There’s a raging debate out there. Whether we believe it or not, we’re part of the debate and there’s no other option than to choose sides as the outlook for the future is changing rapidly and so is the automotive industry. Over the last couple of years, hybrid work models have become increasingly popular, not only thanks to the balance they can create in an employee’s work life, but also for how they can provide businesses an upper hand in multiple ways. However, it is really important to look at dealerships specifically and determine whether or not a hybrid work model can be efficient in such a setting. 

Without further ado,  let’s explore some of the ways car dealerships can adopt and implement a hybrid work model to simplify processes and improve their level of efficiency. 

Sales and customer service professionals

The personnel at a dealership includes a lot of sales and customer service professionals, as the main goal of a dealership is to execute sales. A hybrid model can perfectly align with the needs of sales and customer service representatives, given that the majority of their day-to-day involves dealing with customers via email and over the phone, answering inquiries or questions regarding specific vehicles. However, at the same time, they need to be present and available for on-site activities as well. To execute those tasks in the most efficient way, they should be given complete autonomy when it comes to setting up their schedule. A hybrid model is in fact a great way to establish the perfect balance between the two tasks. There’s no denying that sales and customer service reps have a tough job and a hybrid model will allow them to significantly improve their performance.

Another important factor to consider, is that a hybrid model can be amplified using virtual sales and consultations. Sales consultants can leverage technology to showcase vehicles virtually and even close deals. Of course, your team must be trained before this transition towards a hybrid model can be done successfully.

Marketing in the digital world

A dealership’s marketing team will work best within a hybrid model, since most of marketing these days is done through online means. The hybrid model allows the marketing team to work both remotely as well as in-person, depending on the setup of a dealership. However, traditional marketing is still relevant and shouldn’t be neglected. A hybrid model will work best for the marketing team at a dealership, as it allows the team to make the most of both traditional and digital marketing and combine them into one, winning approach.

Training and preparing for a hybrid model

However tempting it may be, the transition towards a hybrid model is no easy feat. The fact is you need to train your employees if you want to move forward with a hybrid model and be successful. All dealerships have various intricate nuances involved in their processes and it is always a good idea to empower employees with certifications and even agile methodologies. Together, with apt training and tests you’ll be able to see if the move towards a hybrid model can be achieved and whether it will be the right step for your business.

A hybrid model can bring various benefits for a car dealership. However, it is highly important that you focus towards creating an ecosystem that supports a healthier environment. This all starts with a positive approach and asking employees what you can do to move forward towards a hybrid model together to make the most of it.

The post Can Dealerships Benefit from Using Hybrid Work Models? appeared first on Modera.

Originally published in Swedbank’s private banking client magazine “Fookus”.

Looking to buy an electric car? The bold-lined sporty Chinese SUV Aiways U6 would be a trendy choice. Want to go for a test drive? Sure! Just schedule a time at Euronics and the car will be prepped and ready for you. Enjoyed the ride? Great! Get all the necessary steps of the purchase process done on the manufacturer’s website and the car will be delivered to your doorstep.

At first glance, the above story seems to be a bit off, to put it mildly. But this is actually already the reality in Germany, as this is exactly how this specific Chinese car can be purchased over there. And there’s certainly no shortage of interest since one Euronics store sees around 40 test drives a week. 

According to the French consulting company Inovev, the percentage of Chinese electric vehicles in European new electric car sales will grow from the current 6% to a couple dozen percent by 2030. That’s about a million cars per year. 

Changes in the sales model and Chinese car brands are some of the biggest new trends in the European car market. This time, Raido Toonekurg, the chairman of the board of automotive software company Modera, will share his expert opinion on what the European car market has got coming in the next few years. 

Here come the electric vehicles

There’s no turning back when it comes to the rule of electric vehicles. This trend is led by a combination of factors. Firstly, a change in people’s thought patterns where an environmentally friendly car is now a conscious choice. Secondly, the rules and regulations set forth by legislators, and thirdly the decisions of car manufacturers. 

The European Union’s decision to only allow the sale of cars and vans that create zero CO₂ emissions from 2035 is both a clear sign and an assurance to manufacturers as to where to direct their focus from hereon.  

The permission to sell new cars with an internal combustion engine after 2030 does however leave the door open in case not enough lithium needed for batteries can be mined by then, but this does not affect the trend. 

According to Raido, big manufacturers have taken a clear direction towards electric vehicles, and they’re ambitions are great. 

Volkswagen Group, which includes Volkswagen, Audi, Škoda, Seat, Porche and many others and sold a quarter of all the new cars in Europe, has promised that by 2030, 70% of all the cars they sell are electric vehicles. Stellantis, which includes Peugeot, Fiat, Citroën, Opel, Jeep, DS, Lancia and Alfa Romeo and owns about a fifth of the market, is aiming to reach a full 100% by the same time – an ambition shared by the Renault Group with a 10% market share. 

Currently, manufacturers are actively trying to turn their entire selection electric. Raido is certain that this will be achieved within the next two to three years. 

Chinese electric vehicles – a rising trend

Last year, the most sold models of electric vehicles in Europe were Tesla Model Y and Model 3 with a combined market share of 8%. There really are no outstanding leaders on the market at this point. 

On a global scale, Chinese manufacturers have taken a solid lead. Chinese BYD Auto sold over 1.8 million electric vehicles last year and is a clear global leader with a 20% market share. You should memorize the names of their three most popular models Song, Qin and Han, as BYD is looking to bring these models to the European market this year. According to Raido, Chinese electric vehicle manufacturers have finally gotten over the hump, making the increase of their models in the European market one of the biggest trends. 

