The government’s Cash for Clunkers program seems to be jump-starting the auto industry (Ford reported its first sales gain in 20 months) and nudging consumers back into a buying mode.
Trade-in programs have been used in past years as promotions in the dental industry, but with the success of the Cash for Clunkers program, it may be time to resurrect them. For companies that are having trouble moving big-ticket items, a Cash for Clunkers style offer might be an effective way of boosting year-end sales. Whether you offer a rebate for competitors’ products or your own (or both), now may be the time to get those customers out of the window shopping mode and into a buying mode.