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Get Into the Driving Seat Steve Nash Interview Rise of Platforms PwC Forecast IMI’s CEO looks at the How companies that connect The key automotive challenges facing the industry are leading the digital revolution industry trends for 2017 accelerate the carwow magazine Get into the driving seat Summer 2017 Issue 4 Issue 4 Summer issue carwow YouTube 9 75% channel of the OFFERS AM Top 20 use carwow requested Video views on carwow in the past 30 days: Customer carwow > 9.1m EVERY carbuyer > 3.2m reviews autocar > 2.5m auto express > 2.1m MINUTE carfection > 1.6m 4.9/5 auto trader > 1.4m whatcar > 1.0m 3 MINUTES 9.7/10 response 74% Trustpilot (from 7,300 time of the of adults score reviews) best dealer saw our advertising on carwow in Q1 Growing Get in team touch 30 brand-aligned account managers Come in for a chat, give us a call or drop us a line: 150 staff across the UK and Germany 5th & 6th Floor New Penderel House 283-288 High Holborn London WC1V 7HP phone: 0203 780 7175 email: [email protected] PDF version: www.carwow.co.uk/accelerate A letter from the CEO James Hind // opefully by the time you read quantifiably offer a great service this you’ll have seen our latest that, in turn, gives customers the Hoffline marketing campaign, confidence to buy through them. which we’re spending over £5m on Ensuring that both customers and in 2017. We had a major burst in suppliers benefit is key to the Q1 to drive enquiries to our partner success of online marketplaces like dealers ahead of the March peak, carwow. In this issue of Accelerate and we’re repeating this in August we look at other online marketplaces and September. 2017’s campaign and how they’ve brought benefits to is a completely new creative that the consumer and the supplier. we developed by conducting considerable research into how We’re also proud to have launched customers feel using carwow, the our first manufacturer partnership strapline of which is ‘carwow. It’s car with Volvo Cars UK. By partnering buying with you in the driving seat’. with us, Volvo customers receive an enhanced experience over other Consumers told us that they like brands they look at on carwow. carwow as they like being in control The partnership allows carwow of how they get in touch with customers to calculate the monthly dealers, whether that be through cost of the Volvo they wish to calls, messages or by arranging a buy on PCP, with the flexibility to visit. They appreciate the ability to change the deposit, term and annual choose which dealer to buy from mileage. Finance is obviously a key based on reviews, location and part in the buying journey, and this customer service. PCP calculator is giving both Volvo So does this mean that it’s just consumers and dealers a better customers that carwow puts ‘in the experience on carwow. driving seat’? I hope you enjoy our fourth issue No. Dealers are in control as and find it thought provoking, and as well. Every dealer on carwow has always we welcome any feedback. complete control of how and what they sell – we don’t dictate the Sincerely, terms. Customer experience is the real lever that dealers have over their performance on carwow, and we promote those dealers that James Hind Founder and CEO [email protected] @carwowuk /carwow /carwowuk /carwow Feature 16 26 19 24 10 Contents News 06 New hires and team news 16 Dealer incentive – a night at Abbey Road Studios 24 carwow’s Q1 brand campaign 34 Dealer spotlight Insight 07 10 things carwow’s top dealers have in common 10 The 2017 Q1 carwow demand barometer 28 Dealership groups maximise profits with a strategic approach Features 08 The rise of platforms 21 2017: A huge year for Land Rover 30 Creating a template for success Expert view 14 carwow interviews: Steve Nash CEO of the IMI 18 PwC: How the auto industry will respond to change 26 MFG Group: Why the telephone is key to conversion 32 Jardine Motors Group: Hiring for success News New hires & team news Hiring this quarter has focused on expanding the commercial team to drive our expansion into new markets and strengthen our relationship with manufacturers. We’ve also made key product hires so we can launch new features for customers and dealers quickly. In January it was announced that we had been accepted We were also honoured to achieve 9th place in The into Tech City’s prestigious Future Fifty programme for Sunday Times 100 Best Small Companies to Work For. the fastest growing tech companies in the UK. The programme boasts an impressive list of past alumni including Just Eat, Deliveroo and Zoopla. Vanessa Lenssen Head of Used Car Proposition Vanessa joins to develop our nearly-new and used car proposition