Digital Dealer
By John Holt
Are you giving your Internet customers what they want on your Web site? Until recently, it's been largely a guessing game for many dealers. But as more and more dealers are putting an increasing level of investment and effort into their Web sites, there has been a greater focus on getting clear answers to this important question.
So what do Internet customers want to see on your Web site? According to a recent research study of 934 car shoppers by Friedman-Swift Associates, it's price. "Far and away, the hot button for shoppers is price," said Judy George, coordinator of the study and senior vice president of Friedman-Swift. "An overwhelming majority of the shoppers, 92 percent, said that prices of vehicles in inventory were the most important items of information to include on dealer Web sites."
Price isn't an answer that all dealers welcome. But with a demand of 92 percent, it's a statistic that's hard to ignore. Information-seeking Internet shoppers are often determined to get all their facts in order before they'll contact a dealer directly. If they don't get the information they want from you, chances are they'll get it from someone else.
The good news is that most of the shoppers surveyed, about 86 percent, did find vehicle prices on the dealer Web sites they visited. However, less than 65 percent of shoppers who requested an online price quote actually received one, which is a key factor in closing a sale.
"When shoppers e-mailed dealers for more information, most dealers (55 percent) responded within 24 hours," George reported. "But 19 percent of dealers never responded to shoppers' inquiries at all."
This is in sharp contrast to customers' expectations. A whopping 82 percent of the shoppers surveyed said that they want a response to their e-mail requests to dealers within one day or less. The survey also indicated that most of these shoppers were serious about buying; 77 percent intended to purchase a vehicle within the next year, while 40 percent were intending to buy within the next two months. The message is clear: If you're waiting more than a day to respond to e-mail or you're not responding at all, you're missing out on quality leads.
These research findings are just the first of many tools that will become available to help you make decisions about your Internet program. Now that most dealerships have a presence on the Web, it's becoming more important than ever for dealers to know what online shoppers are looking for. Because, whether you're on the Internet or standing in the showroom, taking care of your customers' needs is what success is all about.
John Holt is president and CEO of The Cobalt Group Inc., a provider of Internet solutions and business-to-business services to the automotive industry. Friedman-Swift Associates, an automotive market research firm, conducted a survey of consumers who visited Cobalt's DealerNet.com in November and December 1999. Key findings from the research study are posted at www.friedmanswift.com. jholt@dealeronline.com
