EV Demand Is Rapidly Growing – Are Dealerships Ready to Meet It?

With 63% of consumers now considering purchasing an electric vehicle (EV), compared to 57% just a few years ago, the EV market is booming. The push for sustainable transportation is on the rise, driven by government incentives, environmental awareness, and technological innovations. This presents an exciting opportunity for dealerships to position themselves at the forefront of this quickly evolving market. Many dealers are actively preparing to meet this challenge head-on while navigating hurdles as they adapt to the fast pace of change.

Recognizing the need for readiness, industry leaders with a track record of innovation are stepping up to help. David Boice, CEO and Co-Founder of Team Velocity, is uniquely positioned to help dealerships navigate this growing transformation in the EV sales space. A serial entrepreneur in the auto industry, Boice and his team have led Team Velocity to partnerships with more than 20 manufacturers and nearly 80 of the nation’s top 100 dealerships. Their unique approach equips dealerships to lead the charge by focusing on the following key strategies:

1. Create Consistent Feedback Loops with OEMs

One of the primary obstacles in the EV vertical is keeping up with the frequent updates and innovations in vehicle models. As basic as it may seem, dealerships need to form strong relationships with Original Equipment Manufacturers (OEMs), which makes a big difference. This collaboration is crucial for ensuring dealerships receive timely updates and insights about new models, software updates, and features.

David Boice highlights the importance of structured communication channels to create ongoing feedback loops between dealerships and OEMs. By implementing regular meetings, even via digital platforms, dealerships can stay informed and quickly relay any critical information to their sales teams. This consistent and proactive communication ensures teams are equipped to provide customers with up-to-date information, boosting confidence and satisfaction among consumers.

2. Streamline Your Platforms to Ease Friction

As EV sales continue to rise, dealerships focus on delivering seamless experiences for customers and staff. For traditional dealerships to compete in the EV space with companies such as Tesla, they need to offer the same level of personalized experiences, which can only be achieved through unified platforms. Tesla has created a customer-centric experience through a direct-to-consumer sales model in which they have eliminated middlemen and now use data-driven personalization in sales. This is where the Apollo® Customer Experience Platform (CXP) comes into play for other dealerships trying to meet EV demand.

Apollo’s connected tools enable dealerships to implement new EV initiatives by providing a smooth, integrated experience across all channels, whether customers engage with digital ads, emails, direct mail, or the dealership’s website. By streamlining operations and personalizing communications, dealerships can create a frictionless EV customer journey that streamlines messaging to ensure consumers are not confused by payments and offers. Consistent messaging and communication are critical to the transition for both dealerships and consumers.

3. Equip Sales Teams with OEM Knowledge

To capture the growing EV market, dealerships are prioritizing the education of their sales teams. Providing comprehensive training on key topics like battery life, charging time and infrastructure, and government incentives – factors that heavily influence buying decisions – ensures sales reps are fully equipped to sell the EVs on their lot. For online shoppers, the digital showroom should also be upgraded with more relevant Vehicle Display Pages (VDPs) for electric vehicles. These VDPs should be revamped to properly spotlight EV-specific features, creating a better online experience by making the relevant information easy to find rather than buried or missing altogether.

In addition to thorough product knowledge and resources, regular updates from OEMs ensure that sales teams stay well-informed about the latest advancements in EV technology, positioning the dealership as a trusted resource for buyers. By fostering an informed and confident sales team environment, dealerships can better serve their customers and strengthen their competitive edge in the electric vehicle market.

From Information to Action

For dealers, staying ahead in the EV market requires continuous evolution, beginning with building a strong knowledge base and providing sales teams with the tools they need to succeed. From understanding technical details to discussing financing and incentives, being prepared is key to creating a superior customer experience.

Team Velocity and the Apollo platform play a pivotal role in this transformation by offering advanced data tools and predictive analytics. These allow dealerships to anticipate customer preferences and tailor their campaign strategies to proactively reach EV buyers with personalized and relevant communications.

The question is not whether dealerships can keep pace with the EV market but whether they are able to effectively embrace its opportunities. With the right strategies and tools, dealerships can meet and exceed customer expectations while leading the way in the EV revolution.

Source: US Insider