by Anna Halloran
NOW is the Time to Market Your Used Vehicles!
We were all glad when 2020 ended. Finally, things would go back to normal again! But 2021 had other plans and is already throwing some curveballs at the automotive industry. With issues like factory shutdowns and limited computer chips, new vehicle inventory has become one of the industry’s biggest challenges. If you haven’t already been focusing on used vehicles at your dealership or group, could there be a more logical time to start than now?
Everyone Has Used Vehicles. How Do I Stand Out?
There are several ways to differentiate yourself from the competition. One approach that has worked for CBC clients is to brand your used vehicles. This provides a natural way to build in differentiators for your used vehicles over your competition.
When considering your used vehicle brand, it’s important to ask yourself a few questions:
- What do we do differently from our competition?
- What are used buyers in our market looking for?
- How can we make the buying process easier / bring more value?
Building Your Used Brand
Examining questions like the ones above will lead you to new opportunities in differentiating yourself from your competition, and eventually to creating a unique used-vehicle brand consumers can trust.
For example, Anytown Ford offers:
- The lowest price upfront with no negotiation; no haggling or worrying about getting the best price.
- Every vehicle comes with a 100,000 mile powertrain warranty at no charge.
- Free car washes for the life of the vehicle
- Free state inspections for the life of the vehicle
- 3 day return / 7 day exchange policy – Buy with confidence!
Looking at the above list from Anytown Ford – their benefits might be available at any number of other dealerships in the area, but Anytown Ford has decided to package them under the brand of “Anytown Ford Preferred Pre-Owned Vehicles”. Now these benefits have become differentiators, unique to Anytown Ford. Their used vehicles will be perceived as being more valuable, leading to more leads/sales and higher grosses, too!
A great automotive marketing agency (hello!!) will help you pull all these details together and brand your used vehicles in the best way for your situation. From there, you can start the marketing process!
Marketing Used Vehicles
You have your differentiators. You have your brand. Now it’s time to get them in front of potential buyers! Used vehicle sales are very inventory driven. Consumers are typically looking for something specific whether that’s price, model, or another factor. Branding your used vehicles gives potential consumers another reason to look at your dealership first.
If you’ve been reading our other recent articles, then you’re likely familiar with the graphic above (the buying cycle). It starts with Awareness. This is the perfect place to tell everyone why your used vehicles are a better value than your competition’s. Marketing channels like OTT, radio, TV, and pre-roll are great media platforms to introduce your used-vehicle brand.
When potential customers start researching, your used vehicles should also be on their social feeds, research websites and Google search results pages. Utilizing social inventory ads and/or targeted dynamic display programs allows you to get specific vehicles from your real-time inventory in front of targeted buyers in the earlier part of their online shopping process. This is where you can get to the customer before waiting for them to go onto CarGurus, Autotrader, etc. where you have to pay a premium just to sit next to your competitors.
With elevated technology and targeted digital services, you can bypass the competition and get your inventory in front of qualified shoppers as soon as possible. At this point the consumer will have already internalized your pre-owned branding message and thus will be more likely to reach out to you or visit your dealership.
We’re Here to Help!
Between COVID-19, inventory issues and everything else that occurs day to day in dealerships, you have enough to worry about. Let CBC help you create your used vehicle brand and get it in front of the right people at the right time. With 38 years of experience, we’re confident we can help you grow your used business! Let’s have a conversation.