Category: Digital Retailing

Video | Delivering the Digital Promise to Today’s Automotive Consumer 

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Consumers are increasingly relying on digital channels to navigate the car-buying journey—and they’re doing it in a matter of minutes! From comparing financing options to cross-shopping different brands, your dealership can realize a huge portion of potential profits by partnering with a trusted third-party platform like Autotrader.  

In this WardAuto FastChat, industry pros Nancy Dunham, Principal Analyst at Wards Automotive, and Paul Paridy, Sr. Director of Product Marketing at Cox Automotive, discuss how Autotrader’s online marketplace provides a seamless car shopping experience that converts more shoppers to buyers. 

Reach the largest audience of in-market shoppers. Only with Autotrader. 

Where Convenience Meets Choice: The Power of Flexibility 

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The online shopping landscape has changed. The era of flexible car buying options is here and dealerships must adapt to meet evolving consumer preferences.  

Across the internet, today’s online shopping experience allows consumers to effortlessly add groceries to their online carts and pick them up at the store or have them delivered. It’s all about choice and convenience, and increasingly they expect a similar flexible retailing experience when shopping for cars. 

As a first step, embracing an omnichannel strategy can help encourage consumers to rethink their car shopping journey. 

At Cox, we define omnichannel as not limiting the shopper to choosing an online or offline experience. A consumer can begin their deal online, take it offline, and even go back online again, moving freely between the two to complete their deal. 

According to the 2022 Cox Automotive Digitization of End-to-End Retail Study, 92% of shoppers say they will complete their next vehicle purchase entirely online or through a combination of online and in-store. 

We see trends toward omnichannel because consumers still want the choice to talk with a person at the dealership to learn some of the cars’ features, do a test drive, and understand their finance options. Regardless of where the purchase starts (online or in-store) or where a deal is completed, retailers need to make the process as efficient, streamlined and fluid as possible.  

Our products and solutions at Cox Automotive allow you to offer the flexibility car shoppers expect. Streamlining the online to offline experience will be key, and preparing your dealership should start today.  

Implementing Flexible Retailing Experiences 

Achieving an effective flexible retailing experience requires careful planning and strategic implementation. Here are some key strategies to consider: 

  1. Use digital and AI-powered tools that provide a single view of the customer, predict what they like based on their behaviors, and extend a personalized experience if they transition into the store.  
  1. Keep shoppers’ information safe and let them know you take their privacy seriously.  
  1. Make shoppers feel more confident by using digital tools in the store. This makes it easier to go over information they’ve already given online and make sure everything is correct. 
  1. Tell shoppers to review financing options on your website. They can pick extras and send in their financial details to get a good idea of the total cost, including fees and taxes.  

Source: Cox Automotive 2023 Digitization of Car Buying 

Ecommerce is an Essential Ingredient 

Looking at retail flexibility as a spectrum, shoppers range from wanting to do everything in-store to wanting to do everything online.  

True automotive ecommerce is a full end-to-end online experience from vehicle selection through to the purchase and even delivery (read this blog about where we think automotive ecommerce is today.) 

The combination of ecommerce—which offers true online checkout—and a flexible shopping experience has created a new model of retail that combines the best of both worlds. In the shift toward ecommerce, it is vital to adapt to online shoppers’ needs, and implementing a flexible retail strategy will increase your chances of success.  

Ecommerce, powered by technology, automation, and machine learning, allows a consumer to complete their transaction at their own pace and to provide the relevant information as needed, whether that’s within the next week or the next month. 

Dealers who are ready to implement ecommerce today are at the forefront of industry innovation, catering to changing preferences, creating a customer-centric shopping experience, businesses can unlock new potential in retail and gain a competitive edge. 

For dealerships who are looking to thrive by offering flexible shopping experiences, an omnichannel approach with the integration of true ecommerce is essential. By partnering with Cox Automotive, dealers can launch advanced functionality to elevate the car buying experience and stay ahead of the curve in a rapidly evolving market. 

Delivering a Consumer Experience Online – The 5 Key Steps 

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The next great phase of the automotive consumer experience is happening online. Your buyers are not only purchasing online, but they’re also making intelligent decisions about payment plans, researching competitors, and weighing their options. And they’re doing it all in a matter of minutes.  

