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Internet Sales Tips (Feb. 2004)
"Getting the Edge in the Ultra-Competitive Used Vehicle Market"
Suddenly, your sales team is closing deals you previously turned down
--by Mark Miller
Today's net-savvy dealer doesn't need to be told that Internet used-vehicle classifieds deliver incremental sales, expanded reach, decreased marketing costs and faster turns. That's old news. What's really new is that these Internet channels are also a powerhouse of valuable data that will ultimately reshape how used vehicle managers handle, and plan, purchase and re-market inventory.
Information about what consumers want and don't want, as well as what they look at but don't buy, is no longer the exclusive-and costly-domain of market research consultants. Thanks to the Internet, the digital dealer can now begin to access consumer demand data that not only provides a clear snapshot of current local market conditions, but points to trends that translate into new revenue streams and stronger bottom lines.
The good news is that dealers don't have to gaze too deeply into the crystal ball to see just when all this newly available information will help them change the way they do business. Some of these important management tools are already available. The trick is to make sure that your current Internet marketing partners aren't merely keeping tabs on basic metrics like site visitors, page views and click-throughs. After all, why would you only want to know what's happening with your online inventory?
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