- Apr 7, 2009
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Weekend Sales Event - Removing price from your wesbite
- Thread starter Jeff Kershner
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We did those - We were the first in Hampton Roads, it was in 2004, we sent out 500k mailers, we sold 104 units in 4 days, and grossed $480,000! And then it became crack and we kept doing it 4 times a year for several years. It came with headaches, and lots of them, but we kept going back cause it made money, even with the hangovers. Then everyone jumped in. Each time, the high got a little less, a little shorter. Market got over-saturated, buyers got wise, the high was gone! The last time we did it, we only sold 12 cars off 100k mailer, grossed $36,000. So we got rehab and quit.
As for the pricing, we use to remove the pricing. I always didn't like doing that, but then again no way you wanted your price up there, jacked all up, or the hired-gun really jacking the price, then the buyer goes home that night and sees a different price. It was a mess, then again, it made money and dealerships are cashed starved machines that have got to be fed, and honestly, who doesn't want to kick ass and make the money when you can. But I like to sleep at night, it was always bothered me how buried some of these people were before the ink dried.
Reputation - man there were headaches, the hired-gun promises, stips that never were followed and paper came back, we-owes we never would have agreed to that the hired-guns did, threats, and a whole host of crap. It could be a headache for months afterwards. I would be very scared to do one today, like back between 2004 and 2007, with reputation management.
Today, we don't do those super sales. We do targeted tasteful campaigns that conquest and data-mining, and we do not take down our prices. We may adjust prices to fair market retail even on aged inventory. But we do not inflate the prices as we use to in the old days of the super sales. And wow, I was amazed at some of the paper we did, and what the banks would advance back then. Explains a lot with what is going on today with the CFPB!
It all goes back to transparency as we all talk about now. Back then people weren't connected online like they are today. Today I still get mailers at home from other dealers, and when I asked how the sale went they say "great", i say how many did you sell, they clam up, can't answer, cause they don't want to. We have one dealer that does it 2x's a month, and I hear that the old client base is drying up, because they don't want to go there and deal with the cowboys.
As for the pricing, we use to remove the pricing. I always didn't like doing that, but then again no way you wanted your price up there, jacked all up, or the hired-gun really jacking the price, then the buyer goes home that night and sees a different price. It was a mess, then again, it made money and dealerships are cashed starved machines that have got to be fed, and honestly, who doesn't want to kick ass and make the money when you can. But I like to sleep at night, it was always bothered me how buried some of these people were before the ink dried.
Reputation - man there were headaches, the hired-gun promises, stips that never were followed and paper came back, we-owes we never would have agreed to that the hired-guns did, threats, and a whole host of crap. It could be a headache for months afterwards. I would be very scared to do one today, like back between 2004 and 2007, with reputation management.
Today, we don't do those super sales. We do targeted tasteful campaigns that conquest and data-mining, and we do not take down our prices. We may adjust prices to fair market retail even on aged inventory. But we do not inflate the prices as we use to in the old days of the super sales. And wow, I was amazed at some of the paper we did, and what the banks would advance back then. Explains a lot with what is going on today with the CFPB!
It all goes back to transparency as we all talk about now. Back then people weren't connected online like they are today. Today I still get mailers at home from other dealers, and when I asked how the sale went they say "great", i say how many did you sell, they clam up, can't answer, cause they don't want to. We have one dealer that does it 2x's a month, and I hear that the old client base is drying up, because they don't want to go there and deal with the cowboys.
Eley, Cowboys? You call jicky people cowboys up there? Say, democrat. As insulting as it would be, you can call someone a democrat. They are not protected minorities.
Cowboy sounds good to me. I bleed Burgundy and Gold, even if the Redskins sucked this year they are still my team. So I don't like Cowboys!
Just kidding Doug. How about "hired guns" - is that better for you?
- Dec 30, 2009
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- Yago
- Apr 7, 2009
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- Dec 30, 2009
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Referring to the fact that when sales slow down a lot of "bosses" will go for the "happy today" without caring for what happens tomorrow.
Furthermore if the GM is not the owner and getting paid on performance this happens more often than not.
I'm a Saints fan. I never liked the cowboys since Jerry Jones bought the team. I'm thinking real cowboys. My Mother's people raised stock since the late 1800's.
Hired guns works for me. I was at a store when they brought in some of those "hired guns". Talk about Rif Raf. If they are so good, why do they have to travel all over the country to sell cars. Dealerships need to check their driver's license and criminal records like employees.
- Apr 26, 2013
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- Howard
In today's transparent marketplace it's becoming increasingly more difficult to attract shoppers with tent-like promotions. Though I must admit in my days of running dealerships (pre-internet) we did move a lot of metal through these "tent sales."
Having said that, we know that today's shopping process belongs to the consumer. As they move through their journey we have many opportunities to engage with them. I do know however, if we do not provide them with the information they need when, where and how they want it, they will disengage from you and re-engage with your competition. In this environment of market based pricing, you are out of the market if you do not show the vehicle price for any reason.
Having said that, we know that today's shopping process belongs to the consumer. As they move through their journey we have many opportunities to engage with them. I do know however, if we do not provide them with the information they need when, where and how they want it, they will disengage from you and re-engage with your competition. In this environment of market based pricing, you are out of the market if you do not show the vehicle price for any reason.
- Apr 7, 2009
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Vehicle Scarcity can bend this absolute rule.
Dealer Promos can bend this absolute rule.
Dealer Profile can bend this absolute rule.
That being said, "no price = financial suicide" for 99% of the time
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