Time is ticking on 2024, with less than five weeks to go. With customer confidence growing, high inventory, the best OEM programs, and the lowest pre-owned prices, this December is arguably the most critical month of 2024. But it’s up to you, the salesperson or dealership owner, to increase car sales. With these quick tips from Lotlinx, let’s give buyers an overflow of reasons to visit your showroom this holiday season.
10 Easy Ways To Wrap Up the Sales Year
1. Holiday Incentives
Holiday sales strategies for dealerships should always include special incentives to attract buyers. You have the largest inventory and strongest incentives in years, which will drive shoppers to your showroom. Give incentives like dealership cash, loyalty, rebates, special leases, and financing offers.
According to recent data, incentive spending has increased to 7.7% of the average transaction price in October 2024, up from 7.3% in September. Offering holiday discounts, low-interest financing, and extended warranties can entice customers to make a purchase.
2. Inventory Management
Effective inventory management is the gift that keeps on giving during the holidays. With 25% of showroom inventory now consisting of MY25 vehicles, it’s important to balance the clearance of older models with the promotion of new arrivals using a strong inventory management platform like Lotlinx Sentinel, which has helped dealers sell cars 7-10 days faster with an accurate prediction of sale to +- 3/5 days. Instill urgency by reminding customers that waiting could mean missing out on the best inventory, and use data analytics to predict consumer demand and adjust your inventory accordingly.
3. Fortifying Your Online Presence
Having a strong digital presence is important because, with more consumers shopping and doing research online, your website and social media channels will be the first touchpoint they make before entering your store and will ultimately increase car sales during the holidays. Invest in a user-friendly website, optimize for mobile devices, and post regularly via a social calendar to reach potential buyers. Get them excited to visit because nobody buys from a Grinch.
4. Targeted Marketing Campaigns
Tailor your automotive holiday marketing efforts to the holiday season. Show car dealership holiday promotions, special events, and exclusive offers. Use customer data to create personalized marketing messages that resonate with your target audience. Encourage festive spirit with holiday music to make people happy and more inclined to spend money. Don’t forget to revisit Lotlinx’s car dealership marketing ideas in our recent blog!
5. Seasonal Promotions
Seasonal promotions can create a sense of urgency and drive sales. Think about offering limited-time end-of-year car deals, holiday bundles, and loyalty rewards. Talk about the advantageous rates due to manufacturer subsidies and even 0% offers on some models. These promotions can help attract budget-conscious buyers.
6. Upgrading the Customer Experience
Providing an exceptional customer experience can set your dealership apart. Train your staff to be knowledgeable, friendly, and responsive. Offer amenities like complimentary refreshments, comfortable waiting areas, and shuttle services to enhance the overall experience. Your customers’ current vehicles might be worth more this season, so bring this up every time. Focusing on inventory, rates, and trade-ins while being friendly and curious can drive traffic and maximize profits.
7. More Financing Options
Offering flexible financing options can make it easier for customers to purchase a vehicle. Partner with local banks or credit unions to provide competitive loan rates. According to Lotlinx Vincensus data, U.S. auto sales are forecast to reach 15.9 million units for the full year 2024. Showing the potential benefits of current financing offers can help capture a larger share of this market.
8. Data Analytics
Data analytics can provide valuable insights into customer behavior, market trends, and sales performance. Use this data to make informed decisions about inventory, pricing, and marketing strategies. Pay attention to the market month-by-month and gain high-level insights from Lotlinx Vincensus to stay ahead of the competition and maximize profitability. Our platform scans over 24 billion points of data!
9. Community Engagement
Building strong relationships with the local community can drive sales and foster loyalty. Participate in local events, sponsor community activities, and support local charities. This can boost your dealership’s reputation and attract customers who value community involvement.
10. Remember To Prepare For Post-Holiday Sales!
Don’t forget to plan for the post-holiday period. While sales may slow down, there are still opportunities to capture customers looking for deals after the holiday rush. Offer post-holiday promotions and continue to engage with customers through follow-up communications.
More Resources From Lotlinx
A successful sales strategy extends beyond selling cars; it focuses on building lasting customer relationships. Engage with your local community and create a welcoming, festive environment to keep your dealership memorable all year, not just during the holidays. Check out the links below to revisit or catch the articles you missed!
- Inventory Is Back, but It’s a Rocky Road to Profitability
- Active vs. Passive Buyers: Using Data to Maximize Your Dealership’s Reach
Contact us for more information on our data-driven products, and stay tuned for more tips. Happy holidays!