Automotive Retailing Insights: First Contact with Dealerships More Important Than Ever; Study Finds 75%…

first_img Twitter Facebook By Digital AIM Web Support – February 4, 2021 Local NewsBusiness Facebook WhatsApp Twitter Automotive Retailing Insights: First Contact with Dealerships More Important Than Ever; Study Finds 75% of Consumers Who Contact Dealerships Plan to Buy Within Three Weekscenter_img Previous articleThe ODP Corporation Launches Nonprofit Initiative to Help Accelerate the Creation, Growth and Prosperity of Minority-Owned Small BusinessesNext articleAgendia to Participate in the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference Digital AIM Web Support Pinterest WhatsApp TAGS  Pinterest SEATTLE–(BUSINESS WIRE)–Feb 4, 2021– Marchex (NASDAQ: MCHX ), a leading conversational analytics and solutions company that connects the voice of the customer to your business, today released findings from a major study of consumers and their interactions with franchised automotive dealerships showing that potential car buyers in the United States are highly informed and are closing in quickly on a purchase by the time they make first contact with a dealer. In fact, 75% of these shoppers who contact a dealer are ready to buy a car within three weeks—but only if they feel a high level of trust with the dealership, according to the data. Furthermore, 83% of consumers are researching and qualifying dealers more than before and 71% report visiting fewer showrooms than before the pandemic. The study, titled “Trust, Transparency and the Transaction,” finds that one of the most important keys to establishing trust is being prepared to give consumers an out-the-door price on their vehicle of choice during the first conversation. The Marchex Institute worked with Root & Associates, an automotive research and consulting firm, to uncover new data detailing how COVID-19 has impacted the car-buying process at dealerships across the U.S. since the pandemic hit, as well as other trends. The findings are the result of a large-scale, comprehensive study that included interviews with car-buyers, a survey of 1,700 in-market and near purchase or recently purchased consumers, and analysis of more than 228,000 sales-related phone conversations between consumers and franchised dealers completed in the fourth quarter of 2020. The study finds:97% of consumers interviewed say they are somewhat or very serious about buying when they contact a dealer.75% anticipate purchasing within three weeks of contact. Nearly 40% plan to do so within a week or less.91% say trust in a salesperson or dealership is very or somewhat important in choosing who to buy from. This is equal to competitive price as a consideration and more important than lowest price.39% of consumers use a phone to call or text a dealer to make initial contact, making the phone the leading channel for consumer outreach, far outpacing any other form of initial contact, including walk-ins, email, or chat.71% report visiting fewer showrooms than before the pandemic. The pandemic has caused consumers to spend more time researching options online and by phone before fully engaging a dealership.82% want to know how a dealership is addressing customer protection and safety during the buying process and pandemic. Specifically, consumers are interested in how often a dealership itself is sanitized as well as the cars on the lot. A summary of the study is available here. A NEW NORMAL FOR DEALERSHIPS “The process of buying cars has changed profoundly during the past year. Pre-pandemic, dealerships were hesitant to discuss price before the customer came into their showrooms. In the new normal, the initial call a consumer makes to a dealership is now the make-or-break point of a sale,” said Matt Muilenburg, Marchex Senior Vice President of Automotive. “Dealers cannot operate the way they did in the past. Today, many consumers want to understand what they will pay before they visit a dealership and dealers need to be ready and willing to address that – upfront. A competitive price is one piece of building a trusting relationship. What you say, and often what you don’t, during that initial call, will define if you win the sale.” According to the study, consumers are looking to limit their time inside a dealership because of COVID-19, and they know exactly what they want because they have spent significant time at home researching vehicles and comparing costs before contacting dealers. “More than ever, this means dealers need to focus on transparency—they need to be trust providers,” Muilenburg added. “From the moment the consumer calls, texts or walks in the door, the dealer must be prepared to answer questions, provide details, and educate the consumer to build that critical layer of trust. The data shows that dealers who differentiate by establishing trust with the consumer earn the right to charge a competitive price and ultimately sell more cars.” About Marchex Marchex understands the best customers are those who call your company – they convert faster, buy more, and churn less. Marchex provides solutions that help companies drive more calls, understand what happens on those calls, and convert more of those callers into customers. Our actionable intelligence strengthens the connection between companies and their customers, bridging the physical and digital world, to help brands maximize their marketing investments and operating efficiencies to acquire the best customers. Please visit www.marchex.com, www.marchex.com/blog or @marchex on Twitter ( Twitter.com/Marchex ), where Marchex discloses material information from time to time about the company and its business. View source version on businesswire.com:https://www.businesswire.com/news/home/20210204005095/en/ CONTACT: Marchex, Inc. Investor Relations Trevor Caldwell, 206-331-3600 [email protected] KEYWORD: UNITED STATES NORTH AMERICA WASHINGTON INDUSTRY KEYWORD: MARKETING COMMUNICATIONS AUTOMOTIVE GENERAL AUTOMOTIVE TECHNOLOGY SEARCH ENGINE MARKETING SOURCE: Marchex Copyright Business Wire 2021. PUB: 02/04/2021 09:00 AM/DISC: 02/04/2021 09:01 AM http://www.businesswire.com/news/home/20210204005095/enlast_img read more

