EFG Companies has conducted a decade-long analysis of online vehicle inquiries to dealers nationwide, uncovering significant gaps in communication, missed sales opportunities, and surprising customer perceptions. The research, based on 233 professionally conducted inquiries and over 1,000 communications, reveals:
“Whether we like it or not, the car buying journey now starts online, where first impressions are critical and competition is fierce.”
Key findings include:
- 22% of consumers received no response or information from dealers.
- Over 50% of dealers failed to fully address all of the customer’s questions.
- More than 60% of salespeople were reluctant to discuss vehicle pricing online.
- 75% of buyers did not receive a specific, value-based reason to choose that dealership.
These issues are often due to common and easily fixable problems such as:
- Unconfigured technology in the Business Development Center (BDC).
- Multiple responses to inquiries from different dealership team members.
- Unprofessional communication with grammatical errors.
- Requesting sensitive consumer data without secure methods.
The white paper offers actionable insights for dealer principals to invest in customer-focused training to enhance revenue opportunities.
“Whether we like it or not, the car buying journey now starts online, where first impressions are critical and competition is fierce,” said Eric Fifield, Chief Revenue Officer for EFG Companies. “Failure to adequately respond to online inquiries, set expectations, or engage with customers effectively results in lost sales. Our data indicates that dealers who prioritize training, compliance, and transparency are successfully converting eLeads and achieving significant revenue gains.”
The research involved trained professionals posing as potential buyers, engaging with dealer sales teams through chat, text, or email. Dealer websites, email auto-responses, and online chatbots were evaluated, and sales team communications were rated. Researchers assessed the entire online sales process, including vehicle inquiries, features, condition, add-ons, and price negotiations.
EFG Companies advises all dealerships to review and enhance their online customer engagement practices to match the effectiveness of in-store interactions, addressing the mindset of online shoppers. “Regularly monitor customer relationship management tools to ensure alignment between your sales process and online platforms,” recommends Glenice Wilder, Vice President of Training and Inside Sales. “Train staff to use digital tools to replicate face-to-face interactions effectively, including video walk-arounds and F&I product discussions. Ensure all communication channels—text, chat, or email—are used to serve the customer well, generate referrals, and boost revenue.”
About EFG Companies
For nearly 50 years, EFG Companies has provided consumer protection programs for vehicles and residences across seven market channels. The company’s strategic goal is to build sustainable market differentiation and profitability for clients and partners, including dealers, lenders, manufacturers, independent marketers, and agents. EFG’s award-winning model is based on acting as an extension of clients’ management teams, offering ongoing F&I development, training, product development, compliance, and nationally recognized product administration with an ASE-certified claims team. Learn more about EFG at: www.efgcompanies.com.
