Price Changes

[BillKVMotorCo]

There has been a lot of discussion on the digital/technology side of these lately. Let's see if we can engage the sales floor folks who are lurking while also involving the technical side.

So when does everyone make price changes? Not frequency, but what date and time? Is there any data that suggests when the best day of the week and time of day is the best to actually execute the price changes? I have always heard that Monday nights are the best nights for people vegging on their phones. We also found that although Wednesdays are our lowest sales day, we actually get more internet leads on Wednesdays on average.

What have you found?

 

[frankis843]

I usually do mine on Monday mornings before the next DMS push.

 

[BillKVMotorCo]

I usually do mine on Monday mornings before the next DMS push.

I got a comment! Ha. Thanks, man. We do it Monday afternoon before the push. One of the reasons is in case someone shopping on Saturday or Sunday comes in first thing in the morning.

 

[jscole86]

Daily as adjustments are needed because we are on vAuto ProfitTime - prior to ProfitTime, we would shoot for Tuesdays. Monday's still tend to have a lot of working deals from Friday and the weekend. Plus they are Mondays (busy!)

 

[BillKVMotorCo]

Daily as adjustments are needed because we are on vAuto ProfitTime - prior to ProfitTime, we would shoot for Tuesdays. Monday's still tend to have a lot of working deals from Friday and the weekend. Plus they are Mondays (busy!)

Yeah, we have gotten away from JUST price changing once all at a time. Even without ProfitTIme, I think that's important. If you think your price is too high, what are you waiting for? Great point.