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“The formula for MAXIMUM R.O.I. in Social Media!”

There is a rather simple formula when it comes to getting the MAXIMUM return on your investment in Social Media.

It’s so simple…..it might overwhelm you!

And while the formula is simple…..the actual implementation is the hardest part!

The formula???????…………….”Embrace it”…….

That’s the ENTIRE formula…..”embrace it”

That’s right!!…….go ahead and “embrace” social media!

Most Dealers and dealerships are scared to death to go ahead and try!

BUT…go ahead…..”Embrace it”!!!

Let’s start with the Sales Department.

We would ALL love to have an entire showroom floor filled with salespeople that could sell 20-25 units a month without EVER having to take any floor traffic.

Some dealerships have these salespeople already! Salespeople that have their own book of business and continue to sell their 20-25 units in good times and bad.

How do these salespeople accomplish this month after month??

These salespeople do an excellent job of calling their customers, following up, sending birthday cards, holiday cards and keeping them abreast of all the latest incentives, deals and new models that are coming out!

These salespeople become the customers “friend” in the car business!

Now what if you could get your ENTIRE sales team to do all of that every day??

It’s easy by utilizing Social Media!

Engaging your customers on Social Media sites such as Facebook, allows you to constantly update your customer with your latest incentives, your latest specials and article that pertain to the vehicle that they purchased from you, thus reinforcing that the customer made the correct decision in purchasing from you!

You can also update your customers on any “new” models that may be coming out! Everyone LOVES “spy” pictures of future product!

You can engage your customers to any special events that you may have upcoming.

You can send your customer the latest pictures or video of any accessories that you may have added to another vehicle that they might be interested in.

Did you make a note of the customer’s interests or hobbies in your CRM? You can send them interesting articles on their favorite sports team or television show.

What about the servicing of the customers car?

Wouldn’t it be great to send your customers information regarding any “Service Specials?”

How about some articles or video explaining tire wear or battery life?

Send your customer articles on preparing their vehicle for any seasonal changes, i.e…..snow tires, coolant checks, safety checks before a long vacation drive….etc…..

The amount of information we can send our customers via Social Media is non-stop!

But first…….you have to “embrace” Social Media!

The whole idea of Social Media is that it is a FUN way to interact with your customer!

People have FUN with their friends. And EVERYONE wants a friend in the car business! Friends take care of friends….You can be comfortable DEALING with a friend….a friend will always treat you right….friends always recommend their friends to other friends…..

You see, by “embracing” social media, you become more than just “that salesperson” at the car dealership. You become their friend!

Every dealership wants to have a great relationship with all of their customers. They would love all of their customers to endorse them and support them! They would want their customers to refer all of their family and friends to them!

You can do ALL of this by “embracing” Social Media!

So if you are trying to figure out the pros and cons of social media, what the investment is and how much of a return on your investment will be….. know this…..You will receive ZERO return on your investment if you DON’T embrace social media.

The saying goes….”you will miss 100% of the shots that you never take”….

Go ahead…..take the shot….embrace social media TODAY!!!

This article originally appeared in the November 2011 issue of “The Social Dealership”

Here is the link:

http://socialdealershipmagazine.com/the-social-dealership/november-2011-issue/

 

About the Author: From a Salesperson to a Dealer, I have a vast amount of experience in all areas of the automotive environment.

You can follow me on:

My website: www.JimKristoff.com  

Twitter: @jimkristoff

WordPress blogsite: https://jimkristoff.wordpress.com/

Blogspot blog: http://jimkristoff.blogspot.com/

DealerElite.net: http://www.dealerelite.net/profile/JimKristoff

Automotive Digital Marketing.com: http://www.automotivedigitalmarketing.com/profile/JimKristoff

LinkedIn:  http://www.linkedin.com/in/jimkristoff  

Youtube: www.youtube.com/user/jimkristoff


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Posted by on November 3, 2011 in Archive of all blogs

 

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Armed with ALL the knowledge; customers are still SCARED!

Today’s customers have access to an abundance of knowledge.

They can get on their computer or smart phone and see what the cost of a New Vehicle is.

They can appraise their own trade.

They can see what the lowest interest rates are.

They can do side by side comparisons with vehicles they are looking at.

They can check for the vehicles safety and reliability.

They can check how much insurance costs will be.

They can pretty much check on ANYTHING and EVERYTHING about the transaction!

Customers CAN, and in most cases DO, come armed with a LOT of knowledge before they enter the showroom floor.

BUT………they are still scared!

What are they scared of?

They are scared that they will still pay too much for the vehicle, not get enough for their trade, pay too high a payment, pay too high of an interest rate and most of all…….they are scared that they bought the wrong vehicle!

You see, even armed with ALL of the knowledge, there will always be some doubt by the customer that they are making the correct decision.

THIS is where YOU, the Sales Professional, can make a difference!

As a Sales Professional, you have to sell the product, the Dealership and YOU!!!!

“YOU”, make the difference in the sales transaction!!

Customers want to deal with someone that is knowledgeable, professional, and courteous…… and most of all……LIKE-ABLE!!!

So how do you get to become, “like-able”??

The formula is rather simple.

Ready???

Ask questions…….

That’s it……ask questions…and a lot of them!

LISTENING to the customer!!!!

You see the art of building rapport and knowing what a customer REALLY wants is the key to closing more deals!

The best closers do one thing better than everyone else! They ask the MOST questions.

When you ask questions, you get a better perspective of what the customer’s wants and needs are.

You get a better perspective of how they are going to use the vehicle.

You get a better perspective of what they “have to have’ and what they would “like to have”.

You get a better perspective of the information that the customer already has.

This is where, “YOU”, can make the difference!

YOU have to have extensive product knowledge of not just your own product, but the competitions product.

YOU have to have the ability to sell the advantages of your product over the competition.

YOU have to be able to know all of the 3rd party websites that are giving these customers their information! Websites such as, Edmunds, Truecar, NADA, KBB, NHTSA, IIHS, Consumer Reports, TheCarConnection, CarData, CarInfo, DealerNet…..the list goes on and on…..

YOU have to have the confidence and conviction of knowing HOW to overcome your customer’s objections with the correct knowledge and information to help them make the correct decision.

YOU can give the customer confidence that they are making the correct decision by purchasing your product!!!

The NUMBER ONE complaint of all customers in regards to the Sales experience is;

“The Salesperson wasted my time!”

The reason the customer feels that the Salesperson wasted their time was that the Salesperson didn’t listen to the customers wants and needs.

The Salesperson didn’t know their product.

The Salesperson didn’t give a good demonstration.

The Salesperson was not trustworthy.

As a Sales Professional, you have to make the customer feel comfortable and confident about their purchase!

The ONLY way you can make the customer feel this way is by becoming the very best at what you do!

Product knowledge, competitions products, comparisons, selling your products advantages, demonstrating, building value, practicing, drilling rehearsing….and……asking a LOT of questions!

Customers are armed with a lot of knowledge, yet they are still scared!

YOU can make the difference by putting all of the customer’s fears aside and making sure you give them the most professional presentation they will ever see!

If “YOU” can put the customers fears aside…..YOU will make the sale!!!

 

About the Author: From a Salesperson to a Dealer, I have a vast amount of experience in all areas of the automotive environment.

You can follow me on:

My website: www.JimKristoff.com  

Twitter: @jimkristoff

WordPress blogsite: https://jimkristoff.wordpress.com/

Blogspot blog: http://jimkristoff.blogspot.com/

DealerElite.net: http://www.dealerelite.net/profile/JimKristoff

Automotive Digital Marketing.com: http://www.automotivedigitalmarketing.com/profile/JimKristoff

LinkedIn:  http://www.linkedin.com/in/jimkristoff  

Youtube: www.youtube.com/user/jimkristoff


 
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Posted by on October 13, 2011 in Archive of all blogs

 

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Customers “wear” their vehicle!

Have you ever noticed that the type of vehicle that a person buys reflects their character or lifestyle?

People buy certain vehicles for a reason!

People buy pickup trucks for work or play….and maybe a little of both!

People buy minivans mostly because they have children.

People buy sports cars mostly because they like the image it portrays.

People buy high-line luxury vehicles for a status symbol.

People buy “green” vehicles mostly because they are concerned for the environment.

In ALL cases, people simply “wear” their vehicle. Their vehicle is an extension of themselves.

Like the clothes you wear, a vehicle becomes that new suit or that beautiful new dress. Maybe the vehicle becomes that sporty jacket you just bought or maybe the vehicle is that pair of sweat pants you just bought to run around and do errands with!

So if customers “wear” their vehicle, they also accessorize what they wear.

Customers will buy an incredible amount of accessories for their vehicle; just like they buy a new tie to go with the suit or a sparkling piece of jewelry to go with the new dress.

We all need to find every single opportunity to maximize our profits and give the customer a reason to be loyal to the dealership!

By making your store a “one-stop” shopping experience for those people that would like to accessorize their vehicle, you create one more reason for customers to frequent your dealership!

  • Are YOU as a dealer getting your fair share of accessory sales?
  • Are you even offering the customer accessory options?
  • Are you pricing the accessories to make it attractive for the customer to purchase from you?
  • Is your sales team involved in presenting these options?
  • Do you have 10-15% of your “in-stock” vehicles equipped with these accessories so that the customer can see them?
  • Do you have a dedicated area of the dealership to highlight accessories?

I encourage all of you to go to the SEMA show inLas Vegas!

http://www.semashow.com/

SEMA is short for Specialty Equipment Market Association, which was formed in 1963. The SEMA Show is the most excellent trade event for automotive specialty products in the world. It is consists of 6,764 companies worldwide and products in this $27.8 billion-a-year industry.

The first time I went to SEMA, I spent 2 entire days and STILL did not see the entire exhibit! It covers every square inch of the Las Vegas convention center!

Maximize your profit by checking out this show!

It is WELL worth your time!

 

About the Author: From a Salesperson to a Dealer, I have a vast amount of experience in all areas of the automotive environment.

You can follow me on:

My website: www.JimKristoff.com  

Twitter: @jimkristoff

WordPress blogsite: https://jimkristoff.wordpress.com/

Blogspot blog: http://jimkristoff.blogspot.com/

DealerElite.net: http://www.dealerelite.net/profile/JimKristoff

Automotive Digital Marketing.com: http://www.automotivedigitalmarketing.com/profile/JimKristoff

LinkedIn:  http://www.linkedin.com/in/jimkristoff  

Youtube: www.youtube.com/user/jimkristoff


 
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Posted by on October 3, 2011 in Archive of all blogs

 

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Pre-Owned R.O.I. – Assess them – Find them – Fix them – Sell them (Part 4 of 4)

(Part 4 – Sell them)

In the first part of this 4 part blog, we reviewed how to “assess” what would be your “perfect Pre-owned inventory mix”.

In the second part of this 4 part blog, we reviewed how to “find” your “perfect Pre-owned inventory mix”.

In the third part of this 4 part blog, we reviewed how to “fix” or recondition your vehicles for maximum R.O.I.

Now that we know what vehicles we are looking for and how to find them and how to fix them, the next step is how to sell them!

Properly marketing and pricing your vehicle for sale is the key to a fast sale with maximum gross profit!

Let’s talk about “on-line” marketing and pricing first.

Once your vehicle is properly cleaned and reconditioned for sale, you have to take multiple pictures of the vehicle both inside and outside. Your perspective customer wants to see a LOT of pictures if they are viewing the vehicle on the internet. Make sure you include pictures of the mileage, tire tread depth and all angles of the vehicle inside and out! You should take a minimum of 20 pictures for each vehicle. Pay special attention to any upgraded factory accessories on the vehicle such as wheels, spoilers, roof racks…etc…..

The first two or three sentences of the vehicle description on-line are very important! Customers do NOT want to read a general list of the vehicles specifications and options! You MUST write the first few sentences as if you were writing a headline of a newspaper! You need to get the perspective customers attention! Sentences that start off with;

“ONE OWNER”,

“EXTREMELY LOW MILES”,

“UNBELIEVABLY CLEAN”,

“ORIGINALLY BOUGHT AND SERVICED HERE”

Get the perspective customers attention with a solid and well written description!

Produce a 60 second video of the vehicle! It not only provides a great marketing piece to help sell the vehicle, it also provides great SEO, (search engine optimization) for your vehicles on the internet! If you “tag” the video with the correct words it will show up in the search engines more easily and frequently!

You can market your vehicles on a vast number of Automotive Pre-owned websites. First, pay attention to marketing them on your own dealership website! Once you get your dealership website set, get the vehicle out to as many automotive Pre-owned websites as possible! The more exposure you have, the quicker and easier it will be to sell the vehicle!

Pricing the vehicle on the internet AND on the showroom floor should be the same! One sure way to upset a customer is to give them a price in the showroom that is higher than what they saw on-line! Seamless and transparent pricing policies need to be adhered to!

Price your Pre-owned vehicles “to market”! Don’t just “add” $ ”X” to the cost of the vehicle to set your pricing. There are many software tools to help you understand what the average retail price of a similar vehicle is in your market. Whether you use “V-Auto, AAX, First Look…..etc….the information is very similar.

The two most important pieces of criteria that a perspective customer is looking for in a Pre-owned vehicle are, price and mileage. Make sure that your pricing is in line with similar vehicles with the same mileage.

Once the customer gets to your dealership to look at your pre-owned inventory, make sure your sales staff knows all about the different makes models and trim levels that you have available!

When the customer walks into the showroom and asks, “What do you have in a 4 door import vehicle for under $12000.00?” you need to have a staff that is trained to give the customer a couple of different options within the first 60 seconds!

Your staff needs to have an overall knowledge of what pre-owned vehicles you have available and at what price points they are available at!

Marketing, pricing, knowledge of inventory and professionalism are important keys to selling a pre-owned vehicle!

Assessing, finding, fixing and selling your pre-owned vehicles for MAXIMUM R.O.I. is essential to the overall success of the dealership!

 

About the Author: From a Salesperson to a Dealer, I have a vast amount of experience in all areas of the automotive environment.

You can follow me on:

My website: www.JimKristoff.com  

Twitter: @jimkristoff

WordPress blogsite: https://jimkristoff.wordpress.com/

Blogspot blog: http://jimkristoff.blogspot.com/

DealerElite.net: http://www.dealerelite.net/profile/JimKristoff

Automotive Digital Marketing.com: http://www.automotivedigitalmarketing.com/profile/JimKristoff

LinkedIn:  http://www.linkedin.com/in/jimkristoff  

Youtube: www.youtube.com/user/jimkristoff


 
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Posted by on September 26, 2011 in Archive of all blogs

 

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Pre-Owned R.O.I. – Assess them – Find them – Fix them – Sell them (Part 3 of 4)

(Part 3 – Fix them)

In the first part of this 4 part blog, we reviewed how to “assess” what would be your “perfect Pre-owned inventory mix”.

In the second part of this 4 part blog, we reviewed how to “find” your “perfect Pre-owned inventory mix”.

Now that we know what vehicles we are looking for and how to find them, the next step is to “fix” them.

The art of reconditioning a vehicle for re-sale is essential to achieve maximum R.O.I. for the dealership!

You have to use common sense when it comes to reconditioning a vehicle.

You want to make the vehicle as presentable and sellable as possible.

You want to make sure that your perception of what the costs are to properly recondition the vehicle fall into line with what the reality of the costs are.

If you have figured that it would cost a certain amount of money to recondition the vehicle when you obtained it and it is costing you more than what you originally thought, you need to adjust your thinking when you are appraising vehicles! That being said, you don’t want to take “shortcuts’ or not recondition the vehicle correctly to compensate for a vehicle that may have been “over appraised”!

I believe proper reconditioning of a vehicle comes down to just two simple elements.

Does the vehicle LOOK GREAT and is it MECHANICALLY SOUND?

Let’s talk about the physical appearance of the vehicle first.

I believe a great looking vehicle is much easier to sell than one that doesn’t look its best!

Have you removed all of the body dings, dents and scratches? Little dings and dents are the first thing a perspective buyer looks at before they even get in the vehicle. Did you re-paint the bumper covers to take away the scratches and scuffs?

How about the interior? Have you cleaned and shampooed the entire interior? Did you remove all of the stains from the seats and carpets? How about a new set of floor mats? New floor mats are an inexpensive way to make the interior look its best!

Was the former owner a smoker? Did the former owner have pets in the vehicle? Removing ALL odors completely is essential to making it presentable to the next buyer!

Is the vehicle properly detailed for re-sale? You have to constantly monitor the cleanliness of the vehicle when it sits on the lot! Is it washed, waxed and vacuumed properly AND daily? Are the wheels clean of brake dust and polished to look good? Did the vehicle go out on a demonstration drive and get dirty by going through puddles or by having dirt brought into the inside by dirty shoes?

Are the proper warranty stickers/paperwork properly displayed in a clean and neat fashion without damage?

Did you take off any of the competitions “badges” or dealership information and affix your own?

Is your license plate bracket affixed to the vehicle properly?

All of these little details are NOT missed by your customers! Make sure you are proactive in making sure you vehicle looks its best!

Now let’s talk about the mechanical aspect of reconditioning.

The obvious part is to make sure that the vehicle is going to pass any and all State mandated requirements for safety and inspection!

I believe if there is less than 40% life on a brake pad or a tire, it needs to be replaced. It makes a great selling point and story to the customer when you explain that this is your policy! Telling a customer that you value their safety by either putting on new brakes or tires builds value in your Pre-owned vehicle!

If the vehicle is within 5000 miles of a major service interval, go ahead and do the major service! It makes two great selling points with the perspective customer! First of all, it again builds value in your vehicle and secondly, when the customer purchase the vehicle, their first service experience in your dealership will NOT involve a costly repair! The first interaction with your Service Department will be a simple oil change. This will build retention and word of mouth endorsements for your store!

Make sure all of the accessories work correctly! Navigation systems, DVD players and stereo systems should all be checked for proper working order.

Does the vehicle have any OEM aftermarket equipment? Roof racks, fog lights, spoilers, etc….it should all be checked for proper function and instillation!

In the end, “FIXING” the vehicle correctly to maximize your R.O.I. is essential for the dealership!

 

About the Author: From a Salesperson to a Dealer, I have a vast amount of experience in all areas of the automotive environment.

You can follow me on:

My website: www.JimKristoff.com  

Twitter: @jimkristoff

WordPress blogsite: https://jimkristoff.wordpress.com/

Blogspot blog: http://jimkristoff.blogspot.com/

DealerElite.net: http://www.dealerelite.net/profile/JimKristoff

Automotive Digital Marketing.com: http://www.automotivedigitalmarketing.com/profile/JimKristoff

LinkedIn:  http://www.linkedin.com/in/jimkristoff  

Youtube: www.youtube.com/user/jimkristoff


 
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Posted by on September 26, 2011 in Archive of all blogs

 

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Pre-Owned R.O.I. – Assess them – Find them – Fix them – Sell them (Part 2of 4)

(Part 2 – Find them)

In the first part of this 4 part blog, we reviewed how to “assess” what would be your “perfect Pre-owned inventory mix”.

Now that we know what vehicles we are looking for, the next step is “finding” them!

There are many places we can search to find these vehicles!

The “front door” is a good place to start! Are you properly appraising each and every customers “trade-in” vehicle? Are you utilizing all the available tools and software to help you in the appraisal? Have you enlisted several opinions of different Managers in the store? Did you miss something in the appraisal? Take advantage of every opportunity to take these vehicles in on trade! A daily review of trade-in opportunities between all department managers is a key to maximizing your potential!

Are you “data-mining” your database of customers? Do you utilize vehicle equity tools, software or calculators to help you proactively find customers that may be in an equity position OR have the ability to trade out of their vehicle today? Are the customers coming to the end of their lease contract or finance contract? Is the customer, “on-track” to go OVER the contracted amount of miles on their current lease? Is the customer, “out of warranty coverage” on their current vehicle? Could you use a particular year, make and model to enhance your “perfect inventory mix”? There are several great tools out there to help you in this search!

Do you have a dedicated Sales team of people working in your Service Drive? There are customers driving into your Service Drive on a daily basis. They already like and trust your Service Department! Are these customers still happy with their current vehicle? Have the customer’s needs changed since they bought the vehicle? Have the customer’s driving habits changed since they bought the vehicle? Is the vehicle nearing the end of a lease? Is there a new “body style” available in the current model the customer has? Is the customer unwilling to spend additional money to maintain their current vehicle? The Service Drive is one of the biggest opportunities for additional sales in the dealership! However, it is one of the LEAST utilized opportunities in dealerships nationwide! Don’t miss out!

Are you contacting individuals that have their vehicle listed for a “private party sale”? These individuals have their vehicle listed for private party sale for a number of various reasons. These individuals should be contacted to let them know you are willing and able to purchase their vehicle today! Explaining to these private party sellers the pluses and minuses of attempting to sell their vehicle on their own is the key element in attempting to purchase their vehicle! Explaining to the customer the ease in doing business with you is another key! Most individuals do not look forward to strange people showing up at their homes, wasting their valuable time, worrying about getting a safe and cash-able payment for their vehicle or taking care of any “payoff” on their vehicle! By doing business with your dealership, you can alleviate all of these customer worries!

Do you utilize a wholesale auction to fill in some of the gaps in your “perfect Pre-owned inventory mix”? Do you have a plan of what you want to purchase and how much you are willing to spend on each individual vehicle? Preparing your “game plan” is absolutely essential to making sure you are purchasing the correct vehicles and for the correct dollar amounts! Don’t get caught up in the auction hype! Preparing a solid game plan BEFORE you start purchasing vehicles at the auction stops you from paying too much for the wrong vehicles!

Finding the correct vehicles to enhance your “perfect Pre-owned inventory mix” is essential to maximizing your R.O.I.!

Get started….NOW!!!

 

About the Author: From a Salesperson to a Dealer, I have a vast amount of experience in all areas of the automotive environment.

You can follow me on:

My website: www.JimKristoff.com  

Twitter: @jimkristoff

WordPress blogsite: https://jimkristoff.wordpress.com/

Blogspot blog: http://jimkristoff.blogspot.com/

DealerElite.net: http://www.dealerelite.net/profile/JimKristoff

Automotive Digital Marketing.com: http://www.automotivedigitalmarketing.com/profile/JimKristoff

LinkedIn:  http://www.linkedin.com/in/jimkristoff  

Youtube: www.youtube.com/user/jimkristoff


 
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Posted by on September 26, 2011 in Archive of all blogs

 

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Pre-Owned R.O.I. – Assess them – Find them – Fix them – Sell them (Part 1of 4)

(Part 1 – Assess them)

Pre-Owned vehicles are the life blood of any successful automotive dealership!

For some dealers, that don’t floor plan pre-owned vehicles, this is where aLOTof cash can be found!

So why is it that some dealers feel that the Pre-owned department takes a “back seat” to the New vehicle department?

Limited allocations or availability of New vehicles can be maddening! You never know when an earthquake and tsunami will impact your ability to get New vehicles.

Economic conditions can also impair your ability to have the correct “mix” of New vehicles. When gas prices go up, you can never seem to have enough “high gas mileage” vehicles available!

You can NEVER get enough of the “hot” New vehicles and there are always plenty of the “slower moving” New vehicles available!

On the other hand, your Pre-owned inventory can be as small or large as you like. You can stock the exact mix of “hot” pre-owned vehicles to maximize your R.O.I. (return on investment).

Taking the time to properly assess your Pre-owned inventory to “find” the correct mix of vehicles for your market is imperative to your success!

You have to assess what are the quickest and best moving makes and models in your area.

Make sure to stock your own “brand” of pre-owned vehicles. Whatever the manufacturers sign says on your building, make sure you have the correct mix of Pre-owned vehicles that were great selling vehicles when you sold them “New”! For example, customers will naturally gravitate to a Chevrolet store to look at and find Pre-Owned Chevrolet’s! Make sure you have the right mix on the lot!

You have to assess market conditions. What are the best Makes, Models and model year vehicles to stock? If there is a lack of New models, do you stock 1 and 2 year old vehicles to fill the void? What if New models are plentiful? Do you stock 3 year old models and older to maximize and balance your inventory options?

You have to assess seasonal conditions. Is your dealership in a northern climate? Have you stocked enough 4 wheel drive vehicles going into a winter season? Is your dealership in a southern climate? Have you stocked enough vehicles for the “snowbirds” arrival? Whatever the season, you need to be prepared and look ahead to seasonal conditions that give you an opportunity to maximize sales.

You have to assess economic conditions. Are gasoline prices going up? If gas prices are up, you need to stock additional “high gas mileage” vehicles. What is the median income of people in your area? If the median income is lower than average, do you stock less expensive pre-owned vehicles? You need to know the economic demographics of your area!

You have to assess availability conditions. Is there a shortage of available new models? Is there going to be a large amount of a certain model that is going to flood the market because there was a great lease deal on it 3 years earlier? Either a lack of or a plentiful supply of a certain model can change dramatically what the vehicles value may be worth! It is important that you research this and know it going forward. If there is going to be a lack of a certain model, you can “step up” on an appraisal of this vehicle. If there are going to be a huge influx of a certain model that is “coming off lease”, you may want to be a tad more conservative in it’s appraisal.

You NEED to have a Pre-owned “perfect inventory” map and guideline to correctly stock your Pre-owned department.

Do you have the correct tools and information to help you in this assessment? Or….are you just “winging it”??

The utilization of the correct tools to help you in this assessment is imperative to your success!

Maximize your opportunity in your Pre-owned department by assessing exactly what your inventory mix should look like!

Constantly monitoring your Pre-owned inventory mix will ensure you are getting your highest R.O.I.!!!

 

About the Author: From a Salesperson to a Dealer, I have a vast amount of experience in all areas of the automotive environment.

You can follow me on:

My website: www.JimKristoff.com  

Twitter: @jimkristoff

WordPress blogsite: https://jimkristoff.wordpress.com/

Blogspot blog: http://jimkristoff.blogspot.com/

DealerElite.net: http://www.dealerelite.net/profile/JimKristoff

Automotive Digital Marketing.com: http://www.automotivedigitalmarketing.com/profile/JimKristoff

LinkedIn:  http://www.linkedin.com/in/jimkristoff  

Youtube: www.youtube.com/user/jimkristoff


 
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Posted by on September 26, 2011 in Archive of all blogs

 

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