Announcing: LVL Up Auto - Vendor Management Platform

The future ability to help recommend options or a place to learn is a function of the way the database is designed and how you can see everything across the network from features, integrations, categories of the products as well as dealerships similar to them by brand, geo or vehicle sales. The reviews on the vendors and how the fit with the dealership based on their onboarding survey provides even more inputs.

I don't have a clear idea on how to leverage all of these yet, right now I am just focused on mapping everything in a way so when it's time to add higher level features everything it's ready. As you know Carsten, the boring stuff is what makes the cool stuff possible.
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Websites

Our first month with Motive, a web provider we chose because we felt it provided a site that was more customer focused rather than lead driven, produced the most website leads we had in a single month in the first month of use. It's almost like focusing on the customer produces more leads... :dunno:

Your stats are going one way this year. The YOY % gains across the board should be a thing of beauty

Announcing: LVL Up Auto - Vendor Management Platform

So you like :yabuddy:


Now I am on to the last major area of the items I have been in contact with our dealership users about, it's called Demo Up.

I am not going to spoil it yet but I am really excited about what our dealer body and I come up with. The guidelines form the initial draft to where they are right now has come a long way. This is a bottom up rebuild of how vendors connect with dealers. One of the major pain points that I have set out to improve is how the way vendors sell dealerships hasn't really changed over the past 15 years. I can't speak to before as I wasn't in the industry.

Dealerships are bombarded with outbound calls and emails which are exhausting to deal with. The vendors don't want to do this BTW they just don't have many options. Most call I've had with them has been about how unpredictable the channels are to connect with dealerships. How some conferences are good but just as many are a bunch of vendors hanging out with hardly any dealers.

I have heard a lot of dating app analogies from the vendors I have spoken with this month and I think its a fair one. I would say we are similar to Bumble for dealerships where they make the first move and the vendors have to respect their time. The dealers also have to hold up their end as well. Beyond this we also have all the tools to go from the first date to sending the kids off to college.
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FRIKINtech Offer reactions in 2023

Marketing works when you hit the right customer at the right time with the right message. In 2023, many curious customers out there wanted to dive into what they could do next with their cars.

We processed millions of repair orders, leases nearing expiration, loans in search of equity, credit union deals labeled as cash deals, and actual cash deals in 2023. On the heels of that processing, we sent over a million equity offers via email and over a million equity offers via text message. Mailed postcards did not break 1 million because we lead with a digital experience first. Mail is optional for dealers at FRIKINtech.

44% of all emails were opened, and 13% of those opened emails clicked the offer to engage with a personalized landing experience. This is significantly higher than traditional email campaigns, blasts, and even 1:1 messages!

With a strict double opt-in procedure, 11% of all text messages went fully through to engage with their personalized landing experience. National texting campaigns typically generate a 3% opt-in rate, so dealers can expect better results from their local markets.

Customers not using the dealership service department engaged more with the emails, while service customers had higher opt-in rates with texts.

Vehicle purchases and acquisitions occurred at an equal rate across email and texts. By incorporating a strategy that includes texting equity offers, dealers greatly increase their return on investment.
Mail tracking is done through QR code scans. Although we do hear from dealers that customers walk in with the postcard, we do not rely on that for reporting purposes. QR code scans represented 4% of all mail sent and have continued to trend up since launching the mail product halfway into 2023. 4% is also the lead rate, four times higher than traditional mailers that convert at 0.5%.

When customers hit the digital offer, 83% do it on a mobile device. What’s super interesting is the number of customers who open on their phones and then return later to play more on their desktops. There is a lot to engage with when customers realize they can apply their equity to every car in the dealer’s inventory and see all the payment options on all those cars, too! We saw a 36% returning visit rate, and the average visitor clicked (tapped) on 11 things.

Automation in digital marketing? Get with the times!

Congrats on the new product launch!

I built something somewhat similar internally about 4 years ago for our dealership group, so I know firsthand everything that is involved with something like this!

I'm actually working on launching version 2.0 this year! It admittedly took a little bit of a back seat the past few years, because I launched v1 a month before covid broke out (bad timing), and we all know what that did to inventory and specials-based advertising...


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The few suggestions I have regarding the PowerPoint on your website:
  1. If this is a brand new product, why are the examples promoting 2017 models with Nissan's old logo?
  2. What does $299mo/325mo mean?
  3. .09 APR? Most interest rate offers would be advertised as "0.9% APR for 60 months"
  4. Do you have variations for the different OEM compliance guidelines? This Nissan example would definitely get rejected for several reasons
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Hey that’s my store. But before my time.

