Top 5 Ways to Acquire More Inventory for your Dealership

April 26, 2022

Inventory. Yeah, yeah, yeah. You are probably tired of hearing all about the volatile market we are currently in. But here is the thing: Just because there is a shortage doesn’t mean you have to suffer. The vehicles are out there just waiting for you and your team to scoop them up. Easier said than done, sure. However, it is not impossible. You’re probably wondering what secret MAX Digital has that you don’t know about yet. Hint: We will get there shortly. But if you are impatient and want to find out now, go ahead and schedule a consultation today! Otherwise, without further adieu, let’s break down the different ways your dealership can be acquiring more inventory right now.

5. Source From Consumers By Meeting Them in the Middle

One of the best places to source more used car inventory is from the consumer. This is an untapped market where vehicles are simply waiting to be purchased. However, you need to approach this area carefully. You see, every consumer is unique. And with that comes the need for a personalized experience. Would-be sellers are a mixture of feelings and opportunities. There are key emotional moments that exist where a consumer will be looking to sell a dealership their vehicle without wanting to trade in for another. It’s important that you understand these life-changing moments and are available to connect with consumers to create bridges to minimize the friction between them wanting to unload their vehicle and turn it into a valuable piece of inventory for your lot.

4. Have Your Service Lane Tee You Up

You have cars coming in through your service lane every day, but what are you doing to engage with consumers to mobilize their cars for your gain? It doesn’t matter if someone is bringing in their vehicle for an oil change or some bodywork. This transaction provides an opportunity for you to engage with the customer and inquire about their interest in selling their car. Interact with consumers and ask them questions about their situation. Provide options and opportunities that encourage them to sell you their vehicle. From there, you can transition the conversation into upgrading to something new.

3. Empower Your Team to Play on Both Sides of the Ball

Your team is a valuable asset to your dealership. So, give them the skills to engage with customers to create conversations that encourage moments for talks to sell vehicles. Any time someone comes onto your lot, it is a chance to source their vehicles for your own gain. Provide talking points that convince consumers to consider selling their cars. To accomplish this, your staff needs to be as knowledgeable as possible about inventory in order to deliver potential options for them to unload their vehicle. Educate everyone on your lot to be as prepared as possible to handle conversations that lead to more acquisitions. Leverage technology to create a team of savvy salespeople who are capable of acquiring and selling.

2. Leverage Your Brand to Amplify Your Message

People already know your brand. So, to be successful, you need to leverage different marketing techniques to get your message out to the community. Expand your circle of influence by pushing out touchpoints for consumers to interact with your dealership. When you amplify your message, you’ll cast a wider net to attract possible customers. Don’t shy away from social media or Google. Instead, mobilize your efforts to reach out to interested parties in a concerted effort that starts conversations about selling off inventory. Create educational resources that teach the consumer the benefits of selling. Offer them opportunities to learn more about your dealership and what you can provide them. Take your marketing to the next level and establish your brand as a trustworthy place to do business.

1. Make a Visit to the Dealership Fun

A trip to the dealership doesn’t have to be a drag. Consumers have what you want. Now, it is just a matter of motivating them to come to your lot. If you want to acquire inventory, start by examining your process. Focus on customer experience and provide consumers with an entertaining way to sell their vehicle. A live appraisal event allows sellers to get the most for their car. You can have inspectors on hand that will instantly check a vehicle out, then put it on a digital auction platform where bidders from all over can bid to purchase the car. At the end of the auction, the seller gets to decide if they want to move forward with the deal. You can make a live appraisal event a big deal. Bring in food trucks, have live music…anything to make a visit to your dealership a memorable one.

All in all, there are plenty of ways for you to attract more consumers, maximize interactions, and amplify your message to secure more inventory. The used car market will always face disruptions. But that doesn’t mean you need to become a victim. Automotive dealers are very resilient, however, success requires a plan. Now is the time to get creative. Acquiring vehicles is a priority for your dealership…you don’t need to be told that. Boost your ability to offer more inventory than your competition. What’s more, with MAX Digital, you can dig into the data and uncover insights as to what kinds of cars sell best from your lot. Your dealership will become a beacon of opportunity for consumers near and far.

Partnering with MAX Digital is simple. With advanced solutions for inventory management and merchandising, your dealership becomes a leveled-up selling machine. You’ll be leaps and bounds above the other stores in your area. Ready to discover more? Schedule a consultation today!