Are You Ready For Tax Season?
It won’t be long before tax returns start to roll in. And that means customers will be banging down your doors looking to pick up a new set of wheels with their annual windfall from Uncle Sam.
If you haven’t already, now is the time begin your preparations. You only get one shot at the tax season influx, so be sure to make the most of it by being ready for the rush that will soon be coming.
Love Your Lenders. You need to be ready for any financial situation that walks through your door. Likewise, it will help to have a strong mix of lending options to suite everyone whether they’re a subprime customer or they have stellar credit. The lenders you have in place might fit the bill, but be proactive and imagine every scenario you could encounter so nothing catches you on your heels.
Inventive Inventory. Look back into your books to see what sells and stock up! Don’t waste a single space on your lot when it comes to tax time. If your customers have shown an appetite for two-year-old trucks, get out there and acquire some. If hybrids are the hot topic in your area, go out and get those too. Call around to other contacts to see how they have performed too. Friends in the industry may have some insight that tips you off to bigger trends than just the vehicles you’ve been able to move from your store.
Pick Up The Phone. It’s easy to create a follow-up phone call process that can yield big returns come tax return season. Perhaps it’s identifying customers who bought a model that underwent a re-design since they purchased it. Or maybe there’s a new trim level available that might be of interest to them. Other good criteria for follow up calls could be expiring service contracts as well.
Ready The Troops. All the work you do with acquiring inventory, establishing lender partnerships and making follow up calls will all fall flat if your staff isn’t prepped for the action. In the calm before the storm, try role playing or coaching sessions to walk through how you want each and every customer experience to progress. And don’t forget to coach up your sales team on how to plant the seed about service contract coverage. You don’t want to miss out on all the back-end revenue this year’s busy season can bring along with it too!