‍The Importance of Digital Retail

Featured in the NETSA Summer 2022 Roadrunner Newsletter

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With consumers keeping their cars longer, new car inventory at an all-time low, and EVs going mainstream, dealers are realizing the importance of marketing and software that helps them sell more tires. Tires keep your customers coming back, increasing car count in the service drive and up-sell opportunities.

 eCommerce is no longer a novel shopping experience, but rather preferred and expected by many customers. 83% of consumers shop for tires online, but end up purchasing in-store because pricing and online purchase functionality aren’t available from local dealers. With e-commerce software, consumers can shop wherever and whenever they want. In fact, 42% of tire purchases are made outside of normal business hours. Consumers want to read reviews, compare prices, buy tires and schedule service from the convenience of their home. Offering flexible shopping increases your chance of capturing the sale.   

Not only does digital retail provide consumers an easy way to shop online, it also enables a streamlined process for shops to sell tires, which includes tools to view inventory, compare competitive pricing, and respond to customers quickly. Tires are a key factor in retaining a customer. The lifetime value of a customer is approximately $2K, and 80% of consumers service their car where they purchase tires. If you don’t reach the customer where they’re shopping, you’ll lose out to large online retailers. 

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How to be Successful with a Digital Marketing Strategy

Make it as easy as possible for shoppers to find you. A strong website with clear ‘calls to action’ and high-performing SEO, combined with an optimized Google My Business profile is the first step to success. Google can be an equalizer for smaller independent shops to compete with the large national chains. 

Digital advertising is the most cost effective way to reach your target audience, ensuring you’re bringing the right consumers to your business. Get your tire inventory on the front page of Google when shoppers search “tires near me”. Google Shopping Local listings puts your exact tire inventory in front of an in-market shopper looking to buy tires. 

The tire industry has converged with the world of online sales and dealers need to adapt to this new landscape. Utilizing digital retail software and marketing platforms will help you grow sales and improve customer satisfaction in this changing environment. Don’t just be an installer for large online retailers, meet the customer where they are, and win their business and trust. You’ll be more profitable doing so.

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Sources:

1. Bridgestone
2.  TireTutor internal data
3.  TireTutor internal data (net present value of a consumer); Bridgestone