The most exciting opportunity is helping to solve many of the problems in the automotive industry. Autotrader did a study that says 89% of people would rather go to the DMV than go to a dealership. That’s bad. Our team is determined to create a platform where consumers and dealerships meet one another in harmony. We’re different because we are building a platform application where car shoppers can do everything online. Find. Finance. Insure. All done before stepping foot on the lot to test drive a vehicle. We want to bring the average time buying a car at a dealership (3 hours) down to minutes. Data can help us do that. There are obvious roadblocks. The biggest being that it’s an industry that doesn’t change and adapt quickly. We have to change the way BDC and sales teams think and do. That’s not easy. We can get there by providing such an amazing platform experience for the consumer that the dealerships need to hop on. We’ve started breaking down this barrier with a few local dealers.
Car shoppers. For car shoppers, it will cut down hours wasted on researching cars that just aren’t a good fit. It will also cut down on time spent haggling with car salesmen. Simply put, it’s going to make car shopping less stressful and more fun like it should be. For dealerships, we’re going to protect their margins, help them sell more cars, and help them develop relationships with consumers that last and create repeat business.
What I Will Do With $5,000
We need the $5,000 for:
- More PR: $1,500
- More advertising to dealerships: $1,500
- More advertising to car shoppers: $2,000
Our team is fantastic at developing a top-shelf web app. We don’t have many development costs because of this, which is great. However, letting the world know about our website is costly. We have several dealers in West Michigan already paying for some Carmony marketing solutions, but it’s not nearly enough to cover our costs and spend more to acquire new users.