The good news is—if you’re smart—you can have an important role in this journey from the very first moment using insights and data from connected technologies and solutions designed to deliver the best-in-class consumer experience.  

Delivering the digital promise of a faster, more convenient experience for your buyers is within reach for any dealer looking to modernize. And when you follow the following five key steps, that are pillars for delivering an extraordinary online experience, your future will include higher quality leads that result in higher profits and increased business.   

#1: Build a Strategy to Capture More Leads  

More of the car shopping process is indeed moving online. But capturing a virtual shopper isn’t as simple as publishing or updating your website and waiting for your next buyer to offer up their information.  

Car shoppers are leaving hints about their intentions in various ways and it’s up to intelligent data and insights to connect and decipher who and what to do with that information. According to the most recent Car Buyer Journey study from Cox Automotive, 57% of those surveyed visited a third-party site without visiting an OEM site.1  

What does this ultimately mean to your business and marketing strategy? There’s no more room to sit back and passively wait for your next buyer to hand over their information. Dealers need to build a strategy focused on taking the data and insights from third parties like Autotrader and Kelley Blue Book and turn them into actions to take. That their solutions and team can act on easily and swiftly. 

How much of a difference could those third-party listings sites possibly make? Consider this: Autotrader attracts over 29 million unique visitors each month. How many additional car shoppers would you like viewing your listings? Build a strategy around that and align your business objectives with the partners that can deliver. 

Autotrader sees 29 million unique visitors per month. 2 

#2: Measuring Quality in a Quantity Focused World 

Once you set into motion the right strategy mix of tools and digital marketing solutions needed to drive higher volume to your listings, you’ll notice that not all leads are created equal. Although quantity is typically a focus, quality should be the true measure. 

It’s no longer about how many leads you get each day, but whether those leads are quality leads comprised of ready-to-buy shoppers — and how quickly your solutions and sales teams can tell the difference.  

There’s a stark difference in leads more likely to convert vs. leads that simply clog up your sales pipeline. So, what’s the primary driving differentiator? Smart data. Take for example Cox Automotive’s vast treasure trove of first-party shopper data drives nearly twice as many purchases to dealerships than any other third-party listing site. 

Chasing a few bad leads here and there may not seem like a big deal… until you do the math. Let’s say two salespeople working on 200 bad leads per month, at 10 minutes per lead, making calls, sending emails, videos and texting. Add it up and you’ve just wasted 16 hours of their time per person, every single month. Now look at what that looks like over a calendar year and you’re looking at 192 hours – that’s close to 5 full work weeks! 

Be sure to set up metrics and have discussions with your marketing team and leaders at your dealership or within your organization to discuss why quality vs. quantity should be your goal and map out how you’ll reach that. 

#3: Connect with Digital Consumers with Powerful Personalization  

As the old saying goes… It’s not just what you say, but how you say it. Now layer in and how the message is received when it comes to marketing around any large purchase decision—especially one as big as your next car.  

Total time spent by consumers researching and shopping is 13:31 

Personalization in digital marketing matters to your car shopper. Before you even begin building your strategy, make sure you have a partner by your side willing to work just as hard to understand your unique business goals, to provide personalized solutions and give expert guidance. At Autotrader, we’re constantly innovating our consumer experience to attract and retain more qualified, ready-to-buy shoppers and deliver higher-quality leads that close. 

Every month, over 4 million unique shoppers use Kelley Blue Book® My Wallet to help them find a vehicle within their budget and determine their estimate monthly payment.2 

2 Source: Autotrader and KBB.com Google Analytics January – August 2023 

Here are some insights revealed in the annual Car Buyer Journey Study to help you with delivering an experience with personalization which ultimately increased consumer satisfaction levels even more. Consider this a check list for you and your team to strategize around how to be the one that stands out to the consumer: 

Are you leveraging your consumer data to uncover shopper insights?  

Everyone has data – first party, second party and third party – but what are you doing with that data to activate it and turn it into actions you and your team can take to drive profits? That’s the key to data, use it to personalize your interactions and show you know who the shopper is, what they want, and you are the one they should do business with.  

