AutoTrader Trade-In Marketplace?

[buicksalesguy]

Ed,

So your more worried about just selling more cars than enhancing your process in the floor to make more per vehicle sold?

This simple enhancement can have a nice impact on the bottom line.

If consumers are visiting less than 2 dealers before purchase - I'd be focusing on process on the floor. A solid process will build more value and not only yield you more per vehicle but more sales to go along with it.

Well said....especially us GM dealers where everything goes at preferred price and our only tool left to increase front end gross is the trade in....if the TIM process is implemented properly you will increase your front end average per copy and it has also helped our look to book...the low TIM number brings the customer back down to earth, not that they are going to give their car away but it makes it a lot easier to present the dealerships # on the trade and justify it after a proper demo and a well done TIM...market reports are also a solid tool to use for acquiring a trade...transparency is more important than ever in this biz so being able to show proof reinforces everything your telling your customer...we are not in the verde days anymore

 

[Jeff Kershner]

Anyone have any updates around their dealers performance with TIM?

I'm seeing what seems to be a slight increase in the dealers using TIM on the Maryland area. Of course this could be nothing more than my perception as I scour some of the local dealer websites. It's interesting to find dealers STILL using the TIM trade-in plug-in on their websites - after all the discussion around it. Obviously they don't not members of the DR Community :-(.

Come to think of it, I was on a few dealer websites from one of the more known/progressive groups in the US and took notice they too were using TIM on their dealer websites. Not only was the placement of their many many TIM banners and icons really bad, but they had it opening in the same browser/tap session - completely taking the consumer away from their own dealer website and placing them on the AutoTrader TIM page - https://tradein.autotrader.com

A dealer that I used to work and consult with, I too found them doing the same thing. I had to made a quick call with a few suggestions.

Who's using the TIM on their dealer website with success? From what I can see, there have been no changes to the online tool. IMO - TIM is NOT a lead gen/conversion tool for your website - it's a SHOWROOM TOOL. I always recommend not having TIM on your website as it's NOT a lead gen. At the very least, provide the consumer the option to ether use TIM or another trade-in form (Like PureCars Trade-in or even BlackBook or the few others out there). I also recommend a short video on your first page explaining the process around TIM to the consumer.


Again, any updates around their dealers performance with AutoTrader.com TIM?

 

[ed.brooks]

AutoTrader just released a case study which "details how an Oregon dealership uses the Trade-In Marketplace™ to enhance its trade-in process and acquire inventory."

"When Trade-In Marketplace came out, we were excited because it provided a valuation that we can validate – and especially because it's an instant cash offer and not just our opinion. An opinion is only worth what is behind it, and when it's backed by an actual cash offer, it's a much more powerful tool for us," added Bob Moore, general sales manager at Wilsonville Honda.

Here's the press release - Case Study: Honda Dealership Optimizes Operations with the Trade-In Marketplace


Here's how to get to the case study - Honda Dealership Optimizes Operations with Trade-In Tools

 

[ddavis]

Ed,

I had a similar process to use TIM. Like always, salespeople take the direction of least resistance. Unless you are able to enforce compliance, nothing happens. Sales Managers allowed the salespeople to ignore the process. Lazy salespeople and poor managers can ruin an otherwise good program.

Looking at foolishness, like that, help me to enjoy retirement.

 

[mattsoocool]

AutoTrader TIM contacts are not dealer exclusive. Prospects that fill out the TIM form are bombarded with calls, like you would get when you fill out a form for an insurance quote or mortgage inquiry. Sales reps occasionally are stressed out in working these leads as it becomes a full time gig.

 

[doddja]

I hear your pain...

You may want to consider a tool that keeps you the dealer in control of the process and the number. We believe the best person to determine the value of a trade is the dealer. Not a someone the customer never meets. Remember this is a relationship business. One between you (Dealer) and the consumer. You take responsibility for whatever number comes out of those services whether you like it or not. Not only do you have to explain it, somehow, but at times you have to defend it. Again, your reputation is on the line not the wizard hiding behind the curtain.

I am not going to write a commercial. However, NADA Used Car Guide has been developing a product to fix this problem and position dealers for the changing expectations of Gen-Y buyers. To set your mind at ease the cost is less than half of what TIM costs. The real value is the reduction in negotiations you will have and an enhanced customer experience. TIM sets you up to negotiate by hitting the customer with a very low number. Although some dealers like to be the "Hero" and counter the offer, Gen-Y won't give you the chance. They just walk away. In fact the average number of dealerships they visit is up from 1.9 in 2009 to 4.9 in 2014. They are having to go to more places to find a dealership they want to do business with. Keep in mind, Gen-Y will not conform to your way of selling, you have to conform to their way of buying. Old tricks are just that, old tricks. This generation is not going to stand for it and are actively searching alternatives, TrueCar is an example of that.

So enough said, f you want to take back control of the appraisal process and be able to leverage a respected brand to validate "Your" number contact me and I'll be happy to share with you what we have learned about new buying expectations and how to meet them without negotiation your profits away.

 

[Manny Luna]

We work with a dealer that does great with it. They sell between 15 to 23 cars a month.
If any dealers are thinking about using AT/MP , it helps to optimize the page and use the video to help drive traffic.
The internet sales people do a super great job working the leads and that's a big plus.

Value Your Trade In | Get More for Trade In

Official AutoTrader- How Much Is My Car Worth? Sell My Car in Corpus Christi TX

Official AutoTrader- How Much Is My Car Worth? Sell My Car in Corpus Christi TX

 

[Jeff Kershner]

Manny, any idea how many leads they are getting from the TIM plug-in on their website? Just the website only!!

I had a video very much like this one a few years back but it had little to no impact on getting shoppers to fill out the loooong form. I've never been an advocate of using TIM on the dealership website as a lead driver. I'd love to be proven wrong and see a dealership figure out how to make TIM into a lead driver on the dealership ship website.

Until then - as I have written many times on this thread already, TIM is a showroom tool and has very little business being on the dealership website as a lead driver.

 

[Manny Luna]

Manny, any idea how many leads they are getting from the TIM plug-in on their website? Just the website only!!

I had a video very much like this one a few years back but it had little to no impact on getting shoppers to fill out the loooong form. I've never been an advocate of using TIM on the dealership website as a lead driver. I'd love to be proven wrong and see a dealership figure out how to make TIM into a lead driver on the dealership ship website.

Until then - as I have written many times on this thread already, TIM is a showroom tool and has very little business being on the dealership website as a lead driver.

Jeff,

I will post more information on how the dealer markets the product and pull up some numbers you're asking for.

Thanks

 

[WilliamWalker]

Resurrecting an old post just to ad our experience with TIM. I work with 2 high-line stores that sell roughly 50-70 cars a month (70% used) that have TIM, they would average 4-8 TIM offers. The largest amount we received being 12 and the lowest 0. The dealer never kept track of the leads that came in from TIM so I have no idea if they converted or not.

They also had the showroom tool ($250 option) and I saw that they had used this feature 0 times in 6 months (as far back as I looked). Part of the reason is nobody knew what the tool was, and the managers did not really know much about the tool.