Pricing proof points like Kelly Blue Book (KBB), NADA, and packages help consumers know they are getting a fair deal on a vehicle. They provide factual information to back up why the vehicle is priced the way it is. In fact, 78 percent of consumers will not purchase a vehicle without some sort of 3rd party pricing proof points.
Why should you consider pricing proof points? Let’s break it down.
3 Ways Pricing Proof Points Can Help Your Dealership
1. Build Value with Customers
Customers want to see why the car that they want is priced the way it is. With pricing proof points, customers can see that it’s under the KBB value, as well as explore the packages and features that are included in the price. Without pricing proof points, customers will try to get the sales team to drop the price by pointing out that they can get the same car down the street cheaper.
2. Sales Team Empowerment
Pricing proof points also help empower the sales team to sell the vehicle at the price that is listed. It gives confidence to the sales team that the vehicle is priced the way it should be because of the vehicle’s specific packages, features, or fair market range.
Many times, the first thing that salespeople think of doing to make the sale is to lower the price. Pricing proof points give the sales team talking and selling points to hold the price and create value to the customer. It allows them to be able to sell the car more effectively with all the information needed to address customer questions. Having internal market data can show salespeople that the car may not be performing well in the market but IS performing well in their dealership, and therefore they don’t need to lower the price to move the inventory.
3. Car Appraisals Tell the Story
Having great pricing proof points start in the appraisal process. Making sure that all packages, equipment, and features are added during the appraisal process ensures that your inventory has the best pricing proof points, reducing the need to discount off list price.
With MAXDigital, we provide pricing proof points that are well supported and will give both your sales team and your customers confidence. Learn more about what our auto sales software and auto valuation tool have to offer, and schedule a demo here.