Are you taking it a step further and tailoring your strategy to meet the consumer’s needs? 

Data and insights should reveal actions you should take, especially when it comes to how to personalize your marketing strategy. When you do this, you’ll have the ability to tailor the experience based on what the consumer is showing you they prefer and prioritize.  

Are you utilizing the power of personalization to lessen the chance of attrition? 

With increased cross-shopping happening due to affordability hurdles many of today’s shoppers are facing, it’s important to remember you can use personalization to not only capture new shoppers to you and your brand, but also to re-conquest previous customers and retain existing ones. Make sure to stay in front of your customers, in the right way, at the right time. Remind them why you are their dealer of choice… because you KNOW them! They already like and trust you – so build off that. If you lost some clients over the past few years, reach out to them showing you still know and value them and are ready to deliver the personalized experience they both want and deserve.   

 Kelley Blue Book ® My Wallet Enhancements  

To lead more shoppers successfully through the early stages 

of the shopping funnel and into the buying funnel, 

Autotrader is adding new features to Kelley Blue Book My Wallet, 

including Payoff Quote, Credit Verification and Lease Configuration tools, 

which will allow shoppers to get more personalized, accurate payment 

and price information, resulting in richer sales-ready leads for dealers.  

#4: Deliver the Digital Retailing Experience that Drives Shoppers to Purchase  

As more of the deal becomes digital, the car buying experience will become faster and more personal for your buyers. (That’s the goal, at least.) Miss the mark at that, and your buyers will go looking for a smoother, easier experience somewhere else—and quickly!  

90% of dealers surveyed claimed digital retailing had positively impacted at least one area of their business. 

Fortunately, on-line deal building has been a bonus to businesses as 90% of dealers surveyed claimed digital retailing has positively impacted at least one area of their business. As you unlock new digital paths, each new solution should pull shoppers deeper into the purchase funnel to drive faster, smoother and even more profitable deals. 

#5: Leverage the right experts and partners to accelerate profits  

Leveraging the right partners is essential to amplify your digital presence. Be sure to align your partnerships with experts that can show with data (and results!) active in-market car shoppers are on, active and engaged on their sites. Saying it is one thing, but showing results in the form of consistently accelerated profits is another thing – the thing you should be most focused on. 

Third party sites have proven they weather the changing conditions in the marketplace. In the most recent Car Buyer Journey study, it was discovered in the data that buyers are 57% more likely to visit third party sites exclusively without having to visit the OEM sites, especially among Used buyers.  

So stay in front of consumers on third party sites because that’s where they are, and they’re entertaining different brands, different makes and models, and different types of vehicles than they might have originally intended. 

36% Higher Gross Profit Per Lead than the closest competitor 2 

It goes without saying, having the right experts and partners in your corner can make a huge difference in driving business. Enhanced dealership marketing solutions from Autotrader crush the competition resulting in higher profits than the closest competitors. It’s possible to reach farther, close faster and profit more when you lean into automation, digital retailing and solutions designed to deliver quality leads. 

For the Road Forward 

When you deliver, meet and exceed today’s consumers’ expectations by creating a more personalized shopping and buying experience, you end up with more sales-ready leads for your sales team. It’s a win-win!  

At Autotrader, we’re constantly innovating our consumer experience to attract and retain more qualified, ready-to-buy shoppers and deliver higher-quality leads that close.  

Discover how Autotrader can help you connect with today’s digital consumers and capture more leads, delivering the automotive experience that drives ready-to-buy shoppers further down the purchase path in this guide: The Difference Better Leads and Higher Profits Can Make for Your Dealership: Experience that moment when you close more leads with 36% more profit. 

Sources: 

1 2023 Car and Buyer Journey Study 

2 Comscore data, Autotrader and KBB.com traffic combined, Jan to Aug 2023 

TOP 5 TAKEAWAYS FROM THE 2023 CAR BUYER JOURNEY STUDY

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Cox Automotive has been conducting the Car Buyer Journey Study for the past 14 years to determine the key changes in consumer buying behavior. The study was conducted from August to September of 2023, with nearly 3,000 respondents who purchased or leased their vehicles within the previous year.

