Companies waste an estimated $6.6 billion on unused software in the U.S. every year. With more options than ever, finding the right software for your dealership can be a challenge. How can you cut through the clutter and make sure your software dollars are well-spent? Download your free step-by-step guide to successfully navigating the software jungle. DOWNLOAD GUIDE
I’ve often advocated in my blogs the benefits of quoting a price to customers who submit leads with a price inquiry. If the customer is submitting leads to more than one dealership, not providing the price will likely eliminate you from consideration.
Yet, according to CNW Marketing Research, 70.5% of people finance their cars. That means the vast majority of Internet leads will take the price quoted to them and then try to determine what their monthly payment will be. As we all know, monthly payments can vary based on the consumer’s credit score, the dealership’s finance programs and the specific vehicle the customer wants to buy. So the customer searching for the lowest priced vehicle today may still not end up with a vehicle that fits within their monthly budget for the next 60, 72 or even 96 months!
If we can move the conversation from price to payments, we can identify the right vehicle earlier in the process, saving the customer time and aggravation, and saving the dealership gross. One way to shift the conversation to monthly payments is to offer and promote payment—and shop-by-payment—marketing tool on your dealership’s website. A shop-by-payment tool allows consumers to search your inventory based on what their ideal monthly payment is and displays inventory based on real, credit-qualified payment quotes. An estimated or teaser quote can set the wrong expectation, but one based on the customer’s actual credit and the dealership’s finance programs sets both the customer and the dealer up for success.
Allowing consumers to shop-by-payments on your website offers the following benefits:
Providing a shop-by-payment tool helps to engage customers, keep them online and bring them closer to the sale. Today’s payment marketing technology delivers real benefits to both dealers and consumers, resulting in high-quality, credit-analyzed leads that close at rates much higher than traditional Internet leads. To see a demo, visit www.anywheremotors.com