Finding the perfect car is only one part of the shopping process. For the serious auto shopper, what’s often more important is understanding the value of their current vehicle for trade in.
For some, it’s the first place to start: understand the money in hand so that you know how much you can spend. Dealers recognize that the website lead provided by the online shopper valuing their vehicle is a high-value, low funnel opportunity; with the best closing rate.
Dealers are spending significant marketing dollars to drive shoppers to their website so there should be three messages here: 1. Help the shopper who wants to value their trade-in have the best experience possible so they will complete the process; providing the lead, 2. Have an efficient process in place for the dealer to take advantage of that lead on an immediate basis, and 3. Provide the dealer with actionable data to know where the leads are being generated and how best to allocate future spend.
It’s critical to have a trade-in resource that shoppers find easy-to-use but equally important for dealers to be able to take those high quality leads and know unequivocally who is using the tool, and what marketing is generating those leads. That type of integration requires a native tool, not an iframe add-on.
With Edmunds’ updated tool, dealers now have a 100% native trade-in tool that is designed to provide them full transparency into their Google Analytics reporting and allow them to include additional tracking such as UTM codes.
Edmunds, a long-standing leader in the auto industry, invested significant time and money analyzing the consumer’s trade-in mentality and the processes they prefer to use. With that data, they have created a fast, frictionless appraisal tool that meets the shopper’s needs, AND because of its quick, easy-to-use design, it has an incredible form completion rate (FCR).