Using a Flat Pricing and a Priming Strategy to Increase VDP Views and Conversions
Flat pricing is where you would price the car at a flat price like $15,000 instead of $14,995, it’s a strategy that I’ve used to increase Used Car Inventory VDP views. Basically by Flat Pricing your vehicles you get them to show in 2 price buckets instead of one. A very higher percentage of consumers go to sites like Autotrader and do a search for a price band like $15000-$20000, so if you price your car at $14995 you miss that search for $5.00, by pricing at $15000 even you get both shoppers, the one that might search $10000-$15000 and the one that shops $15000-$20000. I have been using and studying this price strategy for over 2 years now and I wouldn’t price a car any other way. Here is a webinar that will show all the benefits of Flat Pricing some of your Inventory.
Prime your fresh vehicles by posting them initially at a higher price and then when they hit the lot after recon drop them so they show as ‘Just Reduced”. Do this again a few times as they age to get the attention of anyone who marks them as “watching” as this will trigger a price drop alert to them.
Flat price where ever you can to show in 2 price buckets instead of just one! Never ever price a car again at $19,995 or $9,999!