Dealership Cheat Sheet: 5-Steps to Marketing with Low or No Inventory

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800.801.0018 | info@automotiveMastermind.com ©2021 automotiveMastermind ® . All rights reserved. | A business unit of IHS Markit™ LEARN MORE automotiveMastermind.com As long as your brand can support it, offering pre-orders allows dealerships with low or no inventory to continue engaging new vehicle customers despite shortages. When marketing pre-order options, introduce your customers to the idea of ordering and reserving vehicles as a new normal option for car shopping, empowering them to stay ahead of the rush when new vehicle deliveries arrive. When marketing dealership pre-orders: ̆ Engage buyers before they re-enter the market, mapping prospects to vehicles scheduled to arrive before the customer needs it. ̆ Build trust with customers buying sight unseen with personalized, informational and consistent messaging that builds on each previous touchpoint, including details related to common concerns and order status updates. ̆ Sales and BDC teams need to be prepared to speak confidently and set reasonable expectations related to customer pre-orders by staying up to date on the vehicles in your inventory and any inbound deliveries. 3. Promote Pre-Orders The service drive offers numerous opportunities for dealers to engage customers, build rapport and promote customer loyalty long after the initial sale, keeping your dealership and services top-of-mind when it comes time for customers to buy. When communicating with service customers: ̆ Use advanced marketing tools to engage customers with helpful service notifications at critical moments in their customer journey. ̆ Tailor service messaging to connect with customers through seasonal offers and other promotional campaigns that speak to their evolving needs. ̆ Look for goodwill offers like additional service and warranty plans designed to help customers hold on to their vehicles longer. 4. Tap into the Service Drive To proactively promote customer loyalty and defend against your competitor's conquest efforts, identify and engage prospective buyers preparing to return to market in the coming months, such as customers approaching the end of their payment terms or the end of their warranty. When engaging loyalty customers: ̆ Personalize your approach when reaching out based on each customer's unique wants and needs, avoiding "bait-and-switch" deals and including actionable offers. ̆ Stay in consistent contact with your customer base, regularly addressing moments and milestones unique to each owner's situation in your messaging. ̆ Incentivize customer loyalty with programs like special service offers, referral bonuses or other exclusive benefits to retain their business. 5. Proactively Defend Your Customer Base Interested in learning how automotiveMastermind can help your dealership adapt and overcome inventory challenges? Contact us to learn more Mastermind data finds customers who serviced with a dealer are 2.5x more likely to purchase their next vehicle from the same retailer.

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