Accelerating Sales Turn in 2024: Leveraging VIN IQ for Increased New Car Inventory
As we approach 2024, automotive dealerships are facing new challenges and opportunities. New car inventory is on the rise, presenting fresh challenges and ambitious sales goals set by their OEMs. Meeting these targets, including specific sales quotas for flagship models often referred to as "Core Models," requires dealerships to navigate the ever-changing landscape of automotive sales with precision and strategy. This is where VIN IQ steps in as a game-changer for dealerships.
Increasing Targeted Vehicle Details Page (VDP) Views for Sales Acceleration
With VIN IQ's groundbreaking vehicle-level marketing analytics, dealers gain unprecedented insights into the number of Vehicle Details Page (VDP) views each vehicle in their inventory receives across all marketing channels, including Facebook, Google, Bing, and more.
With industry data showing that an increase in VDP views is a strong indicator that a vehicle is about to sell and leave inventory, dealers can impact their sales turn rate by increasing targeted VDP views on vehicles that need it. The powerful combination of marketing analytics and integration capabilities with major ad platforms empower dealers to promote vehicles in need of exposure, leading to a significant boost in their sales turn rate.
Efficiently Meeting and Exceeding OEM Model Sales Goals
In 2024, optimizing marketing budgets is another critical aspect of dealership success. Marketing can be a substantial expense, and inefficient spending can deteriorate profits. VIN IQ provides a solution to this challenge.
Dealerships often grapple with marketing similar new vehicle models, resulting in a sea of similar or even identical vehicle ads. This inefficient use of marketing dollars can be a drain on resources. VIN IQ's campaigns are designed to intelligently eliminate redundancies by promoting only a limited number of similar new vehicle model ads. This ensures that marketing budgets are distributed more evenly across all models, maximizing their impact.
But that's not all. VIN IQ's targeted marketing extends to model-specific campaigns. This capability proves invaluable when dealerships find themselves lagging in sales for a particular model needed to meet their OEM quotas. Instead of scattering marketing efforts, dealerships can concentrate on the model requiring attention, boosting its visibility and driving sales.
VIN IQ: Your Dealership’s Marketing Partner for Success in 2024
In the competitive world of automotive sales, success hinges not only on hitting sales quotas but on achieving marketing spend efficiency along the way. VIN IQ empowers dealerships to meet and exceed their OEM model sales goals with confidence, while maximizing profits.
Are you ready to supercharge your dealership's success in 2024? Get your dealership’s free Marketing Analysis and hit the ground running next year.
