Select your preferred player below to subscribe now:
About This Episode
Macroeconomics teams forecast that automotive sales most likely will decrease 14-22% among the China, US and European markets in 2020 because of Covid-19.
People are sheltering in place, they’ve lost income, and things across the board-and the world- are all uncertain. Heading out to purchase a new car to park in your driveway just doesn’t seem at the top of the priority list.
Developing a range of scenarios and robust contingency plans to navigate through these turbulent times is key.
A strong background in the automotive industry made his trek down the well worn path to Silicon Valley to join Roadster a great fit.
Carvana and Tesla led the charge with their tech centric purchasing software for the high end car sector. Roadster has developed that exact same technology and has been introducing it to car dealerships across the US, so now, your Toyota dealer around the corner has the same buying experience tech wise as the Mercedes Benz dealer up the road.
We talked about the impact of Covid-19 on the car industry and his team.
Efficiency, Engagement and Satisfaction
When Covid 19 started to spread like wildfire, we all had some scrambling to do.
As a startup, Roadster was already fluent in lean, so their plan was a familiar one;
- Hunker down and be conservative.
- Rethink the onboarding process.
- Shorten the sales process
- Continue to deliver value
For Roadster, what was a 4-6 week onsite process integrating their tech and training dealership teams how to use it pre-COVID, evolved into an off-site, 10 to 15 days, which has really shortened the overall sales cycle. This is not a bad thing. According to Amir, this has resulted in an increase in sales pace and a decrease in total days to sale.
“Hey! You know me, buy from me! I’m with x company now!
Have some donuts!”
Relationship based sales in the form of food, tickets and hookups is as old as sales itself. Roadster doesn’t diminish the value in building relationships, but they tend to rely more on the value the product they deliver brings to a dealership and less on the courting approach.
Are the dealerships benefitting from the product?
Are the consumers having a positive buying experience?
In-person relationship building is off the table right now, and no one knows what’s coming down the pike. Focusing in on the product and the solutions it brings needs to be the core.
Straightforward, solution based dialogues
Roadster gets most of our business through inbound leads.
The prospects they interact with are somewhat informed about the product and are reaching out to learn more.
Amit steers his team towards introducing a dialogue that respects and leans into that which accelerates problem identification and the sale. Here’s an outline:
- Understand exactly why they reached out to you.
- Learn what they are looking to accomplish.
- Find their pain points.
No donuts. No nonsense.
Just a direct, valuable dialogue that offers hard solutions to their problems.
When painting a picture backed up with data, Amit’s team highlights the efficiency his product brings to the dealership.
It’s a more elevated, successful sale for them when the customer has had an engaging and satisfactory experience.
As we emerge out of pandemic mode, the companies who have positioned themselves based on value and merit have the best chance of weathering the storm. We look forward to watching Roadster tooling on down the road!