It is no secret that we love our reports everything from Google Analytics, Vendor Reports, VDP Reports, and CRM Reports, to name a few. While the reports themselves are in many cases great - it is what we do with the reports that actually matters. One of the key things to review when it comes to the aged inventory is your VDP views. The idea that if you are getting the views and clicks, but not the leads, then you need to make a change. Here is one thing you can do to move old aged units from your dealership's inventory!
All Clicks No Action. Think Outside the Box.
If you have a vehicle that has received well over three hundred clicks/views but has not moved it does not mean it is necessarily the price as other factors can contribute to there not being any conversion on the specific vehicle. Some of the things that can influence the VDP conversion are anything from photos, vehicle description, and days to market metrics, to name a few.
So if you notice that while the days to market is high, but that other units are selling, then it is time to think outside the box. There is a lot of conversation surrounding videos, yet so few dealers act on it. And this is not a stitch photo video, either - cause when is the last time you enjoyed listening to music while going through a slide show with features that are not even on the vehicle popping up? Keep in mind, this is a video that highlights the unit making yours stand out from the competition. Most inventory management tools even offer you the ability to upload the videos to the VDP, too!
Better Yet. Promote the Video Post on Facebook!
Facebook is a great platform to promote a post. Not only can you select the demographics for the post, but more importantly, you are getting in front of the right audience. Not to mention, it can help clear out the white noise - i.e., your vehicle being buried down on page three because of the third parties platform's algorithms. Think about it, sure you can take new photos. And yeah, you can gut the pricing - however, protecting your dealer's profit margin is essential. So Instead of slashing the price take a minute, and $125 - $200 bucks and promote the vehicle in a video post!
Here Are Some of the Key Elements to Consider For Your Video
Hashtags: make sure to make them relevant and while less is more, be sure to include enough to make yours stand out.
Video: Keep the video short, and concise making sure to point out the prominent features. Other words, what would make you want to click for more information? Or more importantly, what would make you want to call the dealership!?
Tracking Lines: In most cases, it is relatively easy to create a tracking line or even use a previously provisioned line from an older campaign. In doing so, you can easily track any results from the campaign.
Include Your Sales Team: while I have been vocal about being careful in branding the employees - making sure it is mutually beneficial for the dealership - this is an excellent way for you to capture an in the market audience by using one of the sales consultants in the video. One of the best ways to select the right sales consultant for the campaign is to go by their reviews! For those who have championed Dealer Rater, your prospective customers can easily see just how many positive reviews s/he has received. To include the reviews, you can easily add a snippet in the video with their photo, avg rating, and perhaps their last review of a customer who had a great experience.
Lastly, and most importantly, have fun with it! Sometimes it is easier said than done to go out and create a video. Just remember to create an experience that a potential customer would want to embark on. All of which can help your dealership move the old aged inventory or better yet, give exposure to sell other potential customers!
When is the last time you created and promoted a video post on Facebook for an aged unit? If you have, did you see results from it?