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HOW TO SUPPORT INVENTORY ACQUISITION EFFORTS
With new inventory shortages continuing for the foreseeable future, dealerships are on the hunt for popular, well-
maintained used vehicles. As auction prices have risen steadily alongside the consumer index, buy-backs and trade-
ins have become critical to maintaining a profitable and sustainable pre-owned inventory.
The service drive offers dealers a prime opportunity to acquire in-demand pre-owned vehicles. But to stand out
against steep trade and buy-back offers from competitors, it's important dealers take a proactive approach when
mining their service drive for pre-owned acquisition opportunities.
Utilizing the previously mentioned advanced technology, task your team to review your upcoming service
appointments to identify high-quality vehicle acquisition opportunities. Your team should assess each customer's
service and purchase history to understand their buying trajectory and identify patterns in their portfolio.
This is again where the service BDC or service-to-sales liaison can assist in a major way. Dedicating a member of
your crossover team to efficiently identify proactive trade opportunities and engage prospects before they enter the
service drive sets the stage for an excellent buyback experience.
HOW THE SERVICE DRIVE SUPPORTS CUSTOMER RETENTION
Typically representing a dealer's highest ROI sales and the
most likely to generate service and other fixed-ops revenues,
keeping your loyalty customers continually benefits your
dealership's bottom line. But as aggressive offers from competitors
and emerging online retailing options tempt customers to
shop around, dealers need to stay in consistent communication
with their loyalty audience to curb defection.
The service department offers dealers a natural solution to staying
in contact with buyers after the sale. By utilizing behavior prediction
technology, dealers are empowered to stay in consistent contact with
customers through conveniently timed service alerts. These tools
enable dealers to build each customer communication upon the last,
acting as a service concierge that keeps customers engaged long term.
Instead of competing on cost, craft messaging to your loyalty
customers that focuses on your service department's advanced
knowledge of their vehicle – and them – as compared to the more
generalized service shop down the road.
IHS Markit, November 2021
Semiconductor supply isn't forecasted to catch up with industry
demand until late 2022, with some persisting into 2023.
As new inventory challenges continue and the average age of vehicles on the road rises, dealerships' service
departments have grown increasingly important. With proactive, data-driven processes in place, your team will
be well-equipped to drive increased profitability right from the service drive, supporting your dealership's sales,
acquisition and loyalty efforts.
Interested in learning how automotiveMastermind can help your dealership effectively work the service drive to fuel
sales and grow your portfolio? Contact us for a free demo.
Customers who service
their vehicles at the
dealership are 2.5x
more likely to buy from
that same dealer.
automotiveMastermind, based on consumers
who returned to market over a 120-day window