The selling points are strong. High quality when it comes to both durability and driving range, as well as appearance and the design of the salon. Of course we can’t forget the price as Chinese cars tend to be cheaper especially in the more low-cost price range. At the same time, a Chinese car falling in the average car price range in Europe, usually comes with several premium-class features. 

Although, thus far, the most sold electric vehicles in Europe belonged to Chinese companies, but were initially under European brands such as MG and Polestar as well ask Lynk & Co, now more and more fully Chinese brands like Aiways, NIO, XPeng, BYD and others are finding their footing on the market. 

The consulting firm Inovev believes that it’s quite a conservative expectation that in seven years every fifth electric vehicle sold in Europe will be by a Chinese brand. 

Car from the web and straight from the manufacturer

The rise of Chinese electric vehicles will also change the traditional sales model. Carlos Tavares, the head of Stellantis, has said that if European manufacturers want to stay in competition, they need to find ways to cut costs. One way is to reduce the share of the price given to resellers.

An upcoming trend is buying cars straight from the manufacturers. In Sweden, Mercedes has already started with this model and many other European countries are following their lead. For example, the same decision has been made by BMW and Stellantis Group. Resellers will enjoy the pleasure of organizing test drives along with some compensation, but the buying and selling will happen between the manufacturer and the consumer. 

Some Chinese brands who don’t have an effective cooperation agreement with European resellers are trying out new ways of selling. This is where the story described at the beginning of this article falls under – customers looking to buy an Aiways car can take a test drive at an Euronics store in Germany. 

Although 40 test drives a week per store is not a small number, in the end, what counts is still how many of those drives turn into actual purchases. It would probably be naive to expect a strong reseller-type sales approach from Euronics. Since it’s yet to be determined how significant of a role reseller’s marketing approach plays in finalizing a sale, companies like Toyota, Kia and Renault are still continuing with their existing sales model for now. 

From a buyer’s perspective, it really doesn’t matter whether they’re checking out their choices on the manufacturer’s or reseller’s website and who they end up finalizing the deal with. As a trend however, it’s worth mentioning that the entire car buying process from picking out the model and putting together the ideal fit, to finalizing the leasing and buying contracts, will become increasingly more digital. 

Decreasing importance of owning a car

The time when a kid would work and save money to make their dream of owning a car a reality, is now in the past. Owning a car, or really anything material is not as important to young people anymore and their focus has shifted on being more environmentally friendly. At the same time, the actual need for a personal car is also declining.

A short term rental is easy and becoming even more simple. Numerous car rental companies are making it very convenient to rent a car. Some companies can even deliver the rental car at your doorstep by managing it remotely. These fast developing solutions are also reducing the need for a second or third family car. 

There’s an increasing selection of 4‒6 month rentals. For example, Modera, whose system includes various car sellers, is currently developing an easy solution to rent a car for a few months. 

Delivery service keeps evolving. We’ll see an increasing number of cars that are bringing things right to our doorstep. 

Raido Toonekurg believes that these trends will not drastically reduce the need for new cars however, at least not on a global scale. Big countries such as China and India are just getting started with owning their cars and driving. 

When will we see self-driving cars?

There’s been a lot of talk about self-driving cars, but at one of the most influential technology exhibitions CES, held at the beginning of the year in the USA, big car manufacturers shared a clear message that no great breakthroughs are expected in that area in the next few years. At this time, everyone’s focused on developing electric vehicles and changing their sales models. Autonomous vehicles will evolve where they’re used in a limited area and on specific trajectories. 

On a higher level, where artificial intelligence is driving a car in general traffic without the need for human interaction, there are still many unanswered questions even outside the technology. For example, a programmer would have to install the right choice in the artificial brain in a situation where, in case of an inevitable accident, the car would either hit an 8 year old kid or an 80 year old person. Who’s going to make this decision? Who’s going to be responsible for the end result in that case – would it be the manufacturer? Manufacturers are not eagerly rushing into situations full of potential lawsuits and court cases. 

Exceptional infotainment

Let’s end on a lighter note however. Thus far, trying to navigate the touch screen of a car has proven to be much less enjoyable than tapping away on your smartphone. Luckily, there’s reason to believe this is about to change. Finally, car manufacturers have started to focus more on making the info and entertainment systems in the cars easier and more intuitive. 

What’s going to happen with the prices? 

Currently, the price difference between electric vehicles and cars with internal combustion engines is the smallest in the premium-class car range. As a trend, we can see that prices are becoming more uniform in all classes. On one hand, cheaper electric vehicles are entering the market, while on the other hand, the price for petrol cars is on the rise. 

One of the reasons for such increase in pricing are the taxes set forth by governments on cars producing CO₂ emissions. The leasing percentage and insurance payment will also become more dependent on the size of the carbon footprint of the car and the loan applicant. 

The sale of new electric vehicles in the European Union

The light blue bar shows the share of cars running on different types of fuel in new vehicle sales in 2021 and the dark blue bar in 2022. The orange bar shows the percentage increase or decrease in the share compared to 2021. The share of electric cars increased the most and the share of diesel cars decreased.

Electric car sales by country

While electric cars made up 3,4% (731 cars) of all new car sales in Estonia last year, in Norway, it was a whopping 79,3% (138 207 cars). The biggest electric car markets in Europe are Germany (471 394 new electric vehicles sold last year), the UK (267 203) and France (203 122). 

The post New Trends in the Car Market appeared first on Modera.

Unfortunately, there is no fixed formula as to what makes a car dealership successful nowadays. With trends and dynamics in the industry changing at a fast pace, old methods are simply not working, so car dealers have to come up with new strategies to ensure the bottom line isn’t hampered.

