Six ways to create a better customer journey

It’s a trend we’ve been watching closely at iVendi and our latest thinking is contained in a new white paper that is proving to be one of our most popular ever. Called Better Buying Journeys, it’s designed to help dealers thrive by adapting to this new environment.  

As a taster, we’ve included six of the ideas we discuss in the document, ranging from simple actions to strategic initiatives, that we believe will help you better meet the needs of today’s car buyers.  

1. Customers prefer a hybrid buying journey. The appeal of a mixed real world and digital journey is that it allows customers to pause and come back to their purchase as many times as they desire, at a time that suits them. Buying a car is a complex process and unwinding the many elements – choosing a vehicle, sorting finance, adding options – to make them more manageable is at the core of why hybrid journeys work so well. Your showroom and technology should enable this approach. 
2. Value-added products are a key online profit opportunity. We are seeing many dealers massively increase online penetration of warranties, service plans and other value-added products by integrating them into our Digital Deal propositions. These products can be discussed on the phone or in-person before the deal is sent using a digital concierge approach where support and expert advice is given to the customer to guide them through the process 
3. Allow reservations online with the use of a deposit. This signals a clear intention to buy but also creates time for the consumer to potentially resolve all the issues around their purchase – selling their current car, agreeing the part-exchange, accessing settlement figures and more. However, beware of long reservation times that take vehicles out of your stock listing.
4. Test drives are a big advantage for dealers. Make them bookable online.  
5. Are you enabling part exchanges online? This has traditionally been a stumbling block in the digital journey. Estimates leave room for negotiation but don’t allow a purchase to be concluded online while guaranteed prices can put the buyer off. A combination may be best – with the ability to ‘appeal’ online if the consumer believes their vehicle is worth more. This allows the process to continue. 
6. Go multi-lender to see higher penetration. We see higher sales of both vehicles and motor finance where consumers are shown not just a range of finance products but a range of lenders. Promote transparency by showing your entire lending panel online.

For more information on how you can level-up your hybrid journey, download your copy of Better Buying Journeys here.