Rapid Recon study highlights ‘seal of approval’ appeal
Here’s a potential way to prompt a hesitant buyer to take delivery of that used vehicle.
A reconditioning ‘Seal of Approval’ is likely to help auto dealers close more sales, according to a survey of 1,000 potential auto shoppers by Rapid Recon.
When consumers were asked if a reconditioning “seal of approval” would positively affect their used-vehicle purchase decision, respondents’ average score was 4.4 of 5, with 5 being extremely likely.
Rapid Recon highlighted that consumers also indicated that transparency is a critical element of the sales process. When asked about the importance of transparency, respondents rated it at 92%, with 100% being “extremely important.”
“The data speaks for itself. Customers value trust and transparency, especially when making a big purchase. Dealers who offer reconditioning reports give their customers peace-of-mind and build loyal relationships for future sales,” Rapid Recon CEO Dennis McGinn said in a news release. “Dealers need to encourage transparency during the sale process. A simple report detailing a used car’s recon report can be the extra detail that earns you a lifetime customer.”
Other consumer rankings included:
—A composite average score of 4.5 of 5 when asked if they were more likely to purchase a vehicle if shown a reconditioning report.
—A composite average score of 4.5 of 5 said a reconditioning report provided by the dealership would increase trust in the dealer.
—A composite average score of 4.4 of 5 said a reconditioning “seal of approval” presented to them would positively affect their vehicle purchase decision.
—A composite average score of 4.3 of 5 said being shown a reconditioning report would affect their preference for a dealership.
McGinn explained that automotive retailers who embrace this concept can provide customers with peace of mind, show genuine long-term concern for customers and increase the perceived value of the vehicles they sell.
“The automotive retail industry can do much more to prepare and equip sales associates to succeed,” McGinn said. “The ability to communicate what reconditioning improvements have been done to the used car being considered builds value and trust in that vehicle, whether the recon report is shown face-to-face or pushed via text for reviewing at home or elsewhere. We know what consumers need to be more confident in their car-buying experience.”
These findings are published in a report titled, Auto Buyer Transparency Expectations: How to Leverage Technologies to Build Trust. The survey analyzed 1,000 shoppers who plan to purchase a vehicle within the next three years from a franchised or independent dealership.
The survey was conducted online from Sept. 20-24.