want to know what they’re paying for a car. More than the ultimate sticker price, a customer wants to know what they will per month, so they can understand in real terms how the purchase impacts their budget.
Price literacy is so important, that 81% of customers who had decided on make and model, had also decided on the price before speaking to anyone at a dealership. Most knew within $1000 dollars.
The landscape has changed on the tech side of things as well.
Google’s algorithm continues to evolve.
Google has changed a lot of their algorithm to look at what are called Core Web Vitals. We discuss this in detail elsewhere, but the short version is that much of your SEO will be determined by how quickly your site loads and is clickable by a visitor.
Third party cookies are a thing of the past.
Addressing privacy concerns by the public and numerous relevant laws in statehouses across the country, Google has gotten rid of third party cookies. And sorry for sounding like a broken record, but we’ve gone over this in detail as well. What you need to know is that Google has a solution in place that they say is almost as good, but we have yet to see what the real effect will be.
DealerOn is keeping an eye on all of these changes and more. If you’re already a client of ours, don’t worry. We have it handled. If you’re concerned how these changes might impact your dealership, call us and schedule a consultation today. You’ll be happy you did.
That’s all the time we have for today’s workshop. As always, if you have any questions or comments, leave them below and we’ll get back to you as soon as we can. Thanks for watching. Schedule your free demo today at DealerOn.com.
