Digital Finance for Digital Retailing Assessment Step 1 of 14 7% Digital Finance for Digital Retailing Assessment The goal of this is assessment is to identify if your dealership is positioned for success with advanced online and/or in-store digital finance technology 1) Which statement do you agree with most?(Select all that apply) Digital retailing is about deal generation. It’s the start of the deal. It is not lead generation. The dealership website is our showroom. Online DR tools allow customers to move themselves down the funnel. The more information I can provide online, the more likely they are to visit my dealership. Consumers should be able to start and stop where they want to online and expect to pick up where they left off when they get to the dealership. Online vehicle pricing and should match in-store vehicle pricing None 2) What comes closest to your dealership’s definition of ‘digital retailing’? Having a dealership website Listing inventory with pricing on our website and third-party shopping sites Consumers can start car-buying steps online but the final deal structuring, financing, protection plan sales and contracting are required in-store activities Consumers can purchase the vehicle completely online, including arranging the financing, protection plans, contracting and delivery (optional). Other 3) Which of the following does your website offer?(Select all that apply) Instant Credit Decisions Payment Calculator Trade-in Estimator Transactable Trade-in Offers [Pending Inspection] Schedule Test Drive Build Your Deal Negotiate Pricing (via Chat or DR tool) Credit or VIN Qualified Payment Quoting Service & Protection Plan Details and Pricing Online Checkout Home Delivery Option 4) Are online payment calculator tools that return ‘qualified’ rate, term and payment information a desired function of the ideal digital retailing experience for your dealership? Yes No Under consideration Yes, already there 5) How do you describe the quality of the transition of your online shoppers who have initiated parts of the deal on your website and then come into your store? Smooth, streamlined. No process redundancies. Fair, but room for improvement. Disconnected. Bumpy at best. We have no process. Customer starts over. 6) How would you define your dealership’s approach to innovation/technology? First Mover: The first to try new ideas, technologies or create new ways of doing things. Fast Follower: Fast to recognize other good ideas and moves quickly to adopt/imitate. Late Mover: Takes a wait-and-see approach to innovation or new technologies. Last Mover: Slow to implement innovation, new ideas or change established processes. 7) Which of the following best describes how your dealership implements process change? Owner or GM communicates changes to Managers. Managers are responsible for informing their teams and holding them accountable. One designated person oversees process change (including implementation and ongoing adoption) Process change is unstructured. Changes are passively communicated and inconsistently implemented. Accountability is selective at best. Process change is championed from the top down. Owner/GM actively works with managers and their teams to ensure implementation and ongoing adoption. Strong accountability culture. Other 8) Which statement do you agree with most?(Select all that apply) Profits are determined by sales and sales are determined by sales process. Increasing customer satisfaction closely correlates with an increase in sales and profits. The greatest obstacle to profits, customer satisfaction and loyalty is the time it takes to complete the negotiation, deal structuring and F&I portions of the car-buying process. Presenting qualified finance information should remain exclusively an in-store activity. None 9) Are unrealistic payment expectations – established by online payment estimator tools - contributing to a problematic number of rehashes and unwinds in-store? Yes No 10) At your dealership, when do you normally first pull the customer’s credit? Before the test drive Before the first pencil Before the handoff to F&I In the F&I Office 11) Is presenting ‘qualified’ rate, term and payment options (prior to the F&I handoff) a part of your desired in-store sales process? Yes No Under consideration Yes, already there 12) Which of the following represents your current objectives or something you plan to incorporate as a future goal?(Select all that apply) Increase CSI Sell more cars Increase PVR Reduce average transaction times Improve efficiency Create value in the form of a superior connected retail customer experience NameWhat is your best email address so we can follow up with your results?* This field is hidden when viewing the formUser CountryThis field is hidden when viewing the formutm_sourceThis field is hidden when viewing the formutm_mediumThis field is hidden when viewing the formutm_campaignThis field is hidden when viewing the formutm_termThis field is hidden when viewing the formutm_contentCommentsThis field is for validation purposes and should be left unchanged.
