Partnership provides dealer training and tools to take bigger bite out of $29 billion accessories market and increase dealership accessories sales by nearly $500 per vehicle
San Francisco, California – October 5, 2011 — izmocars (www.izmocars.com) and Ask Patty (www.AskPatty.com) today announced they've teamed up to provide car dealers with the training and tools they need to more effectively market and sell automotive accessories to women, who purchase nearly as many accessories and aftermarket products as men.
The partnership, which is designed to provide women with a better in-store purchasing experience and to help dealers capture a much larger share of the staggering $29 billion accessories market(1), brings together two critical components of AskPatty.com and izmocars AOA businesses that have proven to increase dealer revenue:
– The AskPatty.com Certified Female Friendly® Program, designed from the ground up to train and certify dealers on how to attract, sell, retain and increase loyalty with female customers
– And izmocars AddOnAuto (AOA), an in-store digital sales tool that allows customers to virtually add or remove car accessories and instantly view them on their vehicle of choice – conveniently for the customer at the point of purchase, and easily for the dealership by streamlining the sales process and eliminating the need for physical inventory
Citing SEMA reports that highlight the purchasing power of women when it comes to accessories(2) and lackluster accessories sales at the dealership level(3), izmocars AOA's vice president, Sidney Haider, says the time is now for dealers to make marked improvements in accessories sales in general, and to women specifically.
"It doesn't make sense that dealerships sell less than five percent of all accessories sold. Car buyers are captive accessories buyers to whom dealers can provide real-time visuals of thousands of different add-ons, as well as instant sales and customer service fulfillment — without having to carry cumbersome inventory. Since women buy nearly as many aftermarket products as men, dealers can miss out on significant revenue opportunities by failing to meet the needs of female customers."
Haider says automotive chains, specialty shops and mail order suppliers are presently capturing the lion's share of the behemoth accessories market, capitalizing on sales opportunities best suited for dealers who continue to struggle in a tough economy. And data from izmocars' midyear 2011 report(4) demonstrates the urgency for dealers to diversify and enhance revenue streams, similar to the way Dry Ridge Toyota of Kentucky used AOA to increase accessories sales 270 percent in two years, while scoring a 99 percent CSI in the process(5).
– While vehicle sales in the US market continue to show modest growth, they're still far removed from their high point in 2005. Further, recent economic challenges are contributing to the ongoing tightening of the consumer wallet.
– With 37 brands competing for a shrunken pool of car buyers, price offers become better for consumers. On the other hand, the ability of dealers to maintain profits and gross becomes increasingly challenging.
– A recent study of 180 dealerships who adopted the AddOnAuto sales tool showed that the average dealership analyzed increased accessories sales by $475 per-vehicle-sold, with average gross margins of 47% and average net profit margins of 32.8%, compared to 45% and 28% respectively for all of 2010.
Jody DeVere, CEO of Ask Patty, says dealers have a powerful built-in advantage they simply aren't leveraging to capture a larger piece of the accessories sales pie.
"For starters, women are much more interested in 'blinging' their ride than most dealers realize. What's more, women appreciate ease, convenience and a low-pressure environment, especially when it comes to car buying. Dealers can have a significant competitive advantage in accessories sales by allowing women to visually and easily configure their cars with accessories, and then conveniently roll the cost of those accessories into their monthly payment – all within that 'sweet spot' moment of purchase."
DeVere says these are just a few examples of the sales and marketing practices that speak relevantly and effectively to women, to influence purchasing decisions. "We see AOA as a perfect complement, a natural fit, to the fundamentals of our training program."
Haider says that while women represent a powerhouse customer segment in the accessories marketplace, the ideal situation is for dealers to improve accessories sales for all customers.
"We're extremely pleased to partner with AskPatty, a company that brings an unparalleled level of expertise to automotive marketing and sales for women. Most importantly, we want dealers to enhance their accessories sales operations across the board – from visualization tools on the front end, to a more streamlined sales process on the back-end – for women and men alike."
izmocars is a leading provider of Automotive Business Solutions including: Website and Online Marketing Solutions, Enterprise-level Automotive CRM, iConsult – Sales Performance Coaching and AddOnAuto – an In-Store Accessories Sales Solution. izmocars is also the world's leader in Interactive Media Content for the automotive industry. Founded in 2002, izmocars services some of the most successful eDealers in the country. izmocars is based in San Francisco, with offices in Long Beach, CA, Chattanooga, TN, Philadelphia, PA, and Brussels in Europe. For more information, go to www.izmocars.com
About AskPatty.com, Inc.
With international headquarters in Thousand Oaks, California, AskPatty.com, Inc. takes a two-pronged approach to revolutionizing the women's automotive retail market: For consumers, the AskPatty.com website, is a safe and reliable source for expert automotive advice and research. For auto dealers, tire dealers, collision centers, auto service and repair centers, the revolutionary AskPatty.com Certified Female Friendly® program, designed from the ground up, trains and certifies automotive retail and service centers on how to attract, sell, retain and increase loyalty with women customers. Women can find an Ask Patty Certified Female Friendly® auto dealer, tire dealer, collision center, auto service and repair centers using the location search at AskPatty.com. Go here to learn how to become Ask Patty Certified Female Friendly®. AskPatty® and Certified Female Friendly® are U.S. registered trademarks owned by AskPatty.com, Inc.
(1) 2011 SEMA Annual Market Study, Total retail specialty equipment sales for 2010: $28.60 billion
(2) SEMA 2007 Trends and Forecast Quarterly Update- Q2 , “..nearly the same number of women as men said they planned to buy… 22% of men said they will make a purchase whereas 21% of women said they will shop for specialty equipment over the next three months.”
(3) 2011 SEMA Annual Market Study, New Vehicle dealers sold 4.5% of specialty equipment in 2010
(4) AddOnAuto Midyear Trend Report Q2 2011. http://www.izmocars.com/trend-
(5) Rob Marshall, Dry Ridge Toyota, Dealer Magazine cover story, September 2011, “…we now sell an accessory of some type to two out of three new-car buyers and to about a third of our used-car buyers for about $700,000 a year in accessories sales.” http://www.izmocars.com/
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