Women’s Wednesday #34: Leverage These Emotions to Sell More Cars to Millennials

Today’s news is full of articles about the buying power and habits of the “millennials”, which has an estimated population of 78 million. This Women’s Wednesday is part of a multi-part series we are exploring about women buyers within this segment. Of millennial buyers, 53% are female. Understanding the nuances of selling to this new generation of women can put your dealership in a position to leverage the newest car buyers and truly increase your market share in today’s ever competitive industry.

Our latest study tracked 620 reviewers and sheds light on the similarities and differences between millennial and non-millennial women that will help you create age-specific sales techniques. Both millennial and non-millennial women ranked their satisfaction level with dealerships as very high.

1. While “excited/excitement” is the #1 emotion the buyer felt while shopping for a car, millennials report “relaxed” as being number two, versus “apprehensive” for non-millennials.

Why it Matters and How to Leverage: The newest generation of women reports they are more relaxed and confident when buying a car than previous generations. Why? According to a study by Ameriprise Financial (June 2014), millennial women are more in control of their finances and enjoy making these decisions. Six in ten millennial women (vs. 43% of non-millenial women) reported they learned about finances from their parents.

Percentage of women who learned about finances from their parents

Additionally, younger women are more comfortable using technology to arm themselves with the information they need to make car buying decisions. Astute sales advisors who understand and respect this confidence will quickly gain the trust of their potential car buyer. A good sales approach is to ask questions, respond truthfully, and guide car shoppers through the remaining information needed to make a decision. Above all, assume these women are smart, and have spent a lot of time learning about what they want. While they may have less experience buying cars than older generations, they have a wealth of information at their fingertips that has not been readily available in the past. They are prepared and fully capable of accessing that information while inside your dealership.

2. “Trustworthiness” and “respect” are ranked #1 and #2 for millennials’ reason to buy from a sales advisor. “Understanding” replaces “knowledgeable” as #3. Millennials visit slightly more dealerships to look for a car.

Why it Matters and How to Leverage: Millennial women hold trust and respect as the top qualities they insist on for a sales advisor. They expect their sales advisor to understand them and what they want in a new car. Many millennials are first time buyers and combined with the knowledge and confidence described above, want to feel they are making a comfortable choice. Trust and respect comes from realizing millennial women have done their homework about what is available to them.

Sales advisors will benefit from listening carefully to what their millennial shopper is saying and provide honest answers to her questions. A prepared buyer doesn’t need help with all of the decisions. Learning to perceive where the grey areas are can help accelerate a sales decision. Be there to help, not coerce. And listen, don’t lead.

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Women’s Wednesday #33: Building Smarter Sales Advisors Will Increase Your Dealer’s Revenue

Today’s cars continue to become smarter as they “learn” and adapt to the behaviors of drivers. Cars “listen and learn” about the driver to provide the optimal driving experience.

How can your sales advisors learn to engage, optimize and convert women shoppers into buyers and provide the optimal sales experience? What changes can your dealership make to create an ongoing relationship with this demographic, which is 50% of the national market?

Women shop at 30% more dealerships than men. How do you differentiate yourself beyond all that noise – and create an effective sales process that lasts beyond a car sale?

1. Think emotionally. Emotions matter! Respect and trustworthiness are the top two reasons a woman buys from her sales advisor. While 50% of women are excited about their car purchase, only 30% are confident. Price matters, but emotions carry the day when buying and securing a woman buyer’s satisfaction level.

BREAKING NEWS: Millennial Women Buyers Report
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2. Respect your shopper’s time. Everyone is busy. Your woman shopper may be on her lunch hour or ready to pick up her kids from school shortly. She certainly isn’t window shopping; she is there to accomplish something. If a woman senses you can’t assist her – even if she said “no, I’m just looking” – she will go elsewhere. And, when buying, the average woman spends 3 hours and 20 minutes at a dealership. See where you can save time to make it quicker and more efficient. Be honest, when was the last time you bought a car from your own dealership?

