I just read the results of a survey by consumer credit reporting firm Equifax in which, while 87 percent of the dealers surveyed said they thought customers would like to be able to complete the car purchase process online, only 27 percent offered that service. Dealers understand digital solutions, Equifax said its survey found, but nonetheless didn’t have those solutions in place.
The same is true with the topic of one of our stories this week, I think. A dealership’s online reputation is vitally important to its business. A vast majority of shoppers start their journey online these days, and a dealership’s reputation in reviews is one of the things they check. A dealership’s online reputation is one of the first thing a potential buyer of the franchise checks as well, says a buy sell professional. While dealerships may understand that online reputation is important, many don’t invest in holistic management of that reputation. Learn more about the importance of online reputation and ways to manage it in this week’s issue.
Dealers hate stair step incentive programs yet can’t avoid making those programs the focus of day-to-day business, write Marc Spizzirri and Taylor Conant in today’s second piece. They discuss the harm that kind of myopic focus can cause and offer suggestions on how to end what they call an addiction to manufacturer incentives.
And then there’s Transaction News.