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*This piece has been updated with data from 2020.
Everyone wants a piece of the $46 billion dollar pie, unfortunately, dealerships are not getting their fair share, according to SEMA. They only capture approximately 10% of the lucrative accessories revenue stream.
Considering that 78% of buyers want accessories for their car at the time of sale, this is a great opportunity to increase car sales revenue! As you and I know, purchasing from the car dealer comes with lots of perks like extended warranties, better quality accessories and parts, professional installation, and more. Naturally, they stand at a vantage point when selling vehicle accessories.
Why Do Many Dealerships Not Cash in on Accessories?
Here are 3 tips to help you sell more automotive accessories at a dealership.
1. Be Consistent:
You should be offering 100% of your customers' accessories 100% of the time. Once you have a standardized accessories selling process, stick to it. Referrals and service appointments represent a tremendous amount of your dealership prospects.
This is important because if one customer gets a salesperson who diligently presents accessories and then they tell their friend or family member about getting accessories presented and wrapped into their monthly payment, their friend or family member will expect the same treatment for them. You don't want that customer getting a salesperson who doesn't always remember to present accessories and then that customer doesn't get the same treatment. It could result in a bad review and missed revenue for the dealership. The best opportunity to sell auto accessories is after the customer has agreed on the vehicle they want to buy and before you send them to F&I. Make it a consistent practice and you won't need to worry that not every customer had accessories presented to them!
2. Pre-loading:
People buy what they see. Not all of your customers have an imagination or a strong sense of what the possibilities are when it comes to accessories. That’s why it’s so important to pre-load a variety of show vehicles—to plant a seed of desire and possibility into the hearts and minds of your customers. Are you aware of all the possibilities with accessories?
Take a slower-moving model on your lot, deck it out with chrome wheels, a rear spoiler, window tint, and striping. Now, set it out front and watch how fast it sells. For more ideas on how to package accessories on your show vehicle check out the article “3 Ways To Put Your Preload Program To Work For You”.
3. Track your Sales:
If you don’t keep track of what you’ve done, how will you know your sales potential? Tracking and analyzing your sales provides you with a point of reference and a road map to success. Before adding an automotive accessories sales solution, many dealerships don’t know where they stand on accessories.
This causes many missed opportunities for increased revenue. Be sure to invest in an automotive accessory sales solution and begin tracking your progress. You’ll know who is presenting accessories, the per-vehicle accessory sale, total sales revenue, and much more.
Let Insignia Group Sell Accessories For You
Insignia Group is the groundbreaking accessory sales software in the automotive industry. We have been in this business the longest and know what car buyers want. Our 3D, interactive configurators help customers visualize their vehicle purchase with all the accessories that can make it a vehicle best suited for their needs. Someone with furry dogs might want leather seats added or all-weather mats. A person in a cold climate might really want a remote start added to their used vehicle purchase to make winter morning more bearable. People love accessorizing and dealerships deserve more than the $4.6 billion market share they currently hold. Reclaim your profits with a showroom and digital retailing accessory selling tool!
