Today’s Women’s Wednesday is about becoming new leaders in the growing and dynamic market of women consumers.
As competition tightens, the need for exceptional leaders at dealerships couldn’t be greater. Wayne Gretzky, the hockey legend, explained the key to his success, “a good hockey player knows where the puck is – however, a great hockey player knows where the puck is going”.
To be an exceptional leader like Gretzky, a proactive and anticipatory approach is important. Currently, the industry is dynamic, producing great opportunities to differentiate. It is imperative to take strategic risks and be proactive about tapping emerging trends that pertain to women+families.
Did You Know?
1. Women in the U.S. buy 50% of vehicles – about 75,000 a day at new and used car dealerships
2. According to the U.S. Census, over one-third of women out-earn their husbands
3. More and more children are born to single moms
These may seem like just numbers but they are real money-making and business performance boosting statistics for dealers who want to be positioned as the go-to dealerships in their market. How?
1. Recognize Women have the Buying Power: Break from the traditional model and make the store more women+family friendly. Since women are propelling sales, cater effectively to this buying segment by hiring more women sales and service advisors. Hire qualified people that relate and look like your customers for a more comfortable and successful sales experience.
2. The Changing Family: Women are the breadwinners in over one-third of family households. There are many homes with stay at home dads, same gender parents and multiple generations living under one roof. Cater to each potential customer with ultimate respect.
3. Meet Your Customers Where They Are:
a. Problem Solve: As more children are being born to single moms, it is important to know that all parents appreciate a child-play area.
b. A Caring Company: The #1 requested concierge service item from women is an overnight vehicle. This shows you understand the inconvenience of having a car repaired overnight and are willing to go the extra step to do something about it; providing hassle and worry free service.
c. Have women WANT to BE THERE: Have fun services like a boutique fitness and yoga studio with changing area, shower, and rest rooms. (Not everyone wants to sit and watch TV.) How about Play Stations for mom gamers while their car is being serviced? Sound silly? At one time your grocery store simply sold food. Now it has services like banking, café, childcare, dry cleaner, pharmacy, and health and wellness, and other conveniences.
d. Install vending machines with healthy food options and beverages (not just M and M’s & Pepsi) and provide Starbucks coffee and tea. How about a manicurist in the store, part time?
e. Free car wash policy is a winner for you and your customers as they will stop in a lot more frequently – different and more lasting relationships will be created.
f. Engage and Educate: assist customers in getting to to know their new car better with a specialist 1 on 1, or spend time checking out the latest safety+tech features of your top 3 models being featuring this month.
Women visit two dealerships but they buy from just one! What plays are you making to ensure she picks your store? Leadership paired with strategy is a better game than luck in capturing new business.
For more on Leadership and to read about Wayne Gretzky type of Dealers, click here.
Want to Sell More Cars and Distinguish your Dealership to Women? Click here to learn more.
Did you receive a Free copy of the 2014 Women’s Car Buying Report? Click here to download.