LotLinxLotLinx
Menu
  • Products
    • LotLinx /AI/ 50
    • LotLinx Smart Pricing
    • LotLinx VIN.drop
    • LotLinx Photo /AI/
    • LotLinx AMP
    • VINtv
    • TURNx
  • Tools
    • LotLinx VIN View Optimizer®
    • LotLinx Inventory Report
    • LotLinx Competition Analysis
    • LotLinx Markdown vs. Selldown Graph
  • Results
    • By Dealer
    • By Brand
    • By Region
  • Resources
    • Library
    • Webinars
    • Events
    • Co-op Brands
  • About
    • Our Story
    • Press
    • FAQs
    • Meet the Team
    • Careers
    • Partners
  • Blog
  • Contact
  • Sign Up
  • Log In
Schedule A Demo

When you brand your price, you’ll gain credibility, while shoppers gain confidence.

  • Home
  • Blog
  • When You Brand Your Price, You’ll...
LotLinx Blog

When you brand your price, you’ll gain credibility, while shoppers gain confidence.

Share this post

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.

Tags: Best Price Model, Car Buyer's Journey, Car Shoppers, DrivingSales, Vehicle Pricing

Related Post

MAY 9, 2018

Now it’s Personal.

FROM DESIGN NEWS: Emotional AI Makes Your Car Really Know How You Feel Automakers have...

00

MAY 2, 2018

All Roads Lead to /AI/

CCC Introduces AI Damage Detection for All Major U.S. Vehicle Types Artificial...

00

APRIL 25, 2018

Data Is the New Black

FROM HARVARD BUSINESS REVIEW: A Simple Tool to Start Making Decisions with the Help of...

00

APRIL 17, 2018

It’s a New Age for Virtual...

In this week’s Automotive Intelligence Radar, we’re talking all about the...

00

APRIL 11, 2018

Disrupting Automotive Trends

We are excited to introduce our revamped weekly newsletter, “Automotive...

00

APRIL 4, 2018

6 Applications of Automotive...

With top automakers such as Jaguar, Toyota, and Nissan investing in autonomous vehicle...

00

Please active sidebar widget or disable it from theme option.

LotLinx (pronounced "lot links")
The #1 automotive AI

Headquarters
LotLinx, Inc.
20 Grove Street
Peterborough, NH 03458
1-800-625-5469
Privacy Statement Terms of Use Careers Sitemap
© 2002, 2009, 2012, 2016-2021 LotLinx, Inc. All rights reserved. This software and User Interface is confidential and proprietary to LotLinx, Inc., and is disclosed under confidentiality and contractual obligations. Not to be disclosed, reproduced, or distributed without LotLinx Inc.’s prior written authorization. Protected by US Patent No. 8,818,857. Other Patents Pending

© 2002-2017 LotLinx, All Rights Reserved.