Customers have long been frustrated by the process of buying vehicles, as it relates to online shopping transitioning to in-store buying. Their biggest complaint is dealing with trade-ins and negotiating the value of their used vehicle. AutoTrader.com’s research found 63% of customers are dissatisfied with the trade-in part of the procedure. Autotrader.com’s Trade-In Marketplace offers a solution to that issue by better connecting the on and offline aspects of automotive purchasing.
“Car shoppers have access to more online resources than ever before,” stated director of operations for AutoTrader.com’s Trade-In Marketplace, Juan Flores, “and they are using them to choose their buying and trade-in opportunities carefully. By addressing the most painful part of the transaction—negotiating the trade-in—dealers can increase customer satisfaction significantly, and they can also stand out from their competition. It’s a win-win if they implement—and merchandise—the tool in the right way.”
Customers can use the Trade-In Marketplace via KBB.com (Kelley Blue Bok) and AutoTrader.com, along with select physical dealerships and participating dealer websites to receive offers instantly on their used cars.
Here are the are the four tips for dealers, suggested by AutoTrader.com in order to make life easier for the person with a trade-in and the dealer:
1. Feature your trade-in process prominently on your website. Make it well-known that you use AutoTrader.com’s Trade-In marketplace and that it will help consumers to get cash instantly on their trade-ins.
2. Create a welcoming atmosphere for the customer. Make it clear that you want their used vehicle, whether it would be a sale or trade-in.
3. Give them the opportunity to use Trade-In marketplace at a workstation or kiosk within your dealership, it they don’t already have a generated offer. Be prepared to give them assistance if/when needed.
4. Stay with your shopper. Allow them to walk with you as you evaluate their vehicle. Explain what you are looking for. The key is to make them comfortable and make them feel they can trust you.
Flores said, “Enabling consumers to be more involved in the trade-in process has proven to be a winning strategy that helps dealers increase customer satisfaction and stand out from the crowd. Enhancing in-store processes is not always easy, but best-in-class dealers take that challenge head on and use it to separate themselves from the competition.”
12,000 Trade-In Marketplace users were surveyed and 77% said they were pleased enough with their experience that they’d use it again and recommend it to others. Of those who had received and redeemed their trade-in offers by using the marketplace, two out of three felt the tool was effective at making the experience with dealers more streamlined, and was helpful in the negotiating process.
