At Digital Dealer 15 (#DD15) Paul Nadjarian, Mojo Motors Founder & CEO, presented to dealership executives and managers on techniques to drive urgency online. Dealerships already excel at driving urgency in the dealership and by phone.
“That’s a great car, I just had someone take a test drive this morning.”
“I have been getting lots of calls about that car, we just dropped the price $500!”
Using key words and phrases like that is nothing new for the sales team at a dealership. However, how does a dealership take these techniques to the internet to drive urgency? This can get a bit more complicated because it would seem driving urgency is best done in-person.
During Paul’s presentation at #DD15, he discussed a couple of ways other industries are driving urgency by attacking the fear of missing out (#FOMO) online.
Driving Urgency – Airline Industry
Airfares can cost as much, or more, than a monthly car payment or even a mortgage. So when you see a great deal, you want to hop on it before it gets too late because many airlines create urgency before you even begin booking a ticket.
On Virgin America, for example, when you begin checking out, there is a timer counting down the minutes until the deal expires. American Airlines also drives urgency by showing you how many seats are left at a specific price.
Driving Urgency – Real Estate Industry
Buying a house is very much like buying a car. The process starts with people shopping around, trying to get an understanding of the market and determining their needs. From there, they start taking a closer look at one of these major purchases whether by test driving a car or taking a tour of a house for sale.
Aside from negotiating final prices on a car or house, one of the biggest pain points for shoppers is the #FOMO. RE/MAX shows properties that have recently sold on their website. Imagine seeing a lakefront property you wanted to buy with a big fat sold tag. You’d probably be pretty upset and, as a result, be more likely to buy the next lakefront property without too much delay.
Driving Urgency – Automotive
Mojo Motors takes elements of successful techniques used by sales teams and translates them into an online experience so shoppers feel that sense of urgency. We show total price drops, how many other people are interested in a car and even the exact date when a price was dropped. From there we follow up with email remarketing to bring you back to the website.
Keeping shoppers informed with market data like the average total price drop before a car sells and how long a car sits on the dealers lot drives urgency. Imagine seeing a used Honda Accord you love with three price drops and a total price drop of $1,000. This information tells you it’s going to sell soon and that you need to make a move.
If you couldn’t attend Digital Dealer 15 and want see Paul’s entire presentation, download the deck here.
If your dealership is interested in using Mojo Motors to market your dealership’s used car inventory, learn more here.
Written by Max Katsarelas