USG discusses sustainability education

first_imgUSG senators speak on adding environmental courses to the general education curriculum to promote sustainability. (Vincent Leo | Daily Trojan) Undergraduate Student Government Vice President Mahin Tahsin presented updates on projects revolving around changes to coursework at the USG meeting Tuesday. Changes involved making THRIVE: Foundations of Well-Being a required first-year course, as well as implementing sustainability education in more courses in the general education program or within existing courses. “Given that it’s already a class that exists, the next steps would generally be working with Dean Soni, working with the provost’s office and working with all the academic deans to figure out how we can implement it into this curriculum for all students,” she said.  Tahsin also prioritized incorporating sustainability education into University-wide coursework, including more general education courses with environmental focuses.  “It’s a course that ensures that students practice well-being, and it could really improve the culture that students have or their understanding of what it means to be a student and a well-operating human,” Tahsin said. The tampon initiative, which is designed to provide free feminine hygiene products to students, will be implemented in Residential Education facilities. However, Donahue said she hopes to find a way to make these products accessible outside of these spaces.  “The sustainability education is still very much in the preliminary works, but we’re hoping to expand the number of sustainability-related courses that are offered in the GE program,” Tahsin said. “[There’d be] very small bits and pieces of takeaways that students can have from their courses that they already take or get offered more courses that are related to sustainability.”  Donahue, along with Sen. Christopher McMorran, will also meet with the transportation department to go over the results of last week’s undergraduate transportation survey, as well as potential next steps. The survey attempted to gauge student interest in subsidized public transportation.center_img The student-organized THRIVE course was initially created by a USG project and is offered by the Chan Division of Occupational Science and Occupational Therapy. It consists of a lecture about a specific topic, such as religion or mindfulness, and a discussion in which students talk about what they learned in a smaller setting. Students meet with faculty and are tasked with stimulating their true selves and practicing self-care.  Tahsin has begun making plans to meet with Dean of Religious Life Varun Soni to add THRIVE to the freshman course sequence.  Tahsin hopes to work with the Environmental Student Assembly and other campus organizations to create a proposal to present to University administration.  Sen. Emily Donahue also gave a presentation on her ongoing projects. Tahsin, Sens. Emily Johnson and Omar Garcia and another representative will be presenting their proposal for a first-generation student resource center to President Carol Folt and Vice President of Student Affairs Winston Crisp in two weeks before passing a resolution of support for the creation of the center.  “I just think that generally, students can learn more about how their day-to-day affects the world around them,” Tahsin said. “It’s how the changing environment is affecting your allergies and stuff like that, which are very relevant and important for everyone to know, and how they can take a part in changing that and being involved in the change process for the entire world.” “Most of the senators that I’ve been checking in with were like 80 to 90% done on things, so I’m really hoping to bring a lot of those projects over the finish line,” Donahue said.last_img read more