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Jun 15, 2011

Jeff - great post! and Joe Pistell your observations are spot on. In an effort to garner more "quality" leads, dealers are often tempted to sign up for these things, and have no idea what the ramifications are. The Internet Manager goes to the GM or owner and says "we have an opportunity to get these great leads and only pay for the ones that buy". No more questions asked...

Joe Hobbs · Jun 15, 2011

I have the Edmunds contract sitting on my desk for both stores.... I not going to sign do not think it is worth $3,000 for a 15 miles radius around the stores.....Then they want me to sign paper that i declined it sorry not doing that either....

Jun 15, 2011

I'm not so sure about this. We already tell all ZAG partners what our price is (USAA, etc) what's wrong with one more? (Truecar.com)

I put a lead in myself from truecar's website to track the process. going to get more data. Has anyone else seen any real numerical flaws here?

Jun 15, 2011

In other words... "how great is this lead?"

Ask Edmunds to limit the payout time to 2 weeks. NOT.

Ask edmunds to limit it to a test drive based on the vehicle chosen. NOT.

Ask edmunds to de-dupe itself if the vehicle purchased did not match the edmunds up. NOT.

Ask edmunds to de-dupe itself if the buyer sent in another lead from another site that was newer than the edmunds lead. NOT.

Ask edmunds to de-dupe itself if the buyer sent in another lead from another site that created a test drive (a physical visit). NOT.

Dealer beware this model.
Consumers are everywhere, there are shopping sites everywhere, buy into this model and your ad costs PVR can explode.

Jun 15, 2011

Dealers, beware the EDMUNDS CASH trap.

Edmunds is a research site, NOT a purchase decision site. Shoppers here are just beginning their MULTI-MONTH journey.

What if you get a lead from edmunds on a Nissan Juke ('cuz it's cute) and 4 months you sell her a Chevy Cobalt from your Presidents day sale in the local paper.

On paid services like edmunds, the offer of "pay us only if you sell" is what we want to hear, but buyer beware, look deeper! You're NOT paying for an up, you've created an open door for an outside party to scour through your records and ADD MORE DOLLARS to your ad costs PVR.

Jun 15, 2011

Jeff, what is the reference to PureCars in the article "PureCar already claims to have over 40% of all transactional data In the United States." How does that play into this?

Jun 15, 2011

Dealers that sell for a loss on the front end make it up in F&I.

Jun 14, 2011

Great explanation Alex.

There has to be so many people (dealers) who have no idea this is happening to them & what it means to them as well.

Also, can you expand on how the people at TrueCar intend to make this "change" from the service they provide? (and I want your interpretation, not their fluff answer, I know your explanation will be sans garbage!)

DevlonC · Jun 14, 2011

I looked into the Zag deal because they run the USAA's buying service. They charge $300 a car you sell and most of the dealers are pricing their vehicles way below invoice. Something here doesn't make sense.

Jun 14, 2011

I think its a Double-edged sword. Edmunds is one of the top vehicle research sites and normally has good to decent leads but yet they pull all our data to "help" the customers get a great buy and open up that lovely can of worms.....

Anthony Stanley · Jun 14, 2011

Jeff, Great story! I don't understand why dealerships feel the need to pay someone to help them give aaway gross profit.

Jun 27, 2011

I'm calling BS! You just wanted my desk

Jun 27, 2011

Have to say great job with this article - on the vendor side, always great to read every perspective!

Jun 27, 2011

Have to say great job with this article - on the vendor side, always great to read every perspective!

Jun 17, 2011

Great job guys. Being on the vender to dealership side for ten months, few months vender to OEM, Couldn't agree with you more Alex. Most of my vender OEM dislike Was due to my Ignorance. With my ignorance I have a lot to go around. .)

Jerry Thibeau · Jun 13, 2011

Great article guys!

