Working for some of the top Canadian Luxury Dealers wearing many hats, Munish Sharma was often inspired by other, more result- and data-driven companies in other business sectors. On 1 April he joined Phyron, a global leader in automated car video solutions as Senior Account Executive. He says:
”To ensure a steady inflow of leads, many Canadian and US dealers pay a lot of money to external “lead companies”. They may well get the number of leads they ask for, but the quality of these leads are not always what they should be. The other concern is of course that an external source makes a rather big hole in your budget. But the big problem is that you are stuck with old, inefficient leads management.
So, it’s all about leads management?
That’s an important part of it. When you pay external vendors to generate leads, you rarely get the most efficient marketing, like video ads. And you definitely don’t get the most time- and cost-effective internal workflows. They may use digital marketing tools alright, but then the entire sales process remains very manual.
The main reason why I joined Phyron is their solution to make the dealers’ online showroom do all the hard work. It works so well in other industries, and I have often wondered why many car dealers spend a small fortune every year to manage their huge physical inventories and showrooms. I mean, some of them are gigantic.
What car buyers want is an effortless, seamless journey from spotting and examining the right car to closing the deal. Which would obviously be much better for the dealer too. During the pandemic Tesla and others launched various versions of “touchless delivery.” That’s one inspiring example of what can be done, also in terms of business and marketing efficiency.
What do you mean by “the digital showroom doing all the hard work?
The solution is very simple from the dealer’s point-of-view: The existing pictures, text and data in the dealer’s car catalog are turned into attractive videos, generated automatically in real-time The video are ready for use on your site, in external marketplaces, and social media. No manual work involved, whatsoever. So the sales people can focus entirely on what sales people do best, building relationships and closing the deal.
Video is by far the most effective sales tool, and here you can get tens of thousands videos, each one highlighting all the best features of the car within the first 30 seconds or so. And you can easily include whatever financial or other services that apply for the specific car. It’s awesome, you really must see it to believe it.
You have also talked about the quality of the leads...
Yes, when you keep the entire lead flow in house, you can apply all sorts of KPIs to ensure that you use your sales and marketing resources in the most effective way. So, besides talking to a dealer’s sales and marketing people I also try to involve the person responsible for digital.
What about sales and marketing channels?
When you have unlimited and effortless access to high-quality video, ready for use also on Facebook, external car sites, and so forth you have taken a great leap towards omnichannel marketing.
As a dealer, you may have other ideas, and I would be excited to hear about them. I know it’s still early days but … what can you say about the results so far?
Here in Canada both the customer success team and the technical infrastructure are in place coast to coast. Like my colleague Colin Richardson, I am calling on dealers to talk about the challenges and opportunities ahead. The people I meet confirm that this should be as interesting for North America as it is for Europe, and the first Canadian dealer recently went online. Very successfully so, it seems.
Technically, our ad automation machinery has already produced some 230 million unique ads, worldwide. Businesswise, more than a thousand dealers are up and running, and so far not a single one has left. The reason is of course that they are satisfied with the results. One of our customers recently reported that ads with Phyron videos get an average 50% more visits and cars are sold 3-5 days faster. For a car dealer, that means lower total sales cost.