CLICK HERE to read our top 5 takeaways from the study and actions you can take to enhance your digital marketing strategy in 2024.

The Cookieless Future has Arrived

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Close-up view on conceptual keyboard - Cookies (red key)

As a leading provider of digital marketing solutions for the automotive industry, Cox Automotive has been closely watching and keeping our partners apprised of developments that affect their ability to reach consumers and grow their business.   

For nearly two years, we have been anticipating a time when consumers’ desire for web browsing privacy – and regulators’ intention to mandate it – would come together to kill the tracking cookie as we’ve known it. With the September 2023 release of Google’s Chrome browser update, we’re seeing that moment inching closer.  

Until recently, any website could add a cookie to a user’s browser and track them wherever they went online, storing the information on the site’s server. Often companies would partner to exchange this data to get more insights into a user’s behaviors and preferences. This allowed them to target their marketing more effectively to consumers who had demonstrated their interests.  

With the Chrome update, Google now stores user behavior and activity data within the browser where advertisers cannot access it. The Google Chrome developers’ site says it is phasing out support for third-party cookies beginning in mid-2024.  

Wondering what this could mean for your business? We addressed some focus areas and most asked questions that Cox is prioritizing to stay abreast of the cookieless future so our dealers can continue having success.  

AUDIENCE SEGMENTATION AND ACTIVATION

To address ongoing cookie loss when using third-party pixels, Cox is moving to Server-Side Data connections and APIs. This will allow us to have more durable data signals while remaining privacy compliant. We will also consider Clean Room solutions to provide a secure environment to bring data from different places together for joint analysis. Adhering to privacy parameters and creating the safest place for data sharing and transfer will be extremely important.  

For first-party pixels, we’ll continue using Cox Automotive Identity Graph to help us track and use specific IDs or personal consumer information. To maximize this approach, we want to help ensure your dealer websites are focused on collecting identifiable information, like consumer email addresses or logins during browsing sessions.   

CAMPAIGN AND CONSUMER ANALYTICS AND TRACKING

Campaign Performance and Tracking 

We expect to see fewer conversions being tracked overall. We also expect to see increases in discrepancies from our data verification partners since some data points that are monitored rely on cookies. (e.g., Our verification partner may see the user as being outside their geography when the delivery platform does not.)   

 Server-side will be able to handle signal resiliency issues for the platforms that have Conversions APIs available (mostly social platforms). For other platforms, curated solutions are in developed.   

Consumer Journey Analytics 

Some blocking solutions on browsers will strip some of our tracking mechanisms by default. This would impact some reporting elements for dealers. Since the consumer journey will rely more heavily on identifiable information collected during website visits such as email address or logins, it’s more important than ever to focus on first-party data activation. Read this Dealer.com article on how to collect, connect, and activate your first-party data as you prepare for the cookieless future.  

Additionally, Chrome released an article in August 2023 about Related Website Sets. This may be a solution to customer journey breakage that relies on first-party cookies.   

At Cox, we are committed to helping our dealers throughout the deprecation of third-party cookies. We will continue working on ways to ensure our dealers feel confident with this industry shift and will be there every step of the way to ensure maximum success. We will continue releasing information about the approach we are taking to tackle the future with no third-party cookies.  

The 10 Actions Auto Industry Buzzwords are Driving Dealers to Take in 2024

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It’s easy to wonder how (and if) the latest auto industry buzzwords will affect your business, especially after the last few years that came along with an abundance of rapid changes, pivots and firsts for almost all of us.

However, don’t expect any of these words that generated buzz to fade anytime soon as we step into 2024. Several of those trending words demand a dealer’s attention to make shifts now in how they’ll create opportunities to win customers, influence brand awareness and gain market share in the coming year.

So to help you gain a deeper understanding of what the Top 10 Automotive Industry Buzzwords are, and what they truly mean to a dealer’s business success, we asked expert Jade Terreberry, Senior Director of Strategic Planning at Autotrader and Kelley Blue Book to map out ten that should be on your radar in 2024, as well as the steps she recommends to incorporate them into your plans and strategies to drive more business.

