MARCH APRIL 2020 || FIXED OPS MAGAZINE REMEMBER, A GREAT EXPERIENCE IS WHAT CONVERTS TRANSIENT MOTORISTS INTO LOYAL CUSTOMERS WHO RECOMMEND YOUR SHOP TO FAMILY AND FRIENDS, AND INTO EXCELLENT PROSPECTS FOR SERVICE DRIVE EQUITY MINING. dents said positive online reviews influenced where they buy. Capitalize on service drive equity mining. Happy customers who return again and again obviously boost your service department's overall profitability. They are also great prospects for equity mining. Your dealership acquires a pre-owned vehicle and gets a new vehicle sale. Your service customer becomes a sales customer and so on throughout the lifecycle of the customer. Prioritizing used vehicle inventory is a smart strategy. NADA forecasts that new vehicle sales in 2020 will decline roughly 1.2 percent from 2019. Yet certified preowned sales are expected to hit a new record high, according to Edmunds. This indicates that new vehicles, with an average all-time high price of $37,183, are too much of a stretch for price-conscious consumers. But many consumers still need or want a new-to-them vehicle. Your service drive is one of the best places to source the used vehicles you need. There are no pricey auction fees or transportation costs. Plus, your service team knows the vehicles so you can avoid those that need expensive repairs to be front-line ready. An equity mining tool helps you identify service customers with equity in their vehicles, or those coming up on the end of a lease or loan. You can then provide incentives for them to trade-up while you boost your used inventory. Dealerships doing it right dedicate an equity mining expert to review all service appointments for the coming day and identify eligible customers. The expert creates a written trade-in quote for every vehicle and presents it to the customer in your service drive. It's key to know your demographic and 39https://www.hormann.us/