Shift Digital’s New Report Highlights “Winning Strategies for Converting Shoppers to Buyers”
BIRMINGHAM, Mich., June 7, 2023 /PRNewswire/ — Car buying has become a version of online dating as customers are swiping through a series of prospective dealers. The goal is a long-term relationship between dealer and shopper, ultimately getting past the hyperbole to get to reality and on the road.
Shift Digital, a Birmingham, Mich.-based company providing technology assistance, program management and support services in the automotive retail and manufacturer sectors, has released “Winning Strategies for Converting Shoppers to Buyers,” showcasing what dealers are doing right and wrong in developing leads to secure a happily-ever-after feeling for shoppers.
“The automotive retail sector is facing two gale force fronts,” said Phil Oriani, CEO of Shift Digital. “The Shift Digital 2023 Shopper Study indicates even when shoppers are interested, there are certain words and practices on dealer websites that are counterproductive and make the buying experience frustrating to a potential customer.”
Oriani indicated the second potential roadblock to a dealer’s lead success rate is overwhelming an existing system, generating more opportunity but hindering efficiency and response time. This tends to frustrate customers as they wait for a response, sending them to another provider.
That frustration falls right in the middle of current conditions to impact leads already in a challenged condition. Stabilizing but still unpredictable inventories, inflation, and interest rates, all out of the customers’ control, continue to impact why more “clicks” don’t necessarily convert to more “sales.”
Other highlights of Shift Digital’s latest report, “Winning Strategies for Converting Shoppers to Buyers,” include:
How Do Dealers Increase Leads? Less Is More”If you have ever heard ‘less is more,’ you already have the idea,” said Matt VanDyke, President of Shift Digital. “Simplify the choices of action you ask your potential customer to make on the website. If you are the customer, you already are not quite sure what you want, but you are immediately feeling pressure to choose how to contact the dealer.”
Oriani noted that Shift Digital’s report noted no more than four “calls to action” (CTAs) should be on a vehicle detail site as customers are researching. For example, interested shoppers want to “accomplish” something in their buying journey and they’ll want to establish:
Price
Payment
Trade
Warning: “Buzz Kill” WordsOriani said certain words in those calls to action function in reverse. For example, “Check Availability” decreases conversion by an average of 18 percent, while using “Buy” decreases conversion on average by 23 percent.
The Shift Digital report suggested best practices include avoiding overly forceful language, such as”don’t miss out,” “Buy Now!”, and use positive language that encourages shoppers to engage and assist them in what should be done next in the process.
Working Words:Dan Reynolds, head of Shift Digital Advanced Analytics, said the “golden” words of “Price,” “Payment” and “Trade” should be supported with other action items to help the customer stay engaged and interested.
Each “choice stack” should use calls to action with words like these:
|
Price |
Payment |
Trade |
|
Get Dealer Price |
Calculate Payment |
Value My Trade |
|
Unlock Price |
Get Payment |
Value Your Trade |
|
Get “E” Price |
Personalize My Payment |
Get Your Trade |
“Once you have established the three elements customers are most open to, you need to keep exchanging information they need,” Reynolds added. “The key is remembering the customers’ end goals and making those call-outs easily accessed to make an informed decision. For example, you want to start with ‘schedule a test drive’ vs. some term that uses ‘buy.'”
“We all live and breathe seemingly through our mobile phones,” Reynolds said. “To not optimize your dealer site for mobile phones is a major miss as customers tend to use it as a “go-to” research tool. Our report found that using a ‘Text Us’ call to action increases conversion 28 percent for mobile users.”
Who Has the Lead In “Lead Gates?” Well…that depends.
A “Lead Gate” is built to offer something valuable in exchange for information from a prospect. The goal is to build trust, gather information, and potentially build relationships that will lead to sales.
Reynolds indicates that one size does not fit all regarding lead gate success. He said the report showed “yes,” lead gates can increase leads, but not necessarily sales.
“If you ultimately want the most frictionless experience for the customer, eliminate the lead gate to unlock price and payment,” Reynolds said. “The data says, ultimately, it won’t affect the total number of cars you sell.
Reynold said, “The Gate Is Great,” if you want the leads to increase the measurement of lead-to-sale conversion and you can manage them effectively, use the gate.
As dealerships and OEMs struggle to adapt to the latest in-vehicle technologies, inventory in constant flux and supply chain woes, the new car buying experience has left many buyers frustrated. The advancement of shopping tools is creating a new dynamic. Shift Digital provides comprehensive data technologies and support services to help national brands, and their local retailers, transform their digital marketing and sales initiatives.
Download the complete “Winning Strategies for Converting Shoppers into Buyers” report here.
About Shift Digital:Shift Digital is a leader in marketing optimization and data activation. Our comprehensive data management technologies and support services help national brands and local retailers transform their digital marketing and sales initiatives. Shift Digital’s technology helps customers eliminate blind spots in digital marketing programs by providing actionable insights. Backed by extensive research and continuous improvement, Shift Digital’s cutting-edge technology empowers businesses to gain a comprehensive view of their customers’ data, unveiling new ways to supercharge digital marketing efforts.
SOURCE Shift Digital
