Converting interest in your stock into sales is, obviously, the focus of any retail business, and the automotive industry is no exception. Luckily, there are a few tried and tested ways to maximise your conversions – from general tips to digital must-knows to winning mindsets. Here are our top tips for converting sales.
When you are introducing your stock to an online audience, you want to make sure you are presenting it in the best possible light to help entice more customers. That doesn’t just mean general overview shots of the car; you want to have high-quality images from every angle, so the customer gets a comprehensive view of the vehicle as they would in person.
At Central Car Auctions, we use a cutting-edge DeGould photography booth that produces 21 high-quality images of every vehicle from 360 degrees, so you’ll have a ready-to-go collection of top-class images of your stock from the get-go.
Limiting your stock limits your potential customers. The automotive industry has a wide and varied selection of manufacturers and models to choose from, so make sure you are making the most of this and offering customers a range of potential vehicles to suit every taste and need. We’re not saying that you should have every possible type of vehicle, but make sure that you are able to offer every customer a few options that fit their search criteria.
To make sure that your forecourts are filled with high-quality and varied stock, check out Central Car Auction’s online and in-person auctions. We sell thousands of vehicles every week which are all NAMA graded, so you know exactly the quality of the stock you’re bidding on - view the full range of stock here.
One way to make your stock stand out to potential customers is through effective pricing. Get to know what your stock is worth, what your competitors are offering, and who your target audience is and what they are willing to pay.
Being in touch with your local community and your customer base will give you an inside track when it comes to understanding what they are looking for and what they will be willing to pay, and this kind of knowledge is a crucial way to get ahead of competitors who may be forced to use a more generic pricing structure.
On top of this, Central Car Auction provides an Autotrader retail value figure on every vehicle, giving you a good idea of what people are asking for, and paying for, your vehicle, letting you make an informed decision on how much you want to sell your stock for.
In every forecourt, space is limited, so you don’t want to have that space taken up by stock that won’t shift. It’s quite the mental challenge knowing when to cut your losses and accept that some stock simply doesn’t suit your customer base, but it’s vital to keep a good flow of vehicles moving through your forecourt to ensure you are capitalising on every sale opportunity.
A good way around this is to set yourself some deadlines – give your stock a set amount of time to sell, and if it doesn’t, you sell it on. Luckily, if you find yourself with stock that’s been sitting for over 90 days, you can always sell it through Central Car Auctions, freeing up space in your forecourt and cash, allowing you to get some fresh vehicles in.
Our last tip is more a state of mind rather than anything you do physically.
However, it is very important to remember that, even if the vehicle itself has been previously loved, it will be brand-new for that household.
Getting a new car is an exciting event! And more often than not, that household will be proud of their new addition to the family. Make sure that you convey this excitement at every stage of the process – from when you first introduce the customer to the car to any follow-up calls and aftersales.
Make sure you play an active and engaged role in the entire car-buying experience. This will help to build strong and long-lasting relationships with your customers, making it far more likely that they will return when it comes to buying their next car.