Liviu Marcus
Having and operating a car dealership is not peanuts. It demands prescience, commercial sense, as well as the knowledge of how to approach the potential clientele. This short blog entry will give a high-level look at what’s needed to do a good job at running a car dealership, including marketing, markup, and everything else. Let’s dive in.
Marketing
Marketing your dealership is among the most important parts of being successful. Your dealership advertising comes in two types – digital or print. Digital marketing comprises SEO (Search Engine Optimization), social media campaigns, email blasts, and other similar activities, while print marketing constitutes flyers and leaflets, newspaper ads, radio spots and alike. It is advisable that you utilize both digital and print marketing strategies in order to target as many people as possible.
SEO implementation on your site can increase traffic and provide more web presence. Social media campaigns are also a vital part – set up pages on social media platforms such as Facebook and Instagram where you could share details of the new cars you have in stock or future deals/specials that you will be offering. Flyers and leaflets are best for local marketing; they serve as physical triggers customers can take or hang around town.
Consider Your Markup
With regard to running a profitable car dealership, consideration should be given to your markup when pricing cars for sale. The right margin could be the one and only factor of turning a profit or taking a loss on each vehicle sold. Do a market study in advance, what other dealerships are billing for the same vehicle, that will give you a hint of where to start with your own price points. Moreover, try to provide some specials or discounts on some models as this will help to bring more buyers who are looking to get a good deal with their next car purchase.
Offer Extras
Ultimately, you may also provide additional services relating to maintenance and repairs to lure in more customers to your premises. Some people do not only want any car but also regular maintenance as part of their buying package. Providing extras such as servicing not only contributes to the value that the customer gets but also ensures that the potential buyers will keep coming again and again when they need some maintenance and repair for their vehicle(s).
Operating a profitable car dealership is not a walk in the park, but with a proper plan in place, it could be accomplished. Consider using both digital and print marketing tactics to cover as many potential customers as possible, use SEO on your website, create social media accounts to share information with customers, distribute flyers around the area, be very careful in setting mark ups when pricing vehicles and offer extras such as servicing for after sales maintenance and repairs to add value to the customer experience. Considering all these aspects, you’re on the right way to the profitable car dealership.
