Reviewing the 8 Most Important Tools at an Automotive DealershipMarch 27th, 2017 by MAXDigital
The most important automotive tools are not a socket wrench or tire jack. They are the ones used to acquire, appraise, merchandise and sell cars. Below is just a sampling of the many automotive tools you’ll find at MAXDigital.
Does Your Dealership Make the Most of These Automotive Tools?
- Vehicle pricing tool. A vehicle that is priced based on assumptions and estimations is one that is likely priced incorrectly. A vehicle pricing tool uses actual data to help dealerships price inventory based on market research and sales data. Not only can this tool help you remain competitive, it can provide greater transparency for consumers.
- Appraisal tool. A trade-in is more than just a blue book value. It’s an opportunity to maximize gross profits. This tool leverages the power of comprehensive and accurate vehicle market data so dealerships know what to buy, how many of them to buy, and what price to pay for them.
- Vehicle display page. A vehicle display page (or VDP) is perhaps the most important tool in today’s information-centric marketplace. Online visibility is enhanced when all the requisite information such as fuel economy, options and upgrades is visible on a single page.
- Inventory management. An inventory management tool helps increase gross profits by reducing inventory turnover time and generates data about which cars are right for any given market location.
- Digital retailing. Easily create web pages, digital showrooms, and relevant ads by integrating this platform with your inventory management tool.
- Pricing proof points. Accurate data is used to generate reports that justify and explain why a car is priced a certain way. Not only does it protect your bottom line, but it cultivates trust and builds transparency for the consumer.
- Online reputation management. Defend your name and business against online attacks. Some 87 percent of car shoppers consulted online reviews when choosing a dealership to visit according to one recent survey. With consumers placing such a high level of trust in social media and online reviews, this tool is critical to reducing or eliminating negative reviews and restoring your reputation.
- Analytics. Tracking the actions and behaviors performed on your website allow you to customize marketing efforts accordingly.