Common Digital Retailing Questions
Digital Retail noun
Digital Retail enables customers to buy a trailer from wherever they are , doing as much of the deal as they want online . It includes dealership tools to help customers move their purchase forward from wherever they are : business texting , electronic payments , e-signatures , and more .
Immediate stakes : A buying experience customers have been asking for ; more sales leads , and referrals Long-term stakes : Dealership survival
When will this come to Trailer ?
In most industries , transactions can be done online . And in the related auto space , manufacturers are incentivizing dealers to offer digital retail and may soon mandate it . People are ready ; 70 % of US customers were willing to select a dealership further away because it allowed for more online purchase options , in a recent S & P Global poll . It ’ s happening in Trailer too . Trailer manufacturers have already begun telling their dealers that the retailers who don ’ t embrace digital will fall behind .
That ’ s why it turned heads when Transax ( www . transax . com ) debuted at the NATDA 2023 show in Nashville as the first digital retail platform for trailer dealers . Their advice ? Johnathan Aguero , VP of Sales and Strategic Partnerships at Transax , put it this way : “ If you want to lock down buyers , extend your in-person experience online . Make it easy for customers to push the deal forward , no matter where they are .”
Common Digital Retailing Questions
Q : What is the difference between Digital Retailing and e-commerce ? A : E-commerce is simplistic self-serve — add to cart and checkout -- whereas digital retailing engages the buyer and leads them to a sale . A digital retailing platform also enables the dealership to communicate and work the deal in the customer ’ s preferred communication channel -- including text messaging -- for questions , paperwork , and payment .
Q : Do I need a new website to use Digital Retailing ? A : No , according to the first Digital Retail platform for Trailer — Transax — their platform works with any website provider .
Q : Isn ’ t taking payment online unsafe ? A : While fraud has unfortunately become all too common with traditional online payments , no need to give up on them altogether . The first digital retail platform for Trailer , Transax , states that their platform offers Fraud Protection , which requires the customer to first verify their identity before paying .
Q : What all does digital retailing include ? A : There are three pillars of digital retail for a trailer dealership : A . Online Dealmaking - customers can reserve or buy a trailer outright on your website B . Customer Engagement - texting , e-signatures , electronic quotes , e-payments C . Easy financing - see credit scores + receive one finance app and submit to the right lender
Q : How much training is required to implement digital retailing ? A : It ’ s very easy to set up . By nature , digital retailing has to be easy to use . Transax estimates that an average user can start texting with less than one minute of training , and that with 20 minutes more will be using the full platform . Website setup is performed by your website provider and is typically as easy as sending an email to request installation .
Q : Can Digital Retail help me get more financed deals ? A : Yes . A platform like Transax will embed on your website make it easy for the customer to see their score ahead of time and will make it easy to shop by payment no matter which website provider you use . In addition , the customer can submit just one application to the dealer , and then the dealer can semi-automatically submit to the right lender ( s ) quickly .
Q : I hear digital retail is standard in Auto , but how do I know it will work for me in the trailer industry ? A : Talk to your staff and ask them , “ How do people want to communicate ? How many people request a means of electronic payment ?” While this is new to Trailer , it ’ s not new to the consumer . How easy is it for them to buy almost anything else , ranging from automobiles to retail goods ? Don ’ t be left behind .
Contact Info :
Johnathan Aguero VP of Sales and Strategic Partnerships johnathan @ transax . com main line : ( 616 ) 303-8350
www . natda . org NATDA Magazine 35