Hint: It involves implementing a digital retailing strategy with messaging woven into it. And we’ve got a guide to help you make it work. SEE HOW
Regardless of how you price your new vehicles, the sales team must be able to demonstrate the value of them. This is one of the many ways the internet has changed floor sales.
If the customer wants a BMW 328i Sedan, you have lots of them with varying packages and options. Some of these features may be must-haves and some may be things the shopper definitely does not want. However, some of the vehicles in the shopper's consideration set will undoubtedly come with features that add to the price yet the shopper is not certain they need. The benefits need to be explained in order to help the shopper determine which vehicle is the best value for them.
This seems so obvious, yet I can't find a single BMW dealer whose website facilitates this decision making. Additionally, I'm sure I can walk into any store and find a salesperson that functions as little more than a query tool, "Do you want this or do you want that?" Of course this inevitably leads to the customer finding that the color they want comes with an option or package they already said they don't want, leading to the desire to keep looking for the perfect vehicle at other stores.
If your website and your salespeople cannot demonstrate the value of each package and option, you simply are not selling as many vehicles as you could be. Maybe the sport steering wheel with paddles is not worth $100 to the customer. However, if you can demonstrate at least some value in the fancier steering wheel, it may not be worth additional shopping to find the perfectly configured vehicle.
It's important to know how each feature can enhance quality of life and contribute to resale value. When resale value is considered, most shoppers are not paying full price for the options they receive full benefit from. If the customer is considering a lease, it is important to be able to discuss options, packages, and accessories in terms of what they add to the lease rate and how they benefit the shopper.
In the age of transparency, sales people cannot go around making this stuff up on the fly. When I began selling cars, the store was the information source. The shopper had very few alternatives from which to gather information. That is far from the case today. If you want to sell cars, you've got to be able to demonstrate the value of them, every little piece of them.