If you’d like for more of your customers to be more comfortable with their options for financing and monthly payments, this is the TradePending TV episode you’ve been waiting for. We’ve got a simple marketing tactic that’s going to result in more and better qualified leads for your dealership.
Higher Rates = Increasing Uncertainty
Higher interest rates mean higher monthly payments, which means it’s gotten more expensive for people to get their next ride. People know this, which breeds uncertainty and will keep people out of the market longer than normal.
Try This…
But there’s a simple thing you can do that will set them at ease with what they can afford, and result in more at-bats for your dealership: Run a “What’s My Buying Power” campaign.
Just like you have, or should have, a landing page for marketing campaigns that drive people to value their trade, you should have a similar page to help people understand how much they can afford. With a “what’s my buying power landing page”, you can now run email and social media campaigns that drive traffic to this page, and here’s how this plays out.
How The Process Works
The customer starts with their desired monthly payment, answers a few basic questions around down payment, trade-in, credit, and contact info, and in under 30 seconds they’ve got their buying power and can browse your inventory based upon that. The customer is feeling good, and you’ve got a motivated first party lead.
Market To Your Customers
We’ve seen our clients have a ton of success with this, using simple plain text emails written by a real person sent out to their customers, segmented by purchase date, OEM, or other variables of their choosing. This campaign will also work with fancy marketing designed emails and social media posts and ads. Give it a try. We’ll see you next time.
