Importance of Online Reviews For Automotive Dealership Sales

Online reviews on automotive dealer’s website are valued features and play a key role in influencing the customer’s automotive buying decision. Online reviews are sought after by customers using Internet at every stage of car buying process, as they offer existing customer experiences on vehicle models, services, policies etc of particular automotive dealers. It is important to include online reviews and testimonials in dealer websites as they help in retaining the existing customers and builds initial trust among potential customers. It helps to increase sales as prospective customers prefer to deal with dealers they can trust.

Positive Impacts:
Online reviews positively impact the dealership sales by increasing the confidence among both existing and potential customers.

Credibility
Potential customers perceive online reviews as authentic, genuine opinions from other customers and feel that they are receiving accurate information. They provide an effective way for dealers to communicate with customers. A good number of positive reviews on dealer website mentioning satisfactory experiences of customers are likely to instill confidence among potential customers. The potential customer can feel more comfortable and satisfied when reading a comprehensive evaluation of the dealer from a large number of customers. Even, the way dealers handle negative reviews by customers by quickly and efficiently resolving problems increases the trustworthiness of the dealers. It is likely that such unhappy customers will revert back to the same dealer.

Included In Consideration Set
The customers usually have a pre-defined set of vehicles that they prefer to buy. The automotive dealers in order to increase their sales needs to persuade the customers to alter their consideration set. The customer generated content like vehicle ratings and reviews, consumer ratings and reviews, dealer ratings and reviews can be effectively used by automotive dealers to alter the consideration set of these automotive internet users. The information given through dealer ratings and reviews can effectively target the new-vehicle buying customer segment. The reviews enhance dealer consideration among customers as both positive and negative reviews increases awareness level of the particular dealer. Also, positive reviews improve the attitude of customers towards dealers. Thus, expanding the consideration set helps to increase automotive dealership sales.

Reassurance
The online reviews and testimonials at automotive dealer website provide reassurance to the new customers that the dealer stands for professionalism, quality, credibility, and security. Reviews by previous customers reassure the potential customers that it is safe to deal with this dealer and there is commitment to customer’s privacy. Providing reviews on dealership website also increases conversion rates as it increases trust and confidence among first time visitors. Thus, existing and new customers will confide upon the dealership that helps to increase sales.

Negative Impacts If Not Monitored:
The negative online reviews can have impact on the attitude of customers towards automotive dealers.

Left Out From Consideration Set
Online reviews influence the purchasing decisions of automotive internet users. Also, they are checked while researching for a particular car on the Internet. Thus, ignoring or not monitoring the online reviews means failing to effectively target the large segment of automotive internet users and getting left out from user’s consideration. Poor online reviews and testimonials can fail to persuade, build confidence and trust among first time visitors and lose out on important prospective customers.

Needs More Time To Convince The Buyer
Online reviews and testimonials indicate the satisfaction of other customers due to better services and quality offered by dealer. Potential customers reading improperly monitored reviews are likely to view the dealer as less reliable and not trustable. Thus, the dealers may have to put in more efforts and time to convince the customers.

As online reviews are like online conversations between customers, automotive dealers need to actively get involved in them that can result in sales growth. The automotive dealers can leverage online reviews and testimonials by existing customers to generate new customers by efficiently targeting them at each step of car buying process.

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Check Automotive Reviews First to Go For a Car

Cars are the most striking and impact utility providers. They have more usability as compared to any other vehicles for the individuals. Besides travelling, we can also use them for the pickup and family get together purposes. There are several other advantages as well attached with the car buying thus revealing the significance of car industries in the automotive sector.

Prior to buying a car, one needs to be well informed and have proper knowledge on car buying. You can get the information not only in leading newspapers and magazines but online a as well with the help of the latest automotive reviews. These latest car feedbacks or reviews has number of advantages which enhances the significance of the car buyers.