This time we’re going over the various ways in which you can make sure you’re setting your dealership up for success. From creating a genuine connection with your customers and upgrading the buying process to staying on top of your sales pipeline and team’s productivity, there’s a lot to focus on. Here are the nine most important ways to make your dealership a success.

1. Connect with customers

It is tougher than it sounds! The dealership personnel must retain customers, focus on building strong relationships with them, and ensure they come back for more. Connecting with customers can be done either virtually or in-person. It’s important to show empathy, listen to what they want, offer exceptional customer service, and incorporate a personal touch.

2. Track the sales pipeline

Using a high-quality CRM (customer relationship management) software, all information about sales and prospects can be compiled into one place – it brings transparency to the sales pipeline. Managers can check sales forecasts and track if the actual numbers match predictions. If something doesn’t add up, swift action can be taken accordingly.

3. Ensure the car buying experience is modernized

Time to go hybrid – a seamless blend of offline and online marketing to engage with customers is a must. With the aid of automotive CRM software, customers can begin their car buying journey online, and close the final deal in the facility.

4. Optimize your online presence

Since a large part of the customer journey starts online, make sure your dealership has a visible online presence. An easy-to-navigate website filled with updated information regarding vehicle makes and models, after-sales service, and so on, is necessary. The website should convince your prospects about how your dealership is different from others, and what you can do for them.

5. Sell vehicles, parts, and services online

Simply advertising your vehicles digitally won’t work any longer (as mentioned above, both online and offline are vital). You must create a multi-channel strategy to sell car parts, accessories, and manage service department appointments.

6. Come up with attractive offers

It won’t be possible to create customized offers for every vehicle that is sold. That is why you have to identify patterns in the needs and wants of every segment, in order to customize offers. Automotive CRM software can help to get better insights into the requirements of individual customer segments, so you can come up with lucrative offers.

7. Monitor employee productivity

Keep track of employee productivity, regardless of the department they are in. With features such as call recording, live monitoring, and analytics, managers can use CRM software to understand what employees are doing to increase sales. Processes can be refined to make employees more productive and contribute to the dealership’s business goals.

8. Follow-up properly

Dealerships also earn revenue from vehicle servicing, upselling, cross selling, renewing insurance policies, etc. The important aspect is to follow-up, which can be effectively achieved with CRM software. It lets you set reminders to follow up with prospects for sales calls. Processes can be refined to make employees more productive and contribute to the dealership’s business goals.

9. Understand what type of advertising is working for you

Knowing the broader demographics of your dealership’s market is necessary, but you also have to know who most of your customers are. It gives you an idea how to target them in marketing efforts. In fact, it is imperative to take a peek at the type of advertising you are involved in. Be it TV, radio, print ads, pay-per-click advertising, Facebook ads – a decent return on your investment is a must. Otherwise, you’ll find yourself sitting down and reworking your ad strategy.

These pointers will work wonders in helping your car dealership take off. Of course, investing in a good automotive CRM software is an excellent idea – it can streamline the operations of the entire dealership, and make your job a lot easier. SO make sure you do your research and implement a high-quality user-friendly CRM system like Modera’s.

The post 9 Tips to Make Your Dealership Successful appeared first on Modera.

Are you a car dealership looking to improve customer service game? If so, then you’re in the right place. Every customer experience is an opportunity to make a lasting impression and establish a loyal customer base. This, in turn, will help boost your business.

Delivering an exceptional experience is no small feat, and one of the key components is providing stellar customer service. Your team’s approach can determine if customers come back or not. But how can you ensure your car dealership’s customer service stands out? We’ve got some expert tips and tricks on how to improve dealership customer service!

Strategies for Building Customer Loyalty

Excellent customer service is essential for any car dealership. You want your customers to feel valued and appreciated. Once you establish that, you can be sure your customers will keep coming back.

There are several strategies that you can use to foster customer loyalty:

Rewards programs: Consider setting up a rewards program that incentivizes customers to spend more money at your dealership. This could be a loyalty program, where customers earn points with every purchase and can redeem them as discounts or other rewards.

Automated follow-ups: Automated follow-ups allow you to stay in touch with customers by sending them automated messages or emails after they make a purchase. This keeps your dealership at the top of their mind, while also making sure they have all the information they need regarding their purchase. Opt for a high-quality CRM system like Modera’s, to make sure none of these important check-ins are forgotten.

Personalized service: Offering personalized services it means you care about your customers’ experience and satisfaction. To enhance your personalized services, take the feedback from surveys and previous customers into consideration when changing your processes.  

1. Invest in Video Marketing

In the automotive industry, customers will inevitably have questions and concerns throughout the purchase process. This is the time when your team and stellar strategy come into play.

According to reports, 25% of these confusions can easily be resolved with the help of a video.

Your service departments could create videos which help to educate your customers about the different aspects of car dealerships, or different challenges customers might face throughout the process.

The best way is to create easily digestible video content and market it to your customers. This will also improve the overall customer satisfaction of your dealership.

Through video marketing, your team can educate your customers to cut down on partitions while explaining certain topics and improving profits and productivity all at the same time.

2. Simplify Your Sales Process

As much as buying a car is a fantastic experience, it’s also full of anxiety. To ease the stress, it’s your job to make the sales process as simple as possible. How? You first have to think like your customers. As a car buyer, there are a million things in your head. Consider questions like ‘what should be my budget?’, ‘which car is the perfect fit for me?’ etc. To lessen those worries, your sales processes need to be simple and easily understandable for your customers. First step of this is ensuring you have a high-quality and user friendly website.

You need to make sure that what your customer is seeing is worth their time. From the time  of identification to the moment of purchase, the entire journey needs to be as fast and straightforward as possible.

