David Long and the All Things Used Cars community picked up where they left off and got into buy center best practices. We assume by this point, you know how vital a buy center is for future-proofing your business.
Listen to last week's episode on Clubhouse for the full conversation and Jonathan Smoke's quarterly economic rundown. Let's get into the notes!
Hire buyers. Give somebody with no automotive history a process and role clarity and watch them take to and own the buy center work. Go get the people you need, even if they are not already employed by your dealership.
Buying is not selling. This configuration of the last point comes up over and over again. You cannot operate a buy center between being a sales team.
Make offers. Be on the offensive. Do not be defined or confined by the market. Define and create the market by making and sticking to a process that removes the emotions (gut-feelings) from your used car acquisition strategy.
Create and maintain a positive culture. Everybody has to understand the buy center is an essential part of the business. It isn't a bolt-on and the people who work within it are part of the team.
You gotta be online. Creating an online presence specific to your buy center will capture attention and potential favor as people shop for the best price and experience.
"Would you open a new business and NOT have a social media presence?" -David Long
Operators following the things discussed over the last two weeks are buying hundreds of cars a month directly from the community. Treating used car acquisition as a necessary and separate mission within the dealership is work. Nobody said once it was easy. Still, the work builds a stronger relationship with the people in your community and resilience to the changing market.
TL; DR - Tesla says their Chinese sales are aok, and you should mind your business. Carvana should mind its business, but, like, in a ‘get things in order’ kinda way, and the used car business is seeing an influx of exotic cars as Crypto investors face a time “between prosperity.”