While new and used car inventory is still well below pre-pandemic levels thanks to the chip shortage and pent-up demand, customers are still buying. And high demand coupled with low inventory means profit.
The Car Gurus Vehicle Availability Index & Insights Report for November 2021 found slight inventory growth this fall with sales growth ticking up around the Thanksgiving holiday weekend, although availability dipped back down to close November.
In turn, prices continued to climb for both new and used vehicles. In fact, used vehicle prices are up more than 30% over last year.
That’s why now is the perfect time to launch a buyback campaign to build inventory and drive sales. There is inventory to be found with your current customers, as well as with others in the market you haven’t met yet.
How to Get Started with Buyback Campaigns
Besides conducting these campaigns via email and direct mail, dealers should be tempting potential sellers on the world’s largest source of traffic – Facebook.
As you’re wrapping up your 2022 strategic sales planning and building out your marketing plans, a Facebook buyback campaign is a highly affordable tactic to implement. Plus, it’s measurable, making it easy to demonstrate how a small campaign investment can generate profit.
In fact, one of AutoSweet’s customers reached more than 20,000 users and saw three sales totaling $137,000 (plus trade-ins) in just one month, all for just $250. The cost per click (CPC) is a little higher than normal at $1.71 but that’s still well under the industry average of $4. That’s some serious return on investment.
AutoSweet offers free consultations on buyback campaigns. Share your information below and a representative will reach out!
