Video killed the forecourt star
The traditional car salesman could become a thing of the past within five years, with video technology making their roles redundant. Instead, dealers will employ video relationship managers and technical presenters to sell their cars.
That is the message of a White Paper published by video technology pioneer CitNOW. Entitled ‘How video has changed the face of the automotive industry forever’, the paper said the retailer will always remain crucial, but predicted that video services, advancing mobile device technology and the introduction of 5G would change the car-buying landscape immeasurably by 2020.
CitNOW CEO, Alistair Horsburgh said, ‘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 touch point. 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. Driven by the consumer, video will have made the motor industry unrecognisable in the next five years.’
CiNOW’s White Paper found that 86% of dealers using video said it had a positive impact on customer retention, while 88% of used car sales and 70% of new car sales were completed within four weeks using video.