Buzzword #1: CDP (Customer Data Platform)

The hottest acronym from the automotive industry last year, think of a CDP as one view of your customer that tells you what they’re doing, how they’re doing it and should steer your actions, marketing, and timeline to provide a personalized experience. 

Actions to Take in 2024:

  • Turn your CDP data and information into actions – that’s where the goldmine is.
  • Connect the dots inside your dealership with your sales and ops teams – use your CDP to personalize the customer experience.
  • Once your CDP has sifted through consumer, vehicle and F & I data – get a deep understanding of the lifetime value of your consumers.

Buzzword #2: AI (Artificial Intelligence)

There are so many ways to use AI, but dealers should think about how it’s being used today across your vendor partners. AI leads to big data, which can help you create more relevant experiences and gain more connectivity to existing and ideal consumers.

Actions to Take in 2024:

  • AI can help you with the end goal – to get the right car, in front of the right buyer, at the right time… in the right WAY!
  • Use AI or your vendor’s AI data to serve personalized messaging – focus on the call to action you want them to take.
  • Retargeting continues to drive brand awareness and profits – AI can help you with this.

Buzzword #3: Virtual and Physical Lot

For years you’ve heard about your virtual and physical lot. And in today’s times with consumers shopping both online and in-store, and often times back online again… what’s happening on your virtual lot is a direct indicator of what’s happening on your physical lot.

Actions to Take in 2024:

  • Make it seamless for the consumer – enable your team members to connect the deal in real time both virtually as well as physically.
  • Merchandise cars that are headed your way – especially if it’s a vehicle that will sell quickly.
  • Follow the formula of trust, triangulation and then transfer – build the trust, collect the information, personalize and connect your experience both online and in-store to drive profits.

Buzzword #4: Extended Loan Terms

With heightened interest rates and affordability being hurdles for today’s auto-shoppers, automotive loan terms have now extended past traditional norms into the 84- and 96-month range. In 2023 the average new-car loan term was 69 mo. and used-car loan was 67 mo.

Actions to Take in 2024:

  • Understand the goal and keep a consumer’s best interests in mind – explain the pros and cons of extended loan terms so that expectations have been set and it’s clear what your customer is stepping into.
  • Forecast and shift expectations and actions by modeling out revenue streams with your sales, F&I and service teams – remember the perfect storm is being set between lenders, your inventory and your customers’ typical patterns on extended terms.
  • Adjust and personalize your communications and cadence – the 72-to-90-mo. loan term customer will have a distinct timeline, equity situation and needs that call for being pro-active in customizing and strategizing your touch points and conversations differently.

Buzzword #5: CPO (Certified Pre-Owned)

In looking at the big picture of the financial efficiency of your organization to keep consumers coming back, you should be focused on CPO vehicles. They provide many protections from a consumer sentiment perspective, as well as consumer brand loyalty, retention and fixed ops perspective.

Actions to Take in 2024:

  • Have a weekly meeting with your Used Car Manager on CPOs – discuss how many are currently, in the process of, and are capable of being certified in your current and incoming inventory.
  • Determine your true cost to certify a vehicle and lifetime value predictor of your CPO customer – include upfront costs, profitability margins of CPO vs. Non-CPO, short-term and long-term revenue derived from a lifetime value client perspective.
  • OEMs are leaning into CPOs – be sure to check if yours are offering incentives or co-op dollars to certify that you might not be taking full advantage of.

Buzzword #6: Hybrid Retailing

It’s essential to have a seamless experience both online and offline. Every piece of a consumer’s information, no matter how they entered your ecosystem, should bridge to give you a singular consumer profile. This keeps the deal moving and improves the consumer’s experience.

Actions to Take in 2024:

  • Ensure your teams are connecting the dots both online and offline – train them how to access information already collected and how to pick up where the consumer left off.
  • Plan for the fully automated future of ecommerce – it’s not a light switch, so make your 5 or 10 yr business plan on how you’ll move in that direction step by step.
  • Test your online to offline experience – be sure the entire team is clear on how to keep the deal moving no matter how or where the consumer chooses to complete the deal.

