VALUE AND NOT JUST PRICE CAN BE A MUCH BETTER PROPOSITION WHEN IT COMES TO SELLING USED VEHICLES
Depending on who you talk to, the term certified pre-owned conjures up many different associations, definitions and reactions. To a consumer the term ‘certified’ may be that simple little word they look for in a used car ad that indicates a car has passed a minimal provincial safety inspection and may be worth a closer look.
To a dealership customer who has researched and purchased a manufacturer’s certified pre-owned vehicle, the term represents transparency, quality, reliability, security and peace of mind. It also represents the prestige and dignity of a new car buying experience with the practicality and savings of used.
To a dealership and its sales and management team, the term certified pre-owned may also conjure up different meanings. For one group of dealers, managers and salespeople however, ‘certified pre-owned’ is not so much a definition or a program, but rather a philosophy of doing business.
CREATIVE MARKETING
A successful certified pre-owned dealer must (like any successful used vehicle operation) aggressively and tenaciously seek out the right vehicles at the right market price, mechanically and cosmetically recondition them to the highest industry standards and creatively market them in the digital world.
Once the telephone rings and the e-mails flow, salespeople and Internet sales managers need to employ modern strategies to woo customers to their showrooms, and once there, treat them to a well-crafted and enthusiastic sales process.
The sales process must consistently (and passionately) sell the value of the vehicle, the features of the certified pre-owned program, the dealership’s facility and range of services, along with the reputation, community involvement and dealer brand that stand behind the vehicle. Consumer research has validated that price is only one element of consideration when choosing a pre-owned vehicle. In fact, vehicle history, warranty, and vehicle condition consistently remain the top three influencers ahead of price. Price ranks fourth in almost all research studies.
So what does all this mean? Well, if the concern is that your telephone won’t ring and the e-mails won’t flow if you’re not in the top 5-10 percentile of cheap, you will need to employ other digital marketing tactics.
For instance, isolate several vehicles that will not be a part of your certified pre-owned program and market them on a separate lot area of your dealership away from your certified pre-owned vehicles. This could be your “B” lot for your “budget conscious” customers and could be the price leader vehicles online that will get you to the top of price search engines and get your dealership ranked.
Consider building a virtual dealership. If there is more “finger traffic” than “walk-in traffic,” use your dealership as a forum to build trust with your customers and build your brand. Offer endless information in the form of tabs, articles, blogs and videos — examples could include:
- Make a video: “Why Buy Here!”
- Post photos and video of your community involvement — charitable, team sponsorships, food and toy drives, etc.
- Post and describe in detail your dealership’s sales process;
- Post and describe the process for appraising trade-ins;
- What is a certified pre-owned vehicle?
- Post your inspection report/checklist;
- Make a video of your inspection and reconditioning process;
- Make a video that educates the customer on how to identify an accident-damaged vehicle;
- Post the details of your warranty coverage and a PDF of every single covered and non-covered part;
- Create an online vehicle resume for each of your certified pre-owned vehicles that includes a creative vehicle description (assign to your salespeople), a vehicle history report, the repair order and a video of the vehicle. Make a video of each customer taking delivery of their new certified pre-owned vehicle describing the dealership sales and service experience and why they chose a certified pre-owned vehicle;
- Highlighting the benefits of an extended service plan;
- Why it’s important to maintain your vehicle according to the manufacturer’s maintenance schedule;
- Build your brand online. Build certified pre-owned online. Become the trusted expert and source in your marketplace;
- Sell the best pre-owned vehicles in your marketplace. If you are going to offer a blue 2010 Mazda3 with 53,124 km on the clock, then make sure that it is the best blue Mazda3 with 53,124 km on it anywhere in your trading area! Period!
