How to Use Specials for Your Dealership
Have you ever noticed that all special offers have one and the same amazing psychological effect on customers? When people buy cars at special low prices the feeling that they waste their money disappears. Instead there comes a pleasure of money saving, a sweet awareness that they got the vehicle for free to some extent. Afterwards the buyers surely applaud to themselves for the choices they made. Why not to make this wonderful feeling work for you?
There are three different types of customers who have contrasting emotions and reactions to the specials:
- The first type is passive buyers who need special offers to make a choice. If a person likes several vehicles with similar characteristics, color, design, price, etc., but hesitates to choose, a special offer is a magic push that will definitely bring him to a purchase.
- The second type is deal-hungry shoppers who will go to the world’s end in pursuit of the cheapest item. These customers are powered with one thing only – a thirst for gain, thus, if a vehicle is not on sale, it has no value for them.
- And the third type is customers who behave “as the next man”. Such buyers don’t search for discounts, special offers or bonuses. They need only quality no matter at what price. But “as the next man” customer can catch a special just because all others do so.
All three types have one thing in common: special offers give them a good motivation for a purchase.
Why should you include specials in your marketing strategy?
All buyers despite of their financial status like to save money. Specials provide them with the relief and a rational argumentation why they purchased this vehicle. Customers unconsciously search for such reasons when they have doubts about the prices or choices made. Besides, some buyers can be more worried about losing a chance to save money than about having a new car.
How to create an effective special?
To make your special offers really good and catching use these simple rules and principles which already proved their efficiency with time:
- At least 15% discount. The customers’ psychology is structured so that they don’t react properly to the discounts if they are less than 15%. Some buyers think that 5-10% specials are not enough, while others got used to bigger bonuses. In any case, no one takes such special offers seriously.
- A special must be profitable. Unfortunately, many dealers kill their businesses by providing a huge number of specials. They think the more special offers, the more sales. But it doesn’t mean more profit. You need to set the limit on your specials. If you often provide 50-60% discounts, where is your profit? Besides, people get used to buy on sales in your dealership. If you always have specials, customers don’t pay attention to them or won’t buy your vehicles without discounts. Make special offers rarely. Or provide them all the time, but on a very limited inventory.
- A special must be reasonable. A discount / promotion / bonus must always have a reason. It’s important for the customer’s confidence. It can be a seasonal sale, the dealership’s birthday, Christmas, Black Friday, anything. You can also provide discounts if your customers buy something additionally. It’s a good reason as well. In this case, a buyer understands that this thing is profitable only now. It’s not a marketers’ trick.
- A special must have an expiration date. Firstly, it’s your authority and reputation that you risk to spoil if the customers realize that your specials just attract their attention and nothing more. Secondly, you need to give people a reason to buy now. It’s, say, deadline. When the buyers see that there is little time left before the special offer ends, they understand they need to react immediately, otherwise this chance will be lost.
- A special must be visible. If you make a special for a certain car make or model or a service – show it. Engage all possible means of advertising. Let your customers know about this wonderful opportunity to save on the vehicle now.
Autoxloo will help you stand out of the others and make your specials visible, appealing, and eye-catching. Our stickers and coupons will add the necessary color, fashion, style or even classics to the look and feeling of your special offers. Our Make-A-Coupon™ module is a great solution for those dealers who want to personalize their coupons and draw attention of new and existing customers to their bonuses, specials, and discounts.