Navigating the Shift: Finding Success in Work Truck Sales in a Challenging Market

The business-to-business (B2B) automotive landscape is shifting — much like every industry and market in 2024. Work truck sales, once fast-moving due to the consistent demand and low inventory levels, now face a slower cycle with saturated inventory. Online leads slowed down significantly, and with this shift demands a proactive approach to secure new prospects that convert to sales, and even more importantly along the way, build lasting customer relationships. Here’s how dealerships can navigate these challenges:

1. Embrace the Omnichannel Customer Journey

Today, every customer expects a seamless, personalized experience across all their touchpoints. This is as true for the customer buying a new laptop as it is for the customer buying their next van for their painting business. Studies show a 10%+ market share increase for B2B companies embracing hybrid sales models.

You must tailor your approach to your customer’s needs, both short and long-term. But that doesn’t mean going all-in on digital. In fact, combining digital tools with the human touch provides optimal results. A survey showed that B2B self-service digital purchases ended in regret 43% of the time while regret drops to 26% with traditional representative-led purchases. That regret falls even more to 21% when you combine the approaches using rep-assisted digital commerce.

These digital trends aren’t slowing down. In fact, Gartner predicts that by 2025, 80% of all B2B interactions will occur digitally. Developing a strong online presence to complement your physical dealership is a must to foster that success.

2. Nail Down Your Prospecting Strategy

Prospecting is a science that requires iteration to perfect. Implement a structured prospecting program with clear expectations. For instance, your managers may be required to identify 10 new prospects per week while your commercial account manager (CAM) is challenged with consistently generating those leads (i.e. more than 10 new prospects per week). This can be achieved with diligent and disciplined practices such as spending two minutes daily or weekly to send templated emails that include links to VDPs or other messages to business prospects. 

3. Build Your Buyer Base

Start with the OEM resources you have at your disposal. Your OEM may provide you with access to valuable buyer lists and other marketing solutions. Then get creative — check local vocational associations, chambers of commerce, target businesses with branded vehicles in parking lots and leverage third-party platforms like ZoomInfo.

4. Source Internal Opportunities

You should be looking inside your dealership just as much — if not more — as you are outside of it. Set up cross collaborative processes that leverage customers of your Parts and Service departments, but don’t stop there. Look at your dealer’s list of vendors and network with them. Many of your vendors likely deal with businesses that could be your customers.

5. Unlock Potential Through Referrals

Don’t underestimate the power of your existing customer base. A staggering 91% of B2B buyers are influenced by word-of-mouth, which means your previous customers may be your best marketing tool. Develop a referral program that rewards customers through incentives such as a credit (where permitted) for services or priority status at your dealership. Foster trust and build long-term relationships.

And don’t forget referrals work both ways. When you refer a customer to someone in your network, they’re more likely to return the favor.

6. Go Old-School

Finally, don’t be afraid to take on old-school strategies. Strategically park your branded trucks in high-visibility areas to generate interest. Bring fliers to pass out at locations where you’d expect to find business owners in vocations that need work trucks or vans.

Consider what local events might be good for your commercial business to sponsor and attend. By implementing proactive prospecting strategies, dealerships can navigate the changing B2B work truck landscape and secure a competitive edge. Remember, success lies in building relationships, offering personalized solutions and leveraging every avenue to reach your target market.