IRVINE, Calif., 21 October 2021 / PRNewswire / – Kelley Blue Book® Instant Cash Offer, a Leading Online Inventory Acquisition Solution, Today Announces Optimizations to its Consumer Matching Process with Additional Filters to Help Dealers Make facing today’s inventory challenges. The latest enhancements to the Instant Cash offering leverage data and information from the Cox Automotive ecosystem to more accurately route potential customers, improving the quality of the offering for dealers looking to acquire more cars they need. for their lots in order to maximize their profits while continuing to improve the Instant Cash offer. experience for consumers with a redeemable cash offer that allows customers who are ready to sell their vehicle to leave with peace of mind.
“The enhancements we’ve made to consumer matching, coupled with our recent product innovations, are all designed to improve the consumer experience, provide an even more focused approach to consumer offerings, and help dealers leverage the get the most out of every acquisition opportunity, ”said Randy Kobat, vice president of operations for inventory management solutions at Cox Automotive. “These improvements also help increase transaction rates for Instant Cash Offer dealers, so they can acquire more cars.”
The latest product innovations streamline the process in three ways:
- Bridging the distance gap to help close more deals: Kelley Blue Book Instant Cash Offer reduced physical distance between dealers and interested prospects by 30%1, providing a competitive advantage over other dealers and providing a more convenient process for consumers.
- Attract more vehicles: Advanced Replacement Vehicle Matching not only matches dealers with consumers who have the vehicles the dealers want, but also with those who buy vehicles the dealers already own, increasing the transaction rate of the Instant Money offer. Kelley Blue Book by 21%.1.
- Intelligence to identify opportunities ready for the deal: Additional consumer insight from all of Cox Automotive’s data sources lets dealers know which consumers are willing to transact to increase operational efficiency when acquiring the vehicles they need most. Kelley Blue Book instant money offers with buy signals have a 19% higher trade completion rate than those without buy signals2, while consumers using Kelley Blue Book appointment requests are twice as likely to transact at a dealership that offers an instant cash offer than those without an appointment request.
Consumers can receive an offer even faster, which can have a direct impact on consumer satisfaction and increase the volume of offers for the dealership. Additional product features such as the ability for consumers to upload up to six images of their vehicle, scan their vehicle’s VIN to reduce errors, request an appointment directly from the certificate of offer, and providing status information without requiring the customer or the car to be at the dealership are investments in a better customer experience.
Kelley Blue Book also streamlined Instant Cash Offer plans for new and existing customers, with two selections:
- Expert assessment: Source inventory from anywhere in the dealership (showroom, service routes, dealership website), and provide a myriad of support services including implementation and staff training during 90 days, full functionality of the dealer administration tool, dealer inventory liquidation, Google Analytics, performance management, the ability for consumers to upload photos, signals to buy offers snapshots on offers submitted through the reseller’s website and the ability for consumers to request an appointment.
- Shopping center : The complete package for dealers who want to maximize inventory acquisition opportunities within their dealership, as well as connect with consumers willing to sell their current vehicle on a trusted site. Kelley Blue Book and Autotrader sites. The buying center includes all the features of the Expert Appraisal package, plus the ability to purchase instant bid buy signals for bids submitted through Autotrader and KBB.com for optimal acquisition routing and efficiency. .
To learn more about the Kelley Blue Book Instant Money offer, visit http://b2b.kbb.com/ICO.
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1 Cox Automotive Data, June 1 to July 15, 2021.
On Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the source of vehicle information and reviews trusted by both consumers and the automotive industry. Each week, the company provides representative market values on its top-rated KBB.com website, including its famous Blue Book.® Exchange values and Kelley Blue Book® Price Advisor tool, which provides a range of what consumers can reasonably expect to pay for a vehicle in their area. Car owners who want to sell immediately can also get a tradable, ready-to-go offer with Kelley Blue Book.SM Instant cash offer. The company also provides vehicle prices and values through a variety of products and services available to auto dealers, automakers, finance and insurance companies, and government agencies. Kelley Blue Book is a Cox Automotive brand.
About Cox Automobile
Cox Automotive Inc. makes it easy for everyone to buy, sell, own and use vehicles. The more than 27,000 team members and family of brands of the global company, including Autotrader®, Dealer.com®, Dealertrack®, Dickinson Fleet Services, Kelley Blue Book®, Mannheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car buyers, 40,000 auto dealer customers across five continents and many more in the auto industry to prosper for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a private company, Atlantabased company with an annual turnover of nearly $ 20 billion. www.coxautoinc.com
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