3. Provide Advice to your Customer

Providing advice to your customers is another way to improve dealership’s customer service. Most customers haven’t decided on what car they want to buy when visiting a dealership. Educating potential customers on the different cars you have available can go a long way to ease their anxiety. You have to share your opinion, because as an expert, your advice is worth considering for them.

4. Shorten the Sales Process

The majority of customers are not happy with a process that takes too long for them to get from point A to point B.

To improve your dealership customer service you have to do anything to shorten the sales process and provide exceptional value.

These are some ways to shorten the sale process

·       Online forms

·       Allowing customers to schedule test drives through an online channel

·       Having high-speed internet in your dealership

·       Using digital technology

Conclusion

As most car dealerships are moving online, the overall customer experience should not suffer, but better. Fact is, that if you don’t give your customers an easy, comfortable, and welcoming experience you’re bound to lose them. Providing extraordinary service is the best way to improve your customer retention. At the end of the day, the customer experience itself is what will determine the customer’s opinion of your dealership.

The post How can I improve the dealership’s customer service? appeared first on Modera.

It is faster and easier to get your existing customers to make another purchase and repeat purchases rather than find, attract, and convince new customers to make their new purchases. To understand how to draw your existing customers back and back again we have to understand the factors affecting customer retention.

Also getting a new customer, can be 25 times more expensive than keeping a current customer who already makes purchases from you.

1. Product Quality

Product quality refers to how well a product satisfies customer needs. If a Customer is satisfied with the product he will surely repeat the purchase rather than buy from someone else. While evaluating the product we have to consider several key factors including whether a product solves a problem, if it works as needed or if it fulfills customer needs.

Research conducted by Morgan Stanley showed 92% of Apple iPhone users eventually plan to upgrade to the new versions. This customer behavior is the main success of a companies with strong brands and quality products.
We can also take the example of Netflix, where 2/3 of its customers subscribed to the higher plan more than a year after their initial sign up. The common factor of success for those two companies is their high-quality and constantly improving product.

2. Offer Competitive Pricing and Discounts

It’s no secret that customers love shopping around for the best deal. By making sure your prices are competitive and/or you offer discounts, you can be sure that your customers will be coming back.

Offering competitive prices and giving attractive discounts comparatively to market trends is another key factor to attract old customers to buy again. Psychology wise – discounts always attract customers – that’s why this is one of best and most popular marketing strategies.

If you want to stay ahead of your competition, you have to work on competitive pricing and discounts. If your deal is better than the others, you have bigger chance to stay ahead of them.

To ensure you remain competitive, you can keep track of customer reviews and competitor data – and adjust your pricing accordingly. You should also consider loyalty programs and special offers for new and returning customers. That way they feel they’re getting a good deal while staying loyal to your business.

3. Convenience and fast deliveries

As we know the majority of today’s buyers want are looking quick and easy delivery options. They like having a range of options, including none other than free delivery or fast delivery respectively. The best way to meet this criteria is to back up or cooperate with multiple carriers.

Mind the following while considering the delivery options to offer.

• Partner with Local Service Providers
• Analyze the market options first to learn what delivery options your customers are more comfortable with.
• Use shipping tiers as an upselling opportunity
• Display available delivery options on product page
• Always Share the tracking code with your Customer so they have constant overview of delivery process.

4. Loyalty Perks

Loyalty programs are central to customer retention. 65% of consumers admitted to joining loyalty programs of the brands they like – so its time to start engaging with customers and reward them for returning. Continuous reward-systems that offer loyal and returning customer advantage over new customers, is something that can greatly increase your customer retention percentage.

While you can offer various discounts and gifts in your loyalty and retention program, it’s also worth adding exclusive perks, like early access for the loyal customers. Increasingly more customers expect early access to new products and personalized recommendations.

5. Dedicated Customer Service Team

Dedicated and personalized customer service can make or break the customer retention process. While most companies try to digitalize and automate customer service process, you can stand out and offer personalized human connection. Most customers are relieved when they contact a customer service and they hear human voice instead of robot.

Every customer service department needs to look at these main key factors.

• Provide Product Information
• Human connection is must
• Resolve any emerging problem
• Guiding them to their needs
• Handling complaints
• Friendly attitude
• Strong time management

Conclusion

In conclusion, if you want to retain your customers and build a strong relationship with them, you have to consider these 5 given factors.

The business must take care of customer’s needs, resolve any problem they are facing and guide them to the best possible solution. This kind of approach gives customers impression that they won’t forget and they gladly come back for another purchases in the future.

Customer retention is an outstanding investment that businesses can make for their long-term success.

The post What are the Five Factors of Customer Retention? appeared first on Modera.

Are you ready for a digital revolution?

In 2023, customers are expecting more from their dealership experience than ever before. They’re looking for a convenient and seamless online shopping journey that meets and exceeds their needs and requirements with quality products and services.

As a dealership, this shift in customer preferences is an opportunity for you to expand your reach and increase sales. But how exactly do you get there? Don’t worry – we’re here to help and find out what are the best e-commerce Practices for Dealerships in 2023.

In this article, we’ll share 7 best e-commerce practices that will help you keep up with the competition in the ever-evolving world of automotive retail in 2023. We’ll dive into the steps you can take now to prepare your dealership for success on the digital stage and make sure your customers have a great experience each time they shop. Let’s get started!

1. Setting Up an Easy and User-Friendly Online Shopping Experience

Creating a simple and convenient online shopping experience is a must in 2023. Customers want an e-commerce platform that is easy to use, provides helpful product information, and allows them to quickly and confidently purchase their car or other items. To meet customers’ expectations, dealerships should make sure they are streamlining their customer journey by ensuring their website is effectively optimized for mobile usage, facilitating payment options, and offering speedy delivery times.

