Automotive dealers have been experiencing inventory shortages for some time, especially with the ongoing global computer chip (or semiconductor) shortage. Many OEMS are therefore cutting back on production, particularly on pick-ups and SUVs. The shortage and pause in production are also leading to layoffs across the board.
Even the Wall Street Journal has mentioned that the “car industry entered 2021 hoping to restock, but supply-chain problems are extending the crunch—meaning slimmer pickings, higher prices and longer waits.”
With the shortage of new cars, many shoppers are turning to used models to get what they want. However, this too might become an issue as used cars become less available. One positive from this is that customers can get a lot more for their trade-ins—and may be looking to do just that.
Outsell customers are making the most of this lacking new inventory by focusing on tools within their virtual customer engagement platform naturally attuned to finding trade-ins, moving specific models they have in abundance, and custom content specific to their goals, like vehicle buy-back.
Find a Trade-In
Outsell isn’t only about marketing to net new prospects but also current customers, and the most effective way to market to any consumer is by knowing more about them. Outsell consolidates your data into a single Consumer Database to keep track of everyone’s most up-to-date information, including vehicles owned.
An average dealer has over 1,800 consumers that are trade-in targets to both acquire used vehicles and move available new vehicles.
Find a Trade-In helps identify potential quality used vehicles when inventory is hard to come by. This tool helps prioritize outreach to customers who may be interested in making a change and allows dealers to stock inventory by acquiring that used vehicle.
On Demand Campaigns – Move A Model
While Outsell is a turnkey solution sending AI-driven communications to consumers personally, continuously, and automatically, we understand that sometimes dealers have specific models you need to move now.
Rather than sending a “CRM blast” to everyone, audiences targeted using Outsell’s Move a Model campaign are twice as likely to convert. A relevant message to the right consumers increases conversion and provides a better customer experience.
Move A Model gives dealers the ability to target consumers who have engaged or could be interested in the specific model you’re trying to move. Transactional and engagement data dictates the audience who should receive this campaign instead of relying on older information and marketing out of your CRM.
Effective communications need to put the needs of the consumer first but Outsell still allows and encourages our dealer customers to include custom content to promote whatever is top of mind for your dealership each month – in this case, vehicle buy-back and trade-in incentives.
Custom Content promoting offers and special events increases the quality of engagement on the communication, with specific VDP views increasing over 20% vs non-customized communications.
Highlight what matters most to your dealership during these continuing trying times and build your brand however you see fit to your entire database.
Contact Outsell today to learn how you can combat lacking inventory by delivering dynamic individualized lifecycle communications customers actually want – through email, direct mail, social, and more.