Give Your Customers an IMAX 3D Experience!!!
Keith Theisen ??
Stop The Race To The Bottom * Get Lotlinx * Increase Turn & Profits LotLinx Florida Market Manager
The amount customers are willing to pay for an item increases as the experience improves.
Consider the cost of watching a movie... what are your options?
Free – check it out at a public library.
Free – wait 2 years and watch it on FX Movies channel
$1.00 - Redbox rental DVD .
$2.00 - Redbox Blu-ray near you.
$5.00 - watch it in 2D at a small theater during matinee
$6.00 - watch via your cable provider and rent a standard def version.
$7.00 - watch the 3D version from a small theater during a matinee.
8.00 - watch via your cable provider and rent a HD version.
$10.00 - watch at a movie theater in standard 2D after 5pm.
$12.00 - watch it at an IMAX movie theater in 3D during a matinee.
$15.00 - watch it at a movie theater in 3D after 5pm.
$18.00 - watch it at an IMAX movie theater in 3D after 5pm.
$21.00 - watch it at a 21 and over only dine-in movie theater 5pm
$24.00 - watch it at an IMAX, 3D, 21 and over only dine-in movie theater 5pm
$29.00 - watch it at an IMAX, 3D, D-Box, 21+ only dine-in movie theater 5pm
The moral of the story?
It's the same commodity but what changes is the experience!
The difference from $2 to $29 is over a 1,450% increase in price for the same commodity.
Obviously, a customer is not going to pay $145,000 for a $10,000 car. BUT will someone pay $500, $800, or even $1,000 more for a $10,000 car because they knowingly choose to because your "Why Buy From Us" messaging is compelling? ABSOLUTELY!
Autotrader recently surveyed over 4,000 car buyers and asked them what they thought about the current process of buying a vehicle.
You know how many people said that they liked the current process?
0.4%... 17 car buyers out of 4,000 like the way things are.
That leaves a lot of room for some smart dealers to change the process and win over A LOT of customers!
Think about the areas that customers say frustrate them the most... too much negotiation, lack of product knowledge from staff, time it takes to buy a vehicle, F & I paperwork, etc.
Address these frustrations and you just created an experience that is worth paying more for. This is the reason that customers will pick you over your competition.
Now think about the IMAX experience… it’s larger than life and exciting.
What can you do that will blow your customers away?
The test drive is one area where you can really sell the sizzle and add some excitement. Some stores have added test drive tracks to their back lots, others have created test drive centers where customers can drive and compare competitive vehicles all in one location. One store I know of even “brought the dealership” to the consumer and did test drives from the customers home or office.
Whatever you choose, make it fun and memorable!
Then communicate this experience to your customers clearly AND often AND across all of your marketing...
Make your dealership an IMAX 3D experience and then you can start selling tickets... the really expensive ones!!!
Post any memorable experiences and processes that you have seen dealerships implement in the comments below.
Stop The Race To The Bottom * Get Lotlinx * Increase Turn & Profits LotLinx Florida Market Manager
9 年Here is a link that someone just sent me about Tim Dahle Nissan and how they designed their new dealership around the customer experience: https://drivingsalesnews.com/part-2-how-is-tim-dahle-nissans-rooftop-built-for-success
Stop The Race To The Bottom * Get Lotlinx * Increase Turn & Profits LotLinx Florida Market Manager
9 年Just found this article on Extreme Chrysler Dodge Jeep Ram... they have had a customer centric mindset for 18 years and now they just took it one step further. https://drivingsalesnews.com/extreme-dodge-chrysler-jeep-establishing-a-clear-brand-message-and-amplifying-it/
President at CompareHRIS.com | PEOcompare.com
9 年Great post Keith, and you're absolutely right, the areas of frustration you listed are spot on and are the very things that suck all the fun out of getting a new car! The best experience we've had is when "the price was the price" which eliminated the haggling, however the process still seemed to take all day. Probably the most disappointing experience I've had is when the dealership agreed to add some upgrades to the vehicle after market. When I picked up the car I was very disappointed. Nothing I could do at that point... stuck with it now. If the dealership had told me upfront that the dash wood grain was a sticker or that the leather seats would look like they were wrapped up for Christmas I might have considered spending more for the vehicle I wanted. Would love to have a dealership that I could trust consistently through all our years of car buying. Please, someone, give us that great experience.
Stop The Race To The Bottom * Get Lotlinx * Increase Turn & Profits LotLinx Florida Market Manager
9 年Post other best practices that you have seen or heard of below...