The Price Drop campaign helps you by broadcasting inventory pricing changes to a larger audience. This campaign alerts shoppers who have previously previously viewed that vehicle.
Price Drop email example
Price drop campaigns are a triggered campaign. This means price drop emails only go out when you make a change on your website. Here are the steps that enable that to happen:
- 20/20 monitors your website daily, tracking your inventory and noting which users view what inventory at specific price points
- When a new price is detected, 20/20 compares it to the previous price. If the new price is:
- Lower than the old price by $250 or more, 20/20 calculates the savings between the old and new prices, prepping a new email version
- Higher than the old price, 20/20 does nothing
- Lower than the old price by $249 or less, 20/20 does nothing
- 20/20 then cross-references your website shoppers to see who may be interested in hearing about the new, lower price.
- This includes individuals who have seen this piece of inventory at a higher price
- 20/20 then sends an email to all valid shoppers meeting this criteria to alert them to the new, lower price (usually within 24 hours of the pricing change)
Tip: Request a price drop threshold change (e.g. you want Price Drop emails to send when the price drops by $100 or $500 instead of $250) submit a ticket.
To avoid bombarding your leads with emails, there are some built in precautions with Price Drop campaigns:
- In instances where multiple price drops affect a shopper, 20/20 sends a roll-up email that includes up to four price drop alerts in a single message
- If you drop prices in small increments with great frequency, 20/20 limits price drop emails to a minimum of one every other day, per person