To make sure your online store is up to par with rising customer demands, think about the user experience you’re providing. Investing in an e-commerce platform with well-crafted search options will help customers find what they’re looking for quickly and easily. Additionally, consider adding features such as product recommendations and wish lists as subtle reminders to potential buyers that could drive more sales. Finally, prioritize creating a clear checkout process by eliminating unnecessary steps from the checkout process like requiring an account setup before purchasing anything. Taking the time to ensure that your online store meets the needs of your customers can greatly increase customer satisfaction—and ultimately your sales in 2023!

2.  Offering Comprehensive Product Information

In 2023, customers expect more comprehensive product information. Giving potential buyers access to detailed descriptions and features of the products you offer will allow them to make an informed decision during their purchase journey.

Your website should provide your customers with accurate product images, sizing charts, safety advice, installation instructions, warranty information and more. This comprehensive product information is key for customer satisfaction and helps to reduce the amount of returns your business receives as a result of inaccurate expectations.

In addition to offering detailed product descriptions for each item you sell, you can also include customer reviews or rating systems on your website so that new customers can garner insight from others who had previously purchased the same item.

3. Incorporating Automation and Artificial Intelligence

These days, customers expect an out-of-this-world service experience when it comes to their dealerships in 2023, and that means incorporating automation and artificial intelligence (AI). Automation can save time for you and your customers, as it will do mundane customer service tasks for them while they shop. AI can offer personalized recommendations or conversations with a chatbot.

Automation

Automation is a great way to free up your customer’s time. Not only can you make sure that processes like shipping, billing and returns run more efficiently and quickly, but you can also automate parts of customer service like reservations, bookings, messaging and more.

Artificial Intelligence

AI is becoming essential for any e-commerce dealership in 2023. AI gives your customers the opportunity to enjoy personalized experiences on your website by providing them with relevant recommendations related to their shopping needs. For example, if they’re looking for a new car based on a certain budget or feature set, an AI chatbot can ask questions about their preferences and then recommend the perfect vehicle for them. AI can also be used to process customer inquiries quickly and accurately.

If you want to succeed in 2023 with your dealership, you need to make sure that your e-commerce practices incorporate automation and AI. Doing so will ensure that your customers have the best possible experience when they shop with you — making them more likely to come back for more!

4. Creating Tailored and Targeted Digital Advertising

When you’re thinking about what to focus on at your dealership in 2023, digital advertising should be a top priority. Digital advertising accounts for a significant percentage of the marketing budget for most dealerships, and you should use it to your advantage.

Creating tailored and targeted digital advertising campaigns allows you to reach customers with more specific messages at the right time. By acknowledging the needs and preferences of your customers, you can provide them with a more personalized buying experience.

Here are some things to consider when creating digital advertising campaigns

• Who is your target audience?
• What types of ads do they respond best to?
• Where will you post your ads?
• What kind of messaging will resonate with them?
• How often should you run your ads?

Once you’ve identified the key elements of successful campaigns, you can use this knowledge to create campaigns that reach the right people—and help boost sales in 2023.

5. Utilizing Data to Personalize Shopping Experiences

Data is key when it comes to personalizing shopping experiences. In 2023, customers are going to expect a highly customized and personalized shopping journey. To do this, you can collect data from customers to get an idea of their preferences and needs and then use it to create a tailored experience.

Using data can help you better understand your customer’s buying habits and use that information to target them with relevant offers that drive sales. For instance, you can:

• Analyze customer reviews to understand what customers really think about your dealership
• Monitor social media for customer feedback
• Utilize customer segmentation to better target each individual’s preferences
• Use AI-driven chatbots for personalized assistance during their shopping experience

 By leveraging the data that you have at your disposal, you can create more targeted campaigns that will resonate better with your customers in 2023. This will boost customer satisfaction and loyalty, as well as increase sales for your dealership.

6. Enhancing the Shipping Process with Logistics Solutions

Do you want to make sure your customers have a stellar e-commerce experience? Utilizing logistics solutions is the way to go.

Logistics solutions can help you in lots of ways—you can use them to track and monitor shipments, as well as get valuable data that can help you improve your overall customer experience. Plus, using a logistics solution helps ensure that orders arrive on time and intact, which is always a plus.

7. Logistics solutions can give you the edge over your competition in 2023 by:

• Giving customers visibility and control over their orders
• Automatically calculating the lowest shipping cost for each order
• Creating an easy-to-use return process
• Streamlining your entire order fulfilment process

• Incorporating third-party logistics services into your offering so that customers have more options for delivery
• Incorporating pick, pack and ship tools so you can quickly fulfil orders with minimal effort
• Implementing customer service channels for real-time support

7  Auto dealership car ideas to help your customers in 2023

So, what exactly do customers expect to see in 2023 when it comes to auto dealerships?

• Well, for starters, customers want convenience. To make their experience better, you need to offer a variety of services that make their lives easier. Here are seven ideas you should be implementing at your dealership in order to help your customers:
• Offer online vehicle research and buying. This means having a comprehensive online portal that allows customers to search for vehicles, compare prices and features, and buy the vehicle without ever stepping foot into the dealership.
• Give customers access to up-to-date inventory information. Customers want to be able to easily find the exact car they’re looking for without wasting time going from dealership to dealership. Online portals should include detailed information on each vehicle’s features and specifications.
• Allow customers to schedule service appointments online or through an app. This helps save time since they don’t need to call the dealership or show up in person in order to book an appointment.
• Offer financing options that are tailored specifically for each customer based on their credit history and other factors. This will give them more options and make it easier for them to find a loan that works best for their budget.
• Provide helpful resources like maintenance tips and owner’s manuals that are available online so customers can easily access them any time they want without having to come into the dealership or search through paper documents.
• Make sure your website is mobile-friendly so customers can access all of your services from their phone or tablet with ease wherever they are in the world!

Conclusion

The customers will be expecting dealerships to have a top-notch e-commerce presence. Take advantage of the seven best practices discussed here to make sure that you are providing the highest level of satisfaction for your customers. A well-rounded e-commerce presence will help you capitalize on the current shift towards online shopping and increase sales in 2023.

Whether you opt for an all-in-one package or customize your e-commerce platform to suit both your customers and your business, the key is to offer an experience that your customers can trust. So, make sure your website is optimized for mobile and keep an eye out for up-and-coming trends so that you can stay on top of the game. Take the extra steps and you’ll be sure to reach success in 2023 and beyond.

The post 7 Best E-commerce Practices for Dealerships that Customers Expect in 2023 appeared first on Modera.

In this automotive CRM case study, we find out how City Motors AS was able to increase the efficiency and revenue of their dealerships, whilst improving their customer experience.

Quick facts

• Client? City Motors AS
• What they do? Official representative of Renault, Dacia and Nissan in Estonia.
• Where? Estonia
• Range? 5 dealerships: Two in Harju County, one in Tartu, Narva and Kuressaare

Challenges faced by dealerships

Having been on the market for over 20 years as the official representative of Renault, Dacia and Nissan vehicles in Estonia, City Motors knew the importance of keeping up with current market trends and making sure their dealerships reflected that. The company had been using solutions and products by a reputable company for years, but was starting to realise that one-size-fits-all type of systems meant for a wide range of industries might not be the perfect fit for them.

City Motors was looking for a solution that was created with the specific needs of the automotive industry in mind. They found themselves struggling to keep up with the increasing demands of factory needs, as well as needing a reliable CRM solution to manage leads, customers and relevant data. On top of that, the company was looking for a solution that would allow all of their dealerships to have access to real-time stock. It was also important to create a modern and user-friendly website to accommodate the increasing customer interest in online shopping, whilst reflecting the real-time availability of products and vehicles in stock. 

Finding the perfect fit

On their hunt for the perfect solution to help tackle the above challenges, City Motors decided to give Modera Software a try. Knowing that Modera’s solutions were created specifically for the automotive industry, taking into consideration the special needs and requirements, City Motors was hoping the solutions would be the answer to their problems as well.  

The cooperation started in 2020 and consisted of two phases. The first step was to start adapting the existing processes to Modera’s CRM solution. Much to the company’s delight, the implementation process was fairly easy and the positive impacts of the change didn’t take long to show. The second phase included the implementation of Modera’s Webfront solution, as City Motors was looking for a single system that would be easily manageable and would reflect real-time stock across all of their webpages. 

Smooth cooperation

Thanks to Modera’s thorough knowledge of the industry, the implementation process of new solutions was easy and gave City Motors more confidence in their decision to try a new approach. Not only did the implemented solutions help City Motors in their daily operations, increasing the efficiency across all of their dealerships, but the company was now able to analyze and measure their performance in detail. This helped identify any bottlenecks in their processes and make improvements where necessary. 

Another benefit the company was able to enjoy thanks to the cooperation was the fact that their webpages were running smoothly, whilst providing page visitors with a seamless and user-friendly experience. 

From the beginning of the cooperation, one of the things City Motors valued most about Modera was how flexible and accommodating they were. It took several changes and customizations until the client was fully happy with the look and feel of their webpage, and they highly appreciated the patience and understanding Modera showed throughout the process. In the end, the custom solution created for City Motors was just the webpage they had been looking for. 

Main solutions implemented

To tackle their main challenges, City Motors implemented a number of Modera’s solutions. Webfront allowed them to have a beautiful and professional looking webpage, whilst Salesfront provided the perfect solution to manage stock centrally and make sure that all of their dealerships had a clear real-time overview of the inventory. Modera’s CRM solution helped increase the efficiency and productivity across dealerships, while ensuring customers enjoyed great and highly professional service.

Road to success

After implementing Modera Software solutions, City Motors has been able to improve the efficiency and operations across all of their dealerships. They benefit from a single system reflecting real-time stock, whilst having a reliable website and customer management system. 

City Motors understands the need to adapt to changing customer behaviour and demands, including the possibility for customers to go through their vehicle purchase process online. With a user-friendly website, easily manageable CRM system, and a flexible partner ready to meet any special requirement, the company is now set for all that the ever-changing automotive industry might have in store in the upcoming years. 

The post City Motors’ Road to Success appeared first on Modera.

Benefits of Retention

Dealerships that provide an excellent customer experience and employ tactics to retain customers will be successful in 2023. In this guide, we will outline how to increase dealership customer retention.

• Some benefits of increased customer retention are increased profits and reduced marketing costs. When a dealership retains a customer, they have an advocate for their business. The customer is likely to recommend the dealership to friends and family, which can result in an increase in business.
• In order to increase retention, dealerships should focus on building relationships with their customers. This can be done by providing excellent customer service and listening to the needs of customers. Dealerships should also focus on engaging the customer and providing a positive experience.

Modernizing Dealership Digital Experiences

• Your dealership is in a competitive market, and customer retention is vital for success. In order to keep the customers coming back, you need to offer them a digital experience that is modern and meets their needs.
• Your customers are used to a certain level of convenience and flexibility from online retailers. They expect to be able to shop online, on their own time, and have their purchases delivered directly to their door. They also expect a personalized experience, catered specifically to their interests and needs.
• You can meet these expectations by modernizing your dealership’s digital experiences. This includes updating your website, creating a mobile app, and using social media platforms to engage with customers. By providing a digital experience that is convenient, flexible, and personalized, you can increase customer retention and build long-term relationships with your clients.

Adapting Customer Service Strategies

Dealerships need to keep up with the times by adapting their customer service strategies. In 2023, customers will expect more from dealerships in terms of service and convenience.

Some ways that dealerships can adapt their customer service strategies include:

• Offering express service for urgent repairs
• Installing self-service kiosks for routine tasks such as oil changes and tire rotations
• Allowing customers to book appointments and track the status of their vehicle repairs online
• Offering shuttle services to take customers to and from work or home while their car is being serviced
• Providing a waiting area with complimentary Wi-Fi and refreshments

Investing in Employee Training and Development

• You can’t underestimate the importance of investing in your employees. This starts with providing staff training and development opportunities that will ensure they have the skills and knowledge required to provide excellent customer service. It’s important to focus on upskilling existing staff as well as hiring new team members who have specialized experience in automotive retail to best serve your customers.
• By investing in comprehensive employee training and development, you’ll be able to create a service culture that is focused on creating meaningful relationships with customers. This will help your team understand the value of customer loyalty, as well as how to deliver outstanding service that meets individual customer needs. 
• Additionally, regular training programs can help your employees stay up-to-date on industry trends, so they are better able to meet customer expectations.

Developing Loyalty Programs for Long-Term Engagement

• Developing loyalty programs for long-term engagement is an effective way to increase customer retention in 2023. With a loyalty program, customers can easily accumulate points and discounts based on their purchases which will encourage them to buy more often. Loyalty programs are also a great way to reward loyal customers with exclusive offers to keep them coming back.
• In developing your loyalty program, it’s important to consider things like how rewards are earned, the types of rewards available, and how easy it is for customers to understand and use the program. It’s also important to make sure that the rewards offered are actually beneficial to the customer. Make sure that they aren’t too difficult or expensive for your dealership to provide. Lastly, make sure that there is a clear communication strategy in place for letting customers know about your program and any updates or changes you may have made.

Utilizing Data-Driven Insights to Increase Customer Retention

Data-driven insights are becoming increasingly important for dealerships to understand how customers interact with their business. By comparing customer data to industry trends, dealerships can gain a better understanding of the success of their operations. Additionally, data-driven insights allow businesses to understand their customer preferences and behaviors, which can be used to tailor their offerings and increase customer loyalty.

Dealerships can use data-driven insights to customize their sales and marketing processes. The analysis of customer data can provide insight into which type of customer is most likely to buy a particular product or service, allowing dealerships to allocate resources accordingly. Similarly, dealerships can also assess data to identify which marketing tactics have been most successful in the past. By leveraging past successes, dealerships can invest in tactics that have proven to be effective in engaging customers.

Conclusion

To sum up, following the tips above should help increase dealership customer retention rates in 2023. However, it’s important to remember that not every dealership will have the same results, as customer retention is based on a variety of factors, such as the quality of the products and services offered, the attitude of the employees, and the customer’s overall experience.

The post How to increase dealership customer retention in 2023 appeared first on Modera.

The automotive industry is currently struggling to reach out to consumers. With constantly increasing car prices and numerous other challenges, targeting potential customers has become quite a hassle.

Thankfully, there are some tried and trusted automotive digital marketing trends that can help car dealerships capture their leads this year.

The following are the 4 best digital automotive trends in 2023:

1.   Improved video marketing

Consumer trends in the automotive industry show that videos, especially short ones, have a much better chance at converting leads into customers.

According to Wyzowl, an automated video production company, 78% of marketers increased their overall sales by using videos.

This is because of the attention that videos and clips are able to retain. In fact, people are 4 times more likely to watch a video than read a piece of text.

There are countless video ideas that dealerships can take advantage of. These include various how-to videos, car highlights, testimonials from previous customers, etc. Another big trend currently ruling the automotive market is car dealership tours. They can be done via videos or the newest tool in the game, VR – everything’s explained below.

2.   VR technologies

The metaverse is gaining ground with more money and hours being put into improving its tech. Virtuality Reality, or VR, technologies are going to play a huge role in the future. This also applies to car dealerships.

As mentioned above, recent trends in the automobile industry show that customers love getting the feel of a car, or the dealership that it’s in before going ahead with the purchase. Studies even show that many people actually feel uncomfortable walking into a dealership due to the pressure put on them by the sales team. 87% of American buyers end up disliking the buying process as a result.

This is where VR comes into play, as it can give customers a detailed overview of the car without them having to actually visit the dealership.

The automotive market trends show that the top car brands and dealerships are implementing these strategies.

3.   Mobile experience optimization

Smartphones have replaced countless technologies and they’re the deciding factor when it comes to car purchases. About 51% of consumers conduct thorough research on their preferred car on their mobile phones. This means that they don’t just read about the main features, but also hunt down the best offers and dealers in their area.

Even getting those clicks and attention from mobile users is important for a dealership nowadays. Digital car market trends show that 44% of mobile-first users purchase their car within the first three months of looking at it. This is why it is crucial to have a good mobile interface for your website. Everything should be easily readable, digestible and accessible, and ending with just the right Call-To-Action (CTA).

4.   Upgraded messaging applications

Chatbots and messaging solutions are some of the best technology trends that have been implemented in the automotive industry. They help dealers out with multitasking, whilst making customers’ lives easier. They’re a highly effective tool for dealing with inquiries and can provide up to 25% higher customer satisfaction.

Not only do these applications improve sales, but they also help make your dealership run smoother, as they help with staying on top of the information regarding maintenance and repair appointments.

