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Simplify Your Used Car Sales Process
Pre-owned customers tend to be more price sensitive,
credit challenged and less brand loyal, complicating the
sales cycle. Utilize behavior prediction tools to quickly
and efficiently make sense of complex buyer
journeys and match pre-owned prospects with relevant
marketing offers to maximize their engagement.
Equip your sales staff with those same tools and customer
insights to allow your team to create a sales experience that
is centered around each customer's individual needs and
builds off that very first touch point. By managing your pre-
owned and new customers from the same platform, you're able
to more efficiently match them to the vehicle they're most likely to
purchase – new or used.
Focus on Net Profit
The $2,332 average per-sale profit figure from NADA is a gross number. NADA's average for
net dealer profit on used cars last year was a miniscule $14.
Reducing overhead costs is critical to used car sales profitability, which means ensuring pre-
owned vehicles don't spend too much time on the lot.
Knowing pre-owned customers are more likely to buy a pre-owned vehicle again in the future,
utilize customer purchase data and behavior prediction tools to take greater control of your
pre-owned inventory. By matching prospects to the vehicles you have on hand, you're able to
reduce lead time for turnaround and maximize your profit per deal.
With supply constraints limiting your options on vehicle acquisition and online shopping making
it easier than ever for consumers to comparison shop, often times the best place to look for net
profitability is in the cost of acquiring consumers.
One powerful way to reduce customer acquisition costs are through improving loyalty retention.
It's a widely accepted rule of thumb that acquiring a new customer costs 5x that of retaining an
existing one.
Are you ready to apply the power of Mastermind to your pre-owned sales outreach?
Contact us
to schedule a demo today.
32
78%
SAID IT WAS IMPORTANT
FOR THE PURCHASE OF A
VEHICLE TO BE AS
EASY AND CONVENIENT
FOR THEM AS POSSIBLE
Facebook, Global Auto
Consumer Journey Study, 2018
OF AUTO
CONSUMERS
OF AMERICAN CAR BUYERS WOULD CHANGE DEALERS AFTER
EXPERIENCING POOR CUSTOMER SERVICE AS EARLY AS THE
INTEREST PHASE OF A CAR PURCHASE
50%
MORE THAN
Capgemini, "Cars Online 2017 – Beyond the Car"
