xChange Automotive Launches Facebook Apps to Bring Sales to Social Media

Though many say the potential for using social media for sales has not been tapped into yet, social media application company xChange Automotive said it has released a product that may take a step in that direction.
The company launched this week two call-to-action transaction apps for Facebook.
xChange Automotive contends that these transaction-based social media apps may help dealers and lenders convert social media members into paying customers.
“These are the first serious call-to-action apps for driving ROI from social media,” says Dom Shamblee, chief executive officer of Cocoa Studio, an xChange Automotive partner and creator of social media user experience and transaction process interfaces.
Highlighting the tools themselves, first up, xChange Automotive’s Dealer App enables store Facebook members to schedule a service appointment, search and select a vehicle, price a vehicle, apply for credit and even submit trade information, “all within the comfort and convenience of the Facebook community,” the company explained.
And as for the Auto Lender App, on a lender’s Facebook page, members can apply for loans and refinance. The company noted it also “helps lenders conquest business from competitors, all through the familiarity and popularity of Facebook and its viral marketing potency.”
And just how will these new apps drive new business?
xChange Automotive offered a few suggestions.
First, the company explained that message blasts to existing vehicle, service and finance customers to direct them to a dealer- or lender-customized Facebook application-landing page, could potentially garner new customers.
“This page then uses graphics, video and/or content to help direct the customer through just a few steps to transact business with the dealer or lender,” the company shared.
Also, a dealer or lender could use search engine marketing and pay-per-click marketing on search engine and social media sites, “where nine of 10 consumers shop for vehicles and dealerships to guide consumers to the dealer or lender’s Facebook application landing page,” officials stressed.
Lastly, the company noted that advertising through the lender’s or dealer’s own website and Facebook community is crucial, “so all shoppers, members and followers will see them, comment themselves and refer the opportunity to other Facebook members, which will create social media’s five-time ripple effect.”
Commenting further on the sales potential, Danny Pagan, chief technology officer at xChange Automotive, says: “The potential to transact business from social media users is extensive.
“Social consumers engage with businesses on their terms, and while common wisdom believes consumers won’t do this in social media, they would if they could," he continued.
“Now, with these call-to-action apps for auto dealers’ and auto lenders’ Facebook home pages,” Pagan added, “consumers can engage and transact business with them, creating a true revenue channel from social media for auto dealers and lenders.”
A ‘Bridge’ to Sales on Social Media?
In explaining the new products, the company noted that its social media transaction apps aim to bridge the gap between “what businesses think consumers want to do on social media sites and what consumers say they want."
They noted that social media sites may be more suited to sales than many might think.
“By an overwhelming majority, consumers want to purchase tangible products and services from businesses that offer them real incentives to do so,” says Shamblee, the CEO of Cocoa Studio. “Yet businesses continue to think social consumers are primarily interested in research and opinions, whereas social media is a customer point-of-sale acquisition and lifecycle management opportunity."
Pagan also offered his take, noting “These xChange Automotive call-to-action apps enable Facebook members to transact business with the companies they engage with on Facebook.
“Now dealers and lenders can connect with consumers in the environment consumers prefer today, where members also get other members’ opinions about their car-buying and loan-shopping decisions,” Pagan said
“In most every way, this is like having trusted advisors at the member’s side as they shop, and a way for the member to share that shopping experience with friends and family across the Facebook community,” he added.
The Results
The company also highlighted the results from recent beta tests with Facebook members.
These xChange Automotive apps delivered per-customer acquisition costs of $225 to $275 less than industry averages, officials noted. Customer retention costs were $150 to $200 less than average, they added.
Moreover, the marketing effect for the apps was high, as well, according to xChange Automotive.
In fact, both apps generated on average a five-time viral marketing effect for each new social media customer acquired during the beta tests.
Company officials explained that both apps are now moving to pilot implementations with auto dealers and auto lenders.
“These apps’ potency to drive business for dealers and auto lenders alike lay in their integration with key business systems. This includes having xChange Automotive’s industry-specific business rules and processes, and seamless Facebook integration for social interactions,” Shamblee says.
“Now consumers will be able to shop, compare, and ask opinions from friends and family, all within this increasingly important — and trusted — social media community,” he concluded.
The company noted interested parties should contact info@xchangeautos.com.