Building and winning trust is essential from the start of the sales cycle all the way through to its conclusion. If a customer has any reason to doubt what you are advertising and selling – whether online, on the phone or in person – they are more unlikely to follow through and purchase.
By focusing on delivering trust, your business will deliver a more satisfactory customer experience that helps to increase qualified enquiries, visits and sales – and results in more repeat business and more referrals.
Here are 10 tips to help build buyer trust and confidence in your stock and business:
1) Provide history reports
Dealers can help satisfy buyer needs for transparency over a stock item’s past life by adding a history report to your online listings. These reports tick the boxes that informed used car buyers are now trained to look for including a written off check, stolen check, warranty check, odometer check and more.
With a comprehensive history report, buyers can easily and quickly understand the past life of a stock item and make a more informed and confident purchase decision.
2) Attach inspection reports
With constant and much publicised recalls in addition to increased technology and complexity, much of what buyers fear is the condition of everything they can’t see in your professional photos and video.
That’s why buyers place much importance on comprehensive inspection reports – such as those offered by industry leader RedBook – that provide a transparent, independent and credible assessment of a stock item’s working condition
With an inspection report, buyers can make an informed decision to purchase a stock item, safe in the knowledge that a detailed inspection has been undertaken by specialist mechanics.
For dealers, attaching inspections reports to your listings can help enhance your reputation as a seller of quality stock and improve the buyer’s ownership experience – helping to foster greater loyalty and repeat purchasing.
3) Add a warranty where possible
Stock advertised with a warranty can appear as a more trustworthy and easier purchase proposition, as buyers can feel peace of mind knowing they are protected from unexpected mechanical breakdown.
Adding a warranty to your stock items also has reputational benefits by communicating your confidence in the quality and reliability of your offerings.
4) Highlight Certified Pre-Owned stock
Buyers that understand the benefits of Certified Pre-Owned (CPO) stock items have a higher perception of dealers that offer them.
In a recent carsales study, CPO leads closed at a higher rate than comparable non-certified leads, with the number of people reporting that that they had purchased the car being 16.4% higher for leads on CPO items. Additionally, for consumers submitting leads on CPO items, warranty was the most important factor in their purchase decision, with price and location far less important than it was for non-CPO purchasers.
AutoGate makes it easy to list a Certified Pre-Owned stock item. Contact your Performance or Account Manager for more information and check out our whitepaper for a full investigation into the effectiveness of Certified Pre-Owned programs.
Source: carsales whitepaper, The Rise of CPO, February 2017.
5) Add OEM-backed Special Offers
Special Offers empowers you to attach an applicable manufacturer promotion against your new stock item at no cost, with one-click activation in AutoGate.
With OEM backing, a Special Offer can often carry more credibility with buyers and appear as a more trustworthy purchase proposition. In addition, Special Offers can help dealers standout from the crowd and generate more leads by delivering more urgency to purchase before the great deal expires.
For more information on Special Offers, contact your Performance or Account Manager.
6) Polish your social media presence
Some buyers will assess your trustworthiness on your online reputation and social media presence.
Dealers can build trust with buyers by highlighting positive reviews and testimonials, charitable acts, supported causes and staff accomplishments across applicable social media platforms.
Drawing attention to these initiatives enables buyers to verify your commitment to corporate and social responsibility and humanises your brand – helping them feel more comfortable and confident in purchasing from you.
7) Align your website with your listings
Buyers will often visit your website after viewing your online listings on carsales, to continue their research. Inconsistent messaging between your listings and websites – such as different pricing, different odometer readings or specifications – can impact on your trustworthiness. Therefore, ensure that all information provided to buyers across different channels is aligned and consistent.
8) Include professional photos to your listings
Professionally-produced photos and videos tell a transparent and engaging story about a stock item’s condition and/or features. On online listings, photos (along with pricing) capture attention and can convince a buyer to click through and contact the vendor.
Subsequently, the number and quality of photos attached to an online listing can play into the natural scepticism of a buyer and lead them to draw conclusions. For example, without a quality and detailed image of a stock item’s interior, the buyer ideas may doubt its condition or level of specification.
For quick tips to producing better photos click here.
9) Add better comments to your listings
Buyers read the comments on online listings, making this section a great opportunity to provide additional information that facilitates informed decision making and highlights your competitive advantages. Adding generic or incorrect comments that conflict with your photos or website, can impact on your trustworthiness.
10) Quickly follow up prospects
The speed and comprehensiveness of your follow-up contact will impact on their assessment of your trustworthiness and differentiate you from competitors, so ensure that you get back to prospects as quickly and as thoroughly as possible.
Always offer to provide additional photos and videos, inspection reports, history reports and other initiatives that demonstrate your commitment to a transparent sales process, as buyers will appreciate extra information that helps them make an informed purchase decision.
For more information on how you can build trust and buyer confidence in your business and stock, speak to your Performance or Account Manager.