The COVID-19 pandemic accelerated almost every B2C industry's use of digital solutions. The automotive industry was no exception. Online car shopping is now a prominent and accepted way to buy a car. The value, convenience, and safety offered by online platforms have forever changed the car-buying experience.
Pam is a marketing and communications professional with twenty years of experience in content creation, copywriting, creative brand strategy, and brand messaging.
Recently, CarEdge reported a mind-blowing fact about the automobile industry that has big implications for auto dealer marketing. For complete clarity, I'll quote the entire statement here:
Today's sales teams face unique challenges in a very competitive global marketplace. If you’re in sales, you know how hard it is to communicate your differentiation, especially when technological advances and shifts in consumer behavior move at the speed of light. For example, 67% of the B2B buyer's journey is digital. Research shows that 35% to 50% of sales go to the vendor that responds first.
Before the advent of sales automation, sales teams relied on manual processes and a more traditional approach. Sales representatives had to research and source leads using printed business and association directories, attend trade shows, make cold phone or in-person calls, or purchase lead lists. The sales process was time-consuming, offered limited targeting options, and often resulted in lower lead quality.
To be competitive, sales teams must be more than skilled. They must continuously improve and find new ways to connect to customers. Effective sales teams constantly evaluate and enhance their performance, adapt to changing circumstances, and focus on delivering value to customers. Sales coaching software can be transformational for a sales team, leading to a more results-driven and adaptable sales force.
"Good salespeople are not born, they are trained," according to 35-year sales development industry veteran Dave Kurlan.
There is data to back this up. Studies have shown that companies with a formal sales coaching and training process reach 91.2% of their sales quota. Also, organizations with a coaching program see 7% greater revenue year over year.
In the dynamic landscape of sales, where customer interactions and relationships are pivotal, conversational analytics has revolutionized how sales teams understand, evaluate, and enhance their processes. Why? Because customer service is critical to success. According to a study by Microsoft, 90% of Americans use customer service as a factor in deciding whether to do business with a company. 58% will change companies due to poor customer service.
A recent Harvard Business Review article reported that while lagging behind other business functions incorporating digital technology, "Sales is primed to quickly become a leading adopter of generative AI… AI-powered systems are on the way to becoming every salesperson's (and every sales manager's) indispensable digital assistant."
Sherlock Holmes once said, "It is a capital mistake to theorize before one has data." While he may be a fictional detective, he is absolutely correct. He is essentially saying that theories without facts to back them up are just assumptions. This can be dangerous in sales. With millions of dollars in both expenses and revenues at stake, launching any sales initiative by merely assuming you understand your target customer and their wants, needs, and pain points is risky.
Did you know that your online reputation can affect your bottom line? It’s true. Online reviews are essential to every modern sales process. According to recent survey statistics, 95% of consumers read reviews before they buy a product. This is true for all kinds of products.92.4% of survey respondents say reading a trusted review makes them more likely to buy a B2B product. In this article, we’ll offer six best practices for improving your online reviews.