As we gear up for 2018, we’re providing you with a powerful white paper. While everyone knows the power of women buyers, are you aware of how women are impacting your business?
- What percentage of your business is generated by women?
- What percentage of your leads are generated by women?
- What percentage of your service drive business is generated by women?
Clearly, you can’t grow what you don’t know!
The average new car dealer sells 819 vehicles annually to women. But if you don’t have a benchmark for tracking this, how can you improve sales to this growing segment that now buys 4.5 of every 10 cars, especially in a more challenging retail climate?
The white paper Behavior Economics: Increase Sales to Women by $2 Million provides a clear road map to crack this code in two key areas:
- Five easy steps to train your sales advisors to adapt, coach, and motivate them to adopt new attitudes and behaviors to engage this buying segment.
- New tracking metrics to gauge and propel your store to cultivate sales to women and families and be a destination dealer.
Reshaping The Industry’s Economy
The millennial. Individuals born between 1980 and 2000 comprise ‘one of the largest generations in history’. In a recent article “Millennials Coming of Age”, by Goldman Sachs, millennials are not only poised to reshape the economy, but are about to move into prime spending years. Millennials overtook Baby Boomers, ages 51 to 69, as the largest generation according to the U.S. Census Bureau.
Women of all age groups are buying 4.5 out of every 10 vehicles. However, of those millennial buyers, 53% are women. Honing in on what factors contribute to car purchases made by millennial women can help dealerships step into a larger market share.
How Millennials Stand Out From The Crowd
What makes millennial women stand out from non-millennial women? According to Women-Drivers.com, millennials ranked price, style, brand, color and warranty as top factors for car purchasing. Trustworthiness and respect ranked as the top two reasons to buy from a sales advisor. Additionally, millennials who are adept at using reviews in many product categories, use car dealer reviews readily to help them locate what dealerships to do business with.
Millennials Are Digitally Engaged with Dealers
Since millennial buyers have grown up with the internet and smartphones, they are highly connected with social media. Goldman Sachs states that 44% of millennials text message, 16% blog, 38% instant message, and 38% are engaged in social media. For example, Women-Drivers.com reports that social interaction is critical:
- 44% of millennial respondents viewed a dealership’s Facebook page, an average of 10% higher than non-millennials.
- 67.5% of millennials furthered to “Like” a dealership’s Facebook page, an average of 10% higher than non-millennials.
One takeaway would be that millennial women are more evaluative that non-millennial women. Additionally, millennial women are open to using dealer’s social communities.
Social Selling Sales Advisors
Connecting with this group means engaging a generation that places effort to find answers within an electronic style of communication. A style that’s silent but not soft-spoken, educational but not elusive, and often promotes multitasking. Their energies are to be reigned in with true and genuine interest.
Millennials interact with Instagram, Twitter and Facebook as social media mainstays. What are sales advisors doing to grab ahold of a portion of engagement? Smart sales advisors build leads off their successful sales relationships. They ask for the referrals and reviews, and the satisfied customer happily provides. Behind the scenes lay electronic connections ready and waiting. “Friend” or “Follow”, those requests and actions taken upon referred names create a plethora of potential customers. Social profiles built by sales advisors with the intent of building leads is becoming a new system of lead generation.
Be Personable and Prosper
Our data reports that millennial women travelled further to visit showrooms and are less likely to shop the nearest dealership. Goldman Sachs points out in its article that millennials have less money to spend, while industry reports show that younger buyers have little interest in negotiating the purchase price. Sales advisors could capitalize on their discussions with millennial women and secure a more decisive market.
Does your advertising speak to this segment specifically, and not just have a women spokesperson on a sports TV or weekend ad? Listen to the millennial woman and bring the showroom tour into a vision of comfort, longevity, service center and multitasking lounge that serves as a hub for the busy woman scheduling around work, school and personal time. Become the dealership that cares about the millennial women buyers and prepare to excel in your sales across the board by applying the principles of being personable, relatable, and interactive.
Industry experts tell us that car buyers go to 1.6 dealerships to buy a vehicle.
From the Women-Drivers.com 2017 US Women’s Car Dealership Report, we find that number to be true for half of women car buyers. The other half report a very different answer altogether. An amazing forty-six percent of women car buyers are going to twice the industry average, or 3.2 dealer visits.
Which begs a few questions:
- Are the industry experts talking to enough women when conducting their research?
