Advertising VSCs and Payment Plans in the Dealership
Point of Purchase (POP) advertising is a great way to sell to your customers. It’s reported that 75% of purchasing decisions are made in-store or on-location, according to Point-Of-Purchase Advertising International (POPAI). In addition, in-store advertising can create as much as a 65% increase in sales.
You probably use POP advertising in your dealership to promote a number of things, most likely new vehicle models or deals. However, your dealership is also a great place to advertise vehicle service contracts (VSC) and payment plan options like installment payment plans (IPP) for customers who are at their credit limit when adding on a VSC.
Selling a VSC can keep your customer coming back for repeat business and service, so it’s important to share information about VSCs, educate customers and inspire them to buy all year round. The key to POP advertising is in knowing how, where and when to promote your messages.
HOW TO ADVERTISE IN THE DEALERSHIP
You’ll want to have plenty of print collateral around your dealership that informs customers on your payment options including VSCs and IPPs. The best ways to do this are through large, visual posters with easy to understand messages, flyers that include more detail and brochures that include all the details.
Having all three of these print pieces in different places will help ensure that your message gets seen and that intrigued customers have easy access to more information. In all these pieces, it’s important to communicate that your dealership offers VSCs and IPPs as well as all the emotional and logical end benefits to the user.
WHERE TO ADVERTISE IN THE DEALERSHIP
Posters should be highly visible, and if designed well, can even add an interesting aesthetic to the interior of your dealership. Place posters on the walls throughout your dealership—near entrances, bathrooms and coffee stations—where customers are more likely to pause and notice them with enough time to internalize a short message.
As for flyers and brochures, put these in spots where customer will have more time to read or where sales conversations are happening, such as waiting rooms, the service shop and at the desk of every sales associate and F&I manager.
WHEN TO ADVERTISE IN THE DEALERSHIP
All your new vehicle purchases are the perfect time to add on a VSC. People will want to give their loved ones the best of the best—which includes coverage for future unexpected damages and repairs! Also, anytime someone comes in your service shop for a repair and their warranty is about to expire is a great opportunity to push a VSC. Additionally, you can get more insights on when to sell VSCs to customers from our director of sales and marketing.
Get more dealership and VSC intel and advice from Budco Financial on LinkedIn, Facebook, and Twitter.