l buyers its just a matter of time until they do and who is going to stand out in there mind when they get to the buying point? Thats the beauty of I'm A Looker...
I'll give you a brief scenario...
Salesperson: "Welcome to ABC Motors are you here for our sale"
Customer: "No thank you I'm Just Looking"
Salesperson: "Great!!! We have a new way here at ABC Motors for you to look with out being bothered! Follow me and I'll get you all set up"
Customer: "Really I can look without being bothered"
Salesperson:"Thats right! Come on, I'll show you"
Salesperson: "Now remember if you need my help just bush the more info button and I'll be right there"
Now the customer has scanned their drivers license to check out the PSD device and you have, in a customer friendly way receive all there info and the PSD will give the customer a feature / benefit presentation at the vehicle.
Throughout the presentation the customer is prompted to push the "more info" or "I'm ready for a test drive" button and the salesperson who checked out the device will be brought back into the picture.The videos are designed to drive them back to the salesperson but this time the customer is inviting them into the sales process vs the salesperson prying into th customers shopping process.
While the customer is looking at the inventory with the PSD, the PSD is communicating with the PCM1000 at the sales desk and recording all the activity i.e... vehicles, options looked at and how long they were looked at, to pin point the real interests of the customer.
This information can be used to assist in the close!
Here is a different scenario...
Service Writer: "Mrs. Jones I have noticed that your Ford Taurus has been in service quite a bit lately! Rather than sitting in our waiting room why, don't you take our new I'm A Looker PSD and take a look at the all new Ford Taurus."
Mrs Jones: "That's Ok I dont want to be bothered by a salesperson!"
Service Writer: "Thats the great thing about this, You can look without being bothered. If you need help just press the button. By the time you get done your vehicle should be out of the shop.I'll see you when your finished"
This is only the tip of the iceburg when it comes to the features "I'm A Looker" offers!…
ulture"? Because I was somehow blessed and taken as her husband by the accomplished and published Feminist Scholar and Gender Studies Professor Dr. Elizabeth Archuleta, I have been exposed to various theories, attended conferences, lectures, read books and delighted in over ten years of conversation with a fully accredited Professor who currently is Faculty and Research Fellow at one of the largest Research University based Gender and Women Studies Departments in American academia... For that reason, among others, I certainly respect the widely disparate opinions in regards to this topic and the specific blog I posted... However, I will gladly debate the issues raised in a forum moderated by Professional Feminists (ie: Feminist publishing and teaching is their paid vocation) who are PhD's and current faculty at an accredited Women's Study's University program, and am confident that those who have posted diatribe and outrage at the inappropriatness of this Top Ten Sexiest Women list will exit such a debate both humbled and perhaps with a different opinion.
The reality is that the very people who would have lists such as this banned, removed and the authors punished are cut from the same cloth as those that perpetrated the Salem Witch Trials during the early years of European colonization of North America... Which was done as a means of controlling women and ensuring their power was mitigated and neutralized from further development.
I would be proud to see my wife, any of my sisters or either of my daughters featured on a list like this one. And so would most people who celebrate and admire feminine strength, beauty and professional accomplishments... Today, I am proud to have been described by several educated and highly respected feminist authors as a "Feminist"... Ten years ago I was uncomfortable when I heard this term used to define my perspectives and track history of decisions made and actions taken, because I thought a person had to be female to be described as such. But now I know better and understand that men who are comfortable in their own masculinity and gender role as a man, are the men who are most supportive of the Feminist perspectives that impact the women, mothers, daughters, sisters, aunts and nieces they love and who helped develop their own healthy and balanced sense of what roles and responsibilities come with being a man that women and men respect.
I am proud to congratulate the ten women who were selected to be on this list of professionally accomplished, beautiful and confident enough in themselves to be considered "Sexy" social media professionals... Well done ladies! I am certain the men in your lives who love and respect you are also proud of this and your many other accomplishments!…
ruly understood what we actually do based upon facts and not erroneous suppositions, then you would have a different opinion here because you're a smart guy. Fortunately or unfortunately, this is probably the same reason why many of the top folks at JD Power, PIN, ALG, Acxiom, Experian, Polk, Urban Science, Consumer Reports, AMEX, B of A, USAA, etc., as well as the top dealer operations consultants in the industry, the top CRM companies, the top dealer groups, etc. whom have reached out to me and others in recent days, and have discussed these threads behind the scenes, have found this one-sided debate to be interesting, intriguing, flawed, completely missing the point, and painting the retail world into a bad light. IMPO, to spend this amount of time and energy on attacking a single company that helps facilitate the sale of just 1.5% of all new vehicle sales through only 18% of new vehicle franchises is remarkable; to put it another way, 98.5% of vehicle sales are made outside of TrueCar and our 100 blue-chip partners. If 1.5% of profitable sales (a fact) to dealers by customers seeking a different way of doing business (another fact) is going to destroy the entire new car dealer network, then you'll have to explain how exactly that would happen.
