F&I Express to Power Dynamic F&I Experience Within DealerSocket’s Digital Retail Offering
DALLAS-- At their User Summit this week, DealerSocket Inc., a leading software provider to the automotive industry, is launching a new integration between the company’s Precise Price digital retailing solution and F&I Express’ network of approximately 160 F&I product providers. This new impactful combination will enable an even more accurate and intuitive digital retailing process for dealers and customers alike.
Precise Price, initially developed to address the strong interest among consumers to transact online from any mobile device, marked DealerSocket’s entrance into the burgeoning digital retail category. It was the first digital retailing platform to come equipped with integrated desking software, allowing for the delivery of dynamic price quotes with rebates, incentives, and all applicable taxes and fees factored into deal calculations.
“DealerSocket’s Precise Price integration with F&I Express’ Digital Media solution helps dealers and their customers have a better experience during the digital retail process,” said Brad Perry, Co-Founder and Chief Product Officer of DealerSocket. “Utilizing the integration within Precise Price leads to happy customers that convert and buy more backend protection packages. Our initial pilot found that dealers who used the integration saw a nearly 20% increase in backend gross.”
Now, through Precise Price’s integration with F&I Express’ Digital Media solution, the platform is able to display VIN-specific, state-specific, and dealer-specific F&I product rates and dynamic content. This powerful connection also allows digital retailers, dealer websites, menu systems and other platforms to dynamically access F&I product ratings and content.
“Trends reveal that car buyers are becoming more partial to an online retail experience. In fact, research shows 71 percent of consumers prefer to get online information about their entire deal, including aftermarket add-ons,” said Gary Peek, Vice President and General Manager, F&I Express. “By giving customers more transparency and authority over the course of their deal, Express Digital Media can help dealerships reach consumers earlier in their car buying journey. This can improve customer satisfaction and for revenue through more F&I sales.”
DealerSocket is a leading provider of software for the automotive industry, offering a suite of seamlessly integrated products to help dealers sell and service vehicles more profitably, while improving their customers’ experience. DealerSocket’s suite of products offers dealers of all sizes advanced Customer Relationship Management (CRM), innovative Digital Retail, Marketing and Websites, robust Vehicle Inventory Management, insightful Analytics Reporting, and solutions to streamline dealer operations such as Desking, Credit Reporting, Compliance, and an independent-geared Dealer Management System (DMS). DealerSocket’s software has helped its customers sell more than 100 million vehicles throughout its 18-year history. For more information, visit DealerSocket.com or follow us on Twitter, LinkedIn, and Facebook.
About F&I Express
F&I Express is dedicated to leading the aftermarket industry into the digital age with innovative technology solutions. With solutions that cut costs, educate consumers, improve compliance and increase efficiency for dealers, agents, providers, lenders, digital retailers and menus, F&I Express offers various technology solutions based on the needs of the customers in accessing F&I providers. Express Recoveries is an optimized eCancellation solution connecting lenders, providers and dealerships to streamline the cancellation and recoveries process in an efficient and compliant manner. Express Digital Media gives digital retailers the power to educate car shoppers online with accurate and dynamic aftermarket rates and content. For more information about our innovative solutions, please visit fandiexpress.com or follow us on Twitter @fandiexpress.
About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using cars easier for everyone. The global company’s 34,000-plus team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with revenues exceeding $20 billion. www.coxautoinc.com