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Enhance Your Pre-Owned Inventory Strategy
Of course, the success of your dealership's marketing efforts is massively dependent on the vehicles you have
in stock. By taking a data-driven approach to portfolio management, dealers can maximize their existing pre-
owned inventory by mapping prospective buyers to the vehicles they have on hand.
This approach is also valuable to dealerships acquiring in-demand pre-owned vehicles through trade. With the
right tools and insights, dealers can maximize the value of their pre-owned inventory by automatically making
data-driven decisions on incoming vehicles based on the wants and needs of their audience in real-time.
Ensure your sales and service teams are both in-the-know regarding in-demand makes and models.
When assessing trades, your team should analyze factors like estimated trade-in value, maintenance history
and how similar vehicles have sold in the last 30-90 days.
This requires setting internal standards for your dealership's buyback expectations. Not only will this create a
uniform process for stocking your lot, but it will also motivate your team to be part of the process. For instance:
• Incentivize sales teams to bring in highly sought-after trades or buyback opportunities.
• Ensure your buyback messaging is consistent across every channel, including any signage.
• Track your acquisition process, including setting clearly defined goals and objectives.
While maximizing the profitability of your dealership's customer portfolio may seem daunting, the path
toward better profit margins may be just a few clicks away.
Interested in learning how Mastermind can help your dealership maximize profitability
by adopting a data-driven strategy for pre-owned acquisitions and portfolio management?
Contact us for a free demo.
Dealer partners who utilize Market EyeQ report
an average cost-per-sale of $115 on average,
significantly lower than the industry average of $624.
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