This is a tough time to be in the new car business.
While many dealers and dealer groups are justifiably reigning in their marketing budgets (some even going “dark”), there is still a quiet battle for the biggest piece of the new and used vehicle market share pie while we all hold our breath for supply chain issues to return to normal. For that reason, it’s still imperative to know exactly what is happening within the sales month, however erratic it may be, which is where EDGE can help.
- Monitor current state of the industry/market – Every dealer is having inventory issues. Leverage EDGE daily sales data to monitor the state of your market and engage with potential buyers in your backyard when you have inventory on the lot or on the way. Only EDGE allows you to see what is happening while it is happening so you can pivot accordingly. By the time registration data is available, it’s too late. Your competitors likely don’t have the advantage of daily sales data, which is why we call it EDGE.
- Sell the new vehicles you do have – You may not have many full-size pickups on the lot, but you may have plenty of compact cars, for example. Use EDGE’s “Geography by Model” module in the Conquesting Tab to identify strong targeting ZIPs for the models you have and/or conquest other brands that are making sales in that segment.
- “We’ll buy your car” / used car sales – Use EDGE data to identify the vehicles/segments that are currently in demand. While we don’t yet monitor used vehicle sales in EDGE, you can still leverage the data to find the models consumers want and create campaigns around buying and/or selling those vehicles.
- Fixed ops/service campaigns – While you don’t have control over your inventory, you do have control over your fixed ops. Leverage EDGE data to geographically market your service department for your brands/vehicles. With the new car shortage, people need to maintain their current vehicles more than ever. Beef up service hours, create oil change specials, tires, etc. to foster customer relationships. When inventory comes back, those customers will be more likely to buy from a dealership where they have an existing relationship.
Is this a shameless plug for EDGE to readers who aren’t yet subscribers? Absolutely. But it’s also a reminder to current users who may need a fresh way to look at the data. In either case, our team is available to answer questions, jump on screen shares and help you win in 2021.