Inventory shortage? Use video to counter misconceptions

  • Prasanthi Pittala

As an automobile dealer, have you ever wondered if you are inline with what customers are thinking? Tim James, COO of Flick Fusion, wrote in an article for Digital Dealer how Incentive Videos are beneficial for attracting the consumers.

There is a difference in opinion between what consumers want and what dealers believe consumers want, James explains. A recent survey conducted by Urban Science, gives us an insight into these discrepancies. These numbers are highly significant especially during these times of inventory shortage. 

According to that survey from Urban Science, 58% of dealers believed that consumers are willing to wait, whereas only 28% of consumers said they would wait for the vehicle of their choice. Another statistic, also from Urban Science, indicated that 26% of dealers said they would use incentives to encourage consumers to consider purchasing another trim level. 

But 77% of consumers indicated an incentive would help them consider an alternative. Based on these statistics, it is clearly evident that most consumers will keep searching for a vehicle if a dealership doesn’t have the inventory they want and that most of them will consider an alternative if they were offered an incentive. If the consumer is in your dealership, do everything you can to keep them there. Incentives may not change every consumer’s mind, but will definitely change some minds.

We already know how influential videos are for marketing. Creating specific videos that promote manufacturers and dealers monthly incentives can be a great way to attract customers to purchase a vehicle within the inventory. Incentive videos can be used for marketing campaigns across all social media websites, can be used as Google ads and on dealership websites. Many dealerships rely on marketing partners to create these videos. But the process can be time consuming and expensive. Because these videos are time sensitive, it is in best interest to produce these videos fast and effectively.

Today's technology can drastically reduce the time needed to produce these videos. With the right platform, a dealer can simply choose a video template, enter incentive specific variables and click Save. Within a few minutes, a short dynamic video featuring the dealership and incentives will be ready and can be used for marketing. Using a video template and switching out incentive variables makes this more affordable option. 

For more information on using video at your dealership, please reach out to Doug Thompson at VehiclesTEST.com (954-629-2242), or visit his calendar to set up a demo with him.