more profitable deals.
See how Mike Maroone Automotive Group created a better customer experience and more profitable deals with Cox Automotive Digital Retailing.
Mike Maroone Automotive Group
KEY PERFORMANCE INDICATORS
(Over a one-year period since implementation)
*Source: Cox Automotive DDC Analytics Digital Retailing Report March 1 – March 31 2019 Dealer.com websites with Digital Retailing, KBB.com and Autotrader.com
Capitalizing on digital disruption
The Mike Maroone Automotive Group operates five stores in Colorado Springs, Colorado, and one in West Palm Beach, Florida, with plans to expand further in Florida. The group has thrived for over 50 years in part by adapting to changing market conditions. So, it makes sense that they decided to meet the growing need of consumers wanting to do some, or all, of the buying steps online. The group capitalized on the opportunity and implemented Cox Automotive Digital Retailing across its stores in Spring 2018.
Prioritizing systems that speak the same language
The group’s management team evaluated several digital retailing solutions, but no provider could come close to Cox Automotive system integrations. The digital retailing tools worked seamlessly with the group’s VinSolutions Connect CRM, Dealertrack DMS, inventory solution, and their Dealer.com website. They also enabled digital retailing on their Autotrader and Kelley Blue Book listings.
As a result of these tight integrations, the group saved time in implementation, worked more efficiently to close deals faster, and gained visibility into a common set of data to deliver a better customer experience
Training staff for digital retailing
To make digital retailing a success, the group had to seamlessly connect its online storefronts to the in-store experience. After all, it would only frustrate customers and hurt the process if steps done online had to be repeated on the floor. The sales staff was specifically trained for digital retailing and learned how to follow the shopper’s “digital bread crumbs,” or online path, so they could pick-up the deal in-person exactly where the customer left off online.
By honoring work done online, sales people created customer relationships based on trust and transparency, and avoided “race to the bottom “pricing wars.
Leveraging on-site, pro-active expertise
A dedicated Cox Automotive Performance Manager helped set up the group for digital retailing success. The Performance Manager traveled to the dealership to provide on-site, hands-on, real-world training experiences. He worked proactively with the group to share best practices, marketing and branding strategies, and proven workflow tips. After initial implementation, he was always available to help tweak the sales process and workflow to maximize profit.
Promoting a faster, easier, buying experience
The group created a brand for its digital retailing experience, and a marketing and promotions plan to get the word out to shoppers. Branded webpages touted the “Fastest way to purchase your next vehicle” in three easy steps: Shop inventory, calculate your terms, and send us your offer.
Advertising through various channels including television, radio, and third-party listing sites, promoted the tagline “From our website to your driveway.”
These promotions contributed to greater website engagement and impressions, while differentiating the group from others in its market.
More engagement and better deals with more profit
Engagement with digital retailing tools proved the group was giving consumers what they wanted. Over one year, payment impressions increased up to 40,000 per month. At the group level, more than 80% of the submitted leads interacted with F&I menus. Displayed trade-values and engagement on third-party sites also increased.
With Cox Automotive Digital Retailing, a defined sales process, and multi-channel promotions, Mike Maroone Auto attracted more buyers and achieved up to an 80% closing ratio on digital retailing leads.