The last few months have been challenging in many ways and there's no doubt that for many it's not been a good year. Luckily for car dealers, vehicle demand seems to have rebounded quickly and shows no signs of dropping off.
As AutoPlay have visited dealers the most striking thing we see is the lack of vehicles on the yard. When we speak to dealers and OEM's alike we hear about the challenges of ordering stock and many dealers tell us they are increasingly looking towards Appraisals as a viable source of new stock. However to date we have not seen this borne out in the weekly trend data we capture.
Appraisals have been steady, but have actually been affected more by the current economic climate than other KPI's like Test Drives or Sales. Currently Appraisals are actually trending down with 8% fewer Appraisals MTD than the equivalent period in October, and 16% fewer than in September.
With the prevailing sentiment seemingly conflicting with what data is captured we decided it's worth a deepr dive into how AutoPlay customers use the AutoPlay Appraisal Tool.
Over the last 6 months;
Total Appraisals Created = 38,764
How Complete Are Appraisals?
How Are Appraisals Being Utilised?
What Are The Valuations Returned?
What Types Of Vehicles Are Appraised?
With an average of 6,400+ Appraisals being created every single month by AutoPlay customers most dealers have a huge wealth of data ready to be mined. Here are 5 things you can do to better utilise AutoPlay to source and convert Appraisals;
1. For every customer that takes a test drive, offer a no obligation Appraisal.
With AutoPlayAuto.com whilst one salesperson is conducting the test drive, another salesperson can jump on their smartphone and conduct an appraisal of the customers current vehicle. With built in free vehicle lookup, the ability to take photos and record reconditioning items on a splat graph and the ease of getting manager approval the process could not be easier.
2. Work those past Appraisals.
It's possible that some buyers decided to delay thoughts of upgrading due to the fear around job security that many NZ'ers faced. Jump into Sales Pipeline>Vehicle Appraisals and sort by 'This Year'. Any you have not marked as Traded look at any associated lead and if appropriate give them a call.
3. Use the Wishlist and In Market Leads to remind you of deals and record interest when you don't have stock
With a shortage of stock it's inevitable that you'll encounter a customer who is after something that is not currently available. With the Wishlist you can enter the details of the vehicle the customer is after. When vehicles are Appraised or come into stock it will automatically notify the owner of the lead that a car that matches their requirements is potentially available - connecting both the Appraisal and the lead into two possible transactions.
The Wishlist is also perfect for recording leads for new model launches - something you can also achieve by loading leads against brochureware. The advantage of doing this via the Wishlist is that the sales team are automatically notified when the new model does come into stock rather than having to be manually mined.
In Market Leads is a similar concept, but flipped in reverse. By running Appraisals through In Market Leads you can identify potential buyers for the Appraisal based on the vehicle originally associated with their lead.
4. Get Wholesale Quotes Quickly & Easily
Not every AutoPlay dealer utilises the built in SMS capability to request Wholesale Quotes. With AutoPlayAuto.com it's easy to set up Wholesale Distribution Groups - meaning you can push out a potential trade in to multiple wholesalers in a few clicks. Wholesalers can then view all the information and images they need to value the vehicle, enter their offer which will then be displayed against the Appraisal in the Wholesale Quotes section.
5. Share Appraisals Amongst A Group Of Dealers
If your dealership belongs to a group of dealers it's possible to send out your Appraisal to receive offers from other dealers in the group. This can be useful in gauging whether there is already an active buyer amongst the group, and save margin having to buy wholesale.
AutoPlay Sales Pipeline is a pre-sales lead management tool designed for dealerships, dealer groups and automakers