Jun 13, 2011

I hated to see you leave, but loved to watch you walk away. Wait.. that's not right. Let me try that again. Hated to see you go, but glad to have you STILL on our team, just a little further away. Good thing AIM works just as well from Va Beach to Burlington as it does from the receptionist desk to the smart manager's office. Thanks for all your support!

Jun 13, 2011

Great interview and article from @axsnyder and @JoePistell What’s Difference Between the Dealership and Working as a Vendor? – DealerRefresh

bpulseadmin · Jun 12, 2011

June 10, 2011 - (Burlingame, CA) – CarWoo!, the only true online marketplace for car buyers and sellers released results from their MarketPlace data, which consists of both real time transactional data and behavioral data which occurred during the course of a car purchase, showing that 54.6% of the time the lowest price offer was not the one selected by the buyer (if the cases where buyers received only a single offer are eliminated, the rate of acceptance of an offer not the lowest increases to 57.5%).

In addition to the offer specific data, behavioral data based on reviews by buyers also supports the fact that price is not what drives a buyers opinion. When buyers were highly satisfied and gave Five Star reviews, they ranked professionalism of the dealer as the most important factor 47% of the time and competitiveness or price only 14% of the time. When buyers were highly dissatisfied and gave dealers One Star reviews they gave Unprofessionalism as the reason 44% of the time and blamed price only19% of the time.

Only in the case where buyers gave “neutral” Three Star reviews did price become the driving factor, being ranked as the primary factor for the rating 52% of the time. These reviews, while being assigned Three Stars, were actually negative in tone, much more akin to a grade of a D than of a C.

A complete analysis of all available data shows that there are four major elements that go into the buying decision for a car. In order of importance, these are:

• Professionalism of the dealer – Engagement, responsiveness
• Fit of the vehicle – How close the offered vehicle is to the buyer’s specifications
• Price – Competitive in the market
• Distance to the dealership

The CarWoo! MarketPlace data demonstrates conclusively that the behavior of the dealer is the primary determinant of the outcome of the transaction.

About CarWoo.com
CarWoo!, the only online marketplace for car buyers and sellers, was founded in 2008 by serial entrepreneurs, Tommy McClung, Erik Landerholm and Michael Young. It is the only online marketplace where buyers remain anonymous and dealers are ensured buyers who purchase within two weeks 80% of the time. With early funding by Y Combinator, CarWoo! is based in Burlingame, CA and is now funded by Blumberg Capital, Comcast Int

Jun 13, 2011

I can't disclose which of our dealers is using this, but I've seen the numbers ad there is no question this program converts. Rusty has been hard at work, and this soft credit pull technology is amazing. Thumbs up.

Jun 11, 2011

Any dealers with this feature live on their site yet?

Mar 16, 2012

I was really anxious about getting a new car, but it was time to get rid of the old one and time to get a much better one. Luckily, I was able to find a perfect dealership to help me in Houston. I did some research and learned that I needed a BMW. I could afford one, and why not get the most luxurious car you can afford? I went to Momentum BMW and left with the ideal car for me. With help from <a href="Texas Dealer Archive - Car Deal Expert">Momentum BMW Houston</a>, you will walk away with the very best car. It is best to check out the new BMW car that has been released lately.

Jun 17, 2011

We have found that if you provide engaging video content that is relevant to what the customer is looking for you can gain their attention for 2 to 3 minutes. We recommend using Traditional Media (TV, Radio, Print) to make customers aware of your "Unique Selling Proposition" and funnel them to digital media to educate them about what sets your dealership apart from the competition. Here is an example of a TV spot designed to create awareness of the dealership's U.S.P. and drives customers to your website and then 2 minute website video that educates the your potential customers about Lifetime Warranty.TV Spot: TitanDealerGroup Video: TitanDealerGroup

Jun 10, 2011

@jeff gotta have them moving pictures!

JCollins · Jun 8, 2011

Rob you nailed it. I'm wondering how many dealers out there are thinking out of the box in this manner or even recognize there own USP's. Let alone leveraging them digitally. While reading your post I was wondering when the video hook was coming and then BAM! Nice job Bro'

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