Every dealership is dealing with inventory acquisition challenges. It’s an industry-wide issue that has had a profound impact on profitability. And while some dealers are choosing to “wait out” the inventory shortage, others are succeeding now. Implement these five sales strategies to overcome inventory obstacles and supply chain challenges at your dealership.
- Strategy 1: Review Past Customers—Use your CRM to find acquisition opportunities based on past shopping behavior, frequency of repair visits, declined services, and more.
- Strategy 2: Visit the Service Department—Send sales staff to the service department in search of sought-after cars and repair-weary customers.
- Strategy 3: Mine Equity—Find customers with a favorable equity position in their current cars who may be more likely to become buyers with trade-in vehicles.
- Strategy 4: Adjust Digital Retailing Responses—Communicate to digital retailing customers that you’re willing to pay top dollar for trade-ins, regardless of condition.
- Strategy 5: Dealership-Wide Plan—Ensure marketing, sales, and service are all in sync, connecting workflows across departments, to accomplish inventory acquisition goals.
The current inventory shortage is a major challenge, and it’s not going away anytime soon. With these five proven sales strategies, you can outlast current supply chain challenges to keep profits high, even as inventory is low.
To learn more about these strategies and other tips for acquiring inventory, check out our guide, “Sales Solutions for Inventory Challenges.”
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