Last Modified: July 5, 2023
Written By:|Published Date: May 20, 2020|3 min read
Adapting to Survive: The Automotive Industry
In 2019, 72% of car buyers said they would visit dealerships more often if there was a better car buying process. People want to see the car in person and take it for a test drive without being pressured to make a final decision on the spot. Therefore, in order to survive during the digital age, you have to change your approach to meet buyers where they’re at, without sacrificing the personal touch they expect and the facetime you need. What’s the best way in doing so? Using personalized video for business.
To illustrate this concept of adapting your traditional approach, we’re going to explore a real-life scenario—the changing ways we view and consume content—and apply it to the automotive industry. Let's begin. Blockbuster: Blockbuster was the king of video content, and when they were offered the opportunity to acquire Netflix, they declined, seeing it as a niche player in their industry. Look who’s king of the court now.This scenario is comparable to a dealership that is resistant to change and writes off video as a fad. They continue selling in their traditional style, failing to recognize that dealership visits and sales are on the decline. Redbox: Then, there’s Redbox, who saw the need for convenience and efficiency, and placed movie rental kiosks at the entrance of local, everyday shops. Families could grab their groceries and pick out a movie for the night, all in one place and for a few extra dollars. It was quick, easy, and affordable. Compare this to Carvana kiosks. The business has made it convenient to purchase a car, yet have removed human interaction completely. Netflix: And lastly, there was the survival of the fittest: Netflix. Netflix originated as a rent-by-mail DVD service but changed its business model as consumer behavior changed and pivoted towards a personalized, digital experience. Mail rentals are now set to end in fall 2023. Netflix is so well-known that its easily recognized simply by the letter “N.” Consider Netflix the savvy dealer who focuses on adapting to accommodate buyers by digitizing the car buying experience. You decide to send a personalized video directly to your buyer showcasing the vehicle they inquired about and helping them navigate their car buying experience, all from the comfort of their home, blending convenience and a personal touch.Be Netflix.
Survival of the flexible
"With car buyers making more decisions online and ahead of time, by the time they arrive at the dealership, many of them are likely ready to buy. As a result, dealers should hone their online marketing and sales strategy to help buyers get to ‘yes’ online.” - Cox AutomotiveBy incorporating video marketing strategies into your sales outreach, you’re including the best aspects of the digital experience, without losing your greatest asset: you and your people. It’s your team, the experience you offer, and the relationships you’ve built with customers that differentiate yourselves from your competitors.
Why change is necessary
The million-dollar question, "How do I get buyers in my dealership?" actually has a relatively simple (and affordable!) answer: personalized videos. Use video marketing throughout all stages of the sales process, from your first response to a new lead to the final thank you after purchasing. This immediately puts a face to a name, making you more human, relatable, and trustworthy—rather than appearing to be a pushy salesperson. It creates a positive first impression from the first interaction a buyer has with your dealership, increasing your chances that they’ll choose your dealership over the number of options they have in town.Video also gives sales reps the ability to show the customer the vehicle they’re interested in and all of its amazing features. In the auto world, seeing is believing. Telling a customer about the new speaker system and smooth leather seats isn’t nearly as enticing as them seeing it for themselves—right on their phone or computer.Sending the customer a personalized video recorded specifically for them, improves the car buying experience and is the driving force behind getting a buyer to choose your dealership to visit and make a purchase.
How to get buyers in your dealership
Start making personalized videos today by trying Covideo Dealer Services for free or speaking with one of our automotive strategists. Start creating personalized video messages that help your team be flexible, adapt, and thrive during today’s changing sales landscape.