When you brand your price, you’ll gain credibility, while shoppers gain confidence.
The best price model – made better.
While it’s generally understood that car shoppers don’t like to negotiate, we’re also learning that they still expect it. Many dealerships eagerly pushing a “best price” model in recent years are finding that shoppers who don’t have the chance to negotiate (even though they’d prefer not to) are often skeptical that you’re really offering the “best price” available.
As this article from Driving Sales explains, one effective way to bridge that trust gap may be “branding” your price.
It means exactly what it sounds like: weaving best price language into your larger marketing communication strategy. For example, you might want to develop an actual product name for your price, which includes your dealership name, such as “ABC Motors True Price,” or Anytown Kia True Deal.” Attaching your larger dealership brand to the best price concept shows that you’re taking responsibility for the legitimacy of the best price claim.
When you brand your price, you open up an opportunity to educate consumers. Once you’ve proudly claimed that you offer the best price, you can then – quite logically – explain why it’s important to you to do so. It’s a chance to position yourself as a shopper’s advocate, rather than an adversary.
Branding your price also offers a competitive edge. Consider explaining – in a short video, printed piece, and/or section on your website – why buying from your dealership is a good idea, and why you’ve adopted the best price model. Then, describe what they can expect beyond that exceptional price. Of course, customers leave the lot with the car of their dreams. But they may also drive off with free or discounted services, coupons to shops in the area, a great customer experience, and anything else you think may give your dealership an advantage over the competition. It’s a great way to tell shoppers that your price is the best, because your dealership is the best.
By branding every aspect of your marketing efforts – even your price – you maximize your credibility, give shoppers more confidence, and boost your chances of being viewed in the most positive light possible.
You can read the full Driving Sales article here.