Whew. It’s been quite a few life-changing years. No, I’m not talking about that pesky pandemic. Rather the changes we have seen in the automotive industry. From the lack of product at car dealerships driving everyone to hold on to cars longer, to the evolution of the EV in everyday life, and even driverless cars getting pulled over for no headlights being on. How do you rev up sales when everything has shifted into a whole new selling dynamic?
The same way you take any curve, you slow down, anticipate the turn and look where you WANT to go! Here are some things we found along the way that have helped us stay the course: namely micro-level understanding with a macro-level perspective for retailers and brands within the automotive industry.
- Digital Distribution Channel Funny how before COVID, online sales were useful but not necessarily critical. The adoption of digital sales exploded and shows no sign of slowing down. If your store or brand is not available online, you are losing sales. The biggest growth we’ve seen this year is BOPIS (Buy Online Pick up In Store). It’s important to note this is what your shoppers are using most AND to leverage it to your advantage. What we mean is that a high percentage (over half) of shoppers who go in to pick up something also buy something. So, make sure you merchandise by the pickup spot to gain incremental purchase. Macro trend to micro solution.
- Mind the “Say-Do” Gap A new study out from consumer insights firm Disqo found that 38 percent of consumers inaccurately recall their online behaviors. Disqo’s study refers to this differential as the “Say-Do Gap,” surveying nearly 54,000 consumers about their shopping behavior in the last 30 days, then comparing the self-reports to actual digital behavior data collected over the same 30-day period. The gap between what the auto-shopping consumers said they did versus what they actually did was 53 percent, while the grocery gap was 33 percent and the travel gap stood at 28 percent. Yikes! Over half said one thing and did another. This is important because when looking to create a hyperlocal solution, you’ve got to truly understand what your shoppers are actually doing. Macro behavior with micro-observation. Do you have the tools to do this? We do!
- Innovation of the Industry From computer diagnostic tools to electric vehicles, to cars that are driving more miles than ever, stores, techs and mechanics need to have the latest and greatest gadgets plus information. Being able to increase brand and product knowledge in no time has never been more important. We work hard to ensure everyone on the team, whether on the client or agency side, have access to all they need in one space. Macro access with micro insights. Do you feel you have that set up for your situation right now?
To borrow a quote from Chase Elliott (no relation), “We have a solid group. We just have to put it all together and execute when it counts most.” Yeah, he may have been talking about a race, but we’re talking about executing more effective selling techniques for your team, by knowing every lap is a little different than the one before, but also that every mile needs to be considered.
Long story short: are you set up to win? Or do you need to make a few more pit stops to get back in the race? If so, pull over and contact us at email@example.com. We’ll get you in, out and on-track, in no time!