7 Reasons to Stop Emailing Your Pricing

[john.quinn]

How do we define "old school"? Dated? Reluctant to change? Complacent? Backward?

With well over thirty years in the business, I'm no spring chicken. My daughters feel that with carbon dating they can determine my age within a few decades. I may be old but I don't consider myself as "old school".

DDavis, if you wouldn't mind answering a question, since you were probably there: which came first, the Spring Chicken, or the egg??

HAHA! LOL!

 

[ddavis]

My earliest memory dates back to my infancy. I remember having to tear my way out of a tow sack, swimming to shore and seeing a chicken.

 

[ajholland]

On the pricing topic, but a little different question. If you are in the group that gives a price when submits an "eprice" request, do you give the bottom price or a partial discount.

For example, if we have a car that is $10k and our bottom price is $8500, would you give the customer a quote of let's say $9200 or go all the way and give them the $8500?

 

[Jerry Thibeau]

On the pricing topic, but a little different question. If you are in the group that gives a price when submits an "eprice" request, do you give the bottom price or a partial discount.

For example, if we have a car that is $10k and our bottom price is $8500, would you give the customer a quote of let's say $9200 or go all the way and give them the $8500?

Aaron, Am I correct in saying that if our price was unrealistic you probably would not have called right? Here at Worden-Martin we try to price all of our vehicles competitively and that's the reason we are the number one seller of per-owned vehicles in this area. Our philosophy, fast nickles over slow dimes. Let me tell you a little bit about how our dealership operates (insert your inspection process, warranty, anything that puts your dealership above others). Now if you come in and look at this vehicle and don't like it, there's no price that you would want to buy it for, but lucky for you this is a really nice one and I know you're going to love this ______. And when you do, I won't let price be the reason you don't purchase. Now when are you more available to come in, now or later today?

That's what I would say. Talk price in the dealership, not on the phone. Value before price!

 

[ddavis]

On the pricing topic, but a little different question. If you are in the group that gives a price when submits an "eprice" request, do you give the bottom price or a partial discount.

For example, if we have a car that is $10k and our bottom price is $8500, would you give the customer a quote of let's say $9200 or go all the way and give them the $8500?

AJ, we used the velocity approach and didn't negotiate on either new or used cars. We didn't have a "get ePrice" or "make offer" button on our site. I shopped competitors every month on new cars. If they responded with a price it was usually $100 over pure net or less.

 

[Steve Sams]

dd...I read all you posts and agree with virtually everything you say. Tell me about the velocity approach. We get sent "get a quote" leads from GM. Those comprise a large majority of the leads we do receive. It seems to me that you have to determine the blood bath you are willing to take on the front and go with it...customize the response but talking around price just seems to get that dealership eliminated from the list of possibilities. I, too, shop competitors and it amazes me the bath some around here are willing to take on any given unit.

 

[bzweifel]

Aaron, Am I correct in saying that if our price was unrealistic you probably would not have called right? Here at Worden-Martin we try to price all of our vehicles competitively and that's the reason we are the number one seller of per-owned vehicles in this area. Our philosophy, fast nickles over slow dimes. Let me tell you a little bit about how our dealership operates (insert your inspection process, warranty, anything that puts your dealership above others). Now if you come in and look at this vehicle and don't like it, there's no price that you would want to buy it for, but lucky for you this is a really nice one and I know you're going to love this ______. And when you do, I won't let price be the reason you don't purchase. Now when are you more available to come in, now or later today?

That's what I would say. Talk price in the dealership, not on the phone. Value before price!

Jerry,

You should look into designing an app that does what you just did.
The user would input/select or speak "wants discount off ad price"
Then your app comes up with a phone script or email template like the one you just wrote to AJ.

You could come up with common objection or questions and make templates from the material that you are already using. Novice salesmen would love this and it would be a great refresher for veterans. I'll be the first to admit that I find myself having "salesmen’s block" if I’m doing too many things at once in Internet. I haven't rehearsed as much as I should recently. It would be nice to have something at my finger tips to save time and thought. I'm hoping that your phone ninjas manual helps me with this, but an app would be more convenient for me and more marketable for you.


Just a thought.

 

[ddavis]

dd...I read all you posts and agree with virtually everything you say. Tell me about the velocity approach. We get sent "get a quote" leads from GM. Those comprise a large majority of the leads we do receive. It seems to me that you have to determine the blood bath you are willing to take on the front and go with it...customize the response but talking around price just seems to get that dealership eliminated from the list of possibilities. I, too, shop competitors and it amazes me the bath some around here are willing to take on any given unit.

I bet Ed Brooks can explain velocity better than I can. Yes, people will drop their pants on quoting prices. What is amazing to me is the same dealers will not post a price on their website or third party sites because it would hurt their gross. Like the old commercial, "a mind is a terrible thing".

 

[john.quinn]

I bet Ed Brooks can explain velocity better than I can. Yes, people will drop their pants on quoting prices. What is amazing to me is the same dealers will not post a price on their website or third party sites because it would hurt their gross. Like the old commercial, "a mind is a terrible thing".

How many people actually buy the exact unit you quoted? Maybe that price is the "Hook" to get them through the door??

But if you advertise EVERY car at that price, then there is a legal obligation to sell every unit at that price.

At the end of the month, your grosses should be allllllll over the price. A bunch of weee little ones, a bunch of BIG BURLY ones, and you arrive at your average.

 

[ed.brooks]

I bet Ed Brooks can explain velocity better than I can. Yes, people will drop their pants on quoting prices. What is amazing to me is the same dealers will not post a price on their website or third party sites because it would hurt their gross. Like the old commercial, "a mind is a terrible thing".

Jerry actually explained Velocity about as well as I've ever seen anyone do it:

Our philosophy, fast nickles over slow dimes.

Velocity is about more than just volume - it's about smart volume. Pricing that is precisely dialed-in based on your exact market at this particular moment in time. It's a data-driven philosophy that relies on knowing exact market conditions and not relying on your "gut".

If I go any further with this, I'll definitely be into a sales pitch, so I'll stop here

If you'd like to find out more, give me a call anytime!