Trade-in evaluation lead problem

Todd H
Is anyone else having a problem converting "Trade-in Evaluation" leads? We are getting a good quantity of leads, but we are finding that shoppers don't want to talk with us after we give them the range of values that their car may be worth. Community Question: Do you give your trade-in values right away while they are still on your website? OR do you withhold that information until you have 2-way communication with the customer? PART 2: What sort of appointment show rate or sold rate are you seeing with these SPECIFIC types of leads?
Ricky Patrick
My opinion is just my opinion, but they're either going to get their trade-in value from KBB, Edmunds, NADA where you have zero chance of contacting them or they'll get the trade value from your website where you have a small chance of contacting them. The latter is still better for you.
Brandon McNett
I agree with Chris and Ricky above. I think the important tone of the communication when attempting to follow up with the customer is to still give them hope and address the "elephant in the room" directly. "I see you had submitted your information on XYZ tool on our website, so it has provided you a range based on the information you entered. We would really love to spend a little bit of time taking a look at your vehicle, because we feel that there may be some variables that could impact that pricing. No promise of a higher price, just a promise that without our Sales Manager seeing it, the price is probably not getting any higher and is likely relatively conservative. Do you have some time today or tomorrow to stop in, have a free (and in person) professional appraisal and while we're doing that, maybe find a vehicle to take for a test drive?" I know that was long, but that is the approach I take, email or phone call. Our goal can't be to sell the car/buy the car over the phone/over the email...our goal needs to be transparent and move them up to the next level of the buying this case, move them from not engaged to engaged....while giving them the opportunity to skip steps along the way!
Russ Chandler
Research shows that customers are on dealer sites to find out what THE DEALER will give them for their vehicle, not do the same thing they did at or ect. The consumer market is smart enough at this point they have a decent idea what their vehicle is worth based on what they saw on 3rd party sites way before hitting your dealer site. They're engaging with your dealer tool because they want to know about YOU and why they should buy from YOU. I would try and make a deeper connection with them directly (1st party lead) and give them a reason/experience to buy from your dealership. To @Chris's point, it makes more sense to limit the information your collecting on the car and focus more on the customer so that they don't see the evaluation as a final dollar amount for their trade-in. Focus more on the customer and leverage your own brand and less on every option of their trade-in and the 3rd party brand.
jordan thomas
Some of the dealerships I work with struggling with this same issue have done a few of the following things: - they have incorporated a special offer or incentive into their trade-in tool to encourage a customer to respond to a phone call or email and come into the dealership. - they optimize their trade-in tool through customization - leveraging their brand (not a 3rd party) and added benefits like saving time and a customer controlled process at the dealership. By calling the online evaluation a "quote" instead of an exact value, without seeing the car, leads the customer to the dealership to get actual appraisal in person. - They can prioritize and personalize the sales response to the lead by capturing more information about the customer and less info about just the vehicle. Sales reps can leverage the in-depth customer information to personalize the email or phone call responding to the lead, focusing on what was indicated most important by the customer. Do you have a way to customize your website/customer experience to differentiate yourself from having the same trade-in tool as everyone else?
jordan thomas
I'm curious - do dealerships see their trade-in tools as a lead generation tool or is your trade-in tool there as more of a good guy gesture?

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