ATLANTA -

Because hammering out an agreeable trade-in value creates negative feelings for potential buyers, AutoTrader.com offered four tips to help dealers ease the pain of the trade-in and increase customer satisfaction.

Site officials wanted to create a strategy for stores because they contend satisfaction with the vehicle-buying process decreases significantly once consumers make the transition from online shopping to in-store purchasing.

AutoTrader said negotiating the value for the trade-in is the activity with which purchasers are least satisfied.

In fact, only 37 percent of consumers reported being satisfied with that step, according to research from the site.

However, a tool like AutoTrader.com’s Trade-In Marketplace can serve as a bridge between the online and offline aspects of the shopping experience, thereby helping dealers increase customer satisfaction notably.

“Car shoppers have access to more online resources than ever before, and they are using them to choose their buying and trade-in opportunities carefully,” said Juan Flores, director of operations for AutoTrader.com’s Trade-In Marketplace.

“By addressing the most painful part of the transaction — negotiating the trade-in — dealers can increase customer satisfaction significantly, and they can also stand out from their competition. It’s a win-win if they implement — and merchandise — the tool in the right way,” Flores continued.

The Trade-In Marketplace, accessible via AutoTrader.com, KBB.com from Kelley Blue Book, participating dealer websites and in select physical dealerships, can enable consumers to get an instant offer on their used vehicles, sight unseen.

The offers are based on an extensive set of parameters, including VIN-specific information, details surrounding the condition of the unit and the impact of the specific vehicle’s history and after-market equipment.

The result is that consumers receive an offer on their vehicles that represents an amount that a dealer would be willing to pay for their vehicle immediately.

Because Flores pointed out that it’s important to implement online and offline strategies when using a tool like the Trade-In Marketplace, he offered the following tips for dealers using the Trade-In Marketplace:

1. Showcase Your Trade-In Process Online
Prominently signal on your website and other marketing platforms that you have an online appraisal tool that will enable shoppers to get an instant cash offer on their vehicle. You can leverage the brand equity of AutoTrader.com and capture the attention of shoppers online.

2. Reduce the Pressure
Let the customer know that you are very interested in the vehicle, regardless of whether he/she wants to trade in the vehicle or simply sell it to the dealer.

3. Let the Customer Take the Lead
If they haven’t generated a Trade-In Marketplace offer by the time they walk in, take the customer to the Trade-In Marketplace kiosk or a workstation and allow them to answer the vehicle condition questions themselves.

4. Involve the Customer in the Walk Around
Don’t leave the customer sitting alone while you validate the condition of their vehicle. Invite them to do the walk around with you, and talk with them about the factors that affect the value of their vehicle — both the positive and the negative. 

“Enabling consumers to be more involved in the trade-in process has proven to be a winning strategy that helps dealers increase customer satisfaction and stand out from the crowd,” Flores said.

“Enhancing in-store processes is not always easy, but best-in-class dealers take that challenge head on and use it to separate themselves from the competition,” he went on to say.

According to a survey of more than 12,000 Trade-In Marketplace users, two out of three of those who redeemed their offers thought the tool was valuable in helping them negotiate with dealers and improved their interactions at the dealership.

As a result, 77 percent of those surveyed were willing to recommend Trade-In Marketplace to others and to use it again in the future.

Manheim and AutoTrader Group Announced Key Leadership Changes in Human Resources & Field Operations

In other company news and a move to further build and strengthen its leadership team and role in the industry, Manheim and AutoTrader Group announced that Andrea Kane has been appointed chief people officer at Manheim and AutoTrader Group.  Rock Anderson, Manheim’s former chief people officer, has been named regional vice president of the West region.

Both appointments became effective Nov. 1. More details about the moves will be published later this week by Auto Remarketing.

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