So concludes its Dealer Scorecard, a Dominion Powersports’ initiative that identifies strengths and opportunities in core online marketing areas.
Dealer Scorecard reports will be provided at no expense to dealers who attend Dealer Expo in February (reservations for one-on-one consultations required; for more information, contact email@example.com).
Competition Accessories’ Scorecard illustrated an operation outperforming its national competition in several critical areas, including online inventory (more consumers view the dealership’s used and new inventory on CycleTrader.com than the national average), website traffic (it draws more consumer traffic than its competition) and social networking (it communicates with more consumers on Facebook than its competitors and engages consumers more than the industry at-large).
Areas of opportunity include unit pricing. It is within 5 percent of the average regional price on CycleTrader.com for a specific model less than half the time, according to Scott Owens, general manager for Dominion Insights. “That’s not uncommon,” Owens said. Dealers often have pricing beyond or below the average price for models on CycleTrader.com. “In fact, that’s right about the average we see nationally.”
Dealers can identify average model-specific pricing on CycleTrader.com, and can receive automatic e-mails from Dominion from whenever their model has eclipsed regional pricing levels at a level they predetermine. Competition Accessories may consider that step; several of its vehicles were above regional selling price averages, including a 2011 Vulcan 900 that was nearly 15 percent above the regional average.
Its market has 23 other vehicles of the same year and model as what the dealer is selling. That amount of competition for a single model is more than 25 percent higher than the national average.
“Because of that,” Owens said, “how they present their vehicles will be absolutely key to bringing about a higher inventory turn. [It] can add more photos and videos to their online unit listings and should see huge results from that. ...the difference in consumer activity with units that have four to five unit photos versus just one photo is significant – up to five times more clicks and impressions with multiple photos.” (continued)