Edmunds, the online car shopping guide, turned to PCG Research, a trusted source by dealers for unbiased analysis of vendor products, to create a research report about its brand-new trade-in tool that is simultaneously dealer-centric and focused on the customer mobile experience.
For many shoppers, finding an accurate and quick valuation of their trade-in while going through the car buying process is just as important as finding the perfect vehicle. Edmunds streamlines this process with an entirely native trade-in tool that uses proprietary Edmunds data combined with artificial intelligence and predictive search to efficiently appraise a trade-in online, the company said.
Considering factors such as keystrokes entered, Google Analytics transparency and the need for immediate gratification from today’s mobile consumer, Edmunds managed to create a tool that leads to a Form Completion Rate of 40-45 percent, significantly higher than the 20-30 percent benchmark that is considered to be the goal for most forms.
PCG Research concluded that nearly half of all consumers going online to do their shopping are using their mobile phones. Dealers can utilize Edmund’s trusted brand name and optimized tool to provide a solution to a frustrating problem faced by many of their shoppers.
“One of the sticking points in the evolution of digital retailing is the trade-in process,” said Brian Pasch, founder of PCG Research. “Dealers need to rethink their strategy of presenting penny-perfect payments online if their trade-in tool does not provide realistic, transactable prices. Edmunds raises the bar with their trade-in tool and dealers should take notice.”
“Today’s web-savvy shoppers are conditioned for speed and aren’t likely to complete slow, clunky web forms,” said Nick Gorton, vice president of product innovation at Edmunds. “If dealers want to effectively attract, retain and convert mobile shoppers, implementing the most technologically advanced online tools is essential.”