Many dealerships face the challenge of selling both new and used cars. Knowing how to segment your market, and target effectively, is key to success in the Automotive Industry. A Multi-Channel Marketing Mix will position your dealership best in the marketplace. These two shoppers have very different needs and wants. In order to better understand what automotive consumers are looking for, we have compiled some important aspects to consider when marketing towards each respective market.
Used Car Inventory
Whenever anyone purchases a used car there is always a level of uncertainty. Having detailed reports about the history of the car will strengthen customers trust.
Is there still a manufacturer’s warranty? Is it transferable to the second car owner? Can I buy a warranty? All questions that your dealership should be able to answer for a customer looking at purchasing from your lot.
This is a more important factor for used car customers than new ones. Used car buyers tend to have a firm budget and must stick to it! Be sure to show customers cars they can realistically afford.
New Car Inventory
New car buyers expect to get everything they want when looking for a new automobile. Be sure to stay up to date with all of the different customization features at your specific dealership.
What incentives do your new car buying customers have to purchase specifically from your dealership? Free oil changes for life? Trade in options? Customers want to shop at a dealership that stands behind the cars it sells.
Many customers are unaware that there is a shipping cost when purchasing a new car. Be sure to identify all of these easily overlooked costs, so customers are fully aware.
When balancing both new and used inventory, it can be tricky to target the right customers, with the right vehicles. Be sure to consider these aspects and your dealership will soon be on its way to better targeting customers!