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MyDealerOnline

"Sell Before You Buy"

MyDealerOnline Mentioned in TechCrunch as Quality Lead Generator for the Automotive Sector

In a recent TechCrunch article, "The Future of Lead Generation," MyDealerOnline is mentioned as a startup aimed at empowering both consumers and dealers during the car buying and selling process. With MyDealerOnline's technology, consumers are given access to automotive auction inventory, presenting car shoppers with a greater selection of vehicles at the best possible prices. Traditionally, quality auction vehicles are only obtained by licensed car dealers at dealer-only auctions. MyDealerOnline's technology connects consumers to auction inventory by allowing dealers to display thousands of auction vehicles on their websites, growing their online automotive listings and increasing their inventory selection for consumers. 

In an age where companies are paying monthly dues for qualified leads and social "likes" to grow their customer base, powerful lead generation tools are as valuable as they come. Any veteran professional in the automotive  industry knows that letting a lead slip through the cracks could mean missing the sale of a car that has been sitting on their lot far past it's expiration date. With MyDealerOnline's digital communication platform, dealers can interact with eager consumers across the web as they are shopping for their next car. Through MyDealerOnline's lead management system, consumers can request more information about a vehicle, send a message, request a phone and even ask the dealer to place a bid on a car located at an offsite auction. MyDealerOnline's real-time notification system alerts dealers when a consumer is interested in a car on their website, preventing dealers from ever missing a lead inquiry. 

The ability to turn potential customers into lifelong customers comes down to capturing leads when they are looking and where they are looking during their purchasing decision. As highlighted in a previous MyDealerOnline's blog post about the power of lead generation, MyDealerOnline provides an all encompassing solution for dealers to maintain leads and capture customers before the dealer down the street is ever given the opportunity. MyDealerOnline not only provides consumers access to thousands of auction vehicles that are otherwise unattainable to the public, but also provides dealers with a lead generation tool essential for sustainability and growth in today's lead-hungry economy. 

Original article published on LinkedIn by Carly Fitzpatrick 

Three’s a Party: The Role of Third Party Sites in Automotive Retail

Traditional automotive retail consists of two main players; the dealer and the consumer. Modern automotive retail consists of the dealer, the consumer and every other factor that now influences consumers' car buying decisions. From consumer shopping guides, to dealership reviews, to social recommendations on Facebook, we are given countless resources as consumers to guide our purchasing decisions in today's digitally-connected, review-friendly society. When it comes to third party automotive sites, three’s a party as they offer benefits for both the dealer and the consumer. This blog post explores the impact of third party marketplaces in the automotive retail sector and introduces an innovative solution for remarketing vehicles. 

Trends show that consumer shopping behaviors favor third party sites, utilizing such marketplaces as trustworthy and objective informational resources throughout the decision-making process. In fact, 2 out of 3 new car buyers, and 4 out of 5 used car buyers rely on independent research sites and marketplaces as a key resource in their car buying process.1 "Consumers like to comparison shop, and they want unbiased information that third party sites provide," stated Alex Vetter, CEO of Cars.com, at the 2015 Automotive News Retail Forum.2 As fragmented as the auto retailing industry is today, independent dealers continue to rely on third party sites to market their inventory. Third party sites allow consumers to view an array of inventory, shop around and find a good deal. Convenience is key for today’s consumer and the convenience of third party sites is rooted in massive amounts of inventory, avenues for comparability and reliable consumer reviews all in one place. 

 

For dealers, third party sites offer marketing opportunities difficult for independent, franchise dealerships to initiate on their own. Third party sites are today’s classified newspapers ads with better results. "Few groups have the size and resources to strike out on their own and create websites sufficient to try to attract all the business they need internally," mentioned John Krafcik, President of TrueCar, Inc.3 Third party sites allow dealers to reach a wider audience, generate leads and advertise their dealership. According to Driving Sales News, 78% of consumers looking for used cars are using a third party site in their search. Out of this 78%, they also state that 60% of the time that consumers spend going through the buying process is spent on a third party site.4 With such a high percentage of lead and sale traffic coming from third-party sites, why wouldn’t every dealer's strategy focus on broadcasting their dealership on these types of marketplaces? 

 

Well for one, third party sites require a quality leads handling process and consistent communication to produce profitable ROI. Let’s face it, marketing inventory on these sites does come with a price and in order to reap the benefits in return, they require a significant amount of management and attention on the back-end. It is important for dealers to remember that many third party sites do not necessarily consider themselves lead providers but rather inventory marketing channels.5  Given the sheer volume of consumers visiting automotive marketplaces on a daily basis, third party sites offer viable avenues for dealers to market their inventory. However, third party sites do not necessarily serve as the lead-generating power tool designed to solve all dealer hardships in automotive retail. In the past few years, AutoNation has placed less emphasis on plugging money into third party site providers and turned its attention towards brand building. "I can pay them to build their brands, or I can build my own brand," referenced AutoNation's CEO, Mike Jackson, noting that the significant fees and subscription costs for online lead generation through third party sites simply wasn't worth the cost.6

 

