Selling cars is a tough, competitive business. Incentives have been an important sales tool for decades, and are so ingrained in the business that, whenever sales slow, incentives are a reliable way to keep vehicles moving off dealer lots.
However, the majority of Original Equipment Manufacturers (OEMs) would rather not rely on incentives. These bonuses are driven by the need to match competitor pricing, but OEMs fear these offers will result in a race to the bottom.
The solution seems simple: replace outdated one-size-fits-all purchase bonuses with customer-centric initiatives. These smarter incentive programs, tied to the priorities of the individual car purchaser, replace blanket offerings based on a region or car model.
Personalized incentives have two advantages:
- appeal to buyers who want to feel they are being heard in the sales process
- responsive to local conditions and sales targets, which means dealerships can better manage inventory and revenue flow.
It is time to move to the future of incentives. Read how automated management and assessment systems can maximize your incentive programs.