#RefreshFriday Merchandizing - Someone is Launching a new Service | Joe Pistell

Anyone using Image Upscalers?
I do, for my photography hobby. Not for merchandizing cars. My favorite is Topaz Photo AI. It is more amazing at sharpening, removing noise, and fixing lighting (my primary uses). It does a very good job of fixing bad photos.

On1 Photo RAW gets great reviews amongst the photography community as well.

Both are excellent for upscaling image sizes while maintaining the best resolution.
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Cost per lead on CarGurus?

I recently built Super Veloce
Very creative use of data to generate buyer engagement... well done.

I'm trying to get a sense of what dealers are paying CarGurus and others on a "cost per lead" basis in 2024? I've seen $15,
"...NO MINIVANS HERE" hahhaaa
@superveloce your svc aims at an audience -and- "exotic VINs only", so the cost per lead by a traditional dealer is not relevant. A few ideas...
  1. You need to hard-wire your deal sniping with a service that'll complete the sale. Otherwise your service will be in visible to the seller. May I suggest that you partner with Safely Buy And Sell Used Cars Privately | PrivateAuto | PrivateAuto (or similar).
  2. Put your sniping service behind a paywall.
  3. Partner with BAT (or similar).
Like where u are going. :cool:
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Announcing: LVL Up Auto - Vendor Management Platform

The vendor side of LVL Up Auto | Dealership Vendor Management Platform is now LIVE!

If you are a vendor and have already reached out about claiming your company page - I will provide instructions this week. Email me here -> [email protected] if we haven't connected yet I will respond as soon as I can.

I couldn't be more excited about what this means for the future of connecting dealers and vendors. I met with +40 vendors over 2 months to collect the requirements to develop this new part of the application. Thank you everyone for your time and ideas, I am really proud how it turned out.

Here is a sneak peak and more info exclusive to DealerRefresh:

Vendors have new tools for adding products, media, their features, and integrations. They can also add users from their team, ask their customers for verified reviews and manage all their demos in LVL Up. These represent foundational features that enable future ones. The choices vendors make in setting up their account as well as the scale and quality of the reviews will impact how vendors appear in search rankings and how they are recommended to dealerships as potential matches. The way the integrations and features are structured in the database and how they get added enables some really advanced capabilities that I am just now getting my head around.

For example integrations: Today they can be added by a dealership user as well as either vendor at the product level. The vendor that it was added for gets the ability to see this and edit it as well. This allows for it to scale up quickly and accurately. The ability to leverage integrations in search results is a game changer for dealerships looking for options for their unique set of partners. The idea to design it this way was something that came up in early conversations all the way back to Oct/Nov from the closed beta. This is just one small part of the platform but it's a derivative of all the underlying structure that makes it possible.

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#RefreshFriday Merchandizing - Someone is Launching a new Service | Joe Pistell

When you make a transit van look this good... :bow::bow::bow:

"Merchandising is not a cost, it's a weapon"​

Dealer's STOP making your listings look the same...
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When your images look like all the other dealers... you have to drop your price to get eyeballs on your VIN.

Buying a car is Emotional, pictures rev-up those emotions...
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So simple, so sexy. This is 100% DISC.

RANT: Dealers gave their creative souls over to Velocity. "data proves everything and drives our decisions". F*k that. Data is not the boss, it's the score keeper.
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"Creative photo's don't scale"
F*k that. A $1,000 price drop on an old VIN happens every day. What if your sexy pics made your VINs pop and 'triggered' shoppers into action. What if sexy pics reduced your total monthly discounting by 10%?

If you need data to back this decision making, don't forget your "Invisible Internet Walk-ins". How big is your invisible walk-in audience? 60% of total Sales? Sexy pics will motivate this audience too.

Game Plan: Create the vision, make the job description then hire the right person and let them run with it. Ken Grody Ford Carlsbad has Nick Valdovinos Creative Designer / Photographer. If I was a dealer and motivated to change, I'd send a direct message to our @Will G. (or a photo pro in your area) and ask for him for advice and maybe he'll be open to be your consultant.

DISC?​

Buying a car is driven by emotions. Sexy pics triggers these emotions and will sell more cars.​

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