Every dealership is interested in uncovering new sales opportunities, whether you’ve been affected by the ongoing car chip shortage or are managing a constantly changing new car inventory. Did you know that your best sales opportunities might be your current customers?

To take advantage of these ideal sales customers, you need a smart, data-driven sales strategy to help you uncover those with positive vehicle equity so you can target them with personalized vehicle trade-in offers—leading to more new car sales as well as higher-quality pre-owned inventory for your store.

Here are a few ways to find those current sales and service customers with great vehicle trade-in values, develop your trade-in sales strategy, and close more deals.

Capture More Sales Opportunities by Leveraging Customers’ Vehicle Equity

Pinpoint Customers Most Likely to Trade-In or Repurchase

When you scroll through your DMS or glance at the service appointments, how can you know which customers are potentially ready to trade up to a new lease or loan? With advanced AI-based analytics, you can instantly find your best sales opportunities with prime trade-in values of vehicles.

Some technology even enables you to harness the power of trade-in prediction scoring of your customers, so you know exactly who is most likely to upgrade and can direct your sales efforts to your best leads.

Warm Your Best Leads with Personalized, Automated Marketing

If some of your potential sales opportunities haven’t been in to your showroom or service lane lately, you can still spark their interest with eye-catching marketing featuring their personalized trade-in offer. When you know who to engage, present them with customized, single-sheet equity analyses with data based on your DMS, Black Book®, and Edmunds® to really grab their attention.

It’s also ideal to develop a customer communication strategy that will offer you the ability to send automated email quotes to those current vehicle owners who don’t have service appointments scheduled, customers who only visit for service, etc. That way you can spend more time guiding customers closer to the sale, and less time seeking out those most likely to upgrade.

Deliver Enticing Equity Presentations for More Showroom Traffic

What makes your vehicle equity presentation stand out? There are a few key items to include on your vehicle trade-in handouts:

• A side-by-side contrast of the customer’s current vehicle and payment (or estimated payment) information along with their potential new vehicle with estimated lease and loan payments
• A clear offer expiration date to increase urgency
• The salesperson’s contact information, dealership hours, and other details your customers need to take advantage of the offer
  

Improve the Customer Experience with Their Own Portal

Your sales and service customers receive a variety of emails and print pieces every day. Help ensure yours are top-of-mind by putting them in control of their vehicle trade-in.

When they receive their personalized upgrade offer from your store in their inbox or mailbox, direct them to their own online portal where they can further explore their offer. Enabling them to swap inventory, adjust potential payments, or contact their salesperson regarding their offer will help ensure they choose your dealership when they’re ready to upgrade.

Provide Precise Vehicle Trade-In Offers with Predictive Technology

Some of your next lease and finance customers are waiting in your service lane or driving quality low-mileage vehicles wondering what the current trade-in value might be. With AI-powered predictive technology, targeted marketing, and accurate vehicle trade-up offers, you can capture more sales opportunities while boosting your used car inventory.

To see a live demo of our advanced equity mining solution, contact us today!