- What evidence do you have that the women coming into your store are buying from you? Do you track guests that are overlooked and leave? Do you measure these lost sales and put new behaviors and practices in place to re-capture them?
In the “How Many Car Dealers Are Women Buyers Visiting” white paper, learn that 60% of women who leave a dealership without buying, do not return. Understand what the top 5 reasons are for not buying at a dealership – do any of these sound familiar when women leave your store?
Discover what top dealerships are doing to earn her buy-in and create the right conditions for the sale on the first visit. Sixty-two percent of women report that they return to the dealerships where they first purchased their vehicles to then have them serviced. This highlights the potential to grow value among this critical market segment.
Sixty-two percent of women report that they return to the dealerships where they first purchased their vehicles to then have them serviced. This highlights the potential to grow value among this critical market segment.
Changing family dynamics have put women squarely in the driver’s seat with an estimated one-half of all cars sold being purchased by women who are then directly responsible for decisions involving vehicle maintenance and service appointment scheduling.
This makes offering post-sales service on her terms a value proposition worth embracing.
It All Adds Up
From our 2017 US Women’s Car Dealership Report, game-changing data offers a new view of the Top 15 service drive brands rated and ranked by 4,653 women when at their dealerships.
Dealer Satisfaction Scores – High trust and comfort levels are must haves for women.
Fixed Operations Income – Service alerts and courtesy vehicles keep her coming back.
Future Purchase & Referral Rates – Listening without interrupting earns repeat business and valuable referrals from her.
Becky Nixon, an industry authority and Director of Fixed Operations Training for David Lewis & Associates, offers the following:
“Psychologists tell us that women are generally detail-oriented and inquisitive by nature. Convenience being the key, all recommended repairs or maintenance must come with an honest and definitive timeline attached.”
Women who buy from Women-Drivers Certified Trusted Dealers confirm this. They want their questions answered, cars serviced in a timely manner and a service experience that makes them feel good. Making women feel heard, appreciated and understood goes a long way toward earning their repeat business—and referrals. And, very positive reviews.
The Last Word – Distinguish
There already exists a time frame for women to return to their original dealership for recalls or mandatory service visits associated with vehicle warranties. To keep them coming back after those years have passed, it’s imperative to offer relationship-building perks which distinguish your brand, like:
- Free car washes or annual ‘we-appreciate-your-business’ detailing offers.
- Comfortable seating in lounge areas, Wi-Fi connectivity with nearby power outlets, entertaining play areas for children, and clean restrooms.
- Refreshment stations stocked with quality coffee, tea, water and healthy snacks.
Adopt marketing strategies that speak to women’s concerns. Your website and e-newsletters are the avenues for targeted messages and selling strategies when they shed light on service offerings of benefits and provide a deeper understanding of maintenance procedures.
Women rely on these resources for links and data that help them assess a potential need for repairs (i.e. worn out windshield wipers, squeaky breaks). Educational content that is aimed at ensuring their families’ safety can boost a dealership’s brand image and trust among women.
Note: Women’s #1 requested concierge item is a courtesy vehicle. What lasting impression are you leaving your female clients in your highest gross margin department?
Today we will preview a CBT News interview where dealers get the inside scoop on interesting data collected from the 2017 U.S. Women’s Car Dealer Trends & Report about the buying experiences, preferences and habits of women.
In the video, the following questions are discussed:
1. What dealers can learn about their female consumer experiences by working with Women-Drivers reputation and rating platform?
2. What are top dealers doing right with women buyers? [3:20]
3. 46% of women report that they went to an average of 3.2 dealerships before buying a car. Why is this? [5:04]
4. The #1 reason women report buying a car at a particular dealership is... [7:20]
5. The #1 digital resource women reported using is the dealer’s website, #2 is the manufacturer. Anne discusses ways to capitalize on this. [9:30]
Representing 45% of all car purchases, women are buying 8 million new cars this year, so catering to them is a must. How will you evangelize that your brand is the destination dealership with women+families? It’s time to stoke demand and convert more women shoppers to buyers.
According to Autodata,17.6 million new vehicles were sold last year, setting a record for cars and trucks. One distinct group of consumers contributed an estimate 8.0 million units to that total: women buyers.
Dealers seeking to sell more to this critical market segment can start taking new actions and, in the process, collect data to improve the purchasing, service drive and shopping experiences for this powerful buyer.
By the Numbers
From our 2017 US Women’s Car Dealership Report, game changing data offers a new view of the car buying experience for brands rated and ranked by 4,653 women when ‘purchasing’ at their dealership.
