Edmunds Trade-In Tool Touted By PCG Research - AutoSuccessOnline

Edmunds Trade-In Tool Touted By PCG Research

The dealer-centric trade-in tool by Edmunds provides a smooth customer experience, outlined in the PCG Research Report.

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.”

PCG Research

You May Also Like

Edmunds Report Reveals Shrinking Selection, Fewer Affordable Options for Shoppers in the Used Vehicle Market

Used vehicle prices have slightly cooled from all-time highs, but a number of headwinds continue to create unfavorable buying conditions in the used market for consumers.

Analysts say used market offers compelling value compared to new, but price-sensitive or pickier consumers might not find what they're looking for

Used vehicle prices have slightly cooled from all-time highs, but a number of headwinds continue to create unfavorable buying conditions in the used market for consumers. According to the Q1 2023 Used Vehicle Report released by the car shopping experts at Edmunds, and the data collected by Edmunds' analysts:

Dominion DMS Integrates with ProMax

Dominion DMS announces integration with ProMax to give dealers various options to increase efficiency and profitability.

Team Velocity Announced As Newest Genesis Certified Website Provider

Team Velocity has announced a strategic partnership with Genesis as the manufacturer’s newest website provider.

Rapid Recon Bridging Broadens Group Dealerships’ ‘Economies of Scale’

Bridging “brings new economies of scale” to group enterprises managing and operating multiple car dealerships, said John Canales, Senior Vice President of Sales for reconditioning software and services company Rapid Recon.

One View Hires Industry Veteran Jeff Lippold as VP of Sales

One View announced the appointment of Jeff Lippold as the company’s new Vice President of Sales.

Other Posts

Announcing the 2023 AutoSuccess Women at the Wheel Honors

The third-annual awards program honors women from across the automotive industry.

Ed Morse Automotive Group Acquires Chevrolet Dealership in California, Missouri

The Ed Morse Automotive Group announced that it has acquired Putnam Chevrolet in California, Missouri.

Space Auto Launches Game-Changing New CRM Software With AI Responses for Auto Dealerships

Space Auto announces the launch of the first-ever centralized CRM technology for retail automotive.

Nominations Open for TechForce’s 2023 Techs Rock Awards

Five professional technicians will be recognized nationally for outstanding contributions as role models in their shops and communities