3 Reasons to Not Stop Marketing During Inventory Shortages

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3. Maintaining customer loyalty is critical. With limited vehicle availability and fierce competition growing among dealers, nurturing and protecting dealership customer loyalty is more important than ever. With unique access to their loyalty audience's customer data, some dealers are leveraging their dealership marketing technology to identify which of their loyalty customers present the greatest sales opportunities and which are most at risk to be conquested by a competitor. These same tools can be used to engage buyers before they've had the chance to defect with messaging designed to retain their business, such as extended lease offers. Taking a similar approach using Market EyeQ, our dealer partners report increased loyalty up to 15%. Interested in learning how Mastermind can help your dealership maximize its marketing efforts amid inventory shortages? Contact us for a free demo. 800.801.0018 | info@automotiveMastermind.com ©2021 automotiveMastermind ® . All rights reserved. | A business unit of IHS Markit™ 2. Used vehicle prices are through the roof. For new car dealers unable to stock new inventory, pre-owned sales represent an incredibly valuable opportunity to promote dealership profitability. This is especially true with low new vehicle inventories pushing more new vehicle buyers to consider pre-owned replacement options. Leverage insights from your DMS, CRM and sales platform to map and market pre-owned options to new car customers who are most likely to be interested in them. For example, non-luxury customers are more likely to make needs-based purchases and may be more willing to consider other models or even other brands. Dealer loyalty has dropped 1.6% since 2012. Manufacturer and brand loyalties have each slipped just .2%. IHS Markit, March 2021 The average retail selling price of pre-owned vehicles by new car dealerships has increased by 11% compared to 2020. NADA, March Dealership Financial Profile LEARN MORE automotiveMastermind.com

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