- Optimizing Sales – 54% go to 1 dealer; 46% of women shop at 3.2 dealers to find the right dealership “fit”
- Enhancing Value Propositions – Women buy from trusted dealers with sterling reputations; 6 in 10 do not buy from the closest dealer
- Increasing Customer Satisfaction – High Sales Advisor EQ is a No. 1 purchase motivator
Fuel for Thought Leaders
Certified Trusted Dealer satisfaction scores among women are on the rise with an outstanding cumulative score of 97.1 percent. Invariably, these stores are experiencing higher CSI, higher gross margin dollars, increased service visits, more loyalty & retention, and more reviews and better reputations.
The results are straightforward. Positive reviews from women demonstrate how car dealers are showing respect for women during the car shopping and purchase process, earning their trust, their business and long-term loyalty. It’s is a win-win.
Make Money Mondays with Sean V. Bradley -The New Road to the Sale
In this week's Episode of Make Money Mondays Sean V. Bradley, President of Dealer Synergy, explains the importance in reviewing your dealership's Road to the Sale. While every dealership has a variation of the Road to the Sale, most of the core steps are present in everyone's process. Some new technologies are causing dealerships to change or modify their Road to the Sale.
Sign up now for Internet Sales 20 Group 10 in Philadelphia, PA July 10-12, 2017!
To visit all of our Make Money Mondays in one place visit: http://www.MakeMoneyMondays.net/
If you like Make Money Mondays, you will love Bradley On Demand: http://www.BradleyOnDemand.com/
For more information about Dealer Synergy, visit http://www.DealerSynergy.com/
If you have any questions, call or text Sean on his cell 267-319-6776.
In today’s hyper-competitive industry, women buyers are crucial for dealer’s success. Almost 8 million new cars are being purchased by women alone. And, Certified Trusted Dealers are expanding their business to this powerful buying segment. In fact, these Certified Trusted Dealers have a cumulative 97.1% satisfaction score vs non-certified trusted dealers 85.5% satisfaction score. What a difference!
Women-Drivers has just compiled our annual comprehensive report on women’s Purchasing, Shopping and Service Drive trends, experiences and preferences.
Click for access to the 2017 US Women’s Car Dealer Report & Trends. Best business practices are included to elevate your female client experience to help your store achieve increased market share, sales and retention.
Here are some game-changing data points to keep in mind:
- 45% of women purchase cars by themselves
- 53% of millennial car buyers are women
- 38% of women out-earn their husbands
- 56% of women do not buy from the brand dealer closest to their home
What actions do you have in place or will you implement to be a destination dealership for women+families?
In today’s competitive marketplace, women buyers are crucial for auto dealer’s success.
The all-inclusive 2017 US Women’s Car Dealer Report shares trends, behaviors, preferences and experiences women have when Purchasing, Shopping and in the Service Drive.
It’s not enough to just ‘know’ women’s habits when purchasing a vehicle at a dealership. ‘Knowing’ doesn’t make a difference.
Dealers that are taking action to market, to engage and to set forth a plan of adding value when selling to women are the ones winning their business.
We measured Certified Trusted Dealers satisfaction scores. In this year’s report, we share best business practices to elevate the client and guest experience to assist you in getting out of your comfort zone. It’s up to you. Stay the course, or apply new ideas, practices and methods to achieve a higher market share, retention and loyalty.
Below are the top 17 items on women’s New Year’s list when it comes to car dealerships and the service drive for 2017. Here’s an opportunity to add some new options to market and engage to the growing car drivers and buyers and expand your business.
At The Dealership
1. Buying a car in a relaxed, zero pressure environment.
2. Child care made available during the test drive and negotiation process.
3. A 3-day return program which instills a boost of buyer confidence.
4. Sales advisors with high emotional intelligence who have the capacity to recognize buyers’ emotions and guide the process accordingly.
5. Privacy when buying a vehicle. Preferably one that doesn’t include old grey cubicles.
6. A warm sales environment with aesthetics including artwork, paint, plants, and graphics portraying a balanced demographic.
7. A more balanced demographic among sales and service advisors.
8. Current, easy-to-find, authentic reviews showcasing how the dealership interacts with women buyers.
9. Dealers that offer seminars on the latest car technology, insurance savings, mobile apps, and other useful information.
