Australian new car shoppers are hard-wired to expect great savings before the end of financial year – are you prepared to make the most of your selling opportunities?
June is an exciting time in the retail automotive industry, and usually coincides with a substantial increase in productivity from sales departments. Many Australian shoppers still consider the End of Financial Year as the ‘best time to buy’ and they wait in anticipation for this time to arrive, before driving away in a new car.
From a dealership perspective, EOFY represents a great opportunity to attract more buyers and hopefully forge new lifelong customer relationships. But at a time when slashed prices, finance deals and bonuses are flying from every corner, Dealers need to be prepared, or risk blending in and missing out on the action.
Here are some ways to ensure you get the most out of the EOFY sales fever.
If you haven’t started planning your EOFY marketing strategy you’re already behind. By planning ahead, you’ll give yourself more time to consider the best ways to market yourself and reach potential shoppers. Consider implementing a ‘slow-burn’ strategy that starts at least four weeks before June 30 and increases in strength as the cut-off date approaches.
A multi-faceted strategy, with one voice
New car shoppers are finding their way to your dealership in diverse ways. Your EOFY marketing plan needs to address this by appearing online, in print, on the radio and in any other necessary forums where people are taking notice. Be clever with your targeting. If the typical buyers of your smallest hatchback model are females aged between 20 and 28, advertise your deals on this model in the places potential customers hang out – for example through social media advertising.
Whilst it’s important to be seen across various channels, it’s also essential to keep your message(s) consistent. Settle on a clever campaign name and tone of ‘voice’ for your EOFY sales drive and use it consistently. This improves the strength of your message and the branding of your dealership.
Do something different
Will it be enough to rely on manufacturer incentives alone? In some cases it may be, but when identical deals are available less than half an hour away and similar (or better) incentives are happening next door – maybe it’s time to offer something different. From hosting dealership events to pairing up with local community members or offering added value – there are plenty of ways to separate yourself from the others. Once you figure out what that is, don’t forget to promote it.
Use your dealership
You might be excited about your EOFY sale, but no one else will be if they arrive at your dealership and it looks the same as it always does.
Use your dealership to promote your EOFY deals. From constantly rotating stock, to flashing signs, balloons and velvet rope – get in front of the spotlight. Most dealerships are passed by thousands of commuters every week – if just a handful of those buy a car because they noticed your dealership, then you’re already in front.
Don’t forget your used car department
In the last issue of Automotive Dealer we ran an extensive story on the importance of not neglecting your used car operations. Even though pre-owned sales have an excellent profit potential for Dealers, the used car department is often low on the priority list. The EOFY period is a time when Dealers can not only move new-car stock, but generate interest in their used inventory as well. Pre-owned cars are as ‘new’ to their next owners as a car with a handful of kilometres on the clock, which is something that should always be remembered.