Declining customer satisfaction over the last two years is the cumulative result of numerous issues, but one of the factors most consistently identified by consumers is time.  Consumers directly correlate  the total time required to complete the purchase with the value they receive from the dealership, and their overall satisfaction with the buying experience,

The traditional process, which required the consumer to endure an entire day filling out forms and waiting for approvals, is no longer necessary, and consumers are aware of that fact. Subsequently, consumers expect a better,  modernized, more convenient experience similar to what they have become accustomed to when making other purchases, both major and minor.  

Time spent online and at the dealership both increased in 2022, but consumers dissatisfaction with the process is more acute in reference to time spent at the dealership. In fact, Cox’s  2022-Car-Buyer-Journey-Top-Trends report* shows that completion of the financial application process online can save the customer an average of 2 hours at the dealership. The report further indicates that 44% of consumers will only shop online on sites that enable them to complete purchase requirements online. In other words, consumers are sensitive about the value of their time, and progressive, technically proficient solution providers are finding creative ways to accommodate that sensitivity with a user friendly streamlined online and mobile process.

Dealerships that are not capable of leveraging today’s technological efficiencies to facilitate the convenient, user friendly experience that shoppers are expecting are so far behind their more sophisticated competitors that it is unlikely they will ever be able to catch up without a major investment in modernization,

For hundreds of dealerships across the country, a very cost effective solution has been to leverage the sophistication and technical proficiency of BDC United to streamline their customer experience and demonstrate to shoppers that any required in-person appointment  will be worth their time. 

Last week Alex Vetter, highly revered CEO of Cars.com regarding  how much further less tech-savvy dealers need to go:

“if you look at the younger generations, they’re using technology at four to five times the rate of what the average owner-operator is using……Dealers who are winning the game are those who are embracing a digital-first, fully transparent online [model]. Prices in the store are the same ones you see online. You can contact our people directly from our website, and you can begin the journey online, and we can do everything you want. These are the dealers who are moving the industry forward and are the ones taking market share.”**

*https://www.coxautoinc.com/wp-content/uploads/2023/01/2022-Car-Buyer-Journey-Top-Trends.pdf

** https://www.autonews.com/retail/carscom-ceo-alex-vetter-digitize-or-be-left-behind?adobe_mc=MCMID%3D08492824677804599522077035267321035579%7CMCORGID%3D138FFF2554E6E7220A4C98C6%2540AdobeOrg%7CTS%3D1676326384&CSAuthResp=1%3A%3A1394165%3A20957%3A24%3Asuccess%3A18E4FCAD388A6CA3617DA864CC41EDFF