3 Ways Hang Tags Can Improve Inventory

Dealerships across the nation are facing the same new and used vehicle inventory challenges due to a perfect storm of chip manufacturing shortages and a downturn in used vehicle inventory caused by the COVID-19 pandemic. While some experts are predicting improvement by fall, others are expecting shortages to last into 2022. Of course, it’s not all bad news; with improved customer loyalty coming out of the pandemic, consumers are returning to dealerships despite low inventory levels and, although more sparse than normal, used vehicles are fetching top-dollar.

It’s more important than ever to show customers why they should continue buying and servicing with you. Doing so will keep your service department humming and even boost your used vehicle inventory. And the solution is already in your customers’ vehicles. Here are three ways you can put your hang tags to work for you to bring in business and improve inventory:

1. Consider expanding or promoting special amenities.

If your vehicle inventory and loaner car availability are less than desirable, use your hang tag to promote the other great experiences your customers can expect when they service at your dealership. Consumers love convenience, so show off your unique amenities that make your dealership the easy choice. Some popular amenities you may want to highlight include:

• Customer safety measures, such as “Your vehicle has been sanitized.”
• Extended service hours.
• Free car wash.
• Comfortable waiting lounge and/or business center.
• Complimentary snacks and beverages.
• Shuttle service.
• Same-day or walk-in appointments.
• Online scheduling.

2. Put more emphasis on accessories.

With vehicle inventory low, don’t forget about the importance of selling accessories. Advertising your accessories specials on the hang tag is a great upsell opportunity. This important profit center can be a huge advantage throughout these vehicle inventory shortages, and even beyond. Since convenience is proving a top priority throughout the pandemic, accessories can help customers get everything they want in a single visit – particularly with you – and keep them coming back.

3. Leverage your current service customers.

Your existing service customers are your best resource for trade-ins and sales leads. To facilitate more trade-ins during service, make the process as easy as possible and let the leads come to you. Customized marketing hang tags can turn your traditional dispatch tag – that normally ends up in the trash – into a sales lead generator. Advertising trade-in specials on your hang tag is an easy way to start the conversation with customers during service, and adding a QR code to the vehicle value calculator on your website makes it easy for your customers to quickly find out the value of their trade.

Conclusion

When your tag stays in the vehicle, it reaches 100% of your service customers with your messaging. Don’t throw away that opportunity (literally) by throwing your dispatch hang tags in the trash. Customized marketing hang tags put your tag to work for you by sharing your amenities, messaging, brand, offers, and specials with your customers. Whether the market takes a turn for the better soon or challenges continue to persist, using these strategies will help you continue not only to retain existing customers, but also put your dealership in the view of potential consumers and help you grow.

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