How online stores revolutionized the auto accessories industry

Posted by Insignia Group on Feb 18, 2014 8:30:00 AM

What did we do before Amazon.com, the Apple store, Overstock.com, etc.?  Even though most of these companies have been around for less than 30 years, it's hard to imagine life without online shopping.  The impact that e-stores have had on the American culture can't be understated.  In addition to killing off stores such as Borders Books, Media Play, etc., the digital store concept has conditioned customers to expect/demand, an online store to be the rule and not the exception.

 

Online Store

   

Like other industries, the vehicle personalization industry has not been immune to the digital store effect. Even though they may be entering  brick and mortar dealership customers are still expecting a digital experience. One of the best ways to fulfill this expectation is by utilizing an online accessories presentation system. Here are 3 lessons that auto dealerships have learned from the online store concept:

1)  4 Distinct Advantages

There are 4 main advantages to selling vehicle personalization via an online platform/system:

A) Financing:  Using the internet platform allows the customer to roll the accessories purchase into the deal, rather than having to pay separately via cash or credit card after they leave the lot.

B) Warranty: Typically, the manufacturer warranty is included on accessories, whereas adding personalization after the sale, or "off the lot", may not provide the same warranty value/protection, and can in some instances, negate the OE's warranty.

C) Product Portfolio/Fitment:  Providing OE and Aftermarket personalization options means more options to sell, and more potential revenue. Additionally the products and fit kits available will fit the vehicle, the same may not be true at a restyler.

D) Customer Convenience:  Customers can drive off the lot with a vehicle customized to their specifications, and with the confidence that their investment is covered under warranty. Customers will enjoy the comfort of knowing that their personalization purchase is included in their monthly payments.

2) Convenience plays a crucial role in the buying process: In the age of fast-food, overnight delivery, and "at your fingertips" ordering, consumers are demanding a buying process that is fast and convenient. Remember the Sears Catalog?  Years ago it was mailed to nearly every address in the US, but it was killed by the digital sales movement. It's easier to point, click, and order than leaf through the catalog, find an item, fill out a form, mail it in, and wait 6 weeks for it to arrive.  Applying this concept to accessories sales, giving your customers the power to see and order their vehicle personalization with the click of a mouse will greatly increase the likelihood of making a sale.

3)  Utilizing a Digital Sales Platform Increases Accountability: The best sales systems/ processes include an accountability feature that allows you to ensure that the system or process is actually being used, identify any weaknesses and areas for improvement.  With a digital platform, you have the ability to track every deal, every day, which serves as a "checks and balances" accountability and allows you to ensure that every member of the sales team is presenting personalization to every customer. At an even more practical level, accountability tracking ensures that you do not lose out on potential revenue opportunities.

As the buyer-seller relationship becomes more and more digital, it is vitally important that businesses meet customers' increasingly high standards for a convenient, seamless buying experience. Utilizing a digit presentation system allows dealerships to meet this expectation and increase profits.

To learn more about an auto accessories sales platform, contact Insignia and start selling today!

 

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