Running a Dealership Like Amazon with CRM and Equity Solutions

Running a Dealership Like Amazon with CRM and Equity Solutions

By: Amanda Krause, Marketing Specialist

You may be asking yourself, “how can I run my dealership like Amazon?” Automotive dealerships and Amazon offer completely different products, with Amazon offering everything from clothing to groceries and dealers focusing solely on new and used cars. The industries are different, but when you delve deeper into the overall goals and processes of Amazon and car dealerships, they want the same thing. By utilizing your CRM and Equity Mining solutions, you can begin to run your dealership like Amazon.

A popular feature with Amazon is the “suggested items” feature. Amazon has the ability to track what products a shopper has viewed or bought and makes recommendations on other potential purchases based on the information. These items are often very similar to those viewed and purchased. By showing shoppers what else Amazon has to offer, it increases the probability that the consumer will continue to buy. 43% of retails sales went through Amazon because of features like the suggested items.1

….use that stored information and match a customer to a new vehicle that is similar or the same as the one the individual currently owns with a lower monthly payment.

Your dealership’s equity mining solution can act as a suggested item machine. Within the software, a customer’s information should be stored and include basic contact information in addition to the make, model and year of the car currently being driven. The equity solution can then use that stored information and match a customer to a new vehicle that is similar or the same as the one the individual currently owns – but with a lower monthly payment.

All consumers want the latest and greatest item, whether that be a phone or car. If your staff shows a customer that they can get a newer car with more bells and whistles with a lower monthly payment, it increases the likelihood they will make that purchase. The goal of Amazon and dealerships is the same – to get consumers to convert.

However, Amazon’s goal is not only to make money. The company prides itself in is having a smooth user experience. The retail giant does this by storing contact and payment information so when someone is ready to checkout, it only takes a couple simple clicks. Your dealership’s CRM needs to have the customer in mind even if the customer is not the one using it. It should have the ability to store all the necessary information in an order to make the car shopping process painless. Having to sit in front of a potential customer and search for minutes on end is not something that a shopper should have to endure.

The more that is known about a shopper, the smoother the shopping experience.

The more that is known about a shopper, the smoother the shopping experience. Amazon provides a customer profile and tags various items that the individual frequently buys. This helps the shopping and checkout process. In order for interactions to feel individualized and human, workers must be well informed.2 Your dealership’s CRM should be able to allow information to be updated as people move, trade in cars, buy new ones for other members of the family, etc. Any of these changes update the contact record and make the process for low funnel shoppers much easier.

Having a CRM and equity mining solution capable of these features Amazon prides itself on will make the world of difference for your dealership. To start implementing a smoother car shopper experience in your new or used car dealership, call 877.421.1040.

1.http://www.businessinsider.com/amazon-accounts-for-43-of-us-online-retail-sales-2017-2
2.https://www.fastcodesign.com/1669551/how-companies-like-amazon-use-big-data-to-make-you-love-them

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Customer Relationship Management (CRM), Equity Mining,
automotive crm, Automotive equity mining, dealership crm,

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