You’re Still Missing Out On Selling More Cars with Craigslist

Chasing MoneyIt’s amazing to see the transformation and dealership mindset that has occurred over the past 6months since Craigslist began charging $5 for the Cars + Trucks category.  Initially, many dealers pulled back on posting and didn’t want to spend the advertising money.  There were quite a few things with this thought process that made us scratch our heads.  First, dealers said that Craigslist helps them sell cars every month, but they couldn’t justify spending $5 per car.  Yet 90% of dealerships will spend thousands of dollars advertising on other automotive websites. Secondly, this change did not affect the CONSUMER at all!

The Numbers Don’t Lie

This was quickly proven in the first few months when dealerships were experiencing 10 Times as many leads per ad as they did while spamming a marketplace.  Many dealers capitalized on this and spent their entire advertising budget on Craigslist.  According to Alexa rankings, Craigslist continues to remain number 10 in the United States.

Over the past six months, most dealers have come back and are posting their inventory back on Craigslist after noticing the amount of vehicles it helped sell every month.  With the average dealer holding 60 cars in used inventory and turning inventory every 60 days, a dealer can advertise every vehicle on Craigslist for well under $1000 per month.

Don’t Get Hustled

There have been a multitude of service offerings that have come along to advertise on Craigslist, with some advertising a “special rate” with Craigslist of only $3.  These don’t exist.  The key is partnering with a company that is dedicated or utilizes a company dedicated to Craigslist marketing.  When you are looking for a partner, make sure they make the process easy, utilize photo overlays, all vehicle information to your Craigslist ad, a link to a Landing Page, and lead tracking.

Want to learn more about how we can help you capitalize on Craigslist? Click Here

 

Utilizing Social Media to Sell More Cars

Social Selling

 

Savvy dealers are turning to low cost alternatives like Facebook and Twitter and other social media outlets as their alternative. Not only is it free, but it can help you interact with your future and existing customers in real-time. It’s no secret that Dealers will do just about anything to gain new customers by any means necessary. Radio, Print and TV ads can all have tremendous results but at what cost? Those traditional marketing mediums and budgets are dying.

As we know, today’s consumer researches their next purchase online and wants to share their thoughts online to get their friends opinions before making the purchase. Why not help them by giving them all the information they are looking for and a way to communicate with you at the same time.

Social Media Grows Followers

This starts with your own staff.  Do they follow the dealership themselves?  Do they ask their friends to like their company?  Encourage the staff to talk about the company and tag the organization on Facebook and Twitter.  This is free advertising for the dealership.

Engage your Audience

This starts with posting relevant information to your Facebook fans and twitter followers.  Let them know about the upcoming specials or just reduced inventory.  What better way to do this then with photos and descriptions of the inventory?  Make the posts likeable, sharable, clickable and able to post comments.   When a consumer clicks on the inventory, bring them to your landing page inside the Facebook application.  Furthermore, utilizing the Inventory applet to display all dealership inventory on Facebook.

Convert

Once a consumer is interested in the vehicle, what are you doing to convert them into a lead?  Make sure your landing pages give multiple options to gather more information about the consumer including credit applications and appointment setting.  Connecting all of this back to your CRM gives you the ability to manage everything from start to finish.

If you would like to learn more about how to improve your social media presence online and post your inventory to the various social media outlets, send us a message or click here to learn more.

Five Myths About Selling Vehicles on eBay Motors

Myth vs. Truth

We’ve all been skeptical at some point about eBay and its effectiveness to sell vehicles. Some dealers have been hesitant to fully commit to placing their inventory on one of the best-selling platforms around. We would like to share with you some of the most common Myths surrounding eBay Motors.

Myth 1 “Prospects on eBay Motors aren’t serious buyers”

Truth1

  • Vehicle shoppers are very serious about their intent to purchase a vehicle if they are willing to fork over personal info including their credit card and security codes.
  • Dealers can increase your closing ration 20% or more by taking the time to implement an eBay Motors sales process from the total quantity of prospective buyers.

Myth 2   “eBay Motors is only for specialty or rare/exotic vehicles”

Truth2

  • eBay Motors is a great secondary sales channel for the majority of dealer partners for every type of vehicle they sell.
  • Most dealer inventory is mixed 50/50, primary franchise model pre-owned and conquest model pre-owned.
  • Dealers are now discovering that eBay Motors is also an effective venue for selling new vehicle inventory as well.

