It is often said by the learned in the marketing field, that customers are not solely price motivated. This can be proven every day of the year, when people all around the world go to something we call “Convenience stores.” Think about it, when you're driving in your car, and that yellow light appears in your dash next to the red E, what do you find attached to nearly any gas station? ...Not a penny candy store. Furthermore, 7-Eleven…doesn’t have the best priced anything, but people still continue to flock to the establishment 24-7. I only say these things to help you understand the point…that (to 80% of people) price isn’t everything. I hope you are following me.
I don’t know about you, but I like to make money. Most business owners feel the same way as I. We can’t make money on a consistent basis if we constantly give our products away below market value. In our industry, we have one of two choices. We can either discount the vehicle, or build value in our 4Ps. (More on the 4Ps later.) I will admit that it is much easier to just go ahead and discount stuff, but to BUILD? Oh No! …That takes work! However, look at it this way; discount = less, value = more…are we motivated to benefit from the ease of less or the value of more?
Let's continue by discussing the term motivation. It is a process that elicits, controls, and sustains certain behaviors. Let’s begin with the end in mind…What is the behavior I’d like to elicit and sustain? Why... the purchasing of vehicles by potential customers of course. Wouldn’t it make sense to put a controlled process in place to create this behavior? Retail Businesses do it all the time. I got a coupon from Sears the other day for 10-50% off…I MIGHT use it IF it’s CONVENIENT for me…IF I need something from them in the time allotted. It is safe to say, that I am slightly motivated to shop at Sears when they want me to shop there. They have something in place to motivate/control my behavior.
Now…we could structure a deal with our customers for 10-50% off of vehicles, and still only experience a 20% increase in business. Another option is to sponsor a “BuildACar” campaign, or a “Onsite delivery to anywhere in the continental United States” promotion…and savor an altogether different business increase. What is the draw of a Car Show? Your dealership could host one once a quarter to boost sales another 20% because of the tactical information available to your customers.
All these are motivators:
- Build a car = Availability.
- Onsite Delivery = Convenience.
- A Car Show = Research.
And if your internet customers hate car salesman, then I suggest you change the way you do business…you can find three very easily executable proposals to do just such above.
This article actually was stimulated by a whole’nother thought/idea, nevertheless; creative thought bloomed. I sincerely hope that the words here are exercising your right brain as well…motivating you to sell more cars, more profitably, more often.
(Was that a stretch?) ☺