Consider Upgrade Programs
(An Idea for Financed Products, to Drive Higher-Value Sales With Financed Products)
You might know TaylorMade, the golf club brand of choice for Tiger Woods, Rory McIlroy, Dustin Johnson, Sung Hyun Park, and many others. They have instituted a unique upgrade program: TaylorMade customers who finance purchases have the option to keep or exchange their clubs toward the end of their payment plan. If they choose to upgrade to the latest models, their previous payments apply toward the new set of clubs.
What does this have to do with wheels, tires, and auto repair sales? The same approach could be applied for purchases that are financed. Consider going beyond trade-in credit, offering initial purchases on a pay-over-time plan, with the possibility of an upgrade.
The same approach could be applied to wheels, tires and auto service, as a high-value purchase. Consider going beyond trade-in credit on “old tires for new,” applying TaylorMade thinking to these purchases.
Looking for more?
Download the complete e-book to read all 8 key insights – drawn from leading E-commerce retailers across several industries, that will help you start growing sales: