There is nothing worse than having aged inventory at your dealership. It is no secret that the longer the unit sits unsold, the more expensive it becomes. At which point, you could wind up losing money selling the unit. One simple but effective way to combat aging inventory is to take advantage of your inventory tool for online merchandising! Below are a few simple fixes that can make a big difference!
Image Overlays On All Inventory
Many of today's inventory tools enable you to create an image overlay that has your dealers logo and a phone number. This is then displayed on the first photo of every unit. One of the benefits of this is that it separates you from the other dealerships when it comes to third party listings. Not to mention, you can often easily add a tracking line to the overlay. By adding a tracking line, it not only makes your unit stand out, but it also provides a way of measuring how many calls you are getting from your VDP's. If you are not sure whether or not your vendor is capable of doing this, give them a call letting them know you want to add an image overlay. The tool usually can create different overlays for both new and pre-owned.
Banners! Make Your Unit Stand-Out
Just because the unit is on a specials page does not mean that it will stick out. Think about what makes your unit stand out from the rest, which could be anything from one owner, low mileage, special trim level, or a great deal! By adding a simple banner to the left-hand corner (remember, we read left to right), your customer will see a visual stand-out as to why the vehicle is a great deal. In doing so, not only does this make your vehicle stand out from the rest, but it increases your chances of getting a phone call or lead!
Photos! Make Sure The Vehicle Looks Showroom Ready
It might sound silly, but the fact of the matter is that the photos of the vehicle matter. If the pictures do not show off the features or are otherwise blurry, or even dirty, it can detract the customer from wanting to make a phone call or submit an inquiry. The best way to ensure that all of your vehicle photos are showroom ready is to ensure the following:
Consistency: make sure all of the vehicles are pointed in the right direction; usually, the first photo is of the front of the car pointing to the left. Another thing to consider is the background making sure there are no other vehicles in the background. You also want to consider having the front of the dealership in the background, which can help with branding.
Features: If the vehicle has extra options on the trim level, then be sure to get photos of those features. For example, if the car has a dual panoramic moonroof than be sure to take a picture so the customer can confirm that it has that option available. Another photo to take is of the 'control panel,' i.e., if it has CarPlay or Navigation - take a quick picture of it in action!
Outdated Photos: If the last photo of the vehicle - and this pertains to old aged inventory - has snow on the ground in the background, then take the extra minute or two and retake the photos. This is not to say that it will help increase the price, either. What this does offer, however, are new updated photos of the vehicle, which can have a positive impact!
Bottom Line: even if you tackle one of the three things above, this can have a positive impact on your aging inventory. The fast you sell the aging inventory, the better off your dealership will be in the long run.
Do you use image overlays? If so, did you see an increase in calls after implementing them with phone numbers? What is one way you keep aging inventory in check?