What’s the Difference Between Inventory Management, Merchandising, and Marketing?
Fun fact: Used cars account for more than half of all car purchases. It is real!
Many drivers prefer used automobiles because they are frequently more economical, trustworthy and offer great warranty choices. But among dealers, the intense rivalry when marketing used cars is a frequent hurdle, particularly in the current digital era.
Long before they arrive at your lot, your consumers begin looking for used (and new!) cars. Google predicts that customers will spend up to 15 hours conducting online research before considering purchasing a car. Your dealership website must be regularly updated with your used vehicle inventory and must contain all the details clients require during the research phase if you want your automobiles to be included in that phase. So how do you differentiate your vehicles from the competition and persuade buyers that your dealership stands out in a crowded market?
The good news is that we are available to assist with that. You can organize your fleet, find important details about your new and used cars fast, and sell your lot online thanks to our Inventory Platform, while our SimpSocial Services take care of all your digital marketing requirements. To understand more about inventory management, merchandise, and marketing and how they can assist you in selling more cars, let’s go past our introduction.
Exactly what does inventory merchandising entail?
Let’s get right into inventory management, which is just a single place where you can store all of your vehicle inventory. Before your inventory travels anyplace else, you’ll control the VINs, vehicle status, pricing, and other important information here. Imagine it as a vehicle-specific library with a distinct organizational structure.
Inventory merchandising, on the other hand, is essentially how you display your vehicles. Many dealers will recall the pre-digital era when you would stage an ATV being pulled by a pickup truck, drive a Jeep up onto a series of rocks, mount a showy automobile on a rotating pedestal, or place a large bow on the hood of a new car.
We essentially want to do the same thing as it is done in the very digital world of today, only with the images and videos that you show customers on your website and in other places where your inventory stream will be, like adverts, for example.
Consequently, the following is what we mean when we say “merchandising your inventory”:
taking top-notch pictures and movies (and, if you can, staying away from stock photos and watermarks)
Utilizing original methods while showcasing your autos online
attracting people by making sure you have all the details that consumers are seeking for
optimizing your photos and videos for social media and paid advertisements
Consider merchandise from the perspective of the consumer: display the angles and views that your audience prefers, provide 360-degree movies, be upfront about damage, and use photographs to create a story: Don’t just claim that a certain car can tow a large boat or fit three car seats across the back; prove it!
Don’t minimize the process out of contempt; great merchandising takes a lot of thought and effort. Being supported by a team member who can assist you is a tremendous advantage, thus many dealerships are now creating roles just for this kind of work. In this day and age, you really need also have a qualified professional for your digital merchandising needs, just as you have trained technicians for your service department and trained salesmen for your showroom.
It’s reasonable to say that inventory merchandise makes your cars appear fantastic!
What Is Inventory Marketing, Anyway?
Now that all is taken care of, it is safe to explain inventory marketing, which is just what SimpSocial does best! There can be no doubt about the existing inventory deficit. Due to the global shortage of chip supplies, which is having an influence on the production of new automobiles, as well as the intensely competitive used car market, which is driving up prices, many dealers are working with only a small fraction of what they are used to. The good news is that customers want to finish the transaction and make lots of purchases!
The difficulty for dealers is to best target buyers toward their lots through marketing when inventory is limited and oftentimes contains less well-liked models. Everything comes down to showcasing what you already have, presenting each vehicle in the greatest light, ensuring that prospective customers are viewing those vehicles at the most advantageous times, and keeping your dealership front of mind whenever a purchase decision needs to be made.
Inventory marketing involves developing original campaigns centered around the inventory you have, rather than just making ads, though that is certainly a large part of it. Therefore, certainly, marketing can appear as paid advertisements on Facebook or Google using various feed-based options. But it can also take the form of participating in neighborhood projects to gain greater visibility, making sure you’re listed on third-party websites that perform exceptionally well in your area, being active on social media, and so much more.
Depending on your location, your target audience, and even your marketing budget, marketing will be different for each person. But speed to market is one of the essential marketing strategies that we’ve discovered to make the most difference. The sooner you merchandise and market your autos, the better. This is because it is important to get your inventory in front of interested customers before your competitor does.
Want assistance with your inventory? Join Forces With SimpSocial!
We want to provide the smoothest inventory management, merchandising, and marketing experience possible for our dealer partners. Why? Of course, we want you to sell more cars. We don’t want you to lose out on a big sales weekend because you couldn’t have your inventory added to your site, cleaned up, and sent to your outgoing feeds in time, or to have to delete a listing and start over when an employee makes a mistake.
Please get in touch with our team. Simpsocial.com or SimpSocial (888) 829-1110
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