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Risk Reversal Works For Hyundai, Will Work For You
By Tim Gross - Internet Business Blog |
Auto sales in January 2009 were down 39% across the board… except for Hyundai, which had an increase in sales of 14%
This is no small feat… and it’s due to their “Hyundai Assurance” program, which allows car buyers to return their vehicle without penalty and without damaging their credit report if they lose their job or income while paying off the car.
From a marketing perspective, it’s important to note that this risk-reversal offer is a huge winner, while their competitors’ offers of just giving price discounts was not.
Take a tip from Hyundai; Find a way to remove the risk in your buyers purchasing your products, and you’ll make a lot more sales, even in a bad economy (especially in a bad economy).
It’s a lesson that Toyota, Honda, GM, Ford, Chrysler, and the rest are learning the hard way. Some of them are busy scrambling to emulate Hyundai’s offer now.
Topics: Marketing | Trackback URL