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July 09, 2008 WEST CHESTER, Pa. — Based on the results on an internal study, HomeNet has suggested that dealers can move their used-vehicle inventory at significantly faster rate if they include at least a dozen photographs, custom descriptions and accurate pricing with their online vehicle listings. Based on an analysis of more than 2.5 million vehicles marketed each day though HomeNet's Inventory Online program, the company found that dealers that included descriptions and photos with their online listings had a 32 percent faster turn rate in June. "If more owners and GMs were aware that their pre-owned inventory could be moved nearly a third faster without costing them a dime, you would see Internet managers turn into amateur photographers and writers overnight," commented HomeNet chief executive officer Jesse Biter. "Snapping a few extra photos and writing emotional vehicle descriptions with accurate pricing are such simple, yet effective, ways to improve your online marketing ROI. "Consumers aren't asking for much, they just want information. It simply doesn't make sense to invest significant resources into online marketing yet fail to make your listings as attractive as possible to the people you are trying to reach," Biter continued. "We anticipate this gap widening in the years ahead, as dealers who continue to put forth the minimum effort with sub-standard listings will likely get even more accustomed to seeing the same vehicles on their lot each and every day," Biter added. Tony Rimas, director of operations for the Red McCombs Automotive Group, stressed that having effective and detailed advertising on the Web is necessary for a dealer's success — and not simply just an option anymore. "With all the tools readily available to make the online marketing process easier, dealers that fail to equip each listing with multiple photos and emotional vehicle descriptions are really putting their dealership at a disadvantage," Rimas commented. "Our online marketing philosophy is to do everything we can to duplicate the same emotional buying experience that buyers receive when they visit the lot, across all of our online marketing channels," he added. |
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