You can't sell what you cannot see. Car inventory management software has helped many dealerships improve everything from sales processes to customer experience, preserving margins even as it drives sales. Soon, CarCasm will be introducing Inventory Monitor, our own approach to car inventory software. Here's what you need to know.
So, what will Inventory Monitor do for your car dealership? When our car inventory software goes live, you'll be able to:
So what's in this for you?
Car price research is the backbone of many customers' pre-visit activity. A quick visit to the manufacturer's site gets them the spec, trim, and option information they need, but once that information is in hand there's a lot of time spent bouncing from one dealership site to the next, comparing prices and incentives.
Of course, that cuts both ways; dealerships are also trying to get competitive pricing for their inventory, and it's hard meeting your minimums if you have unsold, low-demand, inventory taking up space. Knowing what's in demand can help you cut prices to move vehicles that would otherwise sit on your lot, depreciating by the day.
Of course, it's not just your OEM inventory that needs management. Used cars are popular in times of economic uncertainty, especially with a glut of vehicles purchased at rock-bottom prices, or coming off lease. They are many dealerships' lifeline; while they don't look like much in terms of gross sales, their higher margins and lower cost of acquisition can make them a strong profit center vis-a-vis OEM models. Getting everything right — from reconditioning to pricing — can feel like a high-wire act, but having a window on past sales trends and demand can help you keep things moving.
Product turnover can be a matter of delicate timing. A vehicle that's been popular in recent years but that won't be getting a significant update for a new model year may see less sell-through. A car that's supposed to be the next big thing could amount to a damp squib, while a vehicle that gets a significant facelift or important upgrades to safety or horsepower could have consumers taking a second look. Understanding the trends behind car sales helps you have exactly what your customers need, right when they want it. That builds strong customer loyalty.
Your dealership marketing benefits from inventory management as well. Whether you're moving old stock during the transition between model years, writing reviews and comparisons of key models, or simply getting the most out of your ad retargeting efforts, inventory management and the metrics it gathers help you be more precise while wasting less time.
The benefits listed above are just the tip of the iceberg. If you're curious what dealership inventory management software can do for you, call us for a consultation. After all, when your customers need answers — whether their questions are about their infotainment system, tow packages, or the odd noise coming from under the hood — you want your dealership to be the one they turn to. But when you need answers to your urgent dealership marketing needs, we invite you to do what a growing number of dealerships are doing: turn to CarCasm and see how we can help you.