for dealers and buyers. She has a strong commercial and entrepreneurial background, having previously held senior leadership roles at STA Travel and Virgin. She has an MBA from London Business School. [email protected] Hasan Nergiz Head of Manufacturer Proposition Hasan started his career at BMW HQ in Munich before completing an MBA and joining the fast- paced world of FMCG. His passion for cars saw him return to the car industry and join Toyota Europe where he held a variety of roles in sales and marketing. He joins carwow from Nissan GB where he led the strategy and business planning department and sat on the executive board. His role at carwow is to help further develop our offering for manufacturers and consult on how our data and insight can be used to help inform manufacturer planning. [email protected] Julie McCue Business Development Manager, Leasing Julie has worked in the automotive industry for five years, most recently helping both large dealer groups and independent dealerships at contracthireandleasing.com. She previously worked at AutoTrader, where she was responsible for key accounts’ multimedia and advertising. [email protected] Rory Franklin Senior Developer Rory is a senior addition to our development team, working hard to build new features for buyers and dealers. He has eight years of experience building applications for the media and advertising world. [email protected] 6 carwow accelerate magazine 10 things carwow’s top dealers have in common We’ve analysed what the best-converting carwow partner dealers have in common. Their strategies are simple, streamlined and anyone can use them. Adopt these top tips to sell more cars and increase your visibility on carwow. The right person for the job 1 Look for people with excellent customer service skills and high computer literacy, who are comfortable communicating via both written and verbal media. Quick response time 2 Top converting dealers have an average response time of under an hour. A quick response time directly correlates to an increase in conversion rate. Keep response times down by having multiple people set up to use the carwow system, especially when your main carwow specialist is on holiday or off sick, to ensure someone is always looking after new enquiries. Shortcuts to success 3 Prepare template responses so that you can respond to buyers even more quickly. Just fill in the blanks and click send! (Check page 30 for more info on this.) Professional, helpful messages 4 Online customers expect the same excellent customer service that they’d get in the showroom (see page 26 for more info) – and deliver a positive message. A customer-oriented schedule 5 25% of enquiries happen outside working hours, and all a carwow specialist needs is wifi and a laptop or phone to respond. So why not flex your working hours to widen your shop window? Expert advice, ninja listening skills 6 The best dealers translate their showroom product knowledge to online expertise, effectively providing product advice remotely, and getting to understand the customer’s real needs through messages and phone conversations, so they can help find the right car for them. An adaptable strategy 7 Top dealers regularly evaluate their messaging, pricing and sales strategies. Stay on top of your offering to find out what works best for your dealership. Up-to-date stock feeds 8 Nearly 50% of cars sold through carwow are now stock or nearly-new vehicles. Just tell us who handles your stock feeds and we’ll do all the hard stuff. The right tone 9 Buying a new car is exciting – contacting a dealership should be too. Messages from top dealers are upbeat and friendly. They make the most of carwow 10 Your brand-aligned Account Manager can give you personalised advice on how to sell more cars this month. Successful dealers have regular catch-up meetings to go over the latest data and analyse any changes to market or consumer behaviour. 7 Feature enable Facebook and YouTube. This evolution translates across all sectors and categories. carwow is built on this business pattern: it The rise of operates a platform between car dealers and car buyers. How do platforms differ from linear platforms businesses? Platforms don’t operate a value chain. We all know we live in an age of disruption, and that Instead, they attract, match and connect the pace of cultural evolution is moving faster than ever distinct customer groups, and enable them to before. We know that it is led by the digital revolution. transact in a safe environment. For example, Launchworks’ Laure Claire Reillier explains the rise of car dealers and buyers for carwow; sellers and platform businesses.
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