Buzzword #7: Distance Retailing

One of the areas where you can find the most immediate incrementality for your business from a variable ops perspective is distance retailing. Selling outside your market is now possible with consumers increasingly expanding their search radius to get the right car at the right price.

Actions to Take in 2024:

  • Consumers what a car with the packages, trim and pricing and are willing to travel for it – ensure you have a plan and the right people (ex. drivers) to capture those out of radius shoppers with delivery and a seamless online experience.
  • The total addressable market in your own backyard for you to gain or retain service and fixed ops business has expanded – consumers who bought outside of market are there for you to capture or recapture.
  • Test a few deals to target an extended radius if you’re not currently doing this – give a 30 day trial to measure how it changes or will change your business for incremental revenue growth.

Buzzword #8: Revenue Stream Shifts

What revenue has looked like for the last few years is going to be very different going forward. Strategize for growth and shift based on how and where your revenue is coming in from today in each of your departments, and forecast based on increased use of technology.

Actions to Take in 2024:

  • Get a clear picture of what your existing revenue streams are – this will change monthly and give you a clear indicator of where you’re winning and where you need to improve.
  • Plan for the foreseeable value and equity situation – with extended loan terms and increased car values we’ve seen, how this will affect your business (and your customers!) for the next 5 – 9 years and how will you overcome this challenge.
  • Break your new, used and CPO sales and revenue down monthly – understand the different age groups or types of cars that are truly driving your sales and revenue.

Buzzword #9: OEM Direct to Consumer

It’s clear that you’re the expert for the OEM. Sure, there will be specific lines, makes or models OEMs will build and release for an automated channel because it helps with allocation and efficiency. But there’s still a big role for the dealership and revenue streams that you’ve likely never had before to capture as ecommerce expands.

Actions to Take in 2024:

  • Get a bigger understanding of how your OEM is forward thinking – once you know this, strategize how your role plays within and alongside it to maximize potential.
  • Strive to be the partner of choice – develop frequent and consistent messaging to your team on what makes you, and will continue to make you the premiere partner alongside your OEM
  • OEM certifications make you a gold standard – expand your expert and master technicians, as well as your certified salespeople that are critical to your brand.

Buzzword #10: New Roles within Modern Dealerships

One of the most important things to plan for as your dealership moves forward is making sure you have team members who are focused on user experience, consumer experiences, hybrid and distance retailing and eCommerce. Understand and plan how those roles currently do and will fit into your dealership as technology and eCommerce experiences and demands grow.

Actions to Take in 2024:

  • Align and set pay plans clearly based on goals and priorities – bring and buy your entire staff into a clear direction you’re headed towards and changes you’ll make together.
  • Connect streams of business, roles and accountability for eCommerce and in-store sales – makes sure there is a clear understanding that it’s not a me vs. them mentality when it comes to inventory and that the bottom line and customer satisfaction is a unified goal.
  • Train and recruit the right people for the right roles – these new roles call for specialization to fast-track successful outcomes.

For the road forward

Your recommendation is to take three of the buzzwords above each day and spend about 10 minutes planning and strategizing around them – you must plan your work and you must work your plan. And whether that’s meeting with your teams and holding them accountable for the steps and actions you’ve mapped out, or seeing where you’re stacking up against the measurements you’ve set, these buzzwords can help you both grow and revolutionize how you do business both now, and well into the future.

Autotrader provides you with qualified leads for people who want cars. We have the data that connects and activates your data, and we have the shoppers. Driving quality leads that have the highest gross profit on average industry wide, we’re here for The Deal Doers.

Cox Automotive has the most connected and comprehensive view of the automotive industry and offers unmatched data and insights into consumer behavior, automotive trends and operational best practices. Whatever your goals, we can help you get there faster to stay a step ahead and successful in today’s marketplace.

Would you like access to all of the buzzwords above and actions to take mapped out in an easy-to-read and share format? Find it on the new infographic.

eBook: How to Increase Your Digital Presence to Drive Sales

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It’s here… The new eBook from Autotrader, Dealer.com and Esntial Commerce. 

In today’s times, it’s no longer enough to just collect data and use digital retailing tools. It’s time to make a step-by-step plan to activate and leverage them to empower your sales, retain customers and increase new business for the digital future. 

