At its recent User Summit, DealerSocket lauched a new integration between the software company’s Precise Price digital retailing solution and F&I Express’ network of approximately 160 F&I product providers.
The companies highlighted this new combination can enable an even more accurate and intuitive digital retailing process for dealers and their customers.
DealerSocket explained Precise Price was initially developed to address the strong interest among consumers to transact online from any mobile device and marked DealerSocket’s entrance into the burgeoning digital retail category. Precise Price was one of the first digital retailing platform to come equipped with integrated desking software, allowing for the delivery of dynamic price quotes with rebates, incentives, and all applicable taxes and fees factored into deal calculations.
“DealerSocket’s Precise Price integration with F&I Express