KBB upgrades Instant Cash Offer to help dealers source vehicles from service drive
Kelley Blue Book announced it has upgraded its Instant Cash Offer with three enhancements designed to make it easier for dealers to source vehicles from what it called “one of the least used but most promising channels” — their own service lanes.
The additions include more information from service department scheduling and customer experience platform Xtime (a fellow Cox Automotive company) as well as data-driven badges that signal when shoppers might be ready to transact, and more.
“According to our data, the service drive yields more desirable — and potentially more profitable — vehicles, making it the ideal place for dealers to look for used car inventory,” Cox Automotive vice president of operations for inventory management solutions Derek Hansen said in a news release. “These new Instant Cash Offer enhancements help dealers acquire vehicles easier and maximize their returns by more effectively prioritizing and engaging service customers.”
The enhancements include:
Requested service information: Thanks to the integration with Xtime, dealers can see the reason each vehicle is coming in for service directly on KBB’s Instant Cash Offer Service Drive Acquisition dashboard, allowing them to better prioritize which cars they want to target first in the service lane.
Bulk actions: Instant Cash Offer dealers can now send offer invitations to multiple service customers at once and can bulk export records from the Service Appointments screen, added capabilities that can help dealers reduce the time and effort needed to acquire vehicles from the service drive.
Integrated Buying Signals Plus badges: Buying Signals Plus, launched in 2023 as an optional upgrade, is designed to aggregate and analyze consumer shopping behavior, which signals when those shoppers might be ready to transact. Now the Service Drive Acquisition dashboard includes Buying Signals Plus badges to help dealers quickly understand which customers should get the most attention.
Cox Automotive said its data shows Instant Cash Offer leads that used Buying Signals Plus improved transaction completion rate by nearly 19% better than leads without it.
“Bringing Buying Signals Plus into Instant Cash Offer’s Service Drive Acquisition dashboard is a big leap forward for dealers,” said Micah Tindor, senior director of Kelley Blue Book Instant Cash Offer, “as it will enable them to be more strategic in deciding which consumers to engage with and when, based on the vehicle’s repair requirements and shopper’s likelihood to buy or sell.”