CDK's purchase of Auto/Mate may create a major disruption in the dealer management system (DMS) industry. Here is our take. DOWNLOAD
Carwoo launched a new infographic (below) today that is notable for two reasons: 1) it does nothing to sell Carwoo, 2) it provides valuable observations for dealers about what consumers respond to and when they respond to it.
Carwoo rates consumer/dealer interactions on three fronts: price, distance from the store, and helpfulness. When they controlled for the first two variables, price and distance, they found that those interactions the consumer found helpful had a close rate ten times higher than those that were unhelpful (61% and 6% respectively). That is more of a difference than we would have suspected, but the more interesting thing was the words stood out as helpful: thanks, just, need, and questions. Words most frequently associated with unhelpful responses include invoice, come, and make time.
Kevin Bookbinder of Carwoo offered a simple explanation for the findings, "Even in text, it's not what you say but how you say it." Sometimes just being nice to work with is a significant competitive advantage. Couple this with today's news about Cars.com's launch of BaseDrive, and one can only conclude that dealers are going to have more opportunities than ever before to enhance consumers' preference for the store as well as the traditional angle of enhancing preference for the vehicle. Tone of voice is essential to doing that with video, but text messages convey their own sort of tone of voice.
The inforgraphic also points out the disconnect between when consumers engage with online content and when dealers are ready for consumer interaction. The numbers make sense, but the difference is again surprising. From 7:00 PM through the evening, consumers are logging on and dealers logging off in a dramatic contrast. The infographic suggests, "Maybe it's time for a swing shift?" For those with the ability to be friendly during evening hours, it may very well be that profit awaits.