14 • October 2024 • Powersports Business

BY GILLIAN LUCE CONTRIBUTING WRITERS

As buyers become more informed and market conditions continue to change , dealers are facing a more competitive landscape in the online space . For the most sales success , many dealers are embracing smart , data-driven strategies that not only attract attention but also convert hard leads into certified sales . Two key areas to focus on are how you merchandise your listings and the tools you use to enhance their visibility .

TODAY ’ S MARKET DEMANDS FOCUS ON LEAD GENERATION

A recent survey by Cycle Trader unveils a positive consumer outlook in the face of economic uncertainty , with 67 percent anticipating stability or improvement . On the flip side , 33 percent foresee a possible downturn , but this hasn ’ t stopped them from spending . Only 17 percent refrained from making purchases , mainly due to financial limitations . Almost 66 percent of those looking to buy their next motorcycle are confident that the entire process , from consideration to purchase , will be completed in less than three months .

This showcases a strong determination to move forward . What does this mean for dealers ? It ’ s crucial to implement a robust lead generation strategy to attract buyers and swiftly guide them through the buying process , as they are ready to act quickly on their research and purchase journey . To help , we ’ ve identified the strategies used by the top-performing dealers in the Cycle Trader marketplace .

5 PROVEN STRATEGIES FOR ONLINE SALES SUCCESS

1 . Use high-quality images

A picture is worth a thousand words , but in the world of online sales , it can be worth much more . Cycle Trader ’ s marketplace data revealed that from January to July 2024 , dealers who included five or more photos in their listings saw a 101 percent increase in daily connections per listing compared to those with fewer than five photos . High-quality images draw attention and build trust with potential buyers , giving them a better sense of the vehicle ’ s condition and features . 2 . Always include transparent pricing Buyers are sticking to a budget , and with the help of online tools , they can easily browse listings that match their price range . It ’ s important to make sure your listings that fit their criteria show up in these searches . Dealers on our platform have found great success by following this approach . In fact , listings that provide pricing information receive 185 percent more daily connections per listing compared to those without . Being upfront about pricing not only sets clear expectations but also helps weed out less serious inquiries , allowing your sales team to focus on leads that have a higher chance of converting . 3 . Include all relevant details A well-written description that doesn ’ t leave any details out is crucial for online listings . Dealers with comprehensive descriptions in their listings experienced a 565 percent increase in daily connections per listing compared to those with vague or no descriptions . A detailed description should cover the vehicle ’ s condition , any modifications , service history , and unique selling points . This information helps potential buyers make informed decisions and encourages them to reach out for more information . 4 . Use lead enrichment tools Lead enrichment tools can be beneficial , but dealers must have a solid strategy in place to fully utilize them . Recent data from the first half of 2024 indicated a 22 percent decrease in daily connections per listing for dealers who implemented lead enrichment on Cycle Trader , compared to those who did not . This highlights the importance of using these tools effectively to maintain a steady process . Dealers should assess the tools they are using and ensure that they are in line with their overall lead generation strategy . 5 . Leveraging off- and on-lot lookups When it comes to staying competitive with pricing , conducting thorough research is crucial . For Cycle Trader dealers , this involves evaluating their pricing in comparison to other dealers in their market and adjusting accordingly . Dealers who took advantage of Off-Lot Lookup to determine the average market price for specific units based on Cycle Trader marketplace options experienced a 92 percent increase in daily connections per listing . Similarly , those who used On-Lot Lookups to gauge their inventory ’ s demand against the DMA average saw a 10 percent increase .

The powersports market is constantly evolving , and dealers who adapt to these changes by implementing data-driven strategies are more likely to succeed . By focusing on high-quality images , transparent pricing , detailed descriptions , and the strategic use of lead generation tools , dealers can significantly enhance their online presence and attract more serious buyers . As the industry continues to change , staying informed and flexible will be key to long-term success .

Gillian Luce is the AVP of Recreation Marketing for Trader Interactive .