Izmocars and AskPatty.com recently revealed they are partnering in an effort to provide dealers with the training and tools they need to effectively market and sell auto accessories to women.
Interestingly, according to the companies, this is especially important because women purchase nearly as many accessories and aftermarket products as men.
Jody DeVere, chief executive officer of Ask Patty — which also provides dealer training services — elaborated on this statistic, noting, "For starters, women are much more interested in 'blinging' their ride than most dealers realize. What's more, women appreciate ease, convenience and a low-pressure environment, especially when it comes to car buying.
“Dealers can have a significant competitive advantage in accessories sales by allowing women to visually and easily configure their cars with accessories, and then conveniently roll the cost of those accessories into their monthly payment — all within that 'sweet spot' moment of purchase,” she continued.
The partnership, which is designed to provide women with a better in-store purchasing experience and to help dealers capture a larger share of the accessories market, brings together two components of AskPatty.com and izmocars.
This new initiative brings together the AskPatty.com Certified Female Friendly Program, designed to train and certify dealers on how to “attract, sell, retain and increase loyalty with female customers”, and izmocars AddOnAuto, an in-store digital sales tool that allows customers to virtually add or remove car accessories and instantly view them on their vehicle of choice, are now joining forces.
AskPatty.com will now be promoting AOA as a certified solution.
Sidney Haider, izmocars AOA's vice president, elaborated further on what this partnership means for the company in an interview with Auto Remarketing on Monday: "The partnership we have with AskPatty is that we are going to be promoted as a certified solution by them to not only female-owned and managed dealerships, but female buyers altogether for dealerships. It is something that askpatty.com thinks enhances the female experience at dealerhips, reduces the pressure for them and allows them to personalize the vehicle after the decision is made to buy a car."
Haider went on to note the current “urgency for dealers” to delve more into the accessories market.
Haider stressed that automotive chains, specialty shops and mail order suppliers are presently capturing the “lion's share of the behemoth accessories market,” taking advantage of sales opportunities “best suited for dealers who continue to struggle in a tough economy.”
To illustrate how profitable the accessories market can be for dealers, Haider sighted data from one of the company’s clients. Dealership Dry Ridge Toyota of Kentucky used AOA to increase accessories sales by 270 percent in two years.
Officials also pointed to a study showing that 180 dealerships who adopted the AOA sales tool showed increased accessories sales by $475 per-vehicle-sold, with average gross margins of 47 percent and average net profit margins of 32.8 percent, compared to 45 percent and 28 percent, respectively, for all of 2010.
Commenting on the data and increasing importance of the accessories market, Haider said, “It doesn't make sense that dealerships sell less than 5 percent of all accessories sold. Car buyers are captive accessories buyers to whom dealers can provide real-time visuals of thousands of different add-ons, as well as instant sales and customer service fulfillment — without having to carry cumbersome inventory.
“Since women buy nearly as many aftermarket products as men, dealers can miss out on significant revenue opportunities by failing to meet the needs of female customers,” he continued.
DeVere also offered her opinion on teaming up with izmocars: "We see AOA as a perfect complement, a natural fit, to the fundamentals of our training program."