Covideo x iPacket Summer Series – Episode 2: Trust

Title slide reading "Covideo Dealer Series + iPacket Automotive Summer Series"

On the Covideo x iPacket Summer Series, we’re doing a deep dive into automotive industry trends and the most important values for dealerships to consider to boost customer loyalty. In our first video, we discussed the importance of transparency. In episode two, we’re talking about trust.Dustin Baumis, Covideo’s new VP of Partnerships, and Lauren Moriarty, Sales Director at iPacket, teamed up for this enlightening conversation! Trust is among the most important values for dealerships to bring to the table. Check out the video to learn more.

Covideo x iPacket Automotive Summer Series - Episode 2: Trust

See our other iPacket Summer Series episodes:

How Technology Impacts Trust

As more technology becomes available, dealerships can be more efficient, reach a broader audience, and provide more details on a vehicle. However, there is always the risk of losing some humanity—and therefore, trust—in a sales process. And it’s often this human element that sets your dealership apart.Our experts suggest giving buyers all the tools and education they need to make an informed decision while still giving them an excellent customer experience. To gain trust, you have to meet a customer where they are on their journey. That might mean that they have done extensive online research. As Dustin points out, this attitude is especially prevalent for Millennial and Gen Z buyers, who like to be self-taught. These age groups are also more likely to enjoy influencer content and watch the buying journey of their peers. Dealerships can serve up this kind of content as well!Covideo and iPacket are great tools for mastering the one-two punch of information and personalization that builds trust. iPacket takes the guesswork out of car shopping by keeping all details and documents on a vehicle at a customer’s fingertips. Meanwhile, Covideo gives you tools for salespeople to make personalized videos that show off vehicles, check in for appointments, update on repairs, and more.

Perceptions of Dealer Trustworthiness

It’s no secret that car salespeople may face negative stereotypes from their buyers. As a matter of fact, MAXDigital found that dealers highly overestimate trust by their customers—70% said their customers show them a high level of trust. However, a Gallup poll found just 9% of buyers have a high level of trust in car salespeople. This is a huge discrepancy! So, what can dealerships do about it?A car is often the second-largest purchase someone will make in their lifetime, but for many, it’s a necessity. So, the customers are out there, but a dealership’s main challenge is standing out from the competition. With the internet, you’re not just competing with the dealership down the street, but dealerships all over the country. (We work with plenty of dealerships who have customers crossing state lines to purchase from them because of a high level of trust in their customer experience!)It’s all about experience! Presenting facts on your vehicles in a way that is tangible and inspiring can change perceptions. iPacket is an excellent tool for better transparency and to increase your reputation as an honest salesperson.Harvard Business Review found customers will spend about 140% more money on experiences they enjoy. We can create better customer experiences by understanding where a customer is on their journey, working on their timeline, arming them with information, communicating consistency, and nurturing an ongoing relationship.Unfortunately, a negative experience is even more impactful. People will tell an average of nine people about a good experience, but an average of 16 people about a bad experience, according to research from Glance. Building trust with one person has a ripple effect on your reputation.

Building Buyer Trust

People are going to buy from people they like and trust—simple as that! When buyers don’t feel confident that a dealership has their best interest in mind, there are plenty of competitors they can visit. But if you give them a great experience, you can continue to serve them for years to come, as well as anyone they refer to your business.Stay tuned for more of our Summer Series with iPacket! As always, we love to hear from you on how you’re addressing sales and marketing challenges at your dealership.Curious about how thousands of dealerships are increasing customer trust with video? Talk to one of our experts about Covideo Dealer Services today.