The Consumer Decision Journey

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1 The Consumer Decision Journey What car shoppers are doing online & how you can influence them along the way Howard Polirer, Director of Industry Education

2

3 Advertising that creates awareness of a brand, specific make/model, or dealership whether or not the consumer is in market for a car

4 billboard radio display advertising TV

5 A trigger that causes a consumer to begin shopping for a car

6 divorce new job accident Dissolution of Marriage expanding family major repair

7 divorce 71% Dissolution of Marriage new job accident start shopping based on need expanding family Source: 2011 Shopper Frame of Mind Study major repair

8 What it means for you Understand today s BHPH customer and their circumstances

9 Today s BHPH customer 58% female 39 years old < $50k income 44% married Poor credit score

10 What it means for you Understand today s BHPH customer and their circumstances Include messaging about financing and credit in your advertising

11 Securing financing is #1 priority Source: 2011 NABD/AutoTrader.com Buy Here Pay Here Study

12 Approval is most important Source: 2011 NABD/AutoTrader.com Buy Here Pay Here Study

13 online?

14 70% of BHPH shoppers use the Internet Source: 2011 NABD/AutoTrader.com Buy Here Pay Here Study

15 80% Do research prior to visiting the dealership Source: 2011 NABD/AutoTrader.com Buy Here Pay Here Study

16 Wants/Needs (Expanding Consideration Set)

17 What will my payment be? referrals SUV or sedan? dealer sites third-party sites TV

18 Hybrid or gas? referrals Who will approve me? third-party sites dealer sites TV

19 Do you know today s customer? Megan I can t go over a certain monthly payment and I need Wednesday, to know June 24, 2009 the mileage. Source: 2011 NABD/AutoTrader.com Buy Here Pay Here Study

20 Yes / No (Narrowing Consideration Set)

21 Which dealer? third-party sites referrals Down payment? review sites dealer sites

22 How quickly can I buy the car? third-party sites What is the dealer s reputation? referrals review sites dealer sites

23 Do they have the vehicle I want? third-party sites How will this affect my credit? referrals review sites dealer sites

24

25 What it means for you The Internet can play a important role for BHPH in both consideration & evaluation BHPH shoppers are online Transparency, merchandising & key messaging help influence credit-challenged shoppers to choose you

26 Build an easy-to-use website Source: 2011 NABD/AutoTrader.com Buy Here Pay Here Study

27 Give them the information they want

28 Give them the information they want With as little as $299 down, you can own this vehicle for $299 per month! If you have no credit or bad credit, we can get you a Guaranteed Credit Approval. Even bankruptcies and prior Repo's are approved! We offer 'GUARANTEED CREDIT APPROVAL' regardless of your credit history. Super clean vehicle, fully serviced. Great daily commuter car. For more info, call Bob at and ask about our GUARANTEED CREDIT APPROVAL. It's that easy! If you meet the requirements, YOU'RE APPROVED regardless of your credit history. Call BOB at and you WILL be driving your new car.

29 Misleading pricing is the top complaint of online shoppers $5,999

30 Emphasize key messages Easy Approval!

31 Key messages to communicate

32 Promote speedy approval process

33 Key messages to communicate

34 Get your car in less than 2 hours!

35 Rebuild your credit How does this help my credit? We report your loan to the credit bureau on a monthly basis. Having a good car loan on your credit can boost your score by over 100 points. And our commitment to your credit restoration doesn t end there. Once you join our family, our credit experts will offer free lifetime credit counseling services. Answers to all of your creditrelated questions is just a phone call away!

36 Consider reporting payments to credit bureaus Road to GOOD CREDIT

37 Include information about what will get them approved

38 Checklist of required documents Driver s license/personal ID Down payment Paycheck stubs Credit history Bill payments Credit rating

39 Merchandise HomeTown Autos your dealership online

40 Align your messages with your customers priorities

41 Advertise on third-party sites

42 $ $

43 56% of BHPH shoppers are satisfied with dealership experience Source: 2011 NABD/AutoTrader.com Buy Here Pay Here Study

44 50% are likely to purchase from your dealership again Source: 2011 NABD/AutoTrader.com Buy Here Pay Here Study SOLD

45 What it means for you Poor dealership experience can send a would-be car buyer back into consideration & evaluation Make the most of satisfied customers by asking for testimonials & participating in social media Source: 2012 AutoTrader.com Sourcing Studies

46 A positive dealership experience is critical to customer loyalty & repeat business

47

48

49 Get involved in social media

50 49% of BHPH shoppers consider your reputation Source: 2011 NABD/AutoTrader.com Buy Here Pay Here Study

51 Manage your online reputation

52 Manage your online reputation My review of 5 Star Auto Sales: We had sub zero credit and was in a downward spiral that we thought we would never get out of. A credit rating in the low 400's. Dan and his team got us in a 2008 Chevy Aveo with very low miles. His personal relationship with his lenders got a good rate considering our situation. A year later thanks to Dan's advice, we now are at 700 and climbing. 5 star will not try to put you in something you can't afford and when they say you can re-establish your credit with them, they are right. Quality Wednesday, cars June + 24, 2009 quality pricing + excellent ownership = customers for life. Joel and Linda Overland, MO

53 53% of BHPH shoppers are likely to recommend dealership Source: 2011 NABD/AutoTrader.com Buy Here Pay Here Study

54 Use video to share happy customer testimonials

55 Use social networking

56

57 The Consumer Decision Journey What car shoppers are doing online & how you can influence them along the way Howard Polirer, Director of Industry Education

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