Trades, trades, trades. Let's get more. Let's get customers more realistic. Let's report on it better too.
Why such a renewed trade focus?
Sandy Sansing Ford told us customers were initially inputting trade figures that were less than they would ACV them for. We wanted to give customers the opportunity to do that more!
Online trade forms are so... yawn 🥱. There has been very little innovation in 10+ years. One exception is TradePending and that's why we partnered with them. We are excited to be working with TradePending to innovate this vital element further.
We have added another button to get the customer to engage with the trade appraisal and potentially get you more trades:
And a bevy of new functionality for them to play with:
Let's break each section down starting with:
INFLUENCING the customer's trade number
We do not tell a customer what the value of their car is until they tell us how much they want for it 🤫. That number is recorded in illumiQUOTE for you to see and know there may be some negotiation room. You'll at least have a picture of the mentality of that customer towards that trade.
After they give us a number we pull TradePending marketplace data and compare it to what they said they wanted.
"Did you bump your head" example: 2015 F150 Lariat wants $26,000 for it in Hampton Roads, VA.
In this case, there are 46 other F150s for the comparison, and what they want is $2,500 to $4,800 more than what those other cars are currently showing in the market today. The customer can always click on "More Details about this Estimate" to see those 46 other vehicles. You can too.
"Underallow" example:
In the screenshot above, the customer has lowered the amount they want for it and we're excited about getting their car now. 🤩 Emoji to make the customer excited too.
Trade Equity applied across cars
We are now showing the customer how much trade equity they have based on the figures they tell us. It is the difference between "What do you want for it?" and "Anything left to pay off?"
The equity amount follows the customer to every vehicle details page they open. They can change their trade information from any VDP.
At Home Trade Appraisals
We released this feature in response to COVID but wanted to touch on it again. Northeastern dealers who have had to practice more at-home deliveries have had a need. You can turn this off if it isn't for you (default is off).
However, we are in the process of coding integrations with DRAIVER. They can handle your at-home deliveries, service deliveries, and even trade condition checking. This is an incredible convenience for customers and differentiates you. We will have ways for you to work with DRAIVER when the coding is done. This is coming very soon ✈️
Trade Reaction tracked
We have always tracked what they entered into the trade fields for you. But we are making it stand out more for you. This is also shipped to your CRM or sent as an SMS notification if you have those configured.
⛔️ PLEASE REMEMBER: if you have ever logged into illumiQUOTE (as a dealer) your actions will not be tracked. The trades you manually enter will not follow you around.
Magic Link opened from CRM automation
We have not been doing a good job of pointing out when a customer opens illumiQUOTE from your automated emails or email blasts, or if you embed a magic link in your marketing. No longer!
Now you can see when the Magic Link has been opened. And we reserve the right to change the rocket ship 🚀 to a magic wand when that emoji comes to Androids and iPhones later this year.
In-Flight ✈️
We will be updating the lead page to give you a better idea of how much activity is constantly happening in your store. This sets the stage to provide some new communication capabilities that will shape the future of FRIKINtech.
mDesking integration. We have successfully piloted the first version of illumiQUOTE to Market Scan's mDesking tool flow. Any customer in illumiQUOTE is also in mDesking for you to thoroughly pencil anything you can imagine. There is no doubt mDesking is the most powerful desking tool a dealer can use. If you are a current mDesking dealer you'll want this setup. If you are not on mDesking, please allow us to make an introduction to the fantastic team at Market Scan. More news will be coming soon.
