Understanding the rate at which part-exchange vehicles are ‘leaked’ from new car deals is becoming a metric that retailers are fighting to get to grips with.
The relentless online used car marketplace represented by the likes of webuyanycar.com and motorway.co.uk continues to attract sellers, increasingly at the expense of the dealer group that misses out on the inclusion of a customer’s vehicle as part of the new car deal.
Losing those valuable part-exchanges means:
Less used cars to sell and make profit on;
More expensive trips to the auction house and beyond to source stock
The traditional model of used car acquisition is on unsteady ground, so what car retailers to do to quickly stem the flow?
Strategically targeting order to delivery
The order to delivery phase of the car-buying process has been proven to be a rich source of improved upsell performance and customer satisfaction levels, but now there is an opportunity to also reduce the number of part exchanges leaked to the so-called disruptors.
The rate at which these cars are lost could be vastly reduced if retailers had the insight into those customers who are most likely to defect.
A new feature of AutoBuzz targets this within the order to delivery phase of the car-buying journey by integrating with the retailer’s digital appraisal platform and adding details of the part-exchange valuation into the customer’s personalised WelcomeHub.
This means that just as the sales team can see which customers are most likely to add accessories or insurance and tailor their follow-up accordingly, they can now see which customers are most prone to selling their car elsewhere.
AutoBuzz has developed various trigger points within the platform to track customer activity effectively and by integrating with vehicle appraisal software now has the ability to alert the sales team when a customer shows signs of defecting.
Re-Value my vehicle
Furthermore, AutoBuzz gives customers the opportunity to ‘Re-Value’ their vehicle at any stage of pre-delivery, ensuring that retailers at least get the chance to compete with an online valuation in instances where there are extended lead times on new cars and valuations move.
The reality is, sales teams have the impossible task of staying in touch with customers in a meaningful way once the order has been taken.
Today, with the addition of the latest feature, AutoBuzz has the ability to drive up efficiency and flag up the customers who are most likely to:
Add to their order with additional products and services
Cancel their order or leave a negative CSI score
Remove the used car from the order
If you want to discuss PX leakage and ensure you maximise the value of each customer pre-delivery, get in touch today >>