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Ever since the first car dealership opened, dealers have understood the emotional impact of “the walkaround.” As consumers move through the buying cycle, they get to a point where they don’t just want, but need to experience a vehicle that they are interested in. In the past, most consumers would visit the dealership in the evenings, when the lot was closed to avoid “being sold.” But driven by their need to experience the vehicle in person, they still came, day and night.
Well, believe it not, nothing has changed! Consumers still have an uncontrollable need to experience a vehicle first hand as they move through the buying cycle. The only difference is that the initial experience takes place online via a Vehicle’s Detail Pages (VDP Pages). Imagine, however, if a dealer could put one of their vehicles (or their entire inventory) in every mall, venue and every other busy consumer traffic area in their PMA, at no additional cost. Now image if they could have a salesperson at each and every location to talk to customers 24 hours a day, and 7 days a week.
While placing a vehicle and a salesperson everywhere in the physical world isn’t practical for dealers, it’s absolutely possible in the digital world. In this age of online shopping, one of the most important assets that any dealer has is their inventory’s VDP. Chances are very good that car buyers who land on a dealer’s vehicle display page are very close to buying. Every vehicle in their inventory should thus be displayed to its best advantage, and on as many potential touch-points that a car buyer is likely to visit as possible.
Let’s face it. Most of your in-stock vehicles are competing for consumer interest. Many dealers choose to attract consumers via low prices, sacrificing profit for the sale. Smart dealers understand that high quality, visually appealing inventory marketing will get a shopper emotionally attached to a vehicle. It will motivate that shopper to want to visit their store to test drive “their” car long before any “price” motivation will. The fact is, once a shopper begins forming an emotional attachment to a vehicle, you no longer have to be the lowest price to motivate the shopper to visit your store.
Nothing can generate a higher level of emotional attachment than a quality video presentation of your inventory, nothing. The best part of the equation is that your shoppers actually want to see videos of the vehicles they are considering. In fact, video content is quickly becoming the media of choice for consumers. 85% of automotive shoppers stated that they watched a video of a vehicle during their car buying experience, and half of them (49%) take action immediately after watching. While dealers are sure to have nice websites, great pictures of vehicles, attractive newspaper ads with calls-to-action, many neglect the fastest growing type of marketing (and the type of marketing that will have the biggest emotional impact) – video.
Think about it like this, your online advertising should be focused on motivating a shopper to “visit your dealership”, not “buy a vehicle”. Price based motivation is asking the shopper to commit to a purchase before they’ve ever even visited your store or test driven the vehicle. Meanwhile, a video’s power is inherent in its ability to involve multiple senses when displaying the vehicle to an online car shopper. Having high-quality videos will allow shoppers to experience your inventory at the highest level possible online, making it more likely for a shopper to become emotionally attached to a vehicle and have an uncontrollable need to visit your dealership to take a test drive.
Having the ability to then place that video on multiple touch-points throughout the buying cycle increases the odds that the consumer finds, views and chooses your vehicle over your competitor’s, regardless of whether it’s the lowest price.
Improve the quality of your inventory marketing to potential customers and you will see more interest, higher conversion, more profit per sale and a faster turn rate. Sell the car, not the price.