vehicles, so give them the motivation to do so. You don’t have to create a hostile, high-pressure environment; rather, you can act as a consultant and provide them with options while they are on your lot. Be transparent in your approach and use a walkaround method for appraising their vehicle. Establish trust and be honest in pricing from the beginning. WHAT ABOUT SHOPPERS NOT ON YOUR LOT? This is where digital marketing, social media, and widgets come into play. Acquiring consumer inventory requires you to break down friction points and offer bridges that connect your team with potential sellers. Particularly for widgets on your website, consider moving past antiquated solutions and integrate a modern tool that can increase your form completion rate, provide better accuracy on pricing, and deliver an improved overall experience. This is a surefire way to drive more street leads and pack your lot with not just any inventory … but the right inventory. When it comes to acquiring consumer inventory, it’s about getting creative. Many dealers will put a sign in front of their store, while others try cold calling. Some will pay for advertising via TV commercials or billboards, but when it comes to grabbing the attention of drivers, the sky is the limit. Bring your team together and run a contest to see who has the best idea. Get a game plan in place based on your team’s feedback and execute them based on fresh ideas. Successful consumer acquisition comes from innovation, and now is the time to push the envelope. At the end of the day, you need to think outside the box. As it was once said, “The definition of insanity is doing the same thing over and over and expecting a different result.” Stop doing things the old way and thinking they will net you more inventory. Approach consumer acquisitions as if your job and dealership depend on it — because in 2023, it does. Strive to provide a transparent experience to your customers when looking to acquire their car. Platforms like ACV can help in providing a fair and honest price to your customer by leveraging advanced, accurate data. When it comes to buying vehicles wholesale, work with a partner that offers a full vehicle inspection so you know exactly what you’re buying before you make the investment, thus maximizing your overall profit. Stu Zalud is Director of Strategic Partnerships at ACV Auctions. He can be reached at (843) 247-3565 or via email at szalud@acvauctions.com. YOUR GOAL SHOULD BE TO SHORTEN THE GAP AND PROVIDE OPPORTUNITIES FOR CONSUMERS TO TRADE IN THEIR CARS NO MATTER WHAT THEIR SITUATION IS. 15 new jersey auto retailer
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