How are Automobile Websites Changing the Behavior of the Customer for Buying and Selling?
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The automotive world is slowly taking a different pace in the retail world with the changing perception of a millennial with regards to the automotive landscape. The present buyers and sellers are better equipped with industry knowledge with the boom of the internet in comparison to the buyers and sellers of yesteryears. They have moved beyond the conventional marketing techniques and are forcing on the entire automotive sales ecosystem to introspect deeply on the current trading process.
Technology is sweeping the entire automotive market. Thus, it is becoming inevitable for the automakers to deal with this change. Now, many entrepreneurs in this field are trying to align with this change to spare their customers from the pain of buying and selling a vehicle and to make the car trading process easier.
The factors that influence an individual to buy a car maybe social status, family expansion or ease of conveyance. The first step in the buying process starts with an online research on various automobile websites which facilitates comparison of different vehicles on the basis of various attributes. These websites are the most relied upon sources for online research. After the customer makes a preference, the customers have to go undergo the sales pressure environment. The next step includes multiple visits in different dealerships in search of the best price. The biggest agony that customers face in this process is the difference between the pricing information available online and in the dealerships.
The shift in the way of buying a product
The internet boom and e-commerce have changed the ways people buy their products. This has made a shift in the entire retail process. Consumers spend more time buying products online. Social media has become an indispensable part in the life of a millennial. Social media is still at an initial stage when it comes to influencing online car trading. However, there is a huge potential for its growth in the future.
New pattern of sales
In a similar way, car selling process is taking a sharp digital turn. People are willing to purchase even cars. They want to save themselves from the hassles of being quibbled by sales representatives, contradictions on price match and research. Consumers are comfortable buying a book or an airline ticket online because of its transparency. In the same way, they look for such transparency when buying a car. With the advent of internet and the gaining popularity of automobile websites, or the license to feature and broadcast dealership inventory on their websites as part of a bigger digital marketing strategy, that is precisely the direction that car trading is heading towards.
The digital era offers a wealth of benefits even to those who are seeking to sell their used cars. Taking the conventional way of visiting a traditional dealer means moving from one place to another in search of the best deal for the car. The disadvantages do not end there. Leaving the car with anyone dealer means the car will be seen only by those buyers who visit that particular dealer and when the owner of the car finally gets a buyer and manages to sell the vehicle, the seller still has to pay the dealer a fee, which can be quite a considerable amount.
If we compare the above situation with selling used cars online we can see analyze that if we have a car that we want to sell, we can do it without even leaving our home and without having to pay any kind of fees. We can simply get on the internet and look for sites that facilitate buying and selling of used cars as well as new cars. The advantages of doing this are many. We are not restricted to using only one site. We can list our vehicle on as many sites as we want to. The other trump card in selling a vehicle online is that we can reach out to a larger number of prospective buyers through each listing and with multiple listings, the number of buyers you can reach out to increases dramatically. Last but foremost, there are no fees involved in buying new cars or selling used cars online.
While the major steps in the process of buying a car would predominantly remain the same, the role of each participant is expected to change over a period of time. A change in the role of OEM (Original Equipment Manufacturer), dealers and third-party websites is expected to give the customers a hassle-free, unified and fast car buying experience. Considering the surge of social media and its avatar as the word of mouth communication, it would be unwise to ignore its potential as a new marketing tool for vehicles. As the saying goes, “change is inevitable” and the automotive sector is no exception.