While the consumer care buying experience undoubtedly has changed in recent years, the automotive dealer’s journey continues to simultaneously evolve, bringing along a host of new challenges and opportunities for business owners. With changing consumer preferences, ongoing inventory and supply issues, continuing economic impacts from the pandemic and more, reality has hit hard that the car buying and selling process will never be the same. Autotrader and Kelley Blue Book are successfully helping dealers evolve along with the marketplace, by delivering powerful, proven solutions to help dealers connect with more in-market customers, grow their business with more deals, and ultimately thrive with increased profits amid the ever-changing automotive landscape.
“The journey may look different for everyone these days, as 42% of consumers believe they will conduct more, if not all, of the vehicle purchase online,1 but we are right there alongside dealers navigating this time of change in the auto industry with products that have proven to create trust between the dealer and the consumer and deliver more deals, period.” said Jessica Stafford, senior vice president and head of Autotrader and Kelley Blue Book. “Both Autotrader and Kelley Blue Book in combination with the rest of the Cox Automotive ecosystem offer unparalleled data driven solutions that are more relevant now than ever before, truly invaluable resources in dealers’ success as their journeys evolve.”
The numbers don’t lie: With more than 32 million combined unique visitors per month, Autotrader and Kelley Blue Book host a staggering number of in market shoppers on the most effective advertising platform available. What’s more, their lead close rates are 68% higher than the competition, with gross profit per lead one and a half times higher. Autotrader and Kelley Blue Book are better together, offering innovative solutions that produce real results, drive quality engagement and leads, provide more data on the consumer and help dealers close deals faster with more profit.
Below are some key solutions from Autotrader and Kelley Blue Bookthat will be featured at this year’s NADA show – all designed to help dealers succeed now throughout 2022 and beyond:
- New Car Custom Order – The way consumers shop for new cars has rapidly changed with the recent inventory shortage. With 56% of consumers reporting that they’re open to custom ordering a new car from a dealer through Autotrader, this all new product captures new car leads from shoppers interested in custom pre-orders, connecting and enabling customers to order a new car straight from the dealership and not limiting sales to what is already on the dealership lot – an especially invaluable resource in today’s market.
- Predictive Insights – Know exactly where shoppers are in their buying journey with predictive insights ranging from preferred make and model to predicted trade in vehicle and when they will likely purchase. With the amount of data available on the consumer, Autotrader can determine shoppers that are ready to buy and accurately predict that they are 12.3x more likely to purchase in the next 30 days. With Listings Buying Signals, dealers are able to prioritize those ready to buy, improving efficiency and margin. Consumer insights and analytics products like Listings Buying Signals and nVision provide reporting that makes it easy to see the dealership’s digital advertising ROI, with the performance, market, audience and vehicle inventory data needed to optimize results.
- Omni-Channel Retailing: With tools like My Wallet and Accelerate My Deal that streamline the online experience, Autotrader makes it easier to get more deals done in 2022. My Walletenables consumers to shop based on their personalized information that gives the shopper the most accurate “all in” pricing and provides dealers with more information on the consumer. For dealer’s who have Accelerate my Deal on Autotrader, Consumers are 5x more likely to submit a deal enabling Autotrader to send more deals to dealers than ever before.b2b.autotrader.com/dealer-marketing/automotive-digital-retailing/
- Digital Marketing: Reach more shoppers with our enhanced display solutions that leverage Cox Automotive’s data to target the right audiences at the right time. With eLot, Skyscraper and Advanced Ads, dealers can create customized campaigns and audiences on Autotrader and Kelley Blue Book’s KBB.com as well as off-site to expand their audience.
- Cover My Car Warranty – Deliver peace of mind for consumers and give them the confidence they need to move forward with a purchase from the dealership. Dealers can merchandise their existing limited warranty program or purchase a discounted limited warranty product to display on their listings.
“Autotrader is exemplary when it comes to customer support and partnering on relevant solutions to help grow our merchandising and sales business,” said Shawn Flynn, chief operating officer for Phil Long Dealerships. “They evolved from vendor to partner at the start of the pandemic and have been an essential contributor to our record sales growth.”
Kelley Blue Book
- Instant Cash Offer – Stay ahead of the competition by acquiring the right cars at the right price, directly from consumers, to grow business. Kelley Blue Book Instant Cash Offer is an online vehicle offer solution that allows dealerships to acquire inventory directly from transaction-ready consumers, lowering acquisition costs and improving the bottom line.
- Featured Auto Repair Center – KBB.com‘s Service & Repair Guide connects service shoppers with dealership service centers they can trust. As a Featured Auto Repair Center, grow the service business and increase fixed operations revenue with simple, cost-effective, 24/7 service department marketing on KBB.com.