Myth 3 – “The Consumer has to physically see the vehicle before buying”

Truth 3

  • Reports show that 70% of dealers sales through eBay are delivered to out of state customers based on photos.
  • Maintaining high feedback scores instill trust and confidence for the customer.
  • Providing ample quality photos, and make terms and conditions clear help shoppers make purchasing commitments.

Myth 4 – “We can’t hold gross with an eBay Motors buyer”

Truth 4

  • Surveys show the majority of dealer partners hold average to above average gross on pre-owned vehicle sales originating from eBay Motors.
  • Some shoppers will have an unrealistic expectation of your selling price. A good majority will appreciate a vehicle that is priced fairly in relation to their local markets. eBay gives consumers the sense of confidence that they haven’t over paid for their vehicle.

Myth 5 – “Maintaining a presence on eBay is too difficult”

Truth 5

  • Any dealer profit center would have to implement an effective sales operation just like any other marketing outlet.
  • eBay makes it easy to implement a sales strategy and achieve a significant ROI for committed dealerships with their wide range of resources.

Do you have a myth and truth you would like to share that others would benefit from? Post it below or on our Facebook fan page.

 

Utilizing eBay Motors to Sell More Inventory

Specialty CarsHistorically, eBay Motors has had a stigma that it’s only good for selling specialty inventory or old classic cars.  Reality is, typical inventory mix on eBay Motors is 50% primary franchise model pre-owned and 50% conquest model pre-owned.  While we can understand that maybe not all dealership inventory  is “perfect” for eBay, not utilizing eBay can cost you sales each month.    eBay provides the dealership with a unique opportunity to list inventory with a low starting bid price relative to the true market value of the product.  What this does for your dealership is gives you a full lead list of potential clients that have given a commitment (albeit a low figure sometimes) to purchase your inventory.  Your sales staff can now contact the lead and begin to work the sale.

There are a multitude of software products to post inventory on eBay Motors.  Utilizing software that can seamlessly create an ad with all photos (eBay allows for up to 100), description, price, terms of sale, warranty information, etc is paramount to your success and time management.

LotVantage provides dealerships the ability to quickly post inventory on eBay Motors (disclosing all listing fees associated), up to date and dynamic templates with video integration for dealerships subscribed to YouTube service and color options to keep branding consistent, default settings for financing, warranty, shipping, terms of sale, and disclaimers, and an interface to view all current listings, views, watchers, bids, offers and buyer information.

Our team is always eager to teach you more about all of our service offerings.

If you would like more information or a tutorial to get started using eBay Motors click the link or give a us a call now (866) 881-3329.

 

Could stock photos be hurting your online marketing efforts?

Stock Photo 2007 Cadillac EscaladeThere has been a growing trend with Dealers showcasing their used inventory with stock photos and that needs to stop. Marketplaces are being flooded with pre-owned vehicles that have multiple stock photos, and consumers are growing tired of it when doing searches online.

What does that mean?

That means when you are looking at the dealers used car inventory, there are one or more stock photos for that vehicle. The photos aren’t really the vehicles that dealers are selling and it’s misleading for the consumer. This is becoming a real problem for service providers that are responsible for taking vehicles up to the cloud, whether that is Auto Trader, Cars.com, eBay, Facebook, Twitter, YouTube, Backpage, etc.

Any of these places where auto dealers want to sell, they are responsible for providing accurate pictures so you can do it on a scalable level.

Who is to blame?

Whoever is making the decision to help the dealer get multiple stock photos on these vehicles maybe hurting the rest of their marketing efforts. Is it the dealer, DMS provider, or if somebody else has convoluted their minds into thinking they need a bunch of stock photos? It’s negatively impacting them whether they realize it or not.

From the consumer’s point of view, it’s a deceptive practice since they clearly know that vehicle is used and are trying to make intelligent buying decisions based on such pictures. The only time stock photos might be acceptable, would be if the dealer is advertising new inventory and waiting on actual photos.

Consumers are becoming more and more comfortable buying vehicles on the internet sight unseen. Photos, price, and description combined is what is driving this movement. This has given the consumer their “used car factory” to get the exact car they want if they are willing to pay the price to ship the vehicle.

Stock photos don’t sell cars! Let’s work together to fix this growing problem.

