Inventory may be hard to come by these days, but it can also be hard to get rid of. Depending on the unique intricacies of your market, we know there are certain models you can’t seem to stock enough of and others that tend to overstay their welcome on your lot. If the latter is the case, take advantage of one of the most simple and straightforward solutions – test drive incentives. Use higher value test drive offers on the specific vehicle details pages (VDPs) of the models in your inventory that may need a little help. If you know you have a high defection rate tied to a specific new car model, you can incentivize customers who land on those VDPs or submit a lead for that model with a greater value incentive, say a private offer for $50-$100 when they come in for a test drive. Target and boost any model that may be underperforming.
The same logic can be applied to your used and CPO inventory. Offer higher value incentives only on stubborn or aging inventory you can’t seem to move. A great example of how this can be executed came from Jim Burke Automotive Group on a 2016 Subaru Impreza.
“We needed to move the Impreza ASAP and we were able to accomplish this utilizing AutoHook’s Web2Show solution via our Dealer.com website. We did an increased, targeted offer for the Impreza’s stock number only of $100 for a test drive and sold the vehicle in just 4 days. We are thrilled with the quick turnaround of this specific vehicle targeting campaign and will definitely continue to use AutoHook’s solutions in the future.”
– Gordon Gibbs, President, Jim Burke Automotive Group
Originally posted on Drive AutoHook website.