Combining Data Points to Build an Inventory Marketing Strategy
Powersports dealerships have access to more information now than ever before. We have incredibly detailed reports that can be reviewed, data that can be downloaded – often at no cost. Much of our marketing budgets include advertising through online listing services, search engine marketing, social media marketing as well as our own CRM data. Many of these services provide sophisticated market analysis. Many times this is linked directly with our inventory so we can directly view inventory performance. We can see geographic performance, ad performance – at a granular level that would have been unthinkable 10 or even 5 years ago.
Many dealerships never use this advantage.
The good news is, this means that those of us who do utilize these assets are able to reach more people, market more inventory, and do it all much cheaper than our competitors. This is the most important point I am making with this article – its all about reducing cost and working smarter.
Some of these concepts will be specific to the software platforms I currently use, but I hope that you will find them useful no matter what systems you have in place. Over time I have worked with a variety of software vendors, but most of the core goals have always remained the same. Work faster, do more with less money, know your ROI.
For the record, as of this writing I am using the following:
Not all of these are necessary, and there are lots of alternatives out there that have similar capabilities. The main thing to remember is to use the reporting and data features of whatever tools you have to develop a concise picture of your market, and to track where every dollar of your budgeted spend and truly know what you are getting for the money.