Familiarity is often a dealer’s friend. You arrive at work at the same time, greet customers the same way, negotiate deals the same way, and leave work at the same time. This routine may even play into the cars you’re stocking on your lot. For example, a dealer who’s consistently able to sell Buicks will continue to stock the lot with that inventory, and for good … [Read more...] about Lot Stocking: Sometimes Familiarity Isn’t Your Friend
Over the past few years, trade-in leads have become increasingly valuable conversion opportunities, but most dealership websites are not optimizing them. Before we go any further, let’s start with a little history lesson. About 15 years ago, consumers used static forms to request additional information. Obviously, this doesn’t work as well now as it did back in the day … [Read more...] about Why Aren’t More Dealers Capitalizing on Trade-In Leads?
You know that tracking inventory at your dealership is essential, which is why there are many quality third-party companies to help you with your inventory management process. This is the data that helps you monitor what’s happening on your lot so you can stock the models your customers want, move the ones that are aging, keep your pricing up to date, and stay ahead of your … [Read more...] about 4 Ways Tracking VDP Inventory Boosts Conversions and Sales
Every dealer has been there. You bought a car at an auction you were sure would be easy to sell, and eagerly stuck it on your lot, awaiting customer interest. And then it sat there. And sat there. And with each passing day, you were certain that soon enough an interested customer would come along, so you held out hope. But the research doesn’t back that up. A recent … [Read more...] about Data and Online Dealer Networks: The Future of Used Car Inventory?
Many dealers think of customers as just that: customers. Top-performing dealers take it a step further and think of their customers as something more: strategic partners. A dealership requires a wide network of partners to effectively conduct business. Parts suppliers, media outlets, payroll service providers, and many others are strategic necessities. Why not think of … [Read more...] about How to Make Customers Your Strategic Inventory Acquisition Partners