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Dominion DMS

"Get your ePrice" for new car inventory?

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#41
Alex Snyder said:
I just want to capture this part of your post. It is a key issue that is rarely talked about.
Click to expand...

I'm not letting you get away with a hit and run here mister, you're going to be required to share your thoughts on this. You've seen this from the upper management level's prospective :)

For sake of not repeating everything that you and DDAVIS said about this problem, I 100% recognize that this is a big issue. I've these things happen recently from floor guys:
A. punt a stone cold buyer, because buyers today look like the tirekickers of yesterday. [the way they don't say much and don't share information upfront]
B. get completely shredded during negotiation or lose all credibility upfront because they don't know the current marketing online for other dealers and are not intouch with the market. "you can't get that price anywhere" .. when the customer knows they can.

What are solutions to overcome this other than being an Internet store and not having "floor guys & internet guys"?
 
Dominion DMS
#42
Blake, you are hitting on an issue that so many managers ignore. Over 60% of internet shoppers go into a dealership without calling or emailing an Internet department. They have spent the same 19 hours doing research, online. In that 19 hours do you think that price was a concern? Not only have they determined the market value (the Internet), but feel they should be able to negotiate a figure below it. After all, you always negotiate at a dealership. They will not tell the salesman that they shopped online. "How did you arrive at that figure" will likely bring a blank stare or a lame comment. This is the disconnect and the salesperson and the manager agree that they are dealing with a flake.
 
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#43
ddavis said:
Blake, you are hitting on an issue that so many managers ignore. Over 60% of internet shoppers go into a dealership without calling or emailing an Internet department. They have spent the same 19 hours doing research, online. In that 19 hours do you think that price was a concern? Not only have they determined the market value (the Internet), but feel they should be able to negotiate a figure below it. After all, you always negotiate at a dealership. They will not tell the salesman that they shopped online. "How did you arrive at that figure" will likely bring a blank stare or a lame comment. This is the disconnect and the salesperson and the manager agree that they are dealing with a flake.
Click to expand...

I agree Doug, but I am not content with simply recognizing the problem. How do we mitigate this problem? Do we insist that every salesmen works in the internet department for at least month or two a year? I've heard that everyone has to sit on the trading desk at banking firms once in a while , and most have to start there. Toyota makes all paper buyers work collections first to prevent careless buying and helps them stay in touch with the risk's. Would this make sense big picture for a dealership, or did I take one to many five hours today?

Why don't some of you lurkers post your thoughts as well. Open invite to get your feet wet . ;)
 
#44
Blake, at my last store, none of the managers had any experience working in the Internet Department. The game looks easier from the cheap seats. They are content to believe that nothing has changed. Consider that a customer has seen special pricing online, what is his attitude when he gets hit at full boat?

It is much easier to control a customer when they are in front of you. Ever hear a sales manager say, "just get em in" when you just have an email address or a phone number?
 
#45
As a card carrying disiple of Shopper Sciences's John Ross, IMO, Get an ePrice is VERY VERY smart merchandising.

Ponder this Shopper Sciences chart and reap its rewards. "Top Influences of the Auto Purchase".
469-pricing-strategy-just-tactic-youtube-u0025252520-252520-2525e2-252580-2525aathink-252520auto-252520live-252520stream-2525e2-.jpg
 
#50
Going to jump back in here! I have been wanting to price our inventory, but also don't want to give up the Get ePrice button to entice the consumer to submit their info. dealer.com is now changing how you can price your vehicle and will include the incentive in the pricing automaticly. For some reason they have not been pulling our invoice price, but are going to start next week. (Actaully they are going to pull the "commissionable cost of sale" so that all RO charges and other charges are absorbed.)

With that said, what we are doing is pricing our inventory as the best price on Used, then we have the Get ePrice button renamed "Duke Discount" and the wording "Our Internet price is our best price upfront with no hassle's. Click the Duke Discount to see if this vehicle qualifies for any additional daily discounts!" What we do IF they ask about the discount is give a $250 off the posted price. This has worked very well for us so far, and we explain our market value pricing, people are very receptive.

That is somewhat our work around to have the best of both worlds, giving a price, and using the Get ePrice. Once DDC gets our invoice correctly pulling, I am going to start pricing more new inventory and pad it to use the $250 discount if it comes up.
 
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