5.   Automotive CRM solutions

Of course, out of all the automotive industry trends, the implementation of automotive CRM solutions is a must for every dealership. This is because these are tools that can not only help you manage the entire dealership properly and with ease, but they also help you market it.

You can store all sorts of customer data using these systems. Then, you can utilize said information to share the best offers and deals with your clients.

Some companies offering this type software also provide digital sales platforms. These help your sales team deal with incoming leads more effectively. You’ll be more efficient in managing everything from the next test drive to any upcoming handovers.

One thing’s for sure – the existing auto trends have proven to be useful in helping to increase sales for car dealerships. Therefore, we’re definitely hoping to see many companies hopping on these trendy bandwagons to maximize their growth in 2023.

The post 5 Digital Marketing Trends in the Automotive Industry for 2023 appeared first on Modera.

It seems the auto industry has more and more challenges to face each year and 2023 will not be an exception. The five main challenges the industry will have to overcome are the following:

• Problems with new car supply
• Increasing demand for used cars
• Managing aftersales
• Building and nurturing customer relations
• New approach to sales and marketing

Luckily, there’s a way to tackle all of these challenges and we are going to give you just the solutions.

What is the industry in for?

You may have heard the saying, “the only constant is change.” Well, that’s definitely true when it comes to the car industry. Over the next few years, we’re going to see some major changes that will affect car dealerships in a big way.

For starters, we’re going to see an increased demand for used cars. At the same time, the new car supply bottleneck is going to cause problems for dealerships. And if that’s not enough, customers are going to start demanding even better customer service.

Aftersales has always been a critical part of the car dealership business, but it’s only going to become more important in the years ahead. Fear is still a factor for many customers, so marketing and sales teams need to find ways to overcome it.

In this article, we’ll take a look at five challenges that car dealerships will face in 2023 and how to solve them.

Customer Relationship Management Software

• It’s no secret that customer relationship management (CRM) software is a crucial part of any car dealership’s success. But in 2023, car dealerships will face new challenges when it comes to customer relations.
• There will be a higher demand for used cars. This means that dealerships will need to focus on aftersales in order to keep customers happy and coming back for more. Additionally, customers will be more likely to shop around for the best deal, which means dealerships will need to work harder to stand out from the competition.
• Finally, dealers will need to be careful not to annoy prospects with irrelevant messages. The key here is to personalize each interaction and make sure that all communication is relevant to the customer’s needs.
• If you can overcome these challenges, you’ll be well on your way to success in 2023!

The New Car Supply Bottlenecks

It’s no secret that the car market is changing. Electric and autonomous vehicles are on the rise, and this is having a major impact on the way dealerships do business.

One of the biggest challenges that dealerships are going to face in 2023 is an increased demand for used cars. Why? Well, as more and more people switch to electric and autonomous vehicles, the demand for new cars is going to drop. This is going to create a bottleneck in the supply chain, and dealerships are going to have to find ways to deal with it.

Luckily, there are a few things that they can do. They can, for example, focus on expanding their used car inventory or team up with other dealerships in order to consolidate orders. They can also invest in customer relationship management software, which will help them keep track of all their customers’ needs.

An Increased Demand for Used Cars

You might be wondering how the increased demand for used cars will affect car dealerships in 2023. Here’s the thing: as the cost of new cars continues to rise, more and more people are choosing to buy used cars instead. And that’s creating a lot of challenges for car dealerships.

For one thing, it’s becoming more and more difficult to find good quality used cars. That’s because the supply of used cars is starting to dry up. And when demand goes up and supply goes down, prices go up.

Another challenge for car dealerships is that customers are becoming more demanding. They want better deals and they want a wider selection of used cars to choose from.

Dealerships also need to be prepared for a shift in customer behavior. More and more people are buying cars online, which means dealerships need to find ways to make the online buying process easier and more user-friendly.

Finally, car dealerships need to be prepared for fear to continue being a factor in the buying process. People are still hesitant to buy cars sight unseen, especially if they’re spending a lot of money on them. So car dealerships will need to find ways to build trust with their customers and overcome their fears.

Aftersales Remains Critical

In the automotive industry, aftersales is critical for success. It’s what keeps customers coming back, and it’s what can make or break a dealership.

There are a few challenges that dealerships will face in 2023 when it comes to aftersales. Luckily, high-quality customer relationship management software, such as Modera’s, can help you keep track of your customers and keep them coming back. And our team of experts is always here to help you out with whatever you need. So don’t stress, just focus on providing excellent customer service and you’ll be just fine.

Annoying Prospects With Irrelevant Messages

It’s no secret that customers are getting more and more selective about the brands they do business with. They want to be sure that they’re spending their money with a company that values them as a customer and is invested in their success.

So when you send them irrelevant messages or try to hard-sell them, it just annoys them and makes them less likely to buy from you. In order to win over customers, you need to focus on providing value and building relationships.

The best way to do that is by using customer relationship management software to keep track of their needs and preferences. That way, you can send them relevant offers and information that helps them achieve their goals.

CRM software as solution in car dealership

You know that car dealerships are facing a lot of challenges in 2023. The market is changing, and customers are demanding more than ever before.

But don’t worry, there’s a solution. CRM software can help you manage your relationships with customers and keep them happy. With the right tools in place, you can overcome all sorts of challenges and thrive in the future.

So don’t wait any longer. Invest in a quality CRM software and start seeing results for your dealership. You won’t regret it!

Conclusion

The challenges car dealerships will face in 2023 are varied and numerous, but they can be overcome with the right planning and execution. CRM software is a critical tool that can help dealerships manage their customer relationships and increase sales. With the right strategy, car dealerships can thrive in spite of the many challenges they face.

The post 5 Challenges That Affect Car Dealerships in 2023 and How to Solve Them appeared first on Modera.