With Christmas holidays now all but a short memory, the kids are back at school, the Christmas debt is starting to clear, and the usual frenzy of car sales enquiry has started.
It’s important to remember over the coming month that now is an important time to maximise opportunities. General signs and stats suggest the market has improved, both new and used car sales are steady, and our indicators suggest continued growth.
With many approaching the end of their financial year in March, now is the time to maximise every potential sale that comes your way, and look at removing any dead stock through potential lost leaders.
Maximising opportunity is the key to conversion, and some of the basics that fall by the way side after a break can be detrimental to getting the user to enquire. These basic steps can be taken to make sure you are getting the best of the opportunities that present themselves:
· Display as many images good clear images of the car as you can – interior, exterior and all the little details that make the car unique. Ninety six percent of cars without images get no enquiries;
· Break up your description of the car, use bullet points to highlight the main features, be clear with your brief of the vehicle, make it easy for the consumer to understand the information given, and make it as simple as possible;
· Make sure the vehicle is priced to suit the market. Autotrader has the functionality to help with pricing. By clicking on the advanced search, you can view the recently expired listings. Though these are not the actual sale price, they do give you an idea of the price searched by the user;
· Display all your stock, even the low margin or lost leaders as you may be able to switch a customer onto another car. By showing all your stock with good images, you will appear in more searches;
· Engage with your customers through phone and email – good, helpful service will result in better conversion rates.
There is a strong correlation between speed of response by dealers and purchase from the recent Autotrader.co.nz survey conducted by Nielsen’s – these results are relevant to Autotrader only.
· Of all respondents who found the dealer to be helpful/very helpful, 31% purchased the car in question
· Alternatively, of those who found the dealer to be not helpful/not at all helpful, only 6% purchased the car in question, while 34% said they would purchase the car elsewhere
· Overall, 31% of those interviewed by telephone purchased the car in question
· Of those who found the dealer helpful/very helpful, 36% purchased the car
· Only 19% of those who left a message went on to purchase the car (equivalent to email below)
· Overall, 19% of those who sent an email request purchased the car in question
· Of those who found the dealer helpful/very helpful, 26% purchased the car
· Of those who purchased the car in question, 91% were contacted by the dealer within 24 hours. All of them regarded the dealer as helpful/very helpful
· 88% of those who had a response within 24 hours of a dealer found then dealer helpful/very helpful and continued with enquiry, compared to 73% of all surveyed.
Source - Nielsen.