Price Indicator update: Top tips for Price commentary & Key selling points

We’ve recently made some updates to our Price Indicator tool on Autotrader. Our aim in doing this is to help you give buyers clearer context around each vehicle’s price. Making it easier for them to understand its value and recognise the additional benefits your dealership offers outside just price alone.

Some of the ways in which we’ve done this is to introduce two new content areas where you can speak to the unique value of your vehicles and dealership. In this article we will explore…

·      Tips for writing effective Price commentary

·      Tips for choosing your Key selling points

·      What content should be avoided in these new areas

If you haven’t had a chance yet check out this video to see exactly what has changed with Price Indicator.

Tips for writing effective Price commentary

Price commentary is a new content section that appears directly alongside the new Price Indicator label. It’s designed for you to be able to highlight the additional value drivers included in the price of your vehicle. We know that price is one of the most important details a customer looks at when they’re deciding on which vehicle to buy. Like all of us they want to be confident they’re getting a fair deal with their purchase. By having your comments alongside the Price Indicator label, you can give more context around your vehicles chosen price point which will help to build that confidence and drive a sale.

This content area will be especially useful if your vehicle is priced higher or lower than the market average.

Top tips

1. Make sure you include any information that explains the value drivers included in the price

   This is your chance to show the buyer all that this vehicle and your dealership can offer them. You want them to know that this is a great vehicle offering great value given all that is included in the price tag

For example

• Higher reparation standards

• OEM approved scheme benefits

• Additional warranties, insurance or roadside assistance that’s included

• Enhanced multipoint checks or inspections carried out

• Servicing or MOT before handover

• Money back or repair guarantees

2. It’s important to be as specific as possible here

You want to highlight exactly why this vehicle can command this specific price.

3. Build out your templates

This content can be templated at a dealership or brand-level, so you can apply it to multiple adverts instantly. If you have consistent value drivers that are included with every vehicle you sell, whether that’s excellent preparation standards which make your vehicles stand out from the competition, or money back guarantees that offer added peace of mind, take some time to set up your templates so you don’t need to enter these details individually for each vehicle.

Things to avoid

• Remember this is not the space to talk about offers or general details that haven’t influenced the pricing of this vehicle

• Vague claims that don’t explain added value

• General vehicle information that belongs in the full vehicle description rather than next to the price

• Anything that doesn’t help a buyer understand the chosen price point

Tips for writing effective Key selling points

While Price commentary helps explain the value behind the price, Key selling points help buyers quickly understand what makes the vehicle itself worth their attention.

This content area has been introduced as a dedicated space for you to highlight what makes your vehicle stand out. This gives you a simple way to put your strongest selling points front and centre. By highlighting the most important details before the full description, you can quickly show buyers what makes this vehicle special and help your advert stand out from similar listings.

You can add up to 3 things that will sit directly above your description. This is the space where you want to really highlight what makes this specific vehicle stand out.

Top tips

1. Ask yourself: what are the top 3 things you would tell a buyer about this car to make them want to buy it?

2. Try to be as specific as possible for example, instead of saying ‘4 new tyres’ say ‘4 new Michelin Pilot tyres’

3. Think about what makes this vehicle, rare, or valuable compare to others available on the market

Things to avoid

• Repeating standard specifications

• General claims like ‘great condition’

• Finance offers, discounts or dealership wide promotions

• Anything that doesn’t relate to this specific vehicle

These changes have been implemented based on the feedback we’ve received from retailers. We want you to give you greater opportunity to give context to your pricing, allowing you to spend less time discussing the price and more time discussing the merits of the actual car.

These changes will start rolling out on Autotrader from the 29th of September. But you have access to Price commentary templates now in Portal, so you can start creating these today

Head over to portal now to get your templates ready so you are in the best position to highlight the value you offer to your customers

FAQs

• What should I include in Price commentary

  Focus on details that help explain the value drivers included within the price of the vehicle. This could include higher preparations standards, recent work carried out, added protection, dealership benefits or anything that adds value for the buyer

• What should I avoid putting in Price commentary?

  Avoid generic sales messages, finance offers, discounts or anything that doesn’t directly explain the price of that specific vehicle.

• What should I use Key selling points for?

  Use them to call out the strongest reasons a buyer should consider your vehicle. Imagine you’re talking directly to the customer and think of the 3 things you would say first to help make a sale. This could include rare features, premium specification, low mileage, low previous owners, part replacements, or anything that makes the vehicle stand out from similar listings.

• What should I avoid putting in Key selling points?

  Avoid using vague phrases that could apply to any vehicle, such as ‘great condition’ or ‘excellent value’ unless you can support them with specific detail. Key selling points work best when they are clear, factual and unique to that vehicle, so buyers can quickly understand what makes it different from similar listings

• How are Key selling points different from the vehicle description?

  Key selling points are designed to give buyers a quick snapshot of what makes the vehicle special. The full description can provide more detail

• When will these changes be available

  These changes will start rolling out on Autotrader from the 29th of September. You can access Price commentary now in Portal to begin building out your templates.