Hisham Tabet

Sink or Swim in the Automotive Industry

Archive for the tag “old inventory”

Rotten inventory?

Every car dealership goes through this phase; lot-rot problems can be difficult to solve. This could be a result from various reasons: paying too much for a certain car, purchasing the car with the wrong (missing) desired options, perhaps the ugliest color combination ever made, etc… So what can you do, how can you engage with your audience correctly and help bring a refreshed breath into your lot?

As many may suggest – short sale it!! No. That is not the way to go. Every car holds its value well, it takes you from point A to point B with virtually no headaches (that is why you chose to feature this car on your lot in the first place, right?) Well,¬†OK… I am sorry about that. Anyways, lets focus back on how to market this vehicle correctly. First;y, you are now dedicated for the next week or two to solely concentrate your market research and advertising on this specific vehicle(s). What are the main characteristics – 4×4 for areas like Reno, Tahoe or is it a gas saver two wheel drive perfect to market in the Bay area? Let us assume it is a fast, stylish sports car. You are having a tough time selling this baby in the Reno area. No problem. You run your ad campaign in Arizona, Last Vegas, and Southern California. If this is an ultimate hard to find/sell vehicle, then investing a few extra dollars will ensure finding a closing deal for your dilemma. By running a concentrated ad campaign on eBay Motors, Craigslist, or other socially embedded businesses will help expose this specific vehicle to a broader audience correctly.

Smart ad running campaigns requires a lot of study and research. You cannot simply take the plunge into that area without laying out the pros and cons. As with everything related to social media, it cannot be carried out recklessly. Believe it or not, your website and business can be wiped off the top search listings if you think that algorithm does not punish the wrongdoers!

image credit: Everything About Cars.

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