Tomera Rodgers on August 5 2021

How to Make Your Dealership Stand Out From the Crowd

The start of 2021 saw unprecedented used vehicle price increases. In addition, retailers were faced with other incredible challenges. Many of them could not overcome the hurdles but others were set up for success with digital tools and other online assets, prior to the pandemic. It’s worth looking at how some vehicle retailers were able to rise above the rest to not only sustainable profitability but also grow with access to global data and customers.

 

The pandemic only created greater challenges as seen in 2020. At the beginning of 2021, used car sales took an unavoidable major hit in terms of high selling prices among other things. Many dealerships have had to work extra hard to sustain their operations in light of social restrictions and production issues. Internal operational strategies and workflows had to be revised in order to meet the new challenges. More importantly, vehicle retailers needed more information and better understanding around stock, resale value, market trends and customer experience.

No matter the economic state of the nation, there has been a greater need for cars as many want to avoid using public transportation. Since the pandemic restricted showroom access, digital sales capability needed to be implemented on top of the traditional challenges. In order to stay ahead of the competition, dealerships must be unique and stand out from the sea of competitors. To do this, they need to be able to access a complete 360 view of individual cars and their history. Fortunately, the digital age presents many options and tools for increasing sales and understanding consumer behaviour while managing stock at fair prices. 

When retailers are able to master and utilize vital information such as industry knowledge, technology updates and other valuable data, they can understand individual buyers as well as their own stock more clearly. Enhancing knowledge of the current car sales environment and competitors can help map better strategies, provide a better customer experience and reach more buyers in a trusted way. Additionally, they can sell and increase car prices fairly which means they keep the customers they have while gaining more. 

Today, consumers around the world use the internet to do everything from watching movies and socialising to buying property and vehicles. On the flip side, dealerships now have the ability to do a tremendous amount of research on how purchases are made with the touch of a button. They can view trending market prices as well as the history of the vehicle.

We are surrounded by technology that can help us promote to the masses. However, there are so many options and combinations that could actually be destructive to any business. Finding the right way to stand out from other dealerships requires facts and statistics to present trustworthiness. The absolute best way of displaying this is with the use of clear and concise data. Insights that are not manipulated but produced in real-time as and when the information changes can illustrate integrity and transparency while improving sales and stock overage challenges.

There is tech readily available which can aid in the search, but archaically searching through social conversation and other content is time consuming and inefficient. By the time dealerships have a clear understanding of the car buying landscape, the information would have changed several times. 

For dealerships to see the full picture of how and why a vehicle sells, they must be able to clearly understand its individuality. Current valuation methodologies overlook unique differences resulting in lost profit opportunities, stagnated stock and low dealership performance. Many retailers may not be aware of available digital tools that can offer a total positive transformation for their business. Cazana’s ebook, Automotive Retail in a Digital World, is a detailed look at how digitizing a dealership business can create greater profitability and reduce stock overages. 

When dealerships are armed with complete information about a vehicle, they can then strategize marketing efforts and inventory control in an intelligent way. More importantly, they will project integrity and transparency to potential buyers. This then creates a natural way of growing profits and a loyal customer base. Dealerships will be able to sustain just about any economic struggle and stand out from the crowd if they know how, when and why vehicles sell. 

This is where Cazana can help dealerships See the Full Picture.

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Cazana products are designed for the automotive industry. They help dealers identify the right stock to buy and how to price fairly for speedy sales. Cazana’s whole market data offers an unbiased data driven view allowing retailers to see the full picture of the entire market. A few of our more popular product choices for dealerships are:

  • Cazana Multi is a powerful enterprise tool that interrogates data and creates a bulk vehicle list for Excel and CSV formats. Multi allows users to upload thousands of rows of vehicles on their portfolio, in stock or that they are considering buying. It outputs real-time valuation and vehicle information against every row. Multi is heavily used in the automotive industry to assess stock and portfolio values within their current workflows without the requirement to integrate APIs.
  • Stockview provides a simple way for used car dealerships to track their pricing performance at a stock level, to see how they are priced against the market, and to access pricing recommendations aimed at maximising profit, whilst staying competitive.
  • Cazana Companion offers dealerships a tailored valuation for businesses like franchised dealers, independent dealers, or a supermarket. Retailers can also get a full history check on the vehicle in question as well as a clear indication of days to sell and similar vehicles in the market.

Simply put, Cazana saves sales and pricing teams valuable time. Our products take away the heavy lifting by accurately valuing large lists of vehicles in minutes. This allows teams to concentrate on selling cars and attracting new loyal customers. 

But don’t just take our word for it. Matthew Etherington, Divisional Used Car Manager and Stock Controller at Jardine Motors Group (Mercedes Benz division) says:

“We chose to work with Cazana as we were looking for a valuation tool to bring structure to the group as well as helping us to solve an overage stock problem. Before the partnership, every site was run individually and we were simply discounting to shift cars rather than looking at the franchise market. I now run a daily pricing report through Multi for the five sites that I overlook.

This allows me to price quickly with the reassurance of the science behind the valuations. It only takes a few minutes to run a stock list which I can also amalgamate with other internal reports, so the process saves me a lot of time. Since using Cazana we’ve seen our average stock days improve by 32 days by bringing our pricing to within 0.02% of the franchise market.

The tools are invaluable for our less experienced Sales Managers. The level of data and insight Companion provides allows them to be as efficient and accurate as those with years of experience in the industry.

I would recommend working with Cazana to any dealership. Over the last seven months, we have been given a great deal of support in our 121 relationships, especially working with our Account Manager Florence who helps us with new ideas to continually grow the business.”

Get in touch with the team to learn how Cazana can help support your business grow and strategize for the new customer. Make sure you stay up to date with all the latest and greatest Cazana news by following us on Facebook, Twitter, LinkedIn and our weekly articles.

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