By: Shane Marcum, General Manager, Cross-Sell and Inventory Solutions
Dealers use a variety of tools to manage their inventory, but are often uncertain about which tools drive the best results. Knowing this, we recently reviewed sales transactions from 4,500 Dominion Dealer Specialties dealers who use Dominion Inventory Manager’s Pro Package. Dealers using our best-in-class inventory solution consistently turn their inventory faster. Vehicle turn improved across the board for certified, new, and used vehicles. As expected, used vehicles reap the greatest benefit, selling 24.7% faster. We created a quick infographic to highlight our findings.
It is no surprise that the most complete inventory management and analytics solution drives best-in-class merchandising success for so many dealers.
Why does Dominion Inventory Manager Pro perform so well?
Dominion Inventory Manager Pro is a comprehensive inventory solution with everything dealers need to price and merchandise vehicles accurately for an ever-changing market. More than just an inventory management solution, Dominion Inventory Manager Pro is a powerful, market-based analytics tool that gives dealers a strong competitive advantage.
What types of data and analytics can dealers expect with Dominion Inventory Manager Pro?
Market-Based Price Guidance
These real-time pricing analytics and references based on current market trends help dealers determine the best price for each local market.
Sourcing Guidance
This real-time data helps dealers understand what to buy, where to find it, and how vehicles compare to actual online listings.
Appraisal Guidance
These analytics enable dealers to make better decisions about what to pay for auction vehicles and trade-ins before acquisition. Dealers can evaluate missed trade-in opportunities to refine their appraisal strategies and win more deals.
Vehicle Performance Reporting
Dominion Inventory Manager Pro lets dealers instantly see how their inventory performs across their entire digital footprint. The Vehicle Activity component ensures vehicles are always priced correctly to appear in search results and properly merchandised to gain car shopper consideration.
Mobile Access
With Dominion’s IVM Mobile App, dealers manage, price, appraise, and move vehicles through the reconditioning process using their smartphones. photo and video assets can be managed here as well.
Dealers using Dominion Inventory Manager Pro also benefit from integrations with other inventory components such as:
New Car Incentives
Relevant OEM rebates and incentives are automatically applied to help dealers determine the best pricing and merchandising strategy for their new car fleets.
Dominion Recon
With Dominion Recon, dealers identify bottlenecks, streamline the reconditioning process, get vehicles front-line ready faster, and improve ROI.
Cross-Sell Interactive
Built-in, dynamic, automotive market and competitive intelligence reports help dealers dominate their market.
We will continue to monitor results and share them along the way. In the meantime, if you would like more information about our award-winning, best-in-class merchandising solution, contact us at 877-421-1040, or visit our website to learn more.
