We’ve all seen the quintessential fishing reel and bait when referring to rewards and giveaways;
Convincing people to take action by offering them something free does work. But why?
It really comes down to human beings and the mental triggers that create response. People love novelty. The concept of something new releases dopamine in our brains, and the possibility of pleasure is what encourages us to take action.
This is why so many companies release one product after the next and only change it a very little bit. It makes people happy to have the next new thing. And I’m here to tell you that you can use this concept to sell more cars and also make your customers very happy, all at the same time.
I often hear dealers say that gifts and giveaways drive traffic to their lots, but they won’t help to convert into actual sales results.
Of course, what it really comes down to is strategy and the ability to convert a lead.
If you are marketing to consumers who are in the market for a new or used car, the key is to get them in for a test drive, and let your sales team do the rest. Since the average dealer only closes an average of 12% of their leads, the best approach is to increase the amount of hot leads that show up on the lot and maximize every opportunity.
While almost all dealers have used incentives, many dealers don’t realize that there are innovative ways to integrate them into everyday business to create new sales opportunities and increase the lead show rate on a regular basis. Feeding your dealership with opportunities that normally may have been missed is the goal.
Click below to read the full article: