Drive to Success is a weekly series capturing the most influential articles, tips, and tricks from industry experts and publication to help drive your dealership to success. Each week will focus on a specific key topic in the automotive industry.
Women influence over 80% of all car purchases. Such a strong demographic should inspire your dealership to strategize for selling to women specifically. Hiring women onto your dealership staff should be a priority for your dealership if you want to increase your sales with women buyers.
1- Use Attention and Intention to Increase Sales to Women
Digital Dealer: Over 80% of all car purchases are influenced by women and over 50% of car buyers are women, and that percentage increases to 53% for millennial women. Slightly less than half (48%) of women purchase cars by themselves. One in three women now out earn their husbands. Carefully prepare your dealership strategies for selling to women and watch your revenues increase.
2- ‘Macho’ Sales Culture Hurts Dealerships
Automotive News: Turnover among female employees was 46 percent in 2016, compared with 41 percent for males, according to an early version shown to Automotive News. Women fill nearly 90 percent of office and administrative support roles at the dealership. Utilizing more women on your dealership’s staff will help female buyers feel more confident in the purchasing journey.
3- Millenial Women and Your Market Share
Women-Drivers.com: A study by Women-Drivers.com reports that 44% of millennial respondents viewed a dealership’s Facebook page, an average of 10% higher than non-millennials. The study also showed that out of all women making car purchases, 53% of them were millennials. Make sure your dealership knows how to market and sell to this group of women.
4- Why Aren’t More Women Present Within Dealership Personnel?
NADA Blog: Does your dealership host a male dominant atmosphere? One where a female could feel potentially awkward in? Do you have salespeople still huddled at your entrance? Let’s face it, no one feels comfortable approaching a small gang when looking for a career opportunity, let alone if buying a vehicle.
5- How Confidence Influences Female Behavior and Auto Dealer Success
Digital Dealer: Gender is the most powerful determinant of how a person perceives the world. Women who transitioned from the role of car shopper to a car buyer with a same-day purchase reported feeling 9.1% less confident and 10.3% more nervous than those who shopped around.
Check back next week for another Drive to Success: Change Management. You will learn how to keep your dealership staff on board when making changes for overall improvement.
