How to shift marketing techniques during times of low vehicle inventory

On the latest episode of Auto Marketing Now, host Brian Pasch talks about how your marketing can shift during times when inventory levels are low and why it’s uncertain when inventory levels will get back to normal.

It doesn’t look like until the end of Q2 2022 that inventory levels will start to get more normalized. There are also some signals that the future of automotive retail might look more like Europe, where consumers are ordering the vehicles and customizing them on demand. Pasch says it has been a few breakthroughs.

For most dealers, price is no longer a discussion or discounting. Many dealers are selling vehicles at MSRP. Dealers should be encouraging consumers to plan ahead and place an order for their next vehicle. Dealers should also start developing marketing messages that educate consumers, on what to do in times of inventory shortages. He also says to be careful with buyback campaigns.

Now is the time to talk about the customer service and experience at your dealership. Think about retooling your business says Pasch. Educate consumers on how you’re adapting to help them and your service process. This isn’t the time to stop marketing but the marketing messages have to be relevant to what consumers are going through. This is not the time to be silent.

Pasch encourages all dealers to retool their sales process. You have the least amount of people and you’re making the most amount of money, along with the least amount of distractions.

To learn more about cutting-edge and innovating automotive marketing strategies, consider attending the upcoming Automotive Analytics and Attribution Summit this November. Click here to read the details.

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