Website Trade-In / Purchase Tool

[Alex Snyder]

Yes, we are.

Always here if people want to learn more.

What you've given us so far is a bit vague. How do you do this? Where are you sourcing the data and coming up with the values?

 

[Ryan Everson]

What you've given us so far is a bit vague. How do you do this? Where are you sourcing the data and coming up with the values?

Looks like he's with Textium? I believe they require the customer to text either their VIN or license plate number, and then it replies back with a Black Book value range certificate as an MMS image.

Or if you’re sending the Textium request to your own database and already have the customer’s VIN, then the customer would not need to provide that information and could simply request their value.

 

[Alex Snyder]

Looks like he's with Textium? I believe they require the customer to text either their VIN or license plate number, and then it replies back with a Black Book value range certificate as an MMS image.

Or if you’re sending the Textium request to your own database and already have the customer’s VIN, then the customer would not need to provide that information and could simply request their value.

Thanks Ryan - he kicked my spidey sense up with the way he posted. After 20 years of seeing these kinds of posts I get suspicious.

So, if he has a VIN or license plate and runs it through build data first, then he can get pretty close. Which is all he had to say.

 

[Chris Apostalides]

Our system is integrated with values from KBB, Black Book, or AccuTrade. The dealer can select whichever fits their needs best.

On the dealer's website we install a homepage banner, landing page, and SRP/VDP buttons with a simple "Text My Value" CTA. Additionally, for marketing, we integrate a QR code, a local phone number and a keyword so it can be used on any digital and traditional marketing.

How does a shopper use it? Simple. If they want to receive their value, they enter their mobile number (TCPA compliant in all 50 states). When they do, we immediately send them a text, and they respond with their license plate or VIN. If a license plate is given, we decode to a 17-digit VIN and grab the vehicle info and verify their name. At that point, a lead is sent to the dealer's CRM. The text interaction is instant just as if we were texting each other.

If the shopper gives us a BS phone number, the lead is never built and sent. There are ZERO incorrect leads.

What we've found is shoppers would much rather text than fill out a form. Plus, the dealer receives the benefit of NOT wondering, did Sally Smith provide valid contact data.?.? I have asked hundreds of dealer owners, GM's, BDC managers, etc... If you receive 100 leads from your online form fill, how many are accurate? The standard answer is 60%. Having 40% garbage leads on average is discouraging for a BDC or sales team that is calling those potential buyers and trade/acquisition shoppers.

 

[Chris Apostalides]

Thanks Ryan - he kicked my spidey sense up with the way he posted. After 20 years of seeing these kinds of posts I get suspicious.

So, if he has a VIN or license plate and runs it through build data first, then he can get pretty close. Which is all he had to say.

The reason for that is simple. I have around 7 posts on this site and I didn't want to "suitcase" in the forum and potentially violate some rule. Not trying to be vague at all.

 

[Alex Snyder]

Thanks @Chris Apostalides - I get it now. Your clarifications on the product and your posting approach now make more sense.

So, you're soliciting the shoppers for their info. We are using a DMS feed, so we have to be much more careful.

 

[Chris Apostalides]

@Alex Snyder

Dealers and Agencies can utilize our tech to do both.

 

[joe.pistell]

one rear car photo, txt to source:
OCR the plate --> VIN --> YMM(& most trims. some series, no packages/options). Trim appears on most trunk/hatch

One text w/one pic + miles gets you real close to a #$

 

[Dan Sayer]

Dealers and Agencies can utilize our tech to do both.

Textium is partnered with quite a few direct mail marketing agencies, correct? I've worked with a few over the years and the most recent returned about 150 Textium leads, all with names and phone, most with email, but maybe about 3% actually had the trade information.

When you say:

we immediately send them a text, and they respond with their license plate or VIN

I think you should rephrase to "and if they respond with..." to clarify that there is no "gate" to force a customer to add their information and I'd be interested to know if that is a typical agency result. It was from InMarket Solutions which is running one of the biggest snake-oil pay-for-performance games I've seen in a while. Shame on us for taking the bait. We had a 28% Engagement rate and 0% Sold and didn't acquire anything. They claimed they sold a couple hundred of our vehicles, we saw no net lift and only one shopper in-store ever mentioned seeing the mailer or our ads they were running.

Regardless, what is your differentiator in the market if you take away the text-to-lead model?

 

[Chris Apostalides]

Textium is partnered with quite a few direct mail marketing agencies, correct? I've worked with a few over the years and the most recent returned about 150 Textium leads, all with names and phone, most with email, but maybe about 3% actually had the trade information.

When you say:


I think you should rephrase to "and if they respond with..." to clarify that there is no "gate" to force a customer to add their information and I'd be interested to know if that is a typical agency result. It was from InMarket Solutions which is running one of the biggest snake-oil pay-for-performance games I've seen in a while. Shame on us for taking the bait. We had a 28% Engagement rate and 0% Sold and didn't acquire anything. They claimed they sold a couple hundred of our vehicles, we saw no net lift and only one shopper in-store ever mentioned seeing the mailer or our ads they were running.

Regardless, what is your differentiator in the market if you take away the text-to-lead model?

I think it would be good for us to have a call.

Yes, we sell our tech to marketing agencies. When you say 3% had trade info, that is likely because whoever the agency was, probably ran a non-trade campaign. On a trade campaign, 100% of the leads will have vehicle info. Although we highlight trade value, our tech can be used for service campaigns, credit campaigns, or any other offer you want to promote.

The biggest differentiator is you cannot game our system. If the shopper gives us a bogus phone number, the lead is never built out and sent to the dealer. Conversely, we as shoppers are conditioned to game forms. Form fills have been in sites since the mid 90's and haven't evolved. If I go to a dealer's site and put in Donald Duck as my name, tap through 4 pages of vehicle info, then put [email protected] and 867-5309 as my phone number, a shit lead is sent and the system now displays a value for my vehicle on screen. None of that is possible with our tech. every lead is correct.

That's just for our website trade tech. We have built other tech for direct mail, email, digital, that also delivers perfect leads for trade value, service, credit, etc.

I can't speak to IMS campaigns. We're just the tech that connects the dots. We have no involvement in how our agency partners use our tech.