With a future of no third-party cookies on the near horizon, layered with a shifted consumer preference of completing more of the purchase process online… It’s no wonder why many auto dealers are struggling with how to stay a step ahead! 

But modernizing your marketing and business strategy doesn’t have to be as complicated as it may seem.  

Find out the new ways to connect with and activate your customer data in order to drive profits not just now, but for many years to come. The new speed of retail is here, and shoppers expect a streamlined, digital experience. Find out how inside our newest eBook. 

ACCESS NOW

By taking a deeper look at the importance of not just collecting data, but learning how to effectively interpret and activate your data, you’ll discover the step-by-step to increase your digital presence to get more deals done. 

Download your copy now. 

From Digital Retailing to Ecommerce: Maximizing Every Digital Transaction

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Digital retailing is the way of the future for the automotive industry. If your dealership is not implementing digital retailing capabilities during some part of the consumer journey, you could be missing out on leads, and taking money from your own pocket. But not every customer wants the same things from their online experience—they all want options. Our research shows that customers don’t want to follow a prescribed sales process. In fact, 9 of 10 customers prefer a flexible, personalized car buying experience. 

However, as the consumer landscape continues shifting, consumers want to do more shopping online. This means dealers must expand their digital retailing offerings to ensure they are not missing out on potential sales. 89% of franchise dealers added at least one digital step in 2020.¹ So if your competition down the road is already adopting digital retailing tools, you’re already missing out. 

Whether you are selling cars fully online as the industry bridges towards an eCommerce future or somewhere in between, we have technology at Cox Automotive to help you create a seamless online shopping experience for your consumers.  

Digital Retailing VS Ecommerce  

There is often confusion when people think about digital retailing and eCommerce. While most people might think they are the same thing, they are different.  

Digital retailing helps guide the overall experience for your shopper and saves time for both you and the consumer. Your customers can easily navigate and engage with your website during different stages of their purchasing journey.   

The digital retailing process is mostly supported by a member of your dealership staff. For example, the consumer starts the deal online and can take it to a credit app submission, sometimes even a credit decision, but at that point dealership personnel will need to engage with the consumer to walk them through the deal. Digital retailing can help your dealership:  

  • Increase exposure and reach 
  • Give you the ability to turn vehicles quicker 
  • Increase acquisition and inventory capabilities 
  • Close deals faster – and more profitable deals
  • Improve customer satisfaction – and referrals

eCommerce involves a fully digital transaction where the consumer begins the deal online. But the main differentiator is that consumers can complete their purchase steps at their own pace while working through the deal all the way through a digital sign for the vehicle to actual delivery to their front door. This fully digital transaction heavily involves automated F&I automation, not dealership staff. In fact, most dealerships have a sole eCommerce team focused on end-to-end digital transactions.

Dealer.com Digital Retailing Capabilities  

When it comes to digital retailing, Kelley Blue Book® My Wallet is the first digital retailing touchpoint consumers can have with your Dealer.com site. Dealers can integrate Kelley Blue Book My Wallet, an intuitive tool designed to improve the shopping to buying journey and drive more quality connections between buyers and sellers, directly on your website. My Wallet gives dealers access to everything from down payment, trade-in, and financing information – the data needed to speed up the deal-making process and get more accurate leads. 

1.1 MILLION VISITORS HAVE SYNCED THEIR MY WALLET PROFILE ON DEALER.COM2 

80% of consumers think it is a good or great idea to buy entirely online.³ And with Accelerate My Deal, consumers can complete even more steps online, speeding up the deal for everyone. When shoppers enter their information into Kelley Blue Book® My Wallet it’s automatically transferred into the Accelerate My Deal experience. Accelerate My Deal leads on average close at a 48% higher close rate compared to other internet leads helping dealers get more highly qualified leads and boost their profits.⁴ My Wallet gives shoppers a personalized shopping journey and Accelerate My Deal moves the shopper from journey to purchase. To learn more about Accelerate My Deal, check out this guide.  

