As new car sales continue to rise, dealerships are faced with an important choice: sit back and enjoy the ride, or take the proactive steps necessary to make sure you’re on top of the wave—and still sailing smoothly when it comes crashing down.
Any dealership who thinks a rising tide lifts all boats equally—that the big explanation behind this summer’s hot car sales is simple, broad-based economic growth that’s given more people more money to buy cars with—is setting itself up for a major setback at the next hint of an economic slowdown.
Considering those come along for at least a few quarters every decade or so, and that we’re already more than seven years after the depths of the last recession in 2008 (yes, it really has been that long), maybe it’s time to look at the other factors responsible for growing auto sales. Every dealership operates in the same overarching economic environment, but the ones who take their future into their own hands are the ones who really make a success of things.
The assumption that our growing economy has given people more money and/or credit to put towards purchasing vehicles is actually somewhat suspect for most in the middle-class, and especially for the millennials who are making up an ever-more-significant proportion of car buyers. Many car buyers actually have less purchasing power than their counterparts of a decade or more ago, yet car sales continue to climb, and younger buyers are overtaking mid-career professionals.
So what’s actually driving the increase in sales? We think it’s the increased availability of information, the increased consumer power this provides, and the increased opportunities for dealerships to engage in effective outreach, targeting consumers at specific points of the purchasing cycle with the right materials and the right messaging.
This means equipping your site, your social media, and your other outreach efforts with easy-to-access information delivered via a media-rich platform that attracts, engages, and converts your audience to paying customers. It means giving your customers a reason to shop on your site—and eventually end up on your lot—without even being tempted by your competitors.
It means being there when they’re looking, showing up first in their search, and giving them the friendly informative service they want from your very first interaction.
And the right videos can make it happen.
Don’t just ride out the minor economic boom and wait for your competitors to trample over you in the next downturn. Take steps now to cement yourself among your target consumers as the dealership with the knowledge, the service, and the accessibility that today’s car buyers demand. Partner with Dealer Video Showroom and you’ll have access to extensive, easily-navigable, fast-loading videos on every single make and model of car manufactured and sold in the US since 2008.
That’s everything your customers are looking for and then some, and you hardly have to lift a finger. Are you ready to take your dealership into the future?