When customers are shopping your new inventory, their first go-to item is the OEM window sticker, as it holds the main points of interest for them: price and vehicle features. You anticipate this, as you know they’ve done their homework, have a specific vehicle and features in mind, and they’ve identified a set price that they are willing to pay. This makes your job a little easier, right? So, why do you not do the same for your pre-owned inventory?
Original window stickers provide both a concierge level of service to your customers and act as a valuable resource for making your team inventory experts on all brands and models. By incorporating the OEM window sticker into your pre-owned merchandising process, you can gain a competitive advantage by establishing a higher level of consumer transparency, which will lead to increased profitability.
Many of you might be thinking, “I don’t have a sales issue right now; I can’t keep my inventory in stock.” Take a moment to realize that this fire-sale frenzy that the industry is experiencing is temporary — but more importantly, your customers still have a choice as to where they buy their next vehicles. Providing a complete digital vehicle portfolio that includes the OEM window sticker elevates their buying experience with your dealerships. It also reaffirms your inventory pricing and supports the customer’s need for price integrity. In addition, arming your team with the information they need to understand other brand features for stronger vehicle appraisals and bookouts will help increase profitability and reduce point-of-sale negotiation.
Organize your vehicle display pages in a manner that is both helpful and effortless for accessing the vehicle’s history information. No matter if it’s new or pre-owned, include a digital portfolio that includes all the valuable supporting documentation that your buyers are seeking: window stickers, OEM brochures, CARFAX reports, recon invoice, photos and video. Our data shows that dealerships that include these features on their vehicle pages increase their customer engagement by 30%. Heat-mapping analysis concludes that consumers spend more time on retail window stickers than any other dealership web page. Providing the information upfront will help convert shoppers into buyers.
Make sure you are representing your dealership as the trusted source of information. Creating transparency while educating will mitigate the negotiations barriers that sometimes occur. Buyers appreciate this information, and it creates that concierge experience that they expect.
For Part 2, click HERE.
