What questions to ask to defining your Dealership's proper target market?

What are the most important questions you need to ask when it comes to defining the proper target market for your Dealership?

I know that that most every business or Dealer has not thought about who is their target market is. PLUS, they figure out elaborate concoctions as to why their product and service is needed by everyone in their city.. or Country.

But what I found, is that if you think that everyone can use your vehicles and service, you are simply throwing your money away by not finding the proper niche for your Dealership. What is a niche? How do you find your target Market?

1. The best way is to survey the people who have already bought a vehicle from your store. Be sure to exclude friends and family who were obligated to buy from you.
2. If you are a dealer, I urge you to go and sell 2 people that you do not have a relationship with.
• You want to know that you can sell someone because as a dealer principal, that is your best skill for growth in the beginning stages
• You need proof that have viable vehicles and service
3. Then, Survey your new customers and review the following
• What age is your customer?
• Where do they live?
• What sex?, family size?
• Occupation, education level
• Nationality
• Lifestyle
4. If you are just starting and need to find what makes a good niche for your dealership then take a good look at the list below and carefully answer these questions
• Are you in a growing area for sales?
• Do these prospects have money to buy? Why target poor college students?
• Can they afford your vehicles and or auto service?
• Does your location support a large enough population and / or nich to sell to?
• Where are they located? Specific geographic region? Selling low end / high mileage vehicles in an affluent area?
5. After determining a market, start thinking about why they would buy? What keeps your prospects up at night? Are you solving your prospects problem - vehicle wise or credit wise?
6. Is there a related Dealer that is selling successfully in your area? Can you piggy back off of their success?
7. Is there as similar Dealership selling to your niche that you can “copy” the strategy or advertise in the same media outlets since you see they are successful?

The obvious point here is the importance of developing a proper sales messages that this speaking directly to your proper market. They identify with your message and want to buy. When you talk directly to your prospect, you as the Dealer Principal, stop chasing and begin attracting the right clients because you are focused on your market.

As a last point, “use any information from your previous customers” so look at any information for your customers to find their existing data to find your target market, then construct all of your marketing messages to go hand in hand with this target.

Once you can answer these questions, you’re very likely to have true competitive advantage over your local competition in your city.

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