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Finding the "Perfect Shopper" (within 30 Days)

ryan.gerardi

Jr. Refresher
Mar 17, 2011
209
94
28
First Name
Ryan
In this article on Ward's Auto about vehicle inventory being an asset or a liability, the author Valerie Vallancourt, VP of Marketing with Outsell, points out that "one of the dealership’s most visible assets – and often the biggest source of wasted budget and opportunity – is vehicle inventory." She states that "Choices made here can quickly make or break profitability," which is no doubt true.

Later in the article, Valerie suggests that, "The good news is that finding the perfect shopper for a specific vehicle has never been easier," and that, "Technology is available that intelligently matches customers to cars, allowing dealers to make sure they have the correct inventory for their marketplace."

The latter statement is certainly true, but the former statement is a matter of debate. Although I imagine most would agree to this as well.

Anyhow, in the end, Valerie points to a study which suggests that dealers can sell three times as many vehicles by using smarter marketing tools in the critical 30-day window of a vehicle’s availability.

In fact, @Jasen Rice talks about this in his FB Live video from yesterday.

So my question is two-fold: 1) do we have the data and the tools now to move the majority of our inventory within 30 days; and 2) how much of this comes down to technology versus people and process?
 
Reactions: LotPop

LotPop

Getting Refreshed
Sep 25, 2013
37
11
8
First Name
Jasen
"So my question is two-fold: 1) do we have the data and the tools now to move the majority of our inventory within 30 days; and 2) how much of this comes down to technology versus people and process?"

100% people and process. We work with several inventory management tools and it doesn't matter the tool if the people are not bought into the process. We get canceled when people fight the process. The stores that have the top down mentality, and all the people are committed to the process are always successful. Even if they mess up and things are going sideways at their store, they learn from it, make adjustments and succeed by learning from that mistake.