10. Home and workplace test drive delivery.
11. Complimentary child car seat seminars and fittings. Talk about building customer loyalty.
In The Service Drive
12. Longer service hours to accommodate working women.
13. Yoga or work out room while waiting for car to be serviced.
14. Mobile repair dealership that will come to customers’ homes to do oil changes, put snow tires on, etc.
15. Loaner vehicles for women. This is the #1 requested item by women.
16. Kid-friendly play areas, café areas, and wifi are all huge perks.
17. A stop-in-anytime pass for free car washes. Great loyalty builder.
Engage More Women in 2017
Looking for ways to engage more women buyers in 2017? Click Here.
“Dealerships, Know The Law Before You Fly”
As an employee of Dealer Synergy and Dealer Video Production, I recently faced a very unique situation when our company brought on a new client for a monthly video production package. We were given the opportunity to film our first broadcast television commercial and the client was specific in what they were looking for: they envisioned cinematic, aerial shots that can only be accomplished by using a state-of-the-art Drone camera.
Unless you have been living under a rock for the past two years, I am sure you have heard the term “Drone” being used on a regular basis. A Drone is an aircraft without a human pilot aboard, operated remotely with a control. The technical term used by the FAA (Federal Aviation Administration) is an Unmanned Aerial Vehicle, or UAV, and Small Unmanned Aircraft System, or sUAS. Whether you are a Sales Associate, General Manager, or even Dealer Principal with the urge to fly, it is important to understand the new rules that have come into effect when using a Drone for commercial purposes.
Before purchasing a Drone yourself, you should do plenty of research on the available models and sort out which is the best for your situation. If your dealership is looking to produce basic video content, then I personally recommend purchasing a Parrot Bebop Drone. This prosumer-grade Drone is a solid beginner model for someone who wants to start taking their video strategy seriously but lacks ample video experience. Though the price tag may be a bit daunting to some, it’s a far safer bet than purchasing any one of the low-priced Drones that sit behind the counter of your local drug store.
Given the current marketing trend with these magical devices, there’s a good chance that if your dealership does video advertising, it may have already employed a production company to shoot Drone footage capturing the car lot or storefront. However, if you want to undertake this operation yourself, then there are a number of rules and resources to consider. This article will examine the basic laws and functions of a UAV that everyone should have a general understanding of before cruising one over their dealership.
Some things you will learn from this article:
The most recent law passed by the FAA on personal and commercial Drone use.
How you can register your Drone online for use.
The resources for obtaining a certification from the FAA to use your Drone commercially.
Tips and tricks for operating a Drone in a safe and effective manner.
As of August 29, 2016, the FAA has passed a new rule (Part 107) regarding Drone operations both personally and commercially. The first and most important thing to do when you purchase a new Drone is to register your device with the FAA before you even attempt to fly. Any consumer or semi-professional level Drone that weighs between .55 lbs and 55 lbs must be registered through the official FAA website (https://registermyuas.faa.gov/). The owner of the Drone is fully responsible for going to the website and paying a $5 service fee. However, if you are hiring a production company to film with their own Drone, then it is not your responsibility to have the Drone registered.
If you or someone from your dealership owns a Drone and plans to use it for commercial purposes, including digital marketing on the web, then the remote pilot must pass a FAA sUAS Knowledge Test to legally operate the Drone. This knowledge test is a 60 question multiple-choice examination that is conducted at a participating airport in your region. It is very similar to a driving test or a CDL test; you will pay a one time fee of $150 that is non-refundable if you fail the test. In order to pass the test, you must score a 70% and finish within the allotted time of two hours.
After you pass the test and are ready to fly your Drone, there are some key safety tips that you must follow in order to ensure safe flight.
You MUST pay attention to the weather patterns (clouds, wind, precipitation) before you fly. Fierce winds can lead to a wayward Drone and potentially damaged property.
Always check with the FAA on the B4YOUFLY application (available for iOS & Android) to make you are that not flying in an restricted airspace. Failure to do so could lead to major legal issues.
If you are within five miles of a public or private airport, you MUST contact the airport or the traffic control tower to notify them you will be flying within their airspace.
Be aware of your surroundings and watch out for birds, trees, aircrafts, and power lines, or anything else that could collide with your device and leave unfortunate results.
Operate your Drone the same way that you would operate an automobile. DO NOT fly the Drone under the influence of drugs or alcohol.
DO NOT try to “SHOW OFF” your skills by flying in dangerous areas, like closed-in spaces (particularly a dealership showroom). You are essentially controlling a small helicopter and should treat it the same way that you would a full-scale one.
