There’s more than one trade valuation website service to use on your dealership’s website. At least one of the “big name” ones require a prospect to enter their contact details prior to displaying the trade-in value.
Naturally this leads to a high abandonment rate – those prospects simply not wanting to enter their contact information. In fact, this “big name” vendor is proud of the high abandonment, their argument being that those who do complete the form are serious leads, and you wouldn’t want the rest anyway. The painful part of this logic is that, by their own admission, a high abandonment rate is occurring on YOUR website. All that time and money you’ve spent driving traffic, only to have them abandon – not just the trade widget, but abandoning your website! And yet this vendor touts this as a benefit. Ouch! Easy to say when it isn’t your website they’re abandoning.
The trend of the modern internet savvy online car shopper is to find companies they can build a relationship with…companies that offer value in the website and reasons to return. Millenials for example don’t want to be blocked to access content…”Give me what I need and if you build a relationship with me I will be your customer”. So purposefully causing abandonment is contrary to the trend we see in the internet world all together. In fact, there is an entire discipline related to conversion optimization, and reducing abandonment.
Which brings me to our tradeIQ trade valuation solution. We provide trade valuations upfront for your customer without asking for their contact information, specifically to prevent them from abandoning your website, and to give you the opportunity to build up a relationship with them. Our tradeIQ solution will offer valuable information for your visitors that will cause them to want to give you their contact information, but not force them simply to get a trade-in value.
So while certain vendors stick to the formula that’s worked for them for the last decade, we believe it’s time to change the game. Why not contact us to see a demo of tradeIQ in action.