In this year’s 2017 Powersports Business Market Data Report, there was a lot of powerful information that will help you gain some great insights into the most successful path that your dealership should be following for generating more revenue. Revenue generation is the key point in taking the data from this year’s report and creating an actionable plan that instills productive goals at your dealership. Your dealership needs to be focusing on driving after-sale revenue through parts and accessories — that’s where the money is at!
According to the data from CDK, the average powersports dealer made an extra 65 percent in aftermarket parts at the time of purchase in 2016, with high hopes for an additional 69 percent of growth in 2017. These numbers are even higher on the fastest growing segment of side-by-sides.
How can you increase this opportunity to obtain even more revenue? Below are a few ideas on how to leverage Facebook ads for before the sale, during the sale and after the sale.
Before the sale: There are a variety of customers in your sales funnel that you can target. Create a retargeting ad for those that have visited your website. Offer an accessories coupon for 10% off with the purchase of a bike. This potentially steers your customer away from a competitor to buy the bike from you, and it can achieve the goal of getting that customer to spend more money than they may originally intended.
During the sale: Teach your sales team to smoothly encourage their customers to “Like” your dealership on Facebook. Offer the incentive for the “Like” to receive 10% off an accessory item up to $200. This accomplishes two goals; firstly, giving you another fan that you can continue to market to for free via content on Facebook and secondly, it also gives your sales team leverage in the deal to share with your new .
After the sale: Not everyone buys all the accessories they want. Some might not buy any at all at the time of purchase. Perhaps that customer likes to do a little online shopping before committing to the purchase in store. This is where you will need to leverage the ability to build a target Facebook audience, discussed here in our previous blog. You can market a price match guarantee or free installation of all parts and accessories bought from the dealership.
These are just a few ideas to increase sales opportunities for both major unit and accessories sales for your dealership. With regard to the 2017 Powersports Business Market Data Report, the services and parts department provides dealers with a highly optimistic outlook that growth is possible with the right marketing solutions on your side. For more information about Facebook Advertising, please contact email@example.com to discuss these opportunities with our industry specialists.
Jim Jabaay is the vice president of Sales and Marketing for LotVantage, a leader in digital marketing for automotive, powersports, marine and RV dealerships. Jim has grown up in the automotive industry with the family dealership in the suburbs of Chicago. Jim started at Manheim in sales and continued to grow his career running sales teams throughout Texas for nine years. Following Manheim, Jim spent two years at Dealertrack expanding his career in the software side of the business. LotVantage utilizes data to help dealerships understand which inventory to post and when to post it for a local, national and social presence. Jim’s number one goal is helping dealers succeed in an ever growing and changing dealership world.