Keeping in touch

You can be in touch with the latest trends and affairs of the manufacturers by going through the latest car reviews. It covers almost all the leading manufacturers.

The comparison benefits

The neutral touch of other car reviews is rationally important. The evaluation of different latest vehicles through the most recent car reviews helps to select one most suited for your need. These reviews have exclusive coverage and make the readers capable of deciding of car buying by way of comparing features of different vehicles.

The procedure of buying latest cars

The latest car reviews section not only provide the reviews and news of the latest vehicles available in the market but also pass the information and professional come up to of the buying process of latest vehicles. Furthermore, these reviews also make the readers conscious of the features that can make the process of buying car smoother and easier.

Informing about the global cars

With the help of the latest car reviews you can get the sight of the global cars. You can receive the limited stock idea in the physical buying but while going through the latest car reviews, you can have the view of range of different car options and the advantages of these vehicles can be well adjusted in the mind of the readers. You can also receive the knowledge and other information regarding the items that are not available in the country with some efforts, you can approach these car dealers by the car reviews.

Therefore, these reviews prove to be quite convincing and attractive for the buying vehicles of the world. Develop the habits of reading the latest and new car reviews.

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Make an Educated Choice With Automotive Reviews

What are the benefits of automotive reviews and who benefits from them? The answer appears to be simple. The consumer is given all the details he/she might be interested in, as well as a rating of the automobile, so he/she appears to be the sole beneficiary of automotive reviews, since they are useful instruments in making the right choice when purchasing a car. But automotive reviews can work for the benefit of car dealers just as well, as their websites will be considerably trafficked, and initiation of leads from the part of the informed consumers – potential consumers – is more likely to take place.

When car dealers are interested in attracting visitors to their websites, they have a great variety of means at their disposal. A good ranking made by a search engine will definitely come with an increased number of visitors, but another problem still remains. How do you retain those visitors and turn them into potential customers? Automotive reviews are the answer. Good automotive reviews offer the right information that the visitors require. A first step, which is very important, is that the potential customers will spend quite some time reading the automotive review posted on the website. The purchase of a car is an important step and deciding upon a certain car model may prove to be a complex and painstaking process. Regardless of their financial possibilities, all the potential buyers feel the need to be well informed before they move on to the next step, that of actually paying for the car and driving it home. When researching, customers will find it useful to have access to independent automotive reviews, which will guarantee that their best interest as consumers comes first. The right information offered by independent automotive reviews can turn a visitor into a customer very quickly, and this is what car dealers have to take advantage of.

Automotive news is another means of keeping the potential customers informed. The latest news make the object of interest for all those passionate about cars, or those researching for a car purchase. However, many people consider that the automotive reviews found on automotive blogs are to be trusted more than any other means of information. Consumers trust automotive blogs because they know that most of the information there comes from people just like them who have something to share. Providing the consumer with the possibility of writing his/her own review of a car is important. People wish to make educated choices when it comes to purchasing a car, and automotive blogs offer them the information they need.

An automotive blog is not just a reliable source of information, but is also available at any hour, since the internet has no limitations whatsoever. An automotive blog will provide visitors with all sorts of information, such as tips for buying cars, maintenance, car repair and safety, environmental issues, and so forth. Some other car-related aspects may constitute the reason why people affiliate to an automotive blog. These aspects may refer to esthetics, utility or power.

An automotive blog is all the more reliable when it contains photographs or videos, or gives reference to other car blogs or similar websites, showing that the consumer’s best interest comes first.

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Automotive Reviews and Skeptical Journalism

When we hear the words ‘automotive reviews’ we think of comparative tests, investigations, technical details, advantages and disadvantages of a particular car model. People are most interested in automotive reviews when they are about to purchase a vehicle. This is an important decision for the potential buyer since the car may remain in his/her possession for many years. Actually, statistics say that the purchase of a car is the second largest expense for many people. In developing countries, the situation is even worse than that, as choosing a certain car is sometimes a life commitment for those people. Under these circumstances, automotive reviews are a must. No automobile is to be purchased without having consulted its review.

