7 POWERFUL VEHICLE ACQUISITIONS TACTICS THAT WILL BOOST YOUR PROFITS Compared to this time last year, inventory levels continue to improve. But we’re still not back to the number of available new and used vehicles pre-pandemic. Thankfully, there are always new tactics you can implement to help to improve your dealership’s ability to acquire the right vehicles, at the right price. Here are seven that will keep your lot stocked with fresh vehicles in the months to come. TACTIC #1: Use the Power of “Why Sell” During the height of the inventory shortage, as retail prices on used inventory soared, many consumers took advantage of favorable market conditions to consolidate the number of vehicles in their family fleet while improving their financial position at the same time. This shift in selling intent was clearly observable when looking at search trends for keywords like “sell my car” and “sell my car for cash today.” When we fast forward to today, this trend isn’t slowing down. Search volume for related keywords is still elevated well above pre-inventory shortage levels. That’s why it’s important not to focus your marketing and messaging on just “trades.” When you leave out the option for consumers to sell their car to you without buying one, you’ll be missing a key opportunity to acquire additional inventory. Be sure to keep your dealership top of mind for consumers off-loading their current ride by combining a connected marketing campaign with your unbeatable local selling experience. TACTIC #2: Maximize Trade/Sell Engagement on Your Website If you want your website visitors to know your dealership will buy their car, you have to tell them. So, back up and amplify your “why sell” message on your website and other marketing channels. Overall, you want to highlight the benefits of trading or selling a car to your dealership. Be sure to include details like providing a guaranteed offer, avoiding the hassle of private sales and saving time and money. On your website, your trade/sell messaging should be front and center, making that experience only a click or tap away. Additionally, make sure to maximize your impressions by linking your trade/sell landing page to your main menu, and don’t forget to place a prominent CTA above the fold on your homepage. TACTIC #3: Provide Consistent Values Across Your Platform With the proliferation of trade-in, digital retailing and chat widgets being mixed and matched on dealer websites, a growing problem has emerged where consumers receive different values for their vehicle on your website depending on the experience they’re using. For example, you may have a trade-in widget embedded on a landing page that provides an estimated value range for a vehicle. But the trade-in phase of your digital retailing tool uses a different source of data, resulting in an alternate value provided for the same vehicle. By Brian Kramer, Cars.com 42
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