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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.