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Perhaps not immortal
words of the bard, but how true for us in the internet sales
departments of 21st century America. If there is a single issue
of contention in EVERY internet department today it is PRICING.
Do I do it? – Do I not
do it? If I am going to do it how much? Can I price too low? Can
I price too high? What are other people doing? When should I do
it? When should I not do it? Am I giving up gross profit too
quickly? Am I running customer to my competition?
It’s
enough to make you SICK - Roseanne Rosannedana SLN
Here’s what we KNOW:
There are two reasons
people come to our website AND submit an internet lead.
(p.s. this applies to the phone as well)
-
Price
-
Availability
Look no farther than the
5 Key Drivers and you will find these tenants
-
Reply via
e-mail (LRT)
-
Promote Genuine
Interest
-
Provide
Pricing
-
Confirm
Availability
-
Contact more
than once
Most of our brethren DO
NOT PROVIDE pricing – at least not without a fight.
It is a throwback to the
‘good ol’days that most of us came up in. DON’T TALK PRICE ON
THE PHONE OR ON THE LOT – NO FENDER TRADIN’
That worked well when
the only place a prospective customer could get a price was a
franchised dealership – if we didn’t give it to them they
couldn't get one. Certainly not the case today – a customer can
get a price on a new or used vehicle in many cases in just 3
mouse clicks (KBB.com – Yahooauto.com). Consider too that most
customers have some pricing BEFORE they submitted their lead to
you, and although looking for pricing, are not yet negotiating
(rule of 80/20) they just want to know what YOU can do. Keep in
mind - by AVOIDING pricing you can run off as many customer as
you keep (look at lost sales reports)
Here’s what you CAN do:
Make pricing a
central theme in your first communication
· Your
first non –automated e-mail is not a virtual meet and greet– it
is a MARKETING message. As a marketing message it should
function like a dedicated ad – commercial – or offer for your
customer. It is not designed to close the sale – but to get a
RESPONSE back from the customer (via e-mail or call)
· Embrace
the fact that the customer has clicked in on enough of an
ambiguity that the prices (yes prices) you give will not be on
the vehicle(s) they choose when the view your inventory during a
lot walk
· Don’t
be afraid to quote what you are advertising in the newspaper or
radio or in T V
· Best
Practices may also offer the NATIONAL deal (Truck Month) or even
a REGIONAL offer (RCL pmnt on Fusion or Edge etc.)
Include the vehicle they
were interested in and ALWAYS give an alternative choice (ever
switched a customer up or down – even to pre-owned in the
showroom before?) A best practice is to give a step up or down
AND a Certified Pre-Owned. The choices here allow for the
customer to satisfy their need to SHOP – they are shopping now –
let em! Only let ‘em shop in YOUR INVENTORY!
·
Include in your 1st e-mail (marketing
e-mail) a call to action
·
Include some reasons to do business
with your dealership
-
Been in business 42 years under ONE owner
-
Saturday (Sunday) service hours
-
5 time president’s award winner
-
Testimonials from previous customers
·
Let them know YOU WILL BE CALLING
SHORTLY
Results of SOLD internet
customers uncovered that most customers that inquire about a
specific vehicle – who bought - did not buy THAT vehicle. Close,
but almost never the vehicle of inquiry. By providing pricing
AND alternatives you will find more customers will TALK to you –
and after all that is really the goal of any successful internet
department – get ‘em to the showroom.
Submitted by: Matt Clark
California Digital Marketing Consultant
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