 

YouTube video marketing for dealerships

Showcasing your RV on YouTube

They say a picture is worth a thousand words.  If that’s the case, what is a video worth?  46% of people say they’d be more likely to seek out information about a product or service after seeing it in an online video.  As an RV dealer, are you leveraging the use of video to help sell more vehicles each month and engage your customers?

Video marketing and YouTube in particular, can help bring your dealership to the next level in getting more customers and ultimately selling more inventory.   According to Alexa.com, YouTube is the #3 ranked website in the world.  The average user spends 18 minutes on the site.  It’s 20% easier to rank #1 with a video result as compared to a website. Video is a major influence on consumers making a purchase decision.

Drive More Traffic

If you want to drive more traffic to your dealership, utilize a software company that can take your dealership’s data, stitch together photos and descriptions while adding a Human Voice-over all in one video. Taking it to the next level and creating a YouTube channel with consistent brand imaging, a video library, and dealership information will give you even more exposure.

Capture the lead!

YouTube videos should engage the consumer to want more information.

Providing the consumer with an embedded phone number in the video and a link to a landing page with all the details about each RV will only increase the customer interaction. Each landing page should also contain additional calls-to-action ranging from financing options to trade in forms along with the dealership’s contact information.

Next Level

Taking it to the next level means ensuring everything you do is mobile.  40% of YouTube views are by mobile users.  Are you utilizing a mobile strategy to engage your customers or are you giving them a poor experience from their phone?

There are many ways to spend an advertising budget today and a multitude of websites to advertise your inventory.  Making an investment into a video product should be one of these discussions for your dealership to give yourself the opportunity to convert more ads into leads and sell more RVs.

If you would like more information on YouTube video marketing for dealerships, please feel free to contact us.

 

eBay Classifieds Top 5 Best Practices

Top 5 Best Practices on eBay Classifieds

With any new product and marketplace there’s a learning curve and we’ve recently gained more knowledge about what it takes to manage the “art” of posting to eBay classifieds. We want to share the Top 5 Best Practices we’ve learned over the last few weeks with you:

1.)  New eBay accounts require some “Seasoning” similar to the historical craigslist landscape.
a.)  It’s best to start posting with 5 ads a day and work up to 25 or you may risk burning
your account.

2.)  Dealers with similar inventory need to ensure there is a sufficient vehicle description with enough unique content to differentiate each ad from anther. We’ve found some issues with dealers who have very similar inventory and unfortunately, our system can’t always trick eBay into thinking the ads are unique so they may get flagged.

3.)  Make sure you are not posting any duplicate ads. eBay specifically states you cannot post the same vehicle twice. If you do not want to wait until the 60 day listing period is up, you can delete old ads and re-post. Alternatively, if you want to post to separate cities/markets, then create another eBay Classifieds account.

Separate city, separate market = separate eBay classifieds account

4.)  Using multiple URL’s will contribute to flagging. Dealers should not include a link to their website in the vehicle description feed. eBay does not want to be utilized as a traffic converter, so we advise pulling this domain from the description if you want to have your account maintain in good standing.

5.)  Categorization: eBay has organized categories to guide consumers when looking for specific inventory. It’s important when posting ads to double check that you’re correctly listing inventory under the preferred category, or your ads will be subject to flagging. For example, do not list a motorcycle under the Car category. You can review this before you hit submit on your queue. Also note: Cars is a separate category than Trucks, Vans & SUVs. Listing a 2002 Jeep Cherokee in the Car category will likely not be an issue, but if you want to be specific about where the consumer is looking for your inventory, it’s a good thing to keep in mind.

Finding the eBay Classified Categories
If you have other best practices you would like to share, post them in the comments section below.

 

 

Craigslist Marketing Continues to Grow Up

Craigslist Marketing Continues to Grow Up

Since the onset of the $5 charge on Craigslist, dealerships have taken on a multitude of approaches on how they not only understand this marketplace, but more importantly utilize this marketplace to attract customers to visit their dealerships.

The most important thing that we have learned is that dealerships not posting inventory are losing opportunities to gain qualified prospects and sell more vehicles.  Here are the results from dealerships posting in our software:

Ads Posted to Craigslist vs. Leads per Ad

*March estimated through month end

Leads per ad continue to grow on a month over month basis, proving the importance of dealerships to leverage Craigslist as a market to advertise their pre-owned inventory.  If you have not budgeted for Craigslist ads and a software provider to post through, do so immediately!

