Video will usurp showroom visits

Video will usurp showroom visits

buying-the-car-online (1)Automotive UK video specialist company CitNOW, has revealed that the face of the dealership sales industry will dramatically change by 2020 as a result of videos’ increasing influence.

In a research paper titled: How video has changed the face of the automotive industry forever, the company forecasts significant changes to the industry such as salesmen and workshop technicians spending more time in presenting videos rather than on other duties.

The report notes that: “The very nature of their roles could shift to job descriptions like ‘video relationship managers’ and ‘technical presenters’ within five years, as video becomes the number one business tool for the automotive industry”.

According to the report, 75% of people watch a video review of their next four-wheeled purchase, before even setting foot in a dealership.

It predicts that soon the entire process will soon be taken over by live video calls. This will include haggling with dealers, agreeing part-exchange prices and selling cars privately, all over face-to-face negotiations using a smartphone.

The research also reveals that 86% of dealers in the UK say that video had positively impacted on customer retention. Dealers utilising the technology found 88% of used car sales and 70% of new car sales were completed within four weeks of using video.

CitNOW chief executive Alistair Horsburgh says: “At the moment the industry is in its first phase where it is embracing the benefits of video as a revenue and profit driver. But as video enters its second phase, the customer will be expecting a video rather than an impersonal email, text or letter as video facilitates a two-way conversation.

“Video will be integrated into every customer touchpoint. Its convenience and transparency will see the best dealers and manufacturers dramatically improve their customer retention figures. It will become a core pillar of an OEM’s CSI strategy; a driver of a brand’s marketing strategy.”

Horsburgh concludes by pointing out that video will make the motor industry unrecognisable in the next five years – driven by the consumer.

CitNOW counts 28 car makers and 88 of the top 100 UK dealer groups among its business associates. By the end of 2016 it forecasts that its customer base will be of over 5000 dealers.

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