Peter Winston | ViewPoint Kiosks | CEO |

Chart, why people buy online

Peter Winston | ViewPoint Kiosks | CEO | Chart why people like to buy in stores.

Peter Winston | ViewPoint Kiosks | CEO |

About the Brand Single brand store About apple in particualar

Peter Winston | ViewPoint Kiosks | CEO |

Apple store clone -> Microsoft store

Peter Winston | ViewPoint Kiosks | CEO |

Is a car dealership really so different from an Apple Store? Of course, one is company-owned and the other is a franchise But they have some things in common –single brand –major purchases (less true for dealership, but purchase decisions for computers and phones are considered important) –hands-on experience is important –people seek advice on technically sophisticated products

Peter Winston | ViewPoint Kiosks | CEO |

Some people hate buying cars so much they pay others to do it for them

Peter Winston | ViewPoint Kiosks | CEO | But, If I’m making money, what’s the problem?

Peter Winston | ViewPoint Kiosks | CEO | Quotes about how auto sales needs to change

Peter Winston | ViewPoint Kiosks | CEO |

The best parts of car buying happen online...

Peter Winston | ViewPoint Kiosks | CEO | the problem is the bad cycle People don’t like coming into showrooms -> Online research -> Find ways to get them into the showroom -> Lower margin -> Make up the profit some other way ->

Peter Winston | ViewPoint Kiosks | CEO | MODERN BUYERS

Peter Winston | ViewPoint Kiosks | CEO | Life time value of the customer People say they would pay more for a better experience Buy cars more often.

Peter Winston | ViewPoint Kiosks | CEO |

Buyers are clear about what they want… Better buying experience Faster process Fair price Lower pressure –Answers to their questions –To buy their car their way

Peter Winston | ViewPoint Kiosks | CEO | embrace technology Lower pressure –More self service, more welcoming More efficient More transparent

Peter Winston | ViewPoint Kiosks | CEO | Lifetime value of the customer Most firms see themselves in business to make money. That’s “the bottom line”—the primary goal of management. By contrast, Apple’s goal is to delight its customers. Apple has grasped that making money is the result of the firm’s actions, not the goal.

Peter Winston | ViewPoint Kiosks | CEO | Genus bar “Well, how do we create a store that has the friendliness of a Four Seasons Hotel?'” The answer: “Let’s put a bar in our stores. But instead of dispensing alcohol, we dispense advice.” ex-Target merchandizing chief and SVP of retail at Apple Ron] Johnson

Peter Winston | ViewPoint Kiosks | CEO | Apple care vs F+I

Peter Winston | ViewPoint Kiosks | CEO | Does that mean I should use ipads?

Peter Winston | ViewPoint Kiosks | CEO |

Steps I can take today

Peter Winston | ViewPoint Kiosks | CEO | The end

Peter Winston | ViewPoint Kiosks | CEO |

This changes everything Today’s customer does not want traditional dealer sales processes By the time they visit the dealer, they know what they want & most know what they will pay for it Customers expert dealership to answer the hard questions Salespeople need to fit themselves into the customer’s buying process One more little fact: Every customer has a different buying process Changing buying habits

Peter Winston | ViewPoint Kiosks | CEO | What do we know about what car buyers want? Faster process Fair price Answers to their questions To buy their car their way Statisticds: Autotrader study

Peter Winston | ViewPoint Kiosks | CEO | People want a faster process Move steps upstream –72% prefer to complete credit application and financial paperwork online to save time** –Gathering customer and vehicle information Automate & streamline processes * –Use technology to provide efficient access to product information, available options & credible price information –Replace traditional price and appraisal negotiation (which takes up 40% of sales & appraisal process) with shorter, more transparent processes –Many efficiencies throughout dealerships arise from lack of integration between software systems & reliance on paper forms

Peter Winston | ViewPoint Kiosks | CEO | People want a fair price A fair price is not the same thing as a flat price. Flat pricing doesn’t even work, because people don’t trust the salespeople Across the board, dealers need to work to regain trust Present transparent price information within a system that looks credible and trustworthy, and also incorporates product information from vendor, dealer & trusted third parties. Presenting prices on screens can improve the Sales Satisfaction Index by up to 63 points according to a JD Power study.

Peter Winston | ViewPoint Kiosks | CEO | People want answers to their questions 43% see dealership as a place to learn Train all staff to have an adequate knowledge of products Employ product specialists/experts who can help people with more technical tasks Provide easy access to comprehensive product information through touchscreen systems for people to explore themselves and to assist associates as they discuss products with customers

Peter Winston | ViewPoint Kiosks | CEO | People want a process built around their priorities Create a pleasant space where people can connect with your products & let them explore on their own 54% would buy from a dealership with their preferred experience over the lowest price Focus less on the transaction, and more on understanding the customer needs* and tying that to appropriate products Skipping some things: specials, offers, warranty & service. If the buying process were improved... –72% would visit dealerships more often –53% would buy a vehicle more often

Peter Winston | ViewPoint Kiosks | CEO | The “traditional” car dealership model is not working, but what customers want is quite simple. Although needs are simple, addressing them requires changes in people, processes and technology Key areas for improvement: –Speed up the transaction –Invest in hiring & training staff –Use technology throughout the dealership to help customers connect with products and assist in the sales process –Regain customer trust –Improve customer experience

Peter Winston | ViewPoint Kiosks | CEO |

NEIMAN MARCUS Touch Table

Peter Winston | ViewPoint Kiosks | CEO | NEIMAN MARCUS Memory Mirror

Peter Winston | ViewPoint Kiosks | CEO |