Research shows that high levels of consumers wish to complete both the purchase of their next car and selling their existing part exchange in a single, simple transaction but the Digital Marketplace has struggled to satisfy that demand…until now.
Digital Remarketing Solutions have developed a Digital 3.0 solution that seamlessly supports the consumer journey from start to finish allowing OEM’s, Franchised networks, dealer groups and independents to offer a fully branded front end solution which integrates with a powerful back office system that tracks, manages and converts initial enquiries into profitable sales.
Jim Kerr, Managing Director of Digital Remarketing Solutions explains ‘The traditional automotive retailing model wasn’t broken but changes in consumer behaviours certainly meant it was time for an overhaul. We developed DRS Connect® to satisfy the demands of the digital buyer whilst playing to the strengths of physical dealerships.’
By looking at the deal holistically Jim believes that it takes the emphasis away from the discount on the new car. ‘Current online sales operations can only differentiate on price, the cheapest deal wins the business, which has led to a race to the bottom on price and a significant erosion of dealer margins. The DRS Connect® system focuses the customer on the ‘balance to change’ figure and/or a monthly payment. This is important for the retailer in three ways, firstly the ability to handle the entire transaction differentiates them from pure online businesses that do not have physical facilities, secondly it gives the dealer an opportunity to protect their margins within the deal and thirdly it gives them access to a steady stream of part exchange vehicles that also represent profit opportunities.’
Jim Kerr is convinced that this approach is good for both the buyer and the seller. ‘The key to the DRS Connect® system is that it can handle both sides of the customer’s transaction; the purchase of the new car and the disposal of the part exchange, thanks to its unique online appraisal tool. This is a breath of fresh air for online buyers who want transactions to be simple, not fragmented, and secondly it puts the dealers back at the heart of the process. Being a one-stop shop is exactly what dealerships are good at and have done for years, now at last, they can do it in a digital environment.’
The DRS Connect® system can be plugged in to any dealer or group website, fully branded and with a range of configurable elements it can start generating enquiries within minutes of going live. Supported by a comprehensive suite of real time reporting tools, dealerships can also track conversion rates and measure profitability making it easy to calculate their return on investment.