VIN Basics Blog

In an industry based on accurately assessing and rating risk to maximize profitability, it’s essential that insurance carriers are able to correctly identify each vehicle they insure. This can be a challenging task to accomplish without leveraging a comprehensive vehicle data solution, especially as vehicles continue to advance.

The handling of auto insurance claims has continued to improve from a consumer perspective, with relatively simple steps that can be completed predominantly online or through mobile applications. Many insurance providers, such as yourselves, have done an excellent job building out resources to help walk consumers, both policyholders and claimants, through each step for submitting a claim as well as educating the consumer in regard to expectations following a claim submission.

Another article on digital retailing? In prior blog posts, we’ve discussed how the modern consumer shops for a vehicle, which research tools are most valuable, and how dealers can win over these consumers during the online shopping process. It only makes sense now, to cover one of the most talked-about subjects in the auto industry, digital retailing.

Why are we talking about stock photos when it seems like everyone else in the industry is pushing for real vehicle photos? There's no arguing that real photos offer a better shopping experience for consumers looking at real inventory, even with new vehicles. According to Kelley Blue Book, 90% of consumers prefer to view actual photos over stock photos of the new vehicle(s) they are interested in buying. However, stock photos still serve a purpose in the automotive industry.

There are a number of use cases outside of a dealer's inventory - such as vehicle research tools, marketing material, parts websites, etc - where leveraging stock photos by VIN makes the most sense not only to ensure professional quality images but also to save time. And though real photos are the best option for inventory, stock photos can suppliment a dealer's listings when the real photos are not available yet.  

It's been a while since I last experienced shopping for a vehicle. And I have to say, it's nice being in the driver's seat, seeing things from a consumer's perspective.

My wife Christine and I just bought a pre-owned 2014 Honda Pilot to replace her 2013 Honda Accord that had been totaled by a drunk driver a few weeks ago. She was stopped at a red light… Folks, wear your seatbelts!

Fortunately, she escaped any major injuries, but her car did not. Given the circumstances, we were forced to expedite the vehicle shopping/buying process. It was only 2 weeks from the day Christine’s Accord was totaled to the day we signed paperwork at the dealership for her Pilot.

It’s one thing to consistently drive traffic to your website, but it’s another thing to keep them engaged. This is where your website’s user experience (UX) is crucial.

The UX on your auto listing or dealership website should take the stress out of vehicle shopping and make it easy for consumers to find their next vehicle. If you’re finding that your website isn’t getting as much traction as you’d hoped, conversion rates are low, or overall vehicle sales are low, it may be time to reassess the UX on your website.

“Fixed ops departments account for the bulk of dealership’s profits.” Sound familiar? How about, “A healthy and profitable fixed ops department means a healthy dealership.” You’ve heard it all before. Yet, growing your service clientele, let alone retaining your existing clientele, is easier said than done.

You could have the most friendly receptionists, the smoothest sales team, the most impressive showroom, and even the best F&I department in town, but none of that matters if no one is there to experience it.    

The average vehicle shopper only visits 1-2 dealerships before making a purchase. The fact of the matter is that most of the vehicle research and buying process is done online today.

85-90% of auto shoppers conduct online research, according to a MillwardBrown study. And 64% of online vehicle shoppers compare different models as part of the process, according to a recent study commissioned by Cox Automotive. Still many auto listing and dealership websites do not offer a comparison tool, or have buried it on their website.

If you haven’t purchased your tickets for Digital Dealer 22 yet, you’re running out of time. In just a few weeks, hundreds of dealers, dealer solution providers, and allied industries will be meeting down in Tampa, FL for one of the top automotive conferences of the year. Whether your hand is in dealer management, sales, marketing, F&I, or fixed ops, you will find Digital Dealer to be a great learning experience and networking event.