I was selling cars and running stores when Edmunds had TMV pricing, when KBB provided similar invoice/cost/pricing information, and so on, and 1) I never had a problem with it because we knew how to sell value and were damn good at it, and b) I don't recall anywhere near this level of consternation when Edmunds, KBB, et al introduced cost and pricing information to the public. I actually liked it because it helped me build more credible pricing context during negotations, helped curb overnegotiation by customers (that is the beauty of transparency in a world where consumer perceptions are so inaccurate relative to reality in terms of pricing and margins), and helped me close deals. I also don't recall anyone ever making these same calls-to-action and attacks when KBB recently announced "Reality Check" on their site, which gets FAR more visitors than TrueCar.com. Strange. So Edmunds, KBB, and others like us have dodged this bullet. Kind of makes you wonder what's really behind all this...…
asked consumers the question "If you bought a $20,000 car and knew with certainty that you purchased it at the dealers cost, what would be an appropriate tip or profit to the dealer?" The answers grouped pretty tightly around $1,800.
The problem is that consumers have no price confidence and TrueCar succeeds because it provides the consumer with price confidence. We can quibble about how TrueCar should be paid for this service but I have no concerns that the regulatory questions being raised will be resolved favorably for TrueCar.
The bigger challenge is that dealers do use price to compete with each other and price pressure is painful. TrueCar has been working with its dealers to develop a better way of presenting the qualitative picture that it believes represents most of the consumer decision on where to shop. Things like location and service matter a lot. TrueCar is new and the value proposition has captivated consumers in such a big way that dealers are noticing it before the Company can evolve t its optimal state. The company is making changes to address dealer concerns about price as a sole factor of differentiation and from what I have seen, I believe the changes being made will soothe many dealers (they will never all be happy).
Unfortunately, only dealers on the network are participating in this process. The expert sale consultants on this blog have good ideas and have been invited to discuss them but they decline to engage in a dialog with the team on how to improve the dealer experience.
I did not give you a direct answer to your question on what is fair margin. It depends too much on brand, geography and market competitiveness. I will remind you that dealers set the price on TrueCar.
What is the fair value of TrueCar's service? My approach would be to look at your total marketing spend and the incremental unit volume it generates. Take this price per incremental unit and compare it to the $300. plus the reduction in gross on a TrueCar deal and see which works better for you. Most dealers maintain multiple sources for attracting new customers and I believe TrueCar should be one of them. The beauty of TrueCar is that it is a tool for a dealer where you know exactly what it costs to acquire a customer AND you can control this cost and volume by changing pricing at a granular level.
a concern as we have contingencies in place based upon any challenges that have arisen in the past. For example, if a CMS makes adding content challenging, we can send the files directly to the provider. We are well-prepared to handle most obstacles. There are always curveball potentials, but as with any nimble company we'll need to problem solve and adapt.
As far as other website vendors seeing us as a threat because of competing products, it comes down to honor and fair play. When we have a client that works with another website vendor on a client, we may not like it but our clients' needs supersede our desire to be the single solution. Our experience working with other vendors over the years has never shown any significant amount of push back. Thankfully, this industry is one where the vendors play fair with one another even if it's reluctantly.
@David - The beauty in the way that Dealers United has positioned their offering is that the deal must be locked in during the "deal period" but dealers have 12 months to activate it. In other words, if they have an SEO contract that doesn't end until January, 2013, they lock the deal in now and then it starts going into effect once they give us the green light when their pre-existing contract is over.
@Manny - Dealers are often forced to mix and match offerings based upon expertise. Someone who likes one web provider's website platform, our SEO, and PCGs retargeting program have the ability to make the decision that's right for them. As Brian will attest, there are several dealers with that exact makeup right now working with us on some things, PCG on others, and another vendor for something else. There are advantages to working with a single vendor offering all of the products that a dealer wants but there are also disadvantages. Dealers United is designed to help individual dealerships and small- to mid-sized dealer groups select a vendor they've researched at an unprecedented price.…
Welcome to Automotive Digital Marketing
Please use the "Sign Up" link above to complete your registration form and become a member of the industry's leading Automotive Marketing and Internet Sales Professional Community. ADM members have access to resources, connections and private events that provide them with a competitive advantage.