“Digital retailing tools maximize a dealership’s marketing strategy by offering a personalized shopping journey to car buyers who want choices on how they shop with dealerships. Over the past few years this digital transformation really gained momentum as consumers searched for more digital tools that help them shop from the comfort of their home by locating vehicles during our inventory shortage, or providing real-time interest rates which dictate what they can afford. The results of the last few years support the fact that you want a multi-channel approach to be competitive, you can attract a broader range of consumers by offering more ways to start their purchase – and you need to have the right tools for your sales team to create the most convenient way to purchase no matter where your customer started. What I would underscore here is that innovative “tools” are part of the formula, but to avoid restarting the customer you need well-trained people and processes to execute and drive the right outcomes.” Brett Pomerantz, Sr. Director – Enterprise Solutions, Cox Automotive 

DID YOU KNOW 70% OF SHOPPERS ARE MORE LIKELY TO BUY FROM A DEALER IF THEY CAN START THE PROCESS ONLINE? ⁵ 

The new age of automotive retail is here, and consumers desire a streamlined, digital experience. So, to help you meet them where they are, it’s important to take a look at where you are.

Whether you are slow to adopt digital retailing or at full-force adoption, there’s still advantages. And step by step you can shift to the ecommerce future that’s already staring down dealers and pushing them in that direction.  

¹ 2020 Digitization of End-to-End Retail-Study 

² 1.1 million visitors sync their My Wallet profile 

³ 2022 Car Buying Journey Study  

⁴ Cox Automotive Product Analytics. Accelerate My Deal Lead to Close Analysis using VinSolutions sales data. Data from Jan 2020-Nov 2020. Analysis performed January 2021 

⁵ 2021 Car Buying Journey Study 

Noah Lee Education Series: KBB My Wallet

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At Cox, we’re all about creating a frictionless, end-to-end experience for customers. And with so many Cox Automotive solutions, we strive to create valuable connections between our solutions to deliver dealers and consumers real value.

That’s why we believe Cox Automotive marketing solutions—Dealer.com, Autotrader, and Kelley Blue Book— just work better together.  

One valuable connection that was unveiled at NADA Show 2023 that really takes the power of connection to the next level, is Kelley Blue Book My Wallet now being integrated into Dealer.com dealer Websites who have Accelerate My Deal.



Noah Lee, Senior Director of Product Consulting at Dealer.com, provides a quick overview of KBB My Wallet. He also demos how car shoppers can navigate the My Wallet tool on Dealer.com websites and easily complete even more steps of the car buying journey online with Accelerate My Deal.  

As the only end-to-end auto digital marketing agency, Dealer.com wants to help transform your digital retailing and increase your car buyer leads with a truly connected, end-to-end experience for consumers.

Schedule a demo today.   

See what’s new: The latest digital marketing solutions

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And that’s a wrap for the NADA Show 2023! Thanks for stopping by the Dealer.com booth and demoing our latest innovations.  

Dealer.com does more than provide websites, we’re the premier end-to-end digital marketing solution for your automotive dealership. And whether you are current or new Dealer.com customer, now is the time to get started on your digital marketing goals in 2023. 

If you did not get a chance to visit our booth, no worries. There’s still an opportunity to demo the new products and enhancements we unveiled at the show. In the meantime, here’s a recap of what we debuted:  

KBB My Wallet on Dealer.com Websites 

Kelley Blue Book® My Wallet, a personalized shopper tool on Autotrader and KBB.com, will now be automatically integrated into all Dealer.com dealer websites. This means dealers will have even more information on consumers than ever before. 

You can get everything from down payment, trade-in, and financing information – the data you need to speed up the deal-making process and get more accurate leads for your dealership. 

Local SEO 

Take complete control of Search Engine Results Page (SERP) beyond just your organic and paid listings as Google prioritizes local experiences when consumers search for cars. With Local SEO, dealers can promote their dealership and inventory to local car shoppers at exactly the time they are searching for your business.   

New Car Customizer  

With more consumers shopping online for cars than ever before, dealers must ensure their website has the tools consumers need for a seamless shopping experience while displaying a modernized web design.  

Our new car customizer allows shoppers to find the vehicle they are searching for, even when dealers do not have the specific vehicle in inventory. 

These are just a few of the solutions we got to share with dealers at the show. Be sure to sign up for a demo today!