Ah, summer. The time of year for backyard barbecues, fireworks, and baseball. It brings the perfect mix of nostalgia and yearning for simpler times. Even more than that, it’s an interesting time for the used car market. The dog days of summer apply not only to kids lamenting the return to school, but also to car dealers struggling with summer lulls. Traditionally, this is a time when dealers begin to transition towards the end of the year with the expected September spike. With that right around the corner, what can you do today to help you perform better tomorrow?
Prices are slowly falling to normal levels. What this means for traffic to your lot is still to be seen. But for the time being, consumer confidence should increase. So, when you do have someone on your lot interested in trading in their vehicle, you need to approach the conversation with a level of confidence that empowers their decision to sell. That piece of inventory is still important for your lot. Build a process for appraising that has a foundation of trust and transparency. Get away from the old mindset of keeping the customer in the dark. Supply them proof points that establish value in their vehicle. Walk them through why you are giving them the offer that you are. Help the consumer understand reconditioning and go beyond a simple number.
Next, when you have the vehicle, it’s time to make sure you are properly merchandising it. How you write your ads, take your pictures, and market the vehicle makes a difference between a quality customer experience and a negative review. Always think in terms of what you can offer to an interested customer. The more information you can provide, the better. Again, this takes us back to the topic of transparency. Let the consumer know the true value of the vehicle by establishing the many pricing points of the included packages. Do more than just tell though. Be bold and show them these features. Illustrate what makes your dealership unique and inventory special.
One key function in accomplishing this is through leveraging advanced data. With a next-generation solution for inventory management, you get unparalleled insights into what makes your lot different from the others. You’ll get a strong hold on what cars you need, how to get them, and how to price them. Used car operations don’t have to slow during the summer. And a quality inventory management system is a great way to level up your dealership against the competition.
Finally, when you have everything in order, it’s time to sell. But as you know with used inventory, your staff may not be as well-versed in an out-of-brand vehicle. Turn your sales team into instant product experts by enabling them to step out of their comfort zone with a digital showroom. With this solution, your staff can quickly search for all the information on any piece of inventory right from the palm of their hand. Details about the vehicle can then be quickly shared with the consumer, thereby eliminating wasted time. Chances are that the shopper will already have intimate knowledge of the vehicle, so let your team shine by providing a new level of quality customer service that will help you sell vehicles and get the highest grosses possible.
The summer doesn’t need to be a drag. Especially as we head out of the dog days, now is the time to dig in and elevate your dealership with advanced technology solutions. Whether you are thriving or simply surviving, now is the time to evaluate where your dealership stands and define what you want your future to look like. With a lot of unknown forces lurking out there, be smart in how you acquire, merchandise, manage, and sell your inventory.
Level up your dealership this summer by partnering with the most dynamic data provider in the market. MAX Digital is capable of bringing you merchandising, sales enablement, and inventory management solutions that will help your dealership acquire more vehicles and sell them for the highest gross possible. Schedule your consultation and learn more about MAX Digital today.