I’ve been working in the pre-owned automotive space for quite some time. While providing marketing services for the dealerships, I’m constantly amazed at how quickly the space is evolving and how most owners aren’t ready for that evolution. Pre-owned dealerships have had it easy all these years and in that respect they are a lot like the music industry of the 90’s. They’re used to the business being as its always been and not expecting the change that’s been happening in the background.
In the 90’s, the music industry was business as normal. Meanwhile, Napster paved the way for peer2peer transmissions allowing users to share music from one person to another. Almost overnight, the music industry business model was forced to change. Streaming became the norm and CD’s and storefronts went the way of the dinosaur. Well… in a lot of ways, ready or not, that’s how the dealership model is now evolving to.
Today’s buyers have also evolved. The internet has gotten easier to use and also its more easily accessible now as a result of tablets and smartphones. As a result, its made the buyers smarter. No longer are they driving out to the dealership to kick tires. By the time they approach the dealership, they have already seen 3 to 5 same type of vehicles they are looking for. They’ve read the reviews. They are clued in to what the car should be sold for. They are informed buyers … and the pre-owned dealership isn’t ready for that and most likely didn’t see it coming.
So now the dealership has 2 options. 1. Go the way of the dinosaur. 2. Evolve. And this is where the power of marketing comes in. Now its time to bring the dealership to the future. Push the evolution of science and marketing for the location and show them the importance of pricing, location, and buyer interest .
GetFoxedUp provides dealership marketing services for the pre-owned industry as well as Franchise Dealers. Let’s grab coffee. Let’s talk. Let’s evolve.