NATDA Magazine Sept/Oct 2015 - Page 72

Since 1957 Statistical Surveys is the proven leader in market analysis for the RV, Marine, Power Sports, and Trailer industries. We’ve helped manufacturers, suppliers, and dealers alike grow their business through a better understanding of market trends both nationally and regionally. This year at the 2015 NATDA Trade Show we will be launching a brand new product for Trailer Dealers; it’s called the “Dealer Analysis Report” or DAR. There’s no doubt this report will answer many questions that you may struggle with on a daily basis for your market area, such as: • Identifying the leaders • What types of trailers are selling • Which lengths groups are most popular • What’s selling by county, city or zip • What are the best selling price points • Where to advertise If you think about the 4-Ps of marketing, Product, Place, Price and Promotion the DAR can help answer these questions. While every dealer has product on their lot, the question remains: is it the right product for their area? When dealers purchase product they need to make sure they understand what product types, manufacturers, length and price points are selling in their market area. In addition to having the right product you need the right place to market/sell it. While traditional in-store buyers are probably still the majority of your sales, realize (which I’m sure you have) almost all customers are using the Internet for initial research before they even come to your dealership. While it’s hard to get an exact number there is a larger percentage of customers each year purchasing online. While many may view this as unsettling, it could also be an opportunity waiting to be exploited through google searches; if you were to find out exactly which counties, cities and zip codes have products moving in your market you may be able to uncover an opportunity to service customers where other local dealers failed to recognize the demand. Price is another concern for what is selling in your market. Let’s say you are selling Trailer type “A” and your entire inventory is priced above $6,000 but in your market area the majority of the 72 product is selling below $5,000. Understanding the correct price points can be a key to improved inventory turns. Last but not least is promotion which is common term that many people confuse for marketing, but as we have reviewed , there are actually ‘Four P’s’ to good marketing – and those that succeed in all four will be most successful. Promotion can take a wide array of forms from advertising in various media, trade shows, brochures, flyers, internet sites and events. Promotion means to create awareness for your dealership which compels the customer to buy from you. If you continue to use the same media buys, promote the same event and advertise in the same areas each year, it may be time to switch things up and try something different. As a dealer, the market you service is constantly changing – and we believe the DAR will help you get back to the 4 – Ps. Remember national trends do not equal local trends, staying abreast of your local market area will help you increase sales. Stop by booth 949 and sign up for your report and receive the NATDA Special Pricing Best data guaranteed backed by 57 years of experience NATDA Magazine www.natda.org