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Is your team putting into practice what we all know to be true?


Our dealer clients spend hours on inventory acquisitions. They are bidding on units at the auction, trading for a unit, searching in the service lane, or buying from private listings, trying to get these units at the best price possible on the right vehicle in this market. That is only ½ the battle. The clock starts ticking from the day. 

 

Next, we focus on the Recon (Reconditioning) and Merchandising processes, which are crucial for your dealership's success. Here are some key strategies to improve our LotReady percentages and turns for both areas. We know these processes and points, but are we reviewing and managing them regularly? 

 

Recon (Reconditioning) Process:

1.    Efficiency Improvement:

  • Streamline the reconditioning workflow to reduce the time it takes to get vehicles from acquisition to lot-ready.

  • Identify bottlenecks in the process and implement solutions to enhance efficiency.

2.    Technology Integration:

·      Invest in technology tools and software that can automate parts of the recon process.

·      Use digital platforms for communication and collaboration among team members involved in reconditioning.

3.    Real-Time Tracking:

·      Implement systems that allow real-time tracking of vehicles in the reconditioning pipeline.

·      This helps identify delays or issues early on, allowing for quick resolution.

4.    Vendor Management:

·      Develop strong relationships with vendors for sublet work.

·      Negotiate competitive pricing and ensure timely completion of work.

5.    Quality Control:

·      Establish rigorous quality control measures to ensure vehicles meet high standards before being listed.

·      Conduct thorough inspections and address any issues promptly.

 

Merchandising Process:

1.    Photography and Videography Standards:

·      Set clear standards for the quality of photos and videos taken for vehicle listings. Number of pictures and order.

·      Make sure the vehicle is clean and trash-free. 

·      Do a walk around on pictures showing the options and features.

2.    Compelling Descriptions:

·      Write compelling and informative vehicle descriptions.

·      Highlight unique features, benefits, and what makes this vehicle stand out.

·      Detail a "Why buy here list," focusing on items unique to your dealership, such as initial oil changes or lifetime powertrain warranties.

 

3.    Consistent Branding Across Platforms:

·      Maintain consistent branding across all online platforms, including your website, social media, and third-party listings.

·      Ensure that your dealership's unique selling proposition communicates effectively.

4.    SEO Optimization:

·      Optimize vehicle listings for search engines to increase visibility.

·      Use relevant keywords and meta tags to improve the chances of appearing in online searches.

5.    Interactive Features:

·      Implement interactive features on your website, such as virtual tours, live chat, and easy scheduling of test drives.

·      Engage potential buyers and make it convenient for them to explore your inventory.

 

By focusing on these strategies in both the Recon and Merchandising processes, you can enhance operational efficiency, improve the online presentation of your vehicles, and ultimately drive better results for your dealership. Inspect these processes and review the descriptions and pictures. 


-Pam Humphrey

Performance Engineer

Lotpop Inc.

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Guest
Jan 30
Rated 3 out of 5 stars.

Imformative but pretty common sense. Give me something new.

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