Automotive reviews are useful for all kinds of customers, from those are simply interested in buying a cheap car with good gas mileage to those who are mostly interested in design and comfort. To all these people the purchase of a car may appear as a very challenging experience, since the auto market is vast and the lack of experience can prove to be a serious drawback. Needless to say all those interested in purchasing a car should follow the latest automotive news in order to keep up with what is new in this vast and complicated area. However, automotive reviews cannot be found on television every day, nor do they appear in newspapers. Moreover, specialized media, such as auto magazines, which are issued weekly or monthly, may not give the automotive reviews you need when you need them. Therefore, a good source of accurate and reliable automotive reviews is the Internet. Automotive blogs are full of information with and about cars and many related topics. In addition, you get more than statistics or official figures, because people like you have posted their comments or facts from personal experience on those car blogs. Sometimes this beats all automotive reviews.

As we have stated before, there are many sources of automotive news and reviews. The problem is that some of them may not be as reliable as we think and this can be damaging to the consumer. There are times when the interests of certain companies stand in the way of giving consumers honest advice. A good share of criticism is not a must have for automotive reviews. However, skeptical journalism is proof that the consumer’ s best interest is at the top of the priority list. Auto magazines present a lot of automotive reviews because that’s their line of work, but they will rarely point out possible flaws of automobiles.

Everyone will agree that in the auto magazines or TV shows, the automotive reviews sound a little too good to be true. You can check out the latest automotive news in magazines and on TV shows, but as far as the reviews are concerned, you should only trust what you see with your own eyes. This may turn out to be a little difficult at times, but fortunately we live in the technology era, and seeing it for yourself is now possible on the internet. If a car reviewer speaks of some less appealing features of a certain automobile, there’s the chance of actually seeing them by means of multimedia. Criticism equals bad publicity, so when it comes to magazines or television shows, there’s a good chance that the consumer will be deprived of his right to be honestly and correctly informed. Therefore, the internet remains the most reliable source of both automotive news and automotive reviews.

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Know Why Online Reviews Are Important for Auto Dealerships

Today, a significant number of people are using the Internet to find the best products and services. Over the past few years, the Internet became one of the popular platforms for consumers to shop and for businesses to sell their products. Almost every business including, auto dealerships, have an online presence today.

If you’re an auto dealer, ask yourself, are you successfully leveraging the benefits of the Internet? Do you know what people are doing online when they want to purchase a vehicle or when their vehicle needs repair? How do they know if a dealership is trustworthy and competent? Here’s the answer! They are simply reading online reviews – personal recommendations by fellow buyers or end users. According to a Nielsen global consumer report, ‘Global Trends in Online Shopping 2010′, 45 percent of online respondents consider reviews on cars as most important online influences when making a purchase.

Customers usually publish their reviews on review sites, forums, blogs, or even on the dealer’s website. Consumers aren’t the only ones who benefit from reviews; dealers also benefit from online reviews. The more positive reviews for your dealership, the better customers, or potential customers, feel to approach and do business with your dealership. Through customer reviews, dealers will know what they are doing right and what needs to be improved in their service. Reviews give dealers an idea on how their product or service is actually doing in the market. This shows that online reviews are very important for auto dealerships to stay ahead of their competitors and win prospective buyers.

Makes your dealership trustworthy
Consumers tend to believe what previous customers say about your product or service since the latter have already used them from your dealership. Online reviews mentioning satisfactory experiences of customers are likely to instill confidence among potential customers. Thus, if most of the reviews about your dealership are positive, the chances for your sales to improve from prospective customers will increase because people prefer to deal with dealers they can trust. Online reviews and testimonials in dealer’s website build initial trust among potential customers.