Things to Consider

Other important factors to look at are your Craigslist ads.  Today, 50% of traffic on Craigslist is found on a mobile phone.  Are your ads and Vehicle Display Pages mobile ready?  Titles and content are searchable.  Ensuring your ads have a strong title, price, pictures and content is critical. Are you taking advantage of all 24 photos with photo overlay calls-to-action? How many ways are you connecting to your customers?  Having multiple calls-to-action, including phone number, email, and copy and paste links to VDPs only increase your chances of selling the vehicle.

We may all believe we know what sells on Craigslist and have our own theories, but only a select few can take years of past data and tell you which vehicles will generate the most leads and are priced closest to the market price.  Utilizing a partner that offers this level of sophistication will only help you achieve a higher percentage of leads per ad, increasing your ROI, and ultimately selling more cars.

Now for a Little Math.

Let’s assume you want to start with a $1000 monthly budget including $300 for a software provider.  This will allow for $700 in Craigslist posts.  This will get you 140 posts on Craigslist.  Considering an ad is good for 30 days, this should give you the ability to post most dealers inventory at least once per month.  Using the stats above, this will generate 154 leads for the month!  That is an average cost of $6.49 per lead.  If you can close 5% of your leads (a little below average), this equates to almost 8 vehicles sold.  Averaging $1200 on the front end, a $1000 budget will generate $8400 in profit!

Is Craigslist the only marketing site a dealership should use?  Absolutely not!  I feel that it’s a strong compliment and a necessity for all dealerships with any size budget to market their inventory.

If you are interested in learning more, send us a message.

Video Credit Apps help convert leads

Video Credit App Spokesmodel

Want to get more credit applications and leads from your web site? Submitting personal information over the Internet can be intimidating for many people. Our Video Spokesperson sets prospects at ease, walks them through the process and increases credit application submissions with our Video Credit App.

Engage More Shoppers and Capture More Credit Applications

Over the last few weeks, we have introduced three new spokesmodels, 2 female and 1 male (Spanish), each with 3 different backgrounds allowing you more customization. Video spokesmodels bring the captivating presence of video personalities and adds them directly to your website. Our exclusive line of virtual spokesmodels video products gives our customers the tools to increase the effectiveness of their online presence.

Consumers who engage with your dealership online credit application are the most motivated, down-funnel prospects on your website. Want more of them? Contact us to get started!

Get More Credit App Submissions With Our Video Credit Application! Call (866) 881-3229 or Submit Your Info Here

LotVantage announces eBay Classifieds as its newest posting portal!

Watch our quick video below to see how easy it really is.

LotVantage is proud to announce eBay Classifieds as its newest classified posting portal in the all-encompassing inventory marketing suite. eBay has created a FREE local online marketplace for dealers to market their vehicles. eBay Classifieds is an easy to use, clean and safe experience backed by eBay! eBay Motors has always been a great portal to let millions of buyers around the country see your listing, and now you can choose eBay Classifieds and focus your selling locally.

Why eBay Classifieds?

There are over 90,000 cars and vehicles listed on eBay Classifieds which means close to thirty cars for every county in the U.S. It attracts millions of unique visitors every month with hundreds of thousands of live listings to choose from. In addition, it has generated more than 1 billion page views since launching, which equates to over three for every person living in the U.S. Lastly, eBay Classifieds users post over 150,000 ads every month.

Did we mention it’s FREE?

LotVantage’s eBay Classifieds module comes with the following features:

Functionality features:

  • Quickly post 25 Free ads per day
  • Ads stay live for 60 days
  • Saved eBay Classifieds username and password
  • Manage your ads under our “Manage Ads” tab

Ad features:

  • Clean, easy to read vehicle information
  • Each ad links directly to your entire inventory
  • Ability for consumers to share vehicles via email, text, Facebook and Twitter
  • Easy 1 button click ability for consumer to print your ad! (great for those walk in customers)
  • Embedded calls-to-action to designed to generate and convert leads
    o Vehicle specific landing page URL (mobile and desktop)
    o Address with Map
    o Call tracking
    o Reply by email

A user-friendly website like eBay Classifieds makes consumers searching for inventory, simple.  Are you ready to start listing your inventory with this new service? Click Here