Should car dealers provide up front pricing for prospects by Infinite Prospects
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Infinite Prospects (201) 448-7253 lays out the benefits to car dealerships of emailing pricing to their leads and prospects before calling. For more info call (201) 448-7253 or visit http://infiniteprospects.com
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Should car dealers provide up front pricing for prospects by Infinite Prospects
- 1. Should Car Dealers Provide Up-Front Pricing for Prospects? Best Practice Strategies Adam Ross, Managing Director Infinite Prospects, Inc. - http://infiniteprospects.com (201) 448-7253 Wednesday, September 4, 13
- 2. Pricing:“UP-FRONT” or “AFTER WE SPEAK”? Wednesday, September 4, 13
- 3. While we address the pricing question, please keep this in mind: • The prospects we’re talking about here have spent significant time on one or more websites and have ALREADY SUBMITTED a price request to the dealership (they’re in your CRM tool already). • How are you going to engage them & STAND OUT? Wednesday, September 4, 13
- 4. What does the customer perceive when a dealership DOES NOT email up-front pricing after receiving a price request and jumps right to the initial phone call? Wednesday, September 4, 13
- 5. Calling Before Sending Pricing • Mistrust, skepticism • Adversarial Initial Call • Are you afraid to address pricing via email? • Competition can potentially email pricing first • Prospect wants to address numbers on initial call • “Typical dealer” Customer Perceptions Wednesday, September 4, 13
- 6. Now, Let’s Discuss: What happens when a dealership DOES email pricing up-front to the consumer and calls after sending? Wednesday, September 4, 13
- 7. Up-Front Pricing,Then Calling • Better chance of being first with pricing • Easy to do business with • Enables you to focus on trade and credit • Transparent experience, empowered, respected • First Call discusses everything BUT price • Impressive, STANDOUT Customer Perceptions Wednesday, September 4, 13
- 8. Think of the Price Presentation as your ADMISSION TICKET to call the customer If people don't buy without knowing the price, then Why delay a potential sale by withholding information? Wednesday, September 4, 13
- 9. The Gross Profit Equation • Trade-In • Aftermarket/ Accessory Sales • Extended Warranties / Tire & Wheel Protection • Finance Reserve • Stair-step bonuses • Referrals • Potential service department profit Remember: Front-End Gross is IMPORTANT, but it is not the ONLY way to monetize web shoppers and profit on Internet- initiated sales... Wednesday, September 4, 13
- 10. More Reasons to Price Up-Front 1) Aren't they shopping anyway? At least you're in the game… "We miss 100% of the shots we don't take" - Wayne Gretzky 2) How often does a prospect buy the exact vehicle they inquired about? 3) Gives the consumer a positive feeling about the dealership. Wednesday, September 4, 13
- 11. KeepYour Friends Close... • Mystery shop your competition - are they giving out pricing up-front? • If yes, then you MUST to give it out • If you got a price, • how long did it take them to get you the information you requested? • What did that quote look like? • If you never got a price, then you have an opportunity to get ahead of everyone! Wednesday, September 4, 13
- 12. Learn More byVisiting http://infiniteprospects.com http://www.facebook.com/infiniteprospectsinc http://twitter.com/inf_prospects or call (201) 448-7253 ThankYou! Wednesday, September 4, 13
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- They view the dealership with mistrust and skepticism\n The initial call is adversarial - “do you have it,” and “how much is it”\n Customer then wonders “Are you afraid to address pricing via email?”\n Competition can potentially email pricing first\n Prospect wants to address numbers on initial call, which tends to lower grosses\n They view you as a “Typical dealer”\n
- They view the dealership with mistrust and skepticism\n The initial call is adversarial - “do you have it,” and “how much is it”\n Customer then wonders “Are you afraid to address pricing via email?”\n Competition can potentially email pricing first\n Prospect wants to address numbers on initial call, which tends to lower grosses\n They view you as a “Typical dealer”\n
- They view the dealership with mistrust and skepticism\n The initial call is adversarial - “do you have it,” and “how much is it”\n Customer then wonders “Are you afraid to address pricing via email?”\n Competition can potentially email pricing first\n Prospect wants to address numbers on initial call, which tends to lower grosses\n They view you as a “Typical dealer”\n
- They view the dealership with mistrust and skepticism\n The initial call is adversarial - “do you have it,” and “how much is it”\n Customer then wonders “Are you afraid to address pricing via email?”\n Competition can potentially email pricing first\n Prospect wants to address numbers on initial call, which tends to lower grosses\n They view you as a “Typical dealer”\n
- They view the dealership with mistrust and skepticism\n The initial call is adversarial - “do you have it,” and “how much is it”\n Customer then wonders “Are you afraid to address pricing via email?”\n Competition can potentially email pricing first\n Prospect wants to address numbers on initial call, which tends to lower grosses\n They view you as a “Typical dealer”\n
- They view the dealership with mistrust and skepticism\n The initial call is adversarial - “do you have it,” and “how much is it”\n Customer then wonders “Are you afraid to address pricing via email?”\n Competition can potentially email pricing first\n Prospect wants to address numbers on initial call, which tends to lower grosses\n They view you as a “Typical dealer”\n
- They view the dealership with mistrust and skepticism\n The initial call is adversarial - “do you have it,” and “how much is it”\n Customer then wonders “Are you afraid to address pricing via email?”\n Competition can potentially email pricing first\n Prospect wants to address numbers on initial call, which tends to lower grosses\n They view you as a “Typical dealer”\n
- They view the dealership with mistrust and skepticism\n The initial call is adversarial - “do you have it,” and “how much is it”\n Customer then wonders “Are you afraid to address pricing via email?”\n Competition can potentially email pricing first\n Prospect wants to address numbers on initial call, which tends to lower grosses\n They view you as a “Typical dealer”\n
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- In the open, transparent where the consumer feels empowered and respected\n First Call discusses “did you get my email”, current vehicle, financing\n Your dealership looks impressive, stands out from the crowd\n You have a better chance of being first with pricing, and first gives you the best opportunity to sell\n Customers get the perception that you’re easy to do business with\n Enables you to focus on trade and credit, rather than the price of the vehicles\n
- In the open, transparent where the consumer feels empowered and respected\n First Call discusses “did you get my email”, current vehicle, financing\n Your dealership looks impressive, stands out from the crowd\n You have a better chance of being first with pricing, and first gives you the best opportunity to sell\n Customers get the perception that you’re easy to do business with\n Enables you to focus on trade and credit, rather than the price of the vehicles\n
- In the open, transparent where the consumer feels empowered and respected\n First Call discusses “did you get my email”, current vehicle, financing\n Your dealership looks impressive, stands out from the crowd\n You have a better chance of being first with pricing, and first gives you the best opportunity to sell\n Customers get the perception that you’re easy to do business with\n Enables you to focus on trade and credit, rather than the price of the vehicles\n
- In the open, transparent where the consumer feels empowered and respected\n First Call discusses “did you get my email”, current vehicle, financing\n Your dealership looks impressive, stands out from the crowd\n You have a better chance of being first with pricing, and first gives you the best opportunity to sell\n Customers get the perception that you’re easy to do business with\n Enables you to focus on trade and credit, rather than the price of the vehicles\n
- In the open, transparent where the consumer feels empowered and respected\n First Call discusses “did you get my email”, current vehicle, financing\n Your dealership looks impressive, stands out from the crowd\n You have a better chance of being first with pricing, and first gives you the best opportunity to sell\n Customers get the perception that you’re easy to do business with\n Enables you to focus on trade and credit, rather than the price of the vehicles\n
- In the open, transparent where the consumer feels empowered and respected\n First Call discusses “did you get my email”, current vehicle, financing\n Your dealership looks impressive, stands out from the crowd\n You have a better chance of being first with pricing, and first gives you the best opportunity to sell\n Customers get the perception that you’re easy to do business with\n Enables you to focus on trade and credit, rather than the price of the vehicles\n
- In the open, transparent where the consumer feels empowered and respected\n First Call discusses “did you get my email”, current vehicle, financing\n Your dealership looks impressive, stands out from the crowd\n You have a better chance of being first with pricing, and first gives you the best opportunity to sell\n Customers get the perception that you’re easy to do business with\n Enables you to focus on trade and credit, rather than the price of the vehicles\n
- In the open, transparent where the consumer feels empowered and respected\n First Call discusses “did you get my email”, current vehicle, financing\n Your dealership looks impressive, stands out from the crowd\n You have a better chance of being first with pricing, and first gives you the best opportunity to sell\n Customers get the perception that you’re easy to do business with\n Enables you to focus on trade and credit, rather than the price of the vehicles\n
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- Remember: \nFront-End Gross is IMPORTANT, but it is NOT the ONLY way to monetize web shoppers and profit on Internet-initiated sales...\n Profit from selling their trade-in and buying a solid vehicle for your lot without having to go to auction\n Aftermarket/Accessory Sales carry nice profits\n Extended Warranties / Tire & Wheel Protection\n Finance Reserve\n Stair-step bonuses from the factory\n Referrals to friends and family\n Potential service department profit. If the customer was happy with the sales experience they are much likelier to service there as well.\n
- Remember: \nFront-End Gross is IMPORTANT, but it is NOT the ONLY way to monetize web shoppers and profit on Internet-initiated sales...\n Profit from selling their trade-in and buying a solid vehicle for your lot without having to go to auction\n Aftermarket/Accessory Sales carry nice profits\n Extended Warranties / Tire & Wheel Protection\n Finance Reserve\n Stair-step bonuses from the factory\n Referrals to friends and family\n Potential service department profit. If the customer was happy with the sales experience they are much likelier to service there as well.\n
- Remember: \nFront-End Gross is IMPORTANT, but it is NOT the ONLY way to monetize web shoppers and profit on Internet-initiated sales...\n Profit from selling their trade-in and buying a solid vehicle for your lot without having to go to auction\n Aftermarket/Accessory Sales carry nice profits\n Extended Warranties / Tire & Wheel Protection\n Finance Reserve\n Stair-step bonuses from the factory\n Referrals to friends and family\n Potential service department profit. If the customer was happy with the sales experience they are much likelier to service there as well.\n
- Remember: \nFront-End Gross is IMPORTANT, but it is NOT the ONLY way to monetize web shoppers and profit on Internet-initiated sales...\n Profit from selling their trade-in and buying a solid vehicle for your lot without having to go to auction\n Aftermarket/Accessory Sales carry nice profits\n Extended Warranties / Tire & Wheel Protection\n Finance Reserve\n Stair-step bonuses from the factory\n Referrals to friends and family\n Potential service department profit. If the customer was happy with the sales experience they are much likelier to service there as well.\n
- Remember: \nFront-End Gross is IMPORTANT, but it is NOT the ONLY way to monetize web shoppers and profit on Internet-initiated sales...\n Profit from selling their trade-in and buying a solid vehicle for your lot without having to go to auction\n Aftermarket/Accessory Sales carry nice profits\n Extended Warranties / Tire & Wheel Protection\n Finance Reserve\n Stair-step bonuses from the factory\n Referrals to friends and family\n Potential service department profit. If the customer was happy with the sales experience they are much likelier to service there as well.\n
- Remember: \nFront-End Gross is IMPORTANT, but it is NOT the ONLY way to monetize web shoppers and profit on Internet-initiated sales...\n Profit from selling their trade-in and buying a solid vehicle for your lot without having to go to auction\n Aftermarket/Accessory Sales carry nice profits\n Extended Warranties / Tire & Wheel Protection\n Finance Reserve\n Stair-step bonuses from the factory\n Referrals to friends and family\n Potential service department profit. If the customer was happy with the sales experience they are much likelier to service there as well.\n
- Remember: \nFront-End Gross is IMPORTANT, but it is NOT the ONLY way to monetize web shoppers and profit on Internet-initiated sales...\n Profit from selling their trade-in and buying a solid vehicle for your lot without having to go to auction\n Aftermarket/Accessory Sales carry nice profits\n Extended Warranties / Tire & Wheel Protection\n Finance Reserve\n Stair-step bonuses from the factory\n Referrals to friends and family\n Potential service department profit. If the customer was happy with the sales experience they are much likelier to service there as well.\n
- Remember: \nFront-End Gross is IMPORTANT, but it is NOT the ONLY way to monetize web shoppers and profit on Internet-initiated sales...\n Profit from selling their trade-in and buying a solid vehicle for your lot without having to go to auction\n Aftermarket/Accessory Sales carry nice profits\n Extended Warranties / Tire & Wheel Protection\n Finance Reserve\n Stair-step bonuses from the factory\n Referrals to friends and family\n Potential service department profit. If the customer was happy with the sales experience they are much likelier to service there as well.\n
- Remember: \nFront-End Gross is IMPORTANT, but it is NOT the ONLY way to monetize web shoppers and profit on Internet-initiated sales...\n Profit from selling their trade-in and buying a solid vehicle for your lot without having to go to auction\n Aftermarket/Accessory Sales carry nice profits\n Extended Warranties / Tire & Wheel Protection\n Finance Reserve\n Stair-step bonuses from the factory\n Referrals to friends and family\n Potential service department profit. If the customer was happy with the sales experience they are much likelier to service there as well.\n
- 1) The consumer may shop your numbers, but won't they shop anyway?At least you're in the game…\n "We miss 100% of the shots we don't take" - Wayne Gretzky\n \n 2) How often does a prospect buy the exact vehicle they inquired about? If the answer is 5%, then 95% need different pricing anyway - what does the initial number mean at that point?\n \n 3) Willingness to address price gives the consumer a positive feeling about the dealership. \n
- 1) The consumer may shop your numbers, but won't they shop anyway?At least you're in the game…\n "We miss 100% of the shots we don't take" - Wayne Gretzky\n \n 2) How often does a prospect buy the exact vehicle they inquired about? If the answer is 5%, then 95% need different pricing anyway - what does the initial number mean at that point?\n \n 3) Willingness to address price gives the consumer a positive feeling about the dealership. \n
- 1) The consumer may shop your numbers, but won't they shop anyway?At least you're in the game…\n "We miss 100% of the shots we don't take" - Wayne Gretzky\n \n 2) How often does a prospect buy the exact vehicle they inquired about? If the answer is 5%, then 95% need different pricing anyway - what does the initial number mean at that point?\n \n 3) Willingness to address price gives the consumer a positive feeling about the dealership. \n
- 1) The consumer may shop your numbers, but won't they shop anyway?At least you're in the game…\n "We miss 100% of the shots we don't take" - Wayne Gretzky\n \n 2) How often does a prospect buy the exact vehicle they inquired about? If the answer is 5%, then 95% need different pricing anyway - what does the initial number mean at that point?\n \n 3) Willingness to address price gives the consumer a positive feeling about the dealership. \n
- 1) The consumer may shop your numbers, but won't they shop anyway?At least you're in the game…\n "We miss 100% of the shots we don't take" - Wayne Gretzky\n \n 2) How often does a prospect buy the exact vehicle they inquired about? If the answer is 5%, then 95% need different pricing anyway - what does the initial number mean at that point?\n \n 3) Willingness to address price gives the consumer a positive feeling about the dealership. \n
- 1) The consumer may shop your numbers, but won't they shop anyway?At least you're in the game…\n "We miss 100% of the shots we don't take" - Wayne Gretzky\n \n 2) How often does a prospect buy the exact vehicle they inquired about? If the answer is 5%, then 95% need different pricing anyway - what does the initial number mean at that point?\n \n 3) Willingness to address price gives the consumer a positive feeling about the dealership. \n
- 1) The consumer may shop your numbers, but won't they shop anyway?At least you're in the game…\n "We miss 100% of the shots we don't take" - Wayne Gretzky\n \n 2) How often does a prospect buy the exact vehicle they inquired about? If the answer is 5%, then 95% need different pricing anyway - what does the initial number mean at that point?\n \n 3) Willingness to address price gives the consumer a positive feeling about the dealership. \n
- 1) The consumer may shop your numbers, but won't they shop anyway?At least you're in the game…\n "We miss 100% of the shots we don't take" - Wayne Gretzky\n \n 2) How often does a prospect buy the exact vehicle they inquired about? If the answer is 5%, then 95% need different pricing anyway - what does the initial number mean at that point?\n \n 3) Willingness to address price gives the consumer a positive feeling about the dealership. \n
- Mystery shop your competition - are they giving out pricing up-front?\n If yes, then you MUST to give it out just to stay even with the market... People who don’t get a price will assume the price is high.\n If you did get a price, how long did it take to get the information you requested? If it’s more than a few minutes, there’s more opportunity.\n What did that quote look like? Did it contain choices? Put a robust email vs. a boring, standard one every time and you’ll appear better from your email!\n If you never got a price, then you have an opportunity to get ahead of everyone!\n
- Mystery shop your competition - are they giving out pricing up-front?\n If yes, then you MUST to give it out just to stay even with the market... People who don’t get a price will assume the price is high.\n If you did get a price, how long did it take to get the information you requested? If it’s more than a few minutes, there’s more opportunity.\n What did that quote look like? Did it contain choices? Put a robust email vs. a boring, standard one every time and you’ll appear better from your email!\n If you never got a price, then you have an opportunity to get ahead of everyone!\n
- Mystery shop your competition - are they giving out pricing up-front?\n If yes, then you MUST to give it out just to stay even with the market... People who don’t get a price will assume the price is high.\n If you did get a price, how long did it take to get the information you requested? If it’s more than a few minutes, there’s more opportunity.\n What did that quote look like? Did it contain choices? Put a robust email vs. a boring, standard one every time and you’ll appear better from your email!\n If you never got a price, then you have an opportunity to get ahead of everyone!\n
- Mystery shop your competition - are they giving out pricing up-front?\n If yes, then you MUST to give it out just to stay even with the market... People who don’t get a price will assume the price is high.\n If you did get a price, how long did it take to get the information you requested? If it’s more than a few minutes, there’s more opportunity.\n What did that quote look like? Did it contain choices? Put a robust email vs. a boring, standard one every time and you’ll appear better from your email!\n If you never got a price, then you have an opportunity to get ahead of everyone!\n
- Mystery shop your competition - are they giving out pricing up-front?\n If yes, then you MUST to give it out just to stay even with the market... People who don’t get a price will assume the price is high.\n If you did get a price, how long did it take to get the information you requested? If it’s more than a few minutes, there’s more opportunity.\n What did that quote look like? Did it contain choices? Put a robust email vs. a boring, standard one every time and you’ll appear better from your email!\n If you never got a price, then you have an opportunity to get ahead of everyone!\n
- Mystery shop your competition - are they giving out pricing up-front?\n If yes, then you MUST to give it out just to stay even with the market... People who don’t get a price will assume the price is high.\n If you did get a price, how long did it take to get the information you requested? If it’s more than a few minutes, there’s more opportunity.\n What did that quote look like? Did it contain choices? Put a robust email vs. a boring, standard one every time and you’ll appear better from your email!\n If you never got a price, then you have an opportunity to get ahead of everyone!\n
- Mystery shop your competition - are they giving out pricing up-front?\n If yes, then you MUST to give it out just to stay even with the market... People who don’t get a price will assume the price is high.\n If you did get a price, how long did it take to get the information you requested? If it’s more than a few minutes, there’s more opportunity.\n What did that quote look like? Did it contain choices? Put a robust email vs. a boring, standard one every time and you’ll appear better from your email!\n If you never got a price, then you have an opportunity to get ahead of everyone!\n
- Mystery shop your competition - are they giving out pricing up-front?\n If yes, then you MUST to give it out just to stay even with the market... People who don’t get a price will assume the price is high.\n If you did get a price, how long did it take to get the information you requested? If it’s more than a few minutes, there’s more opportunity.\n What did that quote look like? Did it contain choices? Put a robust email vs. a boring, standard one every time and you’ll appear better from your email!\n If you never got a price, then you have an opportunity to get ahead of everyone!\n
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