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
MyDealerOnline, a Philadelphia-based automotive technology startup, developed a revolutionary inventory solution and lead generation tool for car dealers to compete in today’s digital age. The online inventory tool aggregates automotive auction vehicles and places those vehicles on used car dealers’ websites as additional online listings for consumer shopping. When consumers are browsing the additional automotive listings on a dealer's site, they can inquire about a particular vehicle through MyDealerOnline’s lead capturing technology.
Through MyDealerOnline’s lead management system, the consumer can request more information about a vehicle, send a message to the dealer, request a phone call from the dealer and even ask the dealer to place a bid on their desired car for purchase.
The dealer is notified of these customer leads in real time by email or an alert via MyDealerOnline’s mobile application, giving dealers the opportunity to capture leads when they are still interested.
In an industry where heavy traffic volumes and high competition can be difficult for one dealership to manage, MyDealeronline provides the simple solution for maintaining leads and capturing customers before the competition. MyDealerOnline not only provides dealers with additional automotive listings to grow their online inventory but also with a lead generation and management tool to maximize their dealership's full potential.
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.
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.
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.”
Source: MyDealerOnline Receives $1M in Funding to kick off the New Year | Business Wire
At yesterday’s Tech.Co Cocktail in Arlington, VA, MyDealerOnline placed second as D.C.’s Startup of the Year. We would like to congratulate D.C. Startup of the Year winner, RouteHero, for their innovative traffic and transit alert app, which helps Washington, D.C. commuters avoid traffic jams and delays before they encounter them.
As the members of MyDealerOnline socialized with other inventive startups from the area, we realized we were all there for one common reason: to save individuals time and money as well as ease people's lives through the use of technology. MyDealerOnline’s product provides more of all three of these facets; time, money and convenience. Here is how.
Car dealers maintain an inventory of vehicles available for purchase for interested car buyers. Currently, dealers look to sellers such as leasing companies, banks, car manufacturing and financing companies, fleets, rental companies, and insurance companies to obtain these vehicles. Dealers must guess which vehicles their prospective customers would be willing and eager to buy.
In turn, consumers search their local dealer’s websites or lots hoping to find the car that they want. Oftentimes, they discover that their local dealer does not have their desired vehicle. They then go to the next dealer and continue this process until they hopefully find the car that they want or they comprise to find a vehicle that is at least somewhat similar at a reasonable price. This is a time consuming and option-limiting process, one that can be frustrating for an eager car buyer.
MyDealerOnline has revolutionized the car buying and selling process for all parties involved.
For dealers, MyDealerOnline lists thousands of cars on dealer’s websites, providing them with enough inventory to satisfy any customer that comes their way. Since the dealers no longer need to invest the money to buy cars blindly up front, they are then able to sell those cars to consumers for much cheaper. For consumers, more cars are available locally at a close to wholesale price. This reduces the hassle of car hunting at multiple dealerships and saves consumers money on the car that they want. Sellers in turn can expose their cars to more buyers and sell them in a shorter period of time.
MyDealerOnline is here to revolutionize the car buying and selling process by making it more cost and time effective, convenient and satisfying. Are you ready to change the way we buy and sell vehicles?
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/