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All month long we’ve been focused on mining your dealership’s most valuable asset, your database, and this week is no different. Let’s take this opportunity to concentrate on driving qualified, ready-to-buy customers to your showroom. How you ask? Here are three ways to harvest your database to find additional sales this month.
Look for Customers to Upgrade
Everyone who has ever bought a new vehicle loves it for at least the first three years, but by year five, they start to get the new car itch. Especially because the newer models have come out with new enhancements, body styles, and technology. Look into your database and find customers who purchased a vehicle from you five or more years ago and who have visited your Service Department in the past year. This will help you target vehicles professionally maintained at your store.
Trade In, Trade Up
Another great segment of customers to harvest out of your database are people who bought a vehicle from you and are now in a favorable equity position. Most of these customers don’t even realize they have built up equity in their vehicle and some don’t even know what equity means. These customers are perfect to target and entice with a new vehicle, especially because many times your sales team can get them into a new vehicle for the same monthly payment or less.
Contact Lease Terminations
We all know once someone’s lease expires they have to return the vehicle, but from where will they get their next vehicle? Customers who have leases expiring soon are a great group to harvest from your database because you already know they’re going to need a new vehicle. If you have an early termination program, be sure to communicate the details to this group of customers and also promote any current lease specials your dealership is offering.
The truth is, your database is full of opportunity, and all you need to do is find it. Delivering on any of the three strategies mentioned in this post will help your dealership bring additional sales by the end of the month.