Right now, inventory is difficult to come by. Used cars are scarce and dealers are paying thousands over market value simply to have vehicles on their lots to sell. When it comes to new vehicle inventory the situation is even more dire. Many dealers’ lots have low new inventory because of chip shortages or transportation times. A recent article by Forbes is an interesting read on the subject.
Some dealers are doing their best to fight the odds and push through this situation by pre-selling vehicles that have not yet arrived on their lot.
However, there are unique challenges when trying to sell a “phantom vehicle.” That intangible and invisible new car that a consumer cannot see, feel, or touch. In addition, many consumers don’t necessarily want to wait 2-3+ months for that invisible car. And that’s where video comes in.
When a customer submits a lead, calls, or comes into your showroom inquiring about a new vehicle that you don’t have -- put your salesperson hat on. It’s typically quite simple to see what vehicles are on the way (and how they are equipped), and your allocated vehicles not yet built out; as well as what is already on your lot. Rather than turn a customer away because you don’t have a vehicle for them, why not use the inventory you do have to sell them on the fact they can build their “dream car?” Show them an existing vehicle to help sell them on all the options and features they could have with the assurance that they can order the vehicle exactly how they want it.
And, if that customer is not in the showroom, through the power of video you can easily create a video of a used (or new) model vehicle that you DO have in your current inventory. Take a personalized walkaround video of the vehicle on your lot and explain that, while you don’t have a new one for them to buy, you can offer them the unique opportunity to order one that is incoming exactly how they want it. In other words, they can build their dream car! The customer will still qualify for all of the incentives, rebates, and subvented interest rates from the factory when the vehicle does arrive, so you can also use that within your sales toolbox when shooting your video. While you are at it you can also go over the many features of the existing vehicle and its great value. You never know, they might even like the one that you just did a walk around on and want to buy it.
Right now, it pays to be creative and use methods and sales techniques that engage customers and help you sell what you do have. Video is one of the best tools you have to do just that. You can transfer more information and inspire more emotion via video than any other media. Use video to tell a story about how a customer can own their dream car and you could very easily find that, when new vehicles do arrive, they are already sold. Or, through the power of video, you could end up selling the vehicle from the walkaround! And that’s a good thing.
The bottom line is, it is more important than ever to incorporate the use of video throughout your entire sales and marketing strategy. Try it, it works.