automotiveMastermind (aM) announced the company has officially launched Turn. This product enhancement will allow dealers to improve their vehicle turn rates by predicting the customers that are most likely to purchase that vehicle. Turn will be accessible to all users of Mastermind, aM’s automated sales and marketing platform.
“With inventory finally returning to normal industry levels, dealers will once again need to carefully manage those slower moving models that create a drag on profitability,” said automotiveMastermind Chief Product Officer Aaron Baldwin. “Turn not only helps dealers improve their inventory turn range by allowing them to better identify and sell aging inventory, but also to replenish inventory by strategically identifying customers who have high-value trade-ins. Turn delivers on our commitment to continuously enhance the Mastermind platform to enable our dealer partners to increase profitability and provide the best experience to their customers.”
Every day a ready-to-sell car sits on the lot, it costs the dealership money. The longer it remains unsold, the more their profit margin will diminish. aM developed Turn to intelligently sort vehicles based on age, make, model and the number of days the vehicle has been on the lot. Sales teams can then use this data to pitch a qualified list of loyal customers identified and scored as the best potential buyers for each specific vehicle.
Through Turn, dealers can:
- Improve their profitability by better managing inventory that has been on the lot 30 days or longer.
- Strengthen the value of used vehicle inventory by identifying customers with a higher potential to trade in their vehicles.
- Improve the efficiency of the overall floor plan by increasing their inventory turn rate.
