How much do you rely on your smartphone for everyday tasks? It’s impossible to deny how dependent and addicted today’s society is on their cell phones. From communication, to photography, to mapping directions and even shopping, we live in a world that relies on mobile devices. In a study recently conducted by Think With Google, it was discovered that 82% of shoppers say they consult their phones on purchases they’re about to make in a store. This is creating smarter buying options by allowing the customer to do research on a product they are interested in order to find the best deal possible. Even by just looking up an item, your smartphone has the capability to remember your search and correlate that search into the paid advertisements that you see on many sites following your search.
Think back to the last time you were searching for a car to purchase. Whether it was new or used, did you research the car’s ratings, reviews, and prices ahead of time? According to AutoRemarketing,
71% of customers who visit a dealership with a particular car in mind end up purchasing that car.
Meaning that customers are doing their research ahead of time and it is the dealer’s responsibility to live up to those expectations to make the sale. The customer enters the dealership ready to buy, not shop and has already researched options, features and pricing comparisons. The car itself is not only important, but also the experience brought to the customer.
Reliance upon technology is not going anywhere. We rely on it to function and even if we don’t like to admit it, our smartphones are smarter than us. Consumers use their mobile devices to help them make purchasing decisions, so dealers should embrace mobile technologies that could help them make a sale. There are new technologies emerging in the market to assist dealers in staying one step ahead of buyers that are compatible with smartphones and tablets alike to always keep vital information at hand. Nextgear Capital has introduced a mobile application brought to you by Black Book that allows a dealer the opportunity to calculate profit on a used automobile using the VIN number before purchase to ensure that it is a smart buy for their customers. By using this application, dealers can create a greater opportunity for customers to find the right match in their car buying search. But with 71% of customers doing their research ahead of time, dealers need a means to bringing these options to customers in the comfort of their own homes.
MyDealerOnline has built that bridge between used car dealerships and online inventory available to customers. Dealers have the opportunity to post car listings that are available on and off their lots, creating numerous options for customers to choose from. With these mobile and technological tools, you can increase your revenue possibilities and enhance customer satisfaction with a click of a button.
6 Neshaminy Interplex, Suite 310
Trevose, PA 19053 August 24, 2015
P R E S S R E L E A S E
Philadelphia-Based Startup, MyDealerOnline®, Raised $1.6 Million to Allow Car Dealers to Sell Cars Before They Buy Them
Trevose, PA (August 24, 2015) - MyDealerOnline® is a wholesale to retail digital product that allows car dealerships to broker wholesale auto auction inventory straight from their own websites. MyDealerOnline® partners with auction houses, takes their available inventory feed and places it directly onto the car dealer's website. Developed by Alteso®, a company that prides itself on accelerating the auto remarketing industry, MyDealerOnline® removes the guessing game from the wholesale car buying experience and enables dealers to “Sell Before You Buy.”
After three rounds of funding, MyDealerOnline® has received 1.6 million investment dollars; 1.1M in October of 2013, 200K in December of 2014 and 300K in August of 2015. These investments have allowed MyDealerOnline® to develop the technology, submit a patent, pursue and establish auction inventory partners and begin marketing to auto dealers around the globe. "It starts with the inventory.", stated Cheryl Munce, Chief Executive Consultant at Alteso®. According to Munce, the beauty of such a product is that, “It essentially puts the retail transaction ahead of the wholesale transaction.” She went on to say that, "Consumers can now shop a dealer's website and browse 'virtual' inventory to look for the car of their dreams. Of course the wholesale price is NOT displayed to the consumer so the dealer can protect their profit margins and handle the acquisition and sale directly to their customer."
MyDealerOnline® is an invisible technology that seamlessly integrates off-site auction inventory within a dealership website, thereby keeping shopping consumers engaged on the dealer's website. The dealer can sell more cars, maximize their digital marketing expense by attracting and retaining more customers and minimize inventory acquisition risk. With plans to obtain a greater amount of inventory vehicles and cater to a broader client base of car dealers, MyDealerOnline® aims for a promising and prosperous future. MyDealerOnline’s® vision is to revolutionize the way auto remarketers and car dealers do business by giving every dealer a "virtual" showroom of FREE inventory.
MyDealerOnline® is an auto remarketing product of Alteso. Founded in 2002, Alteso® develops revolutionary digital solutions that accelerate and enhance automobile remarketing programs. Alteso’s® commitment to the auto remarketing industry is delivering timely, easily integrated, on-demand digital solutions supported by best-in-class employees. With a lifetime of experience in technology and nearly a century of combined automobile remarketing expertise, Alteso® has products that meet the rapidly changing demands of the industry while delivering value for all stakeholders. For more information, visit Alteso’s® website at www.alteso.com/