Bob Lanham on How Dealers Have Enhanced the Purchasing Process in Response to the Growth of Digital Retail

CarNow’s Bob Lanham joined Jim Fitzpatrick on CBT News’ Inside Automotive to discuss his new role at the company and explore the launch of the latest CarNow products.

CarNow has successfully launched a new Showroom Dealmaker solution that improves the customer experience at dealerships. Showroom Dealmaker allows buyers to seamlessly pick up where they left off once they enter the dealership, eliminating the need to start from scratch, and aims to improve the current legacy transaction systems used by dealers, allowing for a better experience for both buyers and sellers.

Bob emphasized the need for dealers to adapt to the changing landscape of the industry, where customers are more concerned about their experience than the price of the vehicle. CarNow provides a single-platform service that help dealers be more transparent with consumers while improving their overall experience. According to Lanham, “in 2019, 54% of consumers worried more about their car-buying experience than the vehicle’s price. In just one year, it rose to 64%, and by 2021, it had reached 84%. Facts over feelings should always be the starting point when trying to attract customers. In other words, we need to start examining the numbers.”

Improving the customer experience is critical, as OEMs are checking on their dealers’ performance and rankings. Bob discussed how Bob Werner, owner of Werner Mazda in New Hampshire, recently noted that many dealers are selling the way they want to and not how customers want to buy. Werner is bucking this trend, with Werner Mazda ranking 32nd in the country out of all Mazda dealerships despite operating in one of the smallest market areas, primarily due to its ability to meet customers where they are in the purchase process. This highlights the need for dealers to adapt to the changing landscape of the industry.

Overall, CarNow seeks to simplify the buying process and improve transparency between dealers and consumers, ultimately leading to more efficient and profitable operations for dealers and a more enjoyable experience for buyers.

Watch the full interview here.