How Modern Automotive Drives Sales Velocity With LotLinx
Competition is fierce among car dealerships – and it has only gotten more intense as Internet advertising has moved to the forefront in the marketing arena. Modern Automotive, with dealerships across North Carolina, can testify to the challenges associated with meeting manufacturer sales goals in a highly-competitive environment.
The company can also testify that meeting – and exceeding – those sales goals can be done.
In 2015, Modern Automotive wanted to boost sales for a Nissan store in Lake Norman that was experiencing direct competition. Jamie Tilley, eCommerce Director, explained, “we didn’t want to go the traditional route of just adding a bunch of third-party lead providers. So we started looking at ways that we could drive lower-funnel traffic and more ‘auto intenders’ to our site.”
Jamie found LotLinx and signed up. The results have given Modern Automotive the edge it needs: in November 2015, the dealership saw a 103% sales velocity increase with 438 vehicles sold at a rate of $11.07 per sale. The increased sales velocity also translated to $36,324 saved on inventory holding costs for that month.
Jamie pointed out, “I like the product from the standpoint that it drives [shoppers] to our website, and then from that point, we’re able to retarget them as well. That’s one of the biggest pluses for me – taking them straight to our dealership site instead of having them fill out a form on another third-party site.” He also noted, “Our used car inventory turn has gone up from 12 to over 15 turns a year. So we know that having [LotLinx] has really helped us. And then with new cars, it’s basically volume. We’re hitting 125-130% of our Nissan objective every month this year, and we attribute a piece of that to LotLinx.”
Read the full story of Modern Automotive’s success over the competition here.