Despite the overwhelming level of caution that one must take when flying a Drone, the resulting footage that can be captured makes the whole process worthwhile. Countless dealerships are using Drone footage today to improve their commercial presence, and it shows in the dynamism of their content. If you master the art of Drone flight, you can take your dealership to the next level and use it to impress your customers and competition.
However, if you’re uncertain about spending the money on a Drone and want to get an idea for how the footage looks and can be applied, then I recommend hiring a professional organization to shoot it for you.
Dealer Video Production is certified in Drone operation and uses the DJI Inspire V2 on a constant basis to provide the best video content for their clients across the continent. If you have any questions about Drone use or would like to inquire about Dealer Video Production’s Drone services, please contact us at email@example.com or call (856) 546-2440 x29.
Last time, we discussed how imperative it is for your sales advisors to recognize, understand and empathize with the emotions of each buyer. Discerning emotions can impact the approach and the sale. And this, readers, directly influences your dealership’s reputation!
Women & Reviews: A Closer Look
Women-Drivers Certified Trusted Dealers have a 92% Satisfaction Rating which is 23% higher than Non-Certified Dealers. How does this translate to your CSI and Retention Rate?
In a BIG way.
Maybe it's time for you to consider what the cost is of not having a marketing plan to women. Learn More Now.
First to Market: Emoji’s Boost Sales & Reputation
Emojis are pervasive in social media, and serve an important purpose. Since emoji’s are so common, people have adapted to both selecting and interpreting the meaning behind them.
Since women rely on dealer reviews 50% more than men, it is important that women not only be able to read reviews by other women, but that can see at-a-glance summary of someone’s experience. Women-Drivers.com added emoji’s to help reviews better identify their feelings. And, it's quick.
How can your dealership capitalize on the use of emoji’s? Ultimately, the emotions experienced go beyond classification within a few emoticons. Emotions make up a large part of a shopper’s experience. This will result in happy, smiley faces on both your customers and in your reviews! And, your bottom line.
Car Buying and Emotions, Part I
Women shop and buy cars for a number of reasons, but regardless of the reason, emotions are involved in every step. The emotional range can start with excitement about the prospects of a new car, to apprehension when signing papers, to frustration when taking a car in for service.
Why Emotions Matter
During the buying process, your customers will experience a range of emotions. You know this. It is important to understand how these emotions ultimately end up reflecting on your dealership.
Women-Drivers.com has tracked the emotions reported by 3,105 women car buyers, and they are:
- Excited 55.7%
- Relaxed 34.4%
- Confident 30.7%
- Apprehensive 30.3%
- Nervous 25.8%
- Overwhelmed 20.1%
- Intimidated 11.4%
- Confused 8.6%
- Frustrated 8.6%
These percentages add up to more than 100% because respondents can submit multiple answers.
It’s key for your sales advisors to recognize and understand these emotions. They are a normal part of the buying process for any large-ticket item. What becomes important is the ability to discern if these emotions are helping or hurting the approach. Savvy advisors ask the right questions to see if the negative emotions can be minimized by assisting a female buyer to feel more comfortable with the decision being made.
For example, a buyer who is overwhelmed or confused can easily decide to stop the process before it is completed. Recognizing these emotions and taking steps to clarify any buyer’s questions can mean the difference between saving and losing a sale. A buyer’s frustrations can be mitigated by streamlining the sales and financing process to eliminate wasted time.
Emotions make up a large part of a shopper’s experience, and smart dealerships will learn to monitor and do what is necessary to keep the emotions on the positive side.
Does your dealership brag about your reputation? Do you constantly explore new ways to improve your interactions with customers and employees?
- Be sure reviews are front and center on your website and social media efforts.
- Don’t limit your reviews to only glowing comments or they will look pre-screened. Show how you readily solve problems.
- Post reviews in plain sight. A bulletin board provides a good way to reinforce your performance. Include reviews where customers will stop and pause, like in your service lounge.
- Encourage customers to write reviews about their visit. Let them know you are using their ideas to improve your ability to deliver outstanding service.
An exploration board is today’s “suggestion box.” An exploration board is very open and inclusive. Dealerships can start the conversation by using “what if” statements to get people thinking about specific topics, like:
- What if each sales advisor sold an additional 5 cars this month?
- What if prospects were immediately comfortable when they walked in the showroom?
- What if today was the top selling-day of the year?
Here are tips for getting an Exploration Board started at your store:
- The board must be presented in a non-threatening way to gain participation from all. Using first names or initials can help keep the suggestions positive. Everyone’s participation is encouraged, and must be met with respect.
- Allow ongoing discussion of the ideas. Bring the exploration topics to staff meetings to encourage continuation of the conversation.
- Pick specific topics from the board and keep the discussion going. Turn suggestions into a new plan, adding metrics and goals. Post the results.
- Reward employees for participation. Let people know that their ideas can be brought to fruition.
Encouraging participation and showing the results makes a difference in your employees’ performance, and ultimately will drive more dollars to your store, boost morale and encourage healthy competition. Customers will feel that you are interested in their feelings and perceptions.
Employees whose ideas matter become happy employees, stay longer and interact better with customers. And that is really something to brag about!
Women-Drivers.com is excited to bring you this white paper on how you can generate up to $6,000,000 in annual sales to women. Now is the time to strengthen your position and turn your dealership into a destination for the fastest car buying segment. The headlines are reading how business is only getting tougher. Is it really going to finish up at another 17.5 million unit year? How will your store stack up?
This white paper enables dealers to train their sales team and help develop new attitudes and behaviors to sell more cars. The bonus tracking worksheet allows GSM’s and SM’s to measure female guests (ups), referrals, and sales to measure this growth over time. CSI and retention are improved, too.
We are so excited to share with you the Women-Drivers.com slick new mobile site, now with emojis.
With the increased participation of dealers and reviewers alike, its paramount that we continue to deliver a website and mobile platform that are more relevant for both.
The company is unveiling an industry-first by allowing the user to choose from five emojis when reviewing their Purchasing, Shopping or Service Drive experience. Emojis are used everywhere and are a quick way of expressing feelings. This supplemental feature allows women to share their overall dealership experience. The five emojis users can choose from when reviewing their Purchasing, Shopping, or Service Drive experience are:
- Snap a Selfie and #TagYourDealership
- Top Certified Trusted Dealer comes up first in zip code search
- Simple to Access Your Dealership
- Easy to use interface to read or write a review
Did You Know?
Women are responsible for influencing 85% of all vehicle purchases. In 2015, 45% of women buyers reported they purchased their car by themselves. Get Your Edge Now
In this week's Episode of Make Money Mondays Dealer Synergy's President, Sean V. Bradley gets passionate about using your CRM the correct way! Most BDCs are set up wrong which means you are not utilizing all of your leads! Separate your CRM into 6 different categories...watch this week's video to find out what those 6 are.
Unprecedented, Yet Simple Tracking Worksheet Helps Build Your Business
There remains an untapped opportunity in your sales plan now to implement. This will make a huge impact just by tracking and measuring a few new metrics.
Follow this: While half of car buyers are women, and that percentage increases to 53% for millennial women. 1 in 3 women out earn their husbands.
But how successful is your dealership in converting women guests? How many guests actually buy? Are you aware how these buyers find out about your store? How can you grow what you don’t track and measure?
Tracking 5 Results to Analyze Success
Using our new worksheet*, track these 5 key stats each week and month:
1. Number of Female Guests: This statistic applies to a woman who comes into a dealership to buy a car for which she will be the registered owner. This applies to a woman shopping by herself, or with someone else, as long as the car is specifically for her.
2. Number of Female Referrals: Inquire at the beginning if the guest was specifically referred by someone else. This someone else could be a friend, a Facebook friend, a Women-Drivers Certified Trusted Dealer or a review by someone online.
3. Number of Female Sales: This is the number of sales to women each week and month.
4. Total Sales: Total ALL sales for your dealership by week and month.
5. % of Total Sales to Women: This is the percentage of sales to women compared to all sales for the week and month. This provides an at-a-glance view of how your store compares to the national numbers for sales to women.
What You Put Your Attention On Grows
When you begin to track these numbers, several things will occur:
1. The attention of the sales team will be drawn to the figures being tracked. The numbers will be front and center. If your conversion numbers are low, you will implement strategies to raise them.
2. Focusing on the numbers elevates their importance. Understanding that the intent is to increase sales to women will increase your overall sales!
3. Tracking referrals helps you understand how well you are being perceived. It’s nice when a customer sees your advertising, but a customer who has been referred already has a positive outlook coming in.
Formal tracking of guest numbers and conversions is the first step toward capturing the valuable market segment of women buyers and becoming a destination dealership in your region.
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.
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