Influences buyers’ purchase decisions
Online reviews by customers are often overlooked by dealers. Today, there are enough studies proving that online reviews influence a buyers’ purchasing decision. According to a latest survey released by Opinion Research Corporation, 84 percent of Americans say that online customer reviews have an influence on their decision to purchase a product or service. Dealerships should take a broader look into how they can use online reviews.

Effectively targets new vehicle buyers
Customers usually have a pre-defined dealer in mind from where they want to buy a new vehicle. In order to target these new vehicle buyers, your dealership needs to persuade the customers to come to your showroom. Online reviews, which include vehicle ratings and reviews, consumer ratings and reviews, dealer ratings and reviews, can be effectively used by automotive dealers to alter these online users’ consideration and get them into your showroom. Online reviews and testimonials by existing customers efficiently targets new vehicle buying segment and directs them to your website.

Auto dealerships should be aware that consumers are viewing online reviews as part of their buying process. Therefore, it is very important for dealerships to manage their reputations online in order to be considered by consumers and to be ever-present in the customers consideration set. If they can do it, dealerships can undoubtedly raise sales-conversion rates and increase loyalty among the customers.

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Project Risk Management and Assurance

Why do so many organisations embark on high-risk projects without demanding robust project assurance?

Projects fail for many reasons. Recent global studies indicate that inadequate risk management is a common cause.

Successful project managers aim to resolve high levels of exposure before they occur, via systematic risk management processes.

Many projects are inherently exposed to myriad risks and are often significant in scale, complexity and ambition. Delivering large-scale projects can often be adversely impacted by a bias towards being over-optimistic.

Imperfect, insufficient or inadequate data increases exposure that often results in over-estimating benefits and under-estimating costs.

Managing macro and micro-level events related to achieving project deliverables, whilst balancing the needs of many stakeholders, has become increasingly important.

Assessing risks at both portfolio and work-stream levels helps increase confidence that risks are understood.

Projects are often prioritised relevant to their levels of perceived exposure and one has its own risk profile.

Project Risk Management

Project risk management focuses on identifying, analysing and responding to project events.

It should be designed to systematically identify and manage levels of uncertainty and potential threats to delivering project objectives successfully.

Risk management processes should be iterative throughout a project’s life-cycle and embedded in project management planning and activities. Smaller projects often require minor work and periodic monitoring.

Complex projects need formalised processes to analyse, manage and report risks.

Good reporting relies on clear descriptions of all exposure, their impact on the projects, and potential costs for mitigation and inaction.

This helps ensure project personnel understand the potential impact risks may have on projects’ success and have prepared strategies to minimise negative consequences.

Problems occur when there is limited visibility of risks at project and portfolio levels or approaches to risk-management are ad-hoc and inconsistent.

Further problems can arise when risks are identified but recorded at a very high level accompanied by highly subjective risk ratings, rather than being the result of more substantive risk assessment.

When these problems arise, an organisation would benefit from clearer, more formal and wide-spread processes for capturing and monitoring risks.

Project and Portfolio Risk Assessments

Project and portfolio risk assessments should be undertaken to understand their risk profiles and associated threats in achieving business objectives.

Assessments should identify the action plans to address the risks identified and allocate executive responsibility to manage them. Additional risk assessments should be carried out on selected projects (perhaps by prioritising them by value or complexity).

Risk management processes should be on-going and monitored throughout a project’s life-cycle.

Regular risk reports would provide Project Sponsors, Senior Responsible Officers and Steering Groups with better visibility of projects’ risk profiles.

Whether you’re responsible for overseeing or managing a project, robust project assurance will help you address the risks that threaten its success.

Mark Gwilliam FCCA CA is the founder and Director of Business Advisory Services.

From humble beginnings, the firm has grown from strength to strength.

It has matured from a small accounting and tax services practice to one that helps small business owners, entrepreneurs and executives navigate complex challenges; including strategy, risk management and internal audit, managing shared-service centres and operations.

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