The profile of the modern car buyer: How to adapt with an "All-in-One" Software
23 Jul 2024
In the dynamic world of the automotive industry, understanding the profile of the modern buyer is essential for the success of any dealership. Buying habits have evolved significantly in recent years, driven by technology and changing consumer preferences. In this article, we will explore how the profile of car buyers has transformed and how dealers can adapt using an effective automotive CRM.
1. The new profile of the modern car buyer
The car buyer of today is very different from that of a decade ago. According to recent studies, the typical car buyer profile in Spain has an average age of 53 years, although this figure drops to 44 years for some specific brands. This modern buyer is characterized by:
Preference for SUVs: There is a clear trend toward sports utility vehicles, with 30% of buyers looking for a high driving position.
Longer buying process: On average, buyers take about 8 and a half weeks to make a final decision.
Influence of the environment: 9 out of 10 buyers recognize that the opinion of their close circle greatly influences their decision, consulting an average of 8 people before buying.
Importance of design: In the last 15 years, concern for vehicle design has increased from 29% to 41% among buyers.
Effective lead management is crucial to attract and convert these modern buyers, who are more informed and demanding than ever.
Furthermore, the modern buyer is increasingly interested in sustainability and energy efficiency. Many are looking for cars with hybrid or fully electric technologies, which represents a significant shift in market preferences.
2. Changes in the vehicle buying process
The process of buying a car has undergone a radical transformation. The main changes include:
Online research: 90% of buyers conduct online searches before visiting a dealership.
Fewer dealership visits: Buyers visit an average of 2.6 dealerships before making their purchase, a significantly lower number than in the past.
Greater importance of digital experience: 72% of buyers watch online videos about cars and 63% search from their mobile phone.
Consideration of eco-friendly options: 38% of those opting for electric or hybrid vehicles do so motivated by circulation restrictions in large cities.
These changes require dealerships to digitize their processes and adopt tools like an automotive CRM to remain competitive.
The digitization of the buying process has also led to an increase in the importance of online bookings for dealerships, which have become a crucial entry point for transactions.
3. The importance of the digital channel in the car search
The digital channel has become the preferred travel companion for Spaniards intending to buy a car. Some relevant data:
86% of buyers actively search for information about cars online at the moment of deciding which is the best car for them.
43% of searches on mobile devices are perceived as very valuable by car buyers.
81% of buyers take action after watching videos about a car, ranging from visiting the dealership's website to booking a test drive.
The online presence of dealerships is crucial. A well-designed website for the dealership can make a difference in attracting potential customers.
It is important to highlight that the process of looking for a car has become more complex and multifaceted. Buyers not only seek technical information but also opinions from other users, price comparisons, and financing options. Therefore, dealerships must offer a complete and enriching digital experience.
4. How to adapt the sales strategy to the current buyer
To adapt to the new profile of buyers, dealerships must:
Strengthen online presence: Develop a robust digital marketing strategy that includes SEO, SEM, and presence on social networks.
Offer an omnichannel experience: Ensure a seamless transition between the online and offline experience for the customer.
Personalize communication: Use data to provide personalized recommendations to each potential customer.
Implement digital tools: Adopt online configurators, chatbots, and other tools that facilitate interaction with customers.
Train staff: Train the sales team in new technologies and how to approach a more informed customer.
Effective lead management is essential for converting online interest into real sales.
Additionally, it is crucial to implement remarketing strategies to maintain the interest of potential customers throughout their decision-making process, which as we have seen can extend over several weeks.
5. Benefits of an automotive CRM for dealerships
An automotive CRM is an essential tool for adapting to the new buyer profile. Benefits include:
Centralization of information: All customer data and interactions are stored in one place.
Tracking the customer journey: Allows tracking of each contact point between the customer and the dealership.
Process automation: Facilitates the automation of repetitive tasks, freeing up time for the sales team.
Data analysis: Provides valuable insights into customer behavior and the effectiveness of sales strategies.
Improving customer experience: Allows offering a more personalized and efficient service.
A specialized CRM like DealCar can be the ideal solution for dealerships looking to optimize their processes and adapt to the modern buyer.
An effective automotive CRM can also help dealerships manage their leads better, ensuring that no sales opportunity is lost in the process.
6. Key functionalities of a dealership management software
An effective dealership management software must include the following functionalities:
Inventory management: To maintain precise control of vehicle stock.
Lead tracking: To not lose any sales opportunity.
Digital marketing tools: To create and manage effective campaigns.
Integration with third-party platforms: To synchronize data with other systems used by the dealership.
Reports and analysis: To make data-driven decisions.
Appointment and test drive management: To facilitate scheduling visits to the dealership.
Financing module: To streamline vehicle financing processes.
Efficient inventory management is crucial for the success of a dealership, and good management software can make a difference.
Additionally, a modern dealership management software must include tools to manage car sales on Google Shopping, a platform that is becoming increasingly relevant for online car buyers.
7. The importance of financing in the buying process
Financing plays a crucial role in the decision to purchase a vehicle. According to recent studies, more than 80% of car buyers in Spain opt for some type of financing. Therefore, it is essential for dealerships to offer flexible and attractive financing options.
An advanced automotive CRM must include tools to manage and streamline financing processes. This not only improves the customer experience but can also significantly increase sales closing rates.
Car sales with financing require a specialized approach, and having the right tools can make the difference between closing a sale or losing it.
8. The future of car sales: towards a hybrid model
The future of car sales points towards a hybrid model that combines the best of the digital and physical worlds. Dealerships must prepare for:
Digital showrooms: Physical spaces where customers can interact with advanced technology to explore vehicles.
Virtual and augmented reality: To offer immersive experiences of vehicles without the need to have them physically present.
Virtual test drives: Allowing customers to experience the vehicle from the comfort of their home.
Virtual sales advisors: Who can assist customers at any time and from anywhere.
To implement these innovations, it will be crucial to have a robust and flexible dealership management software that can adapt to these new business models.
Conclusion
The profile of the modern car buyer has evolved significantly, and with it, the way dealerships must approach sales. The digitization of the buying process, the increasing importance of online research, and the need for an omnichannel experience are realities that dealerships cannot ignore.
The implementation of an effective automotive CRM and an advanced dealership management software are crucial steps to adapt to this new landscape. These tools not only allow for better management of leads and inventory, but they also facilitate the personalization of the customer experience, an increasingly important factor in the buying decision.
Dealerships that manage to adapt to these new trends, offering a smooth and personalized buying experience both online and offline, will be the ones that succeed in the competitive automotive market today and in the future.
