Cox Automotive's Rates & Incentives team has released a whitepaper entitled "Optimizing Rebates & Incentives for Consumer Digital Retailing Experience" that underlines the significance of consumer incentives using dealer service providers tools (DSPs) and how they affect both dealers and consumers.
Automotive DSPs have leveraged the use of digital retailing tools in providing incentives to car shoppers and creating a customer-driven experience instead of applying this as a dealer practice.
The Cox group’s whitepaper suggests that dealers should be able to harness transparency, accuracy and compliance in offering incentives, quotes and pricing so as not to shoo away repeat customers.
"If DSP application incentive tools aren't spot-on, the pricing information given to consumers is also inaccurate," Brad Korner, general manager for the Cox Automotive team, said. "If incentive and rebate data isn't accurate, the whole deal can be sunk. Dealers in this hyper-competitive auto retail landscape can't afford to have less-than-perfect pricing data. That can result in unhappy consumers and lost business."
Dealers will be able to build credibility and trust by delivering accurate information to car shoppers.
The full whitepaper presentation can be viewed here.