3. Visualize Your Best Dealership. How do you help your sales advisors have the highest possible EQ? How do you see your dealership changing if you proactively educate your sales and service advisors to read your buyer’s emotions? What would happen if you empowered them to adjust to advance a sale? What if your hiring procedures screened for people with high EQs as well as strong sales skills?

With $6 Billion Spent on Insurance Advertising, Are you Getting the Best Rates?

This is a rich, detailed article for any of your buying or adding a car this year.. In fact, I highly recommend for those of you who of you who have had the same insurance agent ‘forever’, to take some time go through the steps recommended here. It may just save you a whole lot of money! Take a closer look at this report from Reviews.com:

Last year, auto insurance providers spent just over $6 billion in advertising to consumers

They bought expensive ads and invested in social media to make sure you understand you’re in good hands, they’re on your side, and 15 minutes or more can save you money on your car insurance.

In 2011 alone, about 9% of policyholders switched their car insurance, and 27% admitted to shopping around. Consumers are being bombarded with ads that promise low rates and great service — but how do you know which insurance company is really going to be there for you when you need them?

As consumers, we rarely think of our auto insurance as anything other than a monthly expense. That often means picking the cheapest insurance and using that. But car accidents aren’t an “if” — they’re a “when.”

Statistically, the average driver will be involved in an accident every 18 years, which means you’re going to need to use it at least three times in your lifetime.

When that day comes, you need to be sure your car insurance provider is going to be there for you. Read more here…

Women’s Wednesday #32: 3 Ways to Ensure Women Shoppers Return to Your Dealership to Buy

Surveys indicate the top reason women do not purchase at a dealership on their first visit is they are still looking. However, only 4 in 10 of those “shoppers” who leave a dealership without buying a car will ever return to the dealership. Given that women shop at 30% more dealerships than men, it is important to create an environment that welcomes a return visit. Here’s how:

1. Establish trust and respect. Women place “respect” and “trustworthiness” as the top two reasons to buy from a sales advisor. Treating a potential buyer with respect and establishing trust at the onset of the sales process will create a positive environment and relationship, which increases a woman’s confidence in her buying decision. She will remember that trust and it will create a strong reason to return to your store.

2. Understand what a woman buyer is looking for. During the initial visit, a sales advisor should ask the right questions to understand her priorities. Are certain features non-negotiable? If the right model and features are not available right away, how quickly can it be located? Taking the extra step toward finding the right fit can bring a buyer back to the showroom.

Why Dealer Review are so Important to Women
– Why You Want to Showcase Your Reputation

3. Create an efficient buying process. Women nationally report the average time spent purchasing a vehicle is 3 hours and 20 minutes. Reducing this time lets customers know you respect their time and creates a positive feeling that will encourage return visits, positive reviews and referrals. So can a 3-Day Guarantee Return Policy; it’s all about making customers feel safe, confident and comfortable in doing business with your store. Women have different selection criteria than men when deciding on a car. Understanding the differences can help women reach a decision more quickly, making it less likely she will feel the need to visit a competitor.

Ready to Sell More Cars to Women?
Right now get a FREE TRIAL to the Women-Drivers.com Marketing Program. CLICK HERE to have a dealer advocate contact you with details.

Women’s Wednesday #31: Why Do Women Visit More Dealerships Than Men?

Women visit 30% more dealerships than men when buying a car. Several factors contribute to this variance. According to KBB, women are twice as likely as men to be undecided about which car they want. Add to this the fact that women are less confident (38%) about car buying than men (58%), and take longer to make a decision; 75 days for women vs. 63 days for men.

The tendency for women to shop at more dealerships, coupled with different buying criteria, can be turned into an advantage for any dealership willing to lean in and take the right steps to meet the needs of this emerging segment of car buyers.

4 Ways to Attract Women to Your Store
Check this out — 60% of women do not purchase from the dealership brand closest to their home.

1. Women rely on car dealership reviews 50% more than men and they prefer reading reviews written by women. A dealership will benefit from encouraging happy and satisfied women clients to write reviews. This has an additional benefit, because women who are satisfied will leave a higher-scoring review.

2. Nearly one-third of women report their dealer’s website as “unhelpful”. Making sure your website appeals to women will keep them on the site longer and help speed a buying decision. This means knowing and highlighting what matters to women, such as durability, safety and economy, not just MSRP.

3. Women rank respect and trust at the top of the list when it comes to working with a sales advisor. Customer excellence ranks higher in a purchase decision than finding the best price or deal. Creating a comfortable environment that establishes trust and respect makes the difference for sales now and in the future.

4. Women now account for half of car purchases and influence up to 80% of auto buying choices. In a study by University of Michigan’s Transportation Research Institute, women drivers now outnumber male drivers 105.7 million to 104.3. Understanding these statistics and reflecting them in your sales approach and process are important to foster an environment of trust and respect.

Ready to Sell More Cars to Women?
Right now get a FREE TRIAL to the Women-Drivers.com Marketing Program. CLICK HERE to have a dealer advocate contact you with details.

Women’s Wednesday #30: 5 Ways to Deliver an Outstanding Service Drive Experience to Women | Lexus 300h Review

Women are responsible for two-thirds of the vehicles brought in for repair. Dealerships who understand this and seek to deliver the ultimate customer experience will reap the rewards at their service drive.

Offering top-notch car services in this department is critical for retaining women clients, as well as for up-selling a new or leased car to them and their family in the future. For a complete dealership experience, here are 5 key features of a women-friendly service department.

1: More Women: Women make up only 1 out of every 5 employees at auto dealers. Adding more female service advisors makes many of your female (and male) customers more comfortable to ask questions about the repair.

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There are always two sides to everything, right? To keep our car reviews innovative and well-rounded, we are providing you with not just one, but two points of view on the same exact vehicle – Her + His perspectives.

2: Use Technology to Educate: It is essential to adopt modern technologies, instead of just focusing on communicating a repair verbally, especially with women who may be cynical and not trusting about what repair is being recommended.

Use mobile apps, expert illustration content and web based tools to visually explain car repairs with real-time photos and videos, like ClearMechanics.com or others. By presenting hard visual evidence, women will understand repair needs in a quick, clear manner.

3: Comfortable, High Tech Lounge Area and Courtesy Vehicles: Women often wait at the dealerships during repair work. To ensure they feel comfortable and make good use of their waiting time, go beyond just having seats and a TV in the waiting area. Make sure the lounge area has:

  • Comfortable seating
  • Wi-Fi connectivity
  • Play area for kids
  • Impeccably clean restrooms
  • Coffee, Fruit, Water, Soda

More importantly, provide the #1 requested concierge item from women: a courtesy vehicle if their car is going to be in overnight. What will that afford your dealership? Loyalty from moms, business women, single women, divorced women, widowers, etc., who can now independently get themselves home and don’t have to rely on family or renting a car while their car is being serviced.

Don’t leave this for the luxury brands to offer. Regardless of what flagship brand you sell, market the convenience and ease that your dealership delivers.

4: Expand Hours: NADA DATA reports most service department are open 56 hours a week compared to 80 hours on average for a specialty car repair chain store. To deliver top-notch service, consider expanding servicing hours. Research shows that 3 in 10 households are run by single moms, highlighting how women are juggling work, home and children. Getting to the dealerships 3-4 times a year is not the easiest thing to do during the hours of 9 – 6pm. By offering flex hours, women can bring their car to you and you retain more customers.

5: Don’t Just Hear. Listen. Everyone likes it when they are listened to. Put your best listener in the service drive to hear what women say – and, what they don’t say. This department is critical for maintaining retention. How will you know when 4 in 10 women leave your dealership and DON’T return? An unhappy woman will pay the bill, leave your building, and you will never hear from her again.

By listening to what they have to say, women naturally feel more empowered and relaxed. They know that once they have communicated their opinion to the service provider, they will be served better.

Ready to Sell More Cars to Women?
Right now get a FREE TRIAL to the Women-Drivers.com Marketing Program. CLICK HERE to have a dealer advocate contact you with details.