Given the interesting twist of third party site advantages and disadvantages for dealers, what about a tool that offers consumers a massive selection of inventory AND provides dealers quality, manageable leads through their OWN website? MyDealerOnline's revolutionary software does just that. An auto remarketing tool designed for dealers to offer a greater inventory selection without increasing their upfront capital finance requirements, MyDealerOnline aggregates auto auction inventory and places it on subscribing dealers’ sites for consumer browsing. Car shopping consumers are able to browse this inventory tool and inquire about particular cars straight through MyDealerOnline’s interactive communication platform. Dealers get real-time lead alerts and consumers get fast responses to their inquiries. MyDealerOnline's solution bridges the gap between wholesale and retail, an opportunity not available through third party site providers. To learn more about this unique concept, visit mydealeronline.com for additional information. 

Luck of the "On-Demand" Economy

We all know the saying, “the customer is always right,” but how far can that power be stretched? If it were not for the consumer demand for products, businesses could not prosper. However, according to Business Insider, the new “On-Demand Economy” is changing how products and services are being viewed, desired, and purchased. This “On-Demand Economy” can be defined as, “the economic activity created by technology companies that fulfill consumer demand via the immediate provisioning of goods and services.

By enabling consumers to get what they want, how they want it, and when they want it by a click of a button, industries are growing rapidly by welcoming new companies and showcasing endless categories. It comes to no surprise that the internet has revolutionized nearly every aspect of our lives, but is society adapting at the same speed? Currently, the tech-savvy millennials have taken the lead in introducing these technologies to the public. They have shown the added convenience that technology can bring and the benefits that coincide with it. The more benefits that are presented to consumers, the more accustom they become to these luxuries. As a result, they begin adapting to make this their everyday routine. 

 

"The on-demand economy is definitely the future. It offers consumers what they’ve craved for for many centuries: immediate gratification of every need at the tap of a button." 

 

 

Numerous industries have joined the technology bandwagon, such as reading e-books, online food shopping, and even car buying. Take MyDealerOnline, for example. MyDealerOnline has revolutionized the way a consumer would go about the used car buying process. In the past, you would gather information about the vehicle you are interested in, hunt throughout various dealerships for it, and take a chance that it is the right fit for you. Now, MyDealerOnline allows you to find the perfect car at the right dealership in the comfort of your own home. By adding online inventory to a used car dealership’s website, dealers can satisfy virtually any customer without the restrictions of lot space limitations.

As a final thought, take these questions into consideration:

  • Do you believe technology has entered our society for better or for worse?
  • How has technology positively or negatively impacted your everyday life?
  • The next time you are buying a used car, will you look online to find your perfect match before leaving home?

 

Digital Shifts in the Automotive Industry

The traditional trends so common throughout the existence of the auto industry are slowly but surely making that big leap towards all things digital. The digital shift of the auto industry has been a tad slower than other industries but are highly visible online, with automotive marketplaces infiltrating the internet and other technologies that require minimal dealer to customer interaction. One cannot pretend these that opportunities do not entice eager car shopping consumers, so dealers must find a way to embrace the shift rather than fight it. Decisions to list inventory online and embrace eCommerce are only the beginning, as there are now additional professional service aspects to offer customers. Take AutoPoint, for example, a technological automotive marketing tool with a new software, WelcomePointfor dealerships to utilize to increase customer satisfaction.

 

WelcomePoint is a virtual greeting center for car dealerships to use throughout their business hours to maintain heavy traffic. This software can be embedded into devices such as computers or tablets and allows the dealer to have an up-to-date overview of sign-ins, appointments for individual
employees, and service histories for specific vehicles. Customers will also have the opportunity to
customize their search for a car by notifying a dealer in advance about specific details or features they are looking for. According to
AutoRemarketing, this software will enhance the car buying experience for customers and allow dealerships to run a more professional and organized business.

 

Any auto industry professional can tell you that customer satisfaction is a number one priority in the business. From services to products to feature add-ons, dealers will jump through hoops to have a happy customer drive off in their lot in the perfect car of choice. Services like WelcomePoint and products like MyDealerOnline are just two examples of how the industry is shifting to embrace all things digital. So don’t get left in the dark, learn how MyDealerOnline can revolutionize your used car dealership today!

 

Bringing the Auto Industry Up to Speed with Modern Technology

If you think back ten years ago to 2006, how much did you know about technology? Did you have a computer in your own home? If so, did you use that computer nearly as much as you do now? Chances are you depend more on the internet now more than ever before for various aspects of your daily life. Access to online bill paying, virtual GPS systems for directions, and even the real estate market are prime examples of the readily available features provided by the internet. There is one aspect of our daily lives, however, that has not fully taken the online switch over to the virtual side. That aspect would be the automotive retail industry.

In 2009, only a mere 4% of all automotive retail sales were held online and increased to roughly 15% in 2013. Compare these numbers to the 50% of online visibility that is held by industries such as publishing and entertainment, as told by Forbes.com. Because of this minor increase, there has already been a decline in the number of visits a consumer makes to the dealership before buying a car from 4 visits to an average of 1.4 visits.

Does this come as a surprise that in this short of a time period that an online presence can make this much of a difference? Consider everything that is readily available to the public on marketplaces like Amazon, as pointed out by AutoRemarketing.com. There are hundreds of thousands of products for low prices listed for the immediate purchase by consumers. This not only saves money, but time as well from driving to and from the store to waiting in line and taking the chance that the item you are looking for may not be in stock. This is no different than the pros and cons of the automotive retail industry. On-demand automotive retail platforms, such as ShowroomXpress, are merging the automotive industry with the new advancements in technology. ShowroomXpress showcases car inventory from dealerships to consumers through an online presence available at home and interactive kiosks present at dealerships and is being released to the public in the upcoming year. Much like ShowroomXpress, MyDealerOnline has a similar vision of how the automotive industry can be taken into a new era.


MyDealerOnline saw the opportunity of an online automotive presence and full heartedly took an initiative. By setting up an online platform, auctioneers and dealers can showcase their used car inventory that they have available on and off their lot. Consumers can conveniently see inventory in the comfort of their own home before taking the trip out to the dealership to ensure a successful transaction and long-term satisfaction. With so much of society being dictated online, it seems impossible that there hasn’t be a service offered like this before. Learn more about how we can assist you in the car buying process at MyDealerOnline.

Welcome MyDealerOnline's newest customer, Aspite Auto Auction.

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MyDealerOnline is pleased to welcome Aspite Auto and Salvage Auction to our clientele! 

Just over fifty years ago, Jerry Aspite Sr. opened Aspite Auto as a classic auto body shop in Northeast Philadelphia. Today, Aspite Auto Auction remains a family-owned and operated business under the reigns of Aspite brothers, Jerry and Antonio. Aspite Auto Auction is the only salvage auction in Philadelphia and also auctions clean title vehicles and equipment for financial institutions, charitable organizations, municipalities and new car trades. Aspite currently holds online and live auctions every other Wednesday open to both car dealers and the public.We had the opportunity to go on site and talk to the brothers themselves in this short video


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With the help of MyDealerOnline’s inventory tool, Aspite Auto Auction has increased their offsite inventory, with thousands of additional clean and salvage cars now available through Aspite's offsite inventory page. If you are a dealer looking for parts or a consumer hunting for a great deal on a used car from a local vehicle supplier, Aspite Auto Auction is the place for you.

Make sure to check out MyDealerOnline’s “Hot on the Lot” special to see what featured vehucle is up for bid at Aspite’s next auction on Wednesday, February 17th online at aspiteauction.com or onsite at:

Aspite Auto Auction

7000 State Road 

Philadelphia, PA 19135.

Aspite Hot on the Lot Banner

 

 

MyDealerOnline Receives $1M in Funding to kick off the New Year | Business Wire

LANGHORNE, Pa.--(BUSINESS WIRE)--MyDealerOnline®, Inc., the only digital product that allows car dealers to broker wholesale auto auction inventory straight from their own websites, is starting the new year off strong after receiving $1M in funding just before the close of 2015. With recent developments like new product features, prosperous partnerships and industry recognition, MyDealerOnline successfully secured financial support from the same group of investors as prior funding rounds. Now totaling $3.25M in funding, the additional $1M allows MyDealerOnline to focus on increasing its subscriber base, fostering growth among new and existing partnerships, and expanding its efforts internationally.

Tech startup, MyDealerOnline, receives $1M in additional funding to revolutionize the auto remarketing industry.

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MyDealerOnline’s revolutionary technology has yet to be introduced to the automotive remarketing industry. A B2B service developed as an advantageous tool for remarketing vehicles, MyDealerOnline provides dealers with a greater inventory selection without increasing their working capital requirements or overhead availability. Contrary to popular websites designed to bypass dealers like Beepi and Vroom, MyDealerOnline works directly with dealers to help them satisfy consumer demand. “MyDealerOnline helps dealers engage with more retail customers by offering greater inventory selection to a wider audience,” states Scott Stephens, Vice President of Business Development. Even with the infiltration of automotive marketplaces online today, consumers still rely on dealers not only for purchasing vehicles but also for trade-ins, warranties, services and other add-ons available only from the professionals.

MyDealerOnline aims to revolutionize the car buying process for both the consumer and the dealer. Dealers can obtain more customers and sell cars without upfront capital investments while consumers have more options shopping at their local dealer. With inventory secured from local auctions surrounding Greater Philadelphia, nationally and auctions overseas, MyDealerOnline provides an opportunity to revolutionize automotive remarketing for dealers everywhere.

About MyDealerOnline®

MyDealerOnline® is a revolutionary digital product that allows car dealers to broker wholesale auto auction inventory straight from their websites. MyDealerOnline removes the guessing game from the wholesale car buying experience and enables dealers to “Sell Before You Buy.”

Contacts

MyDealerOnline, Inc.
Carly Fitzpatrick, 215-289-0500
cfitzpatrick@alteso.com

Source: MyDealerOnline Receives $1M in Funding to kick off the New Year | Business Wire