April offers a month of renewed optimism for car dealers everywhere as spring comes into fruition and pockets become heavier with a little cash back from Uncle Sam. Tax refund season has arrived, and with it, infinite profit opportunities for both vehicle sales and your fixed operations. I fondly remember April 15th back in my car-selling days as the “real” beginning of the month.
With that in mind, the following have the potential to be the three most lucrative areas to focus your strategy on during this season of budding opportunity:
1. Increase Show Rates. Okay, this is obvious – but here’s how. We all know the probability of closing a deal skyrockets when a customer is physically in front of you in your showroom. The challenge is getting them there. This is where lead scoring comes into play. If you had the ability to instantly score leads based on their level of buying intent wouldn’t that make the time you spend chasing leads drastically more efficient? Wouldn’t you then know which leads to focus your attention on first and foremost? I recommend implementing technology that has the ability to score all your site, mobile, and third party leads simultaneously and in real-time, so that you know where to focus your efforts.
One way to increase your odds of getting buyers in the showroom is to offer an incentive just for coming in for a test drive, or for a vehicle inspection if their car is a potentially desirable trade-in. The higher the lead score, the more you should offer in exchange to facilitate heavier foot traffic, both on your showroom floor and in your service drive.
DealerRefresh just published an article advising dealers to have their sales staff “put the phone down!” Customers who call your store are not looking to be sold. In fact, they are already sold on which vehicle they want down to the year, make, model, and even and trim level. Therefore, all calls should be managed by your BDC, or your appointment setters as the one and only goal should be setting the appointment to get them in the door.
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Automotive Digital Marketing
Author: Digital Dealer
Digital Dealer exists to help dealers and their managers sell more vehicles more profitably by creating the best live events and media in the industry.