“Time is money” is one of the oldest sayings in the book, though it still proves to be true, now more than ever. Specifically, when it comes to increasing sales and improving turnover time, time is of the utmost importance. There are three things you can do to ensure that the cars on your lot spend more time being driven by their new owners, and less time at your dealership waiting to be purchased.
The first is ensuring your team is knowledgeable on your current inventory. COVID-19 has coerced many future-buyers to call first or check online listings before physically going into a dealership. As your inventory changes frequently, your team must stay informed on what is in stock each day and inventory specifications. Make sure that inquiring buyers are met with excitement and all the information they need when communicating with your team. Great, informative phone conversations or electronic communications via text or e-mail increase the likelihood of an in-person visit.
Ramping up your marketing efforts is another way to decrease turn time, but it is important to implement a marketing strategy that prioritizes quality over quantity. Resist the temptation to target anyone and everyone and focus your marketing efforts on targeted email and advertising campaigns.
In addition to your strategy, you want to make sure that your online advertisements are flawless. Understand how and when to use social media such as Instagram or YouTube to advertise as well. Prospective buyers want to know as much as possible about the car before they speak to anyone. A major part of this is high quality photos that show as many angles as possible.
This process is tedious, but worth the increased interest that it generates.
The third way you can decrease your turn time is by maintaining high level customer service. Customer service is now more powerful than ever when it comes to the consumer experience.
It determines whether a prospective customer will want to return for a test drive, make a purchase, or even refer your business to someone they know personally. Reflect on your current customer service initiatives. Is there room for improvement? Are there ways that you can go beyond to ensure your customers are satisfied?
While there are many different aspects of a successful sales process, these details are a great way to ensure that you are doing as much as possible to decrease turn time. Your customers come first and determining new ways to appeal to their interests will continue to yield great results.
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