Last week’s All Things Used Cars gave us plenty to consider when building a successful acquisition strategy. Here are just some of the thoughtful questions that were posed:
Trade Process Perfection:
❓What is your trade process and have you perfected it?
❓Are you measuring by person, by manager, and by department how many site-unseen/seen appraisals actually make it to the dealership?
❓Do you have a follow-up process if a customer decides that they want to purchase a car from your dealership, but keep their old car? What are other opportunities like this that you may be missing in you acquisition strategy?
Owner-based Acquisition:
❓How are you measuring it?
❓Do you have way to outreach to your customers that let’s them know on a constant basis that you’re the best end-user for this vehicle?
❓How are you innovating ways to entice car owners to trade with you?
Optimize Service Drives/Collision Centers:
❓Do you have a prior-day service appointment process that lets a customer know before they drop off their car that you want to give them a valuation to help them identify what their car is worth relative to either what they owe, or to what the market indicates?
❓Do you have a partnership with your local collision centers, maybe ones you already do business with reconditioning your cars? Do you have a process with them to offer customers evaluations prior to work being done?
Snack on more acquisition food-for-thought by checking out the full replay here.