Are You Aware of the Untapped Market?
Bloomberg wrote an article last week about single women and SUVs. Over the past 5 years, small SUV sales to women increased 34%, compared to a 22% rise for men, according to MaritzCX. In this same time frame, premium small SUVs saw 177% growth in sales to women.
And among female car buyers, 40% aren’t married.
“There are single, professional females out there that need vehicles, and you need to be attentive to them,” said James Mulcrone, Director of Research Services at MaritzCX, who has studied trends among female car buyers. “They’re going to make money, they’re going to make their own decisions, and they can be very loyal consumers.” Click here to read BLOOMBERG Article.
Did you Know?
Two-thirds of women buyers reported their 2015 car purchase decision was “entirely up to me.”
So, What’s the Rub?
In a highly competitive market, what is your “Why Buy Here” message? Is it “the BEST Service or BEST Price?” That type of superlative language is simply overplayed and noisy. It doesn’t resonate with women and isn’t distinctive. Women do not want to be sold to like they are buying “power tools.” Her are 3 ways to stand out.
1. Sell more than Cars in Advertising. Women look at car ads, read dealer reviews and use social media to help make a car buying decision. Expand your ads to include more than price. Be sure to convey your reviews and reputation for excellent service and trustworthy business. Be the dealership that attracts women buyers because they can get a great car from a trusted, respectful dealer.
2. Sell the Dealership. Every shopper is a potential client of the dealership. Give them a tour of the service lounge, while you provide them with a free car wash. Explain that overnight cars are provided, since the dealership understands how precious time is for women. Your club lounge has great workspaces and wi-fi. Instead of all customers having to watch the same program, personal programming channels with earplugs are available for customized viewing. Notebooks on hand make checking email, Facebook, Instagram or Pinterest a breeze. Every guest receives the list of women-centric seminars on tap for the month.
3. Be a Certified Trusted Dealer. 62% of women are not confident going to buy a car. Showcase your store as the place women in your area trust and go first.
For this week's Think Tank Tuesday, I interviewed Ray Bleser: owner of Northeastern Fine Jewelry.
Ray introduces a different way that he portrays his brand to instill trust in his customers. Many business owners still use price to advertise their brand; storytelling is a unique method that Ray uses to make sure that he is giving his customers the best service that they've had.
If you're a small business or an entrepreneur, this is the episode you want to watch in order to grow your brand and make sure your business is successful.
I want to hear your thoughts! Comment below:
Download this white paper and get the insights and real-case scenarios about how your dealership can begin tapping into the magnificent sales to women. Now.
Do you know how many women ups visit your store each week? Each month?
Do you know how many of them actually convert and buy from you?
[We didn’t think so. Most dealerships don’t track this.]
Start putting your attention on these new mindsets to SELL YOUR DEALERSHIP at the zero moment of truth (ZMOT) and during the entire digital-to-showroom continuum. Your results will surprise and delight you; how does an additional $3 million to $6 million sound? Sound far-fetched?
You have women jumping in to check out your store at various points during this shopping continuum; be prepared to provide her with what's important to her. After all, two-thirds of women are not confident or comfortable stepping in to your showroom.
In this white paper, receive 8 Steps to Differentiate your Dealership to start converting more browsers to Buyers today.
Dealers who fast forward, starting now, will be the early adopters of a changing sales methodology and will reap the benefits.
Today's Women's Wednesday is a rich historical look back reflecting on 50 years of women and automobiles. Its is a great way to view the huge industry and cultural shifts that have taken place in five decades. Fom A to Z. Here are just a few of the trends and events that changed the marketplace and perceptions:
There are two sides to everything, right? To keep our car reviews innovative and interesting, we provide an animated, insightful, detailed and sometimes uncouth two points of view on the same car from – Her + His perspectives. Read the 2016 Ford Explorer Platinum review here.
For Previous Issues of Women's Wednesday, click here.
In its first analysis of the top 10 selling car brands of 2015, Women-Drivers.com provides insights into women car buyers’ preferences and experiences. The report includes the top selling brands by units sold including Ford, Chevrolet, Toyota, Honda, Nissan, Jeep, Hyundai, Kia, Subaru, and GMC (in descending order, with sales volume sourced and provided by GoodCarBadCar.net).
The report includes intel about what women have experienced while shopping, buying and servicing their vehicles at new car dealerships. This data is specifically generated from participating dealers who are certified through Women-Drivers.com. This information helps forward-thinking dealerships understand the nuances by brand for women buyers who are the largest buying segment and influence the most purchases. Unlike other reputation sites, the source of the information comes from reviews and opt-in surveys. 9 out of 10 women nationally opt-in to the 25 question survey.
Perhaps conventional wisdom says that most buyers are basically alike; that a “one-size fits all” approach is simple and works fine. The report indicates otherwise. While some results from the survey across brands appears similar, there are enough differences to warrant a closer look. The same definitely holds true for the dealership and dealer group reports.
In today’s information-rich world, it is sometimes difficult to sort out what really matters. Reports like the “Women Car Buyers and the Top 10 Brands” distill key data points by brand into easily understood analysis that can help you drive more dollars to your dealership’s bottom line.
How well do you adapt to new techniques for improving sales? Are you up-to-date on the latest buying trends of the ever-growing women buyers’ market segment? Are you confident your departments meet the needs of women, who now buy half of all cars and influence 80% of the purchases?
Adapting to change to Surge ahead of the Competition
Today’s information-driven world allows dealerships to collect and analyze customer intel to help fine-tune sales and service strategies to increase business. Change is challenging. However, unless customer and market intel is collected and analyzed, it is impossible to tell if your store is reaching it’s potential. To stand out, maximizing strategies for female buyers is a key way to improve revenue.
1. Dealer reviews have become so common that 80% of shoppers use them to choose what dealerships to visit.. But how are you marketing to women who rely on reviews twice as much as men? Further, they depend on reviews written by other women – seeing them as authentic and more relateable.
2. With numerous ways to shop, women are armed with an overwhelming amount of information before even stepping into the showroom. A strong digital-to-showroom approach is important and having a trusted online presence that speaks to your women+families is imperative. Use lifestyle content from the Women's Car Guide to cultivate and build a trusting relationship with your female clients that keeps you top of mind, by providing educational and engaging posts and newsletters.
Did You Know? Dealership websites are the top place women go first when researching to purchase a car.
3. Unlike other review sites, Women-Drivers.com provides unprecedented, thorough consumer intel from your own customer experiences when shopping, purchasing or servicing her car. Working to constantly improve the customer journey will result in continued stellar reviews, trust and marketshare build.
This week, hot-off-the press, we’ve got the 2016 U.S. Women’s Car Dealership Report, showing how progressive car dealerships make a difference in the experiences of women and families. This national report shows what is important to women when shopping, buying and servicing their vehicles.
The information in this report is drawn from over 4,000 women’s reviews and opt-in surveys. Using the reviews, Women-Drivers.com generates a Women Satisfaction Index® (WSI Score), ranging from a high of 5.0 to a low of 1.0. The surveys are used to delve deeper into women’s shopping, buying and servicing experiences.
This information is specifically generated from dealerships certified through Women-Drivers.com based on the customer reviews. These progressive, forward-thinking dealers use the company’s platform to improve sales and service experiences for their women clients. Dealers who participate, continually evaluate the data an consumer intel they receive to ensure they maintain high scores, knowing women rely on reviews almost twice as much as men.
“Unlike other 5-star review sites, we give women the opportunity to write quick reviews and then opt-in to a 25-question survey, which 9 in 10 women nationally participate in” said Anne Fleming, President of Women-Drivers.com. “Our platform empowers women to respond in an honest and productive way, thus, helping certified dealers evaluate and improve the customer experience. This data helps dealers take the guesswork out of marketing and selling to women."
Certified Women-Drivers.com Dealers receive an average satisfaction score of 92%, which is 23% higher than non-certified dealers. Women rely on reviews 50% more than men, so having positive ratings has a direct impact on a dealership’s building trust and the bottom line.
Women have a variety of options when shopping for a car and have an array of information available. It is always in a dealer’s best interest to understand how to engage women, and tune their strategies to maximize this buying segment’s interest.
Click here to read the full Press Release about the 2016 US Women’s Car Dealership Report.