A new product from a company named MediaTrac™ is helping dealers reach out to customers with something called the BeBack™ program. Here, the company is helping auto sellers identify incentives that could help seal a deal, and assisting them in sending these to the customer at the right time.
The BeBack™ program’s basis is formed by statistics that MediaTrac™ outlines in an August 15 press release. The company claims that the average auto dealership can see up to 80% of customers leaving lots without buying. Of those, about half will eventually purchase from somewhere else, according to the company’s statistics.
MediaTrac™ says their six months of beta testing have proved that the initiative is extremely reliable in targeting the right consumer incentives and helping dealerships to retain more business. MediaTrac™ staffers cite examples where dealerships have sold a car day in the first 10 days of using this program.
So how does BeBack™ work? MediaTrac™ staffers refer to a “series of high impact communications” that they say are targeted to the individual consumer. The prospective buyers get an “incentive card” based on their feedback from previous communications. These cards generally offer discounts, rebates or special financing offers. The idea is that these little extras are often enough to get customers to come back and sign for a new or used vehicle, based on their existing interest and the work they have already done in researching the car purchase.
These kinds of incentives can be great for buyers, but only if they truly represent the best deal that the consumer can find on the market. If your dealer utilizes this program, be sure that an incentive card will really save you the money that it promises, and that the dealer is not just using a “bait and switch” routine to make a sale. The critical items to look at are line-items on the final sale price, as well as specific financing arrangements, where financing fees and higher rates of interest can add a lot of money to your total debt over time. When it comes to your next car purchase, look at the whole package to save the money referenced by any incentives that come your way.