CDK's purchase of Auto/Mate may create a major disruption in the dealer management system (DMS) industry. Here is our take. DOWNLOAD
Did you ever wish you could read a woman’s mind to know exactly what car and price range she is interested in when she enters your dealership? Wouldn’t that make the selling process easier? Recent industry numbers highlight the power of women buyers and demonstrate what value they have to your dealership’s bottom line.
Let’s take a look at six characteristics that will assist you and your staff relate and understand your female buyer better.
1. Browsing – The Silent Statistic
The browsing experience at the dealership is one of the top indicators whether a woman will actually buy from you. If a woman comes into a dealership and has a good exchange, feels respected and listened to - even if she is not ready to buy, there is a very high probability she will return. However, if she comes into a dealership and does not have a good experience, she will definitely not return. You may “know” this, but do you know the quantitative revenue impact of lost sales due to a negative browsing experience in your store?
It remains absolutely critical for your staff to treat each prospective customer with the utmost respect. Answer all questions and listen for concerns – including what she is not saying. No arrogance or strong handing is required – this type of behavior by a sales advisor results in a defensive customer one hundred percent of the time. Treat her like your mother – really. Talk less and listen more is the rule of thumb.
2. A New “Face” in the Audience
With marriage being postponed until later, coinciding with marriage rates dropping in the US, the new face of a CPO buyer also includes single women or single parent households with children. According to the U.S. Bureau of Labor Statistics, 29.5% of all households are run by single parents. Most single women and single parents are on a fixed income and the only breadwinner in their household, making many a perfect candidate to buy CPO.
3. The Ideal Car Features for Women
When female CPO shoppers come into a dealership, they are usually looking to buy. They want:
4. Value Women’s Time
These CPO shoppers are busy women who guard their time closely. If they find themselves in a car dealership, they are a serious buyer, not someone shopping for fun. Be sure to take their buying process seriously.
Unlike her ‘traditional’ male counterpart, rarely do women revel in the gamesmanship of buying a car. The days of being “held hostage” at the dealership for hours, simply won’t fly anymore. We believe that dealerships that employ a “Buy a Car in 90 minutes” promise will see an increase of women and men customers visiting their store.
5. Women Wants and Demand Trust from Sales Advisors
When a woman shopper enters a dealership, she already realizes she has lots of other options available to her; but there she is in your store. What is essential from the get-go is having trust in her dealer. And, trust and being trustworthy all starts with the sales advisor. Sales advisors have all the power – and, all the ability to muff it.
Women-Drivers.com reviewers listed these top four qualities they look for in a salesperson:
6. Time & Research – A Female CPO Shopper’s Greatest Assets
Women are information-seekers. They love shopping for cars on the Internet and they do a lot of research online. When they print out information from the Internet and are armed with quotes and information gained online, they are more confident in their car buying decisions.
The effect that the Internet has had on their interactions with car dealers doesn’t stop when she buys a car. Most women will write a review about their experience – your dealership may need to incent them by offering a coupon on future service work. It’s a win-win for your dealership. In order to get the coupon, a review must be written; the coupon or discount on future work ensures to a higher degree she will bring her vehicle to your service lane. Brand reputation sites and reviews play a big part in your dealership marketing to future CPO prospects. Be sure to have the sales and service team actively ask for reviews