Building value into a consumer’s vehicle is important to creating a quality customer experience. These values need to be as honest as possible to make the trade-in process streamlined and transparent. To accomplish this, your dealership needs to leverage solutions that aid in the conversations you have with consumers about their vehicles. A proper trade-in valuation tool provides a collaborative opportunity to work with customers to help them understand the appraisal process. When you include the consumer in evaluating their vehicle, they get a sense of empowerment and feel included in reaching a fair trade-in value. With marketplace conditions still volatile, accomplishing this is of the utmost importance. Get on the path to building value and enhancing the customer experience in three easy steps.
When a consumer comes to your lot looking to buy or sell, you need to quickly and proactively engage with them. Identify the opportunities you have in front of you. If they are looking to trade in their vehicle, or simply sell it, you need to start by being straightforward about your process. Start by collecting vehicle information. With a few quick questions, you learn the nitty-gritty about what the customer has and what they want. This portion of the process should be as smooth as possible. You aren’t interrogating them. Rather, you are a trusted consultant who is advising the consumer on how to build as much value as possible in the vehicle. Don’t toy around with them. Make this step happen with little pressure while being cognizant of their time.
After you’ve gained some preliminary insights about the vehicle, it’s time to rate it. But here is the catch: You need to do this portion with the customer. Building trust is critical for your operations. You know that your brand reputation depends on your ability to shed the image of how dealerships used to be viewed, so take a step into the future by including them in your evaluation. Collaborating directly with the consumer creates a higher level of comfort. It only takes a few minutes, and you’ll build trust directly into the process. This will go a long way in helping them not only understand the true value of their vehicle, but to appreciate the effort that you put in by including them.
Finally, you need to deliver the appraisal. This last step may seem simple, but you need to handle it in a delicate manner. Gone are the days of passing a slip of paper across the table with a number scrawled across it. You want to drive higher closing rates, so work the customer involvement into each step of the process. You’ve already had a friendly conversation about the car and included them in the walkthrough. Don’t throw away the equity you have built into the relationship by delivering a faceless appraisal. The goal is to build value in a vehicle, and a large portion of that includes building value into the relationship. Transparency, honesty, and collaboration. Those are terms that will resonate with the modern consumer.
The trade-in process has come a long way with the evolution of the automotive industry. Processes have changed and consumer perceptions have been altered. No longer can you hope to get vehicles on your lot without putting forth a more attentive effort. Don’t be afraid to ask questions about the consumer’s vehicle. Acquiring inventory is critical to your success. So, engage with the customer by having a frank discussion about their wants and needs. Next, walk them through the evaluation process. Chances are they have a number in mind that they want you to hit. Taking them through and rating the vehicle collaboratively builds trust. And in the car business, trust goes a long way. After you’ve rated the vehicle, you’ll need to deliver your appraisal. Again, the consumer has likely already looked at the books for an estimate. To properly offer a better experience to them, provide them with an opportunity to understand the value of their vehicle based on the rating that was collaboratively given to it.
Delivering the true value to the consumer can be accomplished in three easy steps. Building this process into your dealership doesn’t need to be difficult. MAX Digital offers solutions for your store to collaborate with consumers to create the best possible in-store experience. No longer do you have to rely on some faceless book or have to make decisions based on your gut. Data is here to provide you with a window into true values. This will help you acquire the right inventory for your lot, merchandise at the best price possible, and move it quickly. The future of selling cars is here…and it starts with MAX Digital. Schedule your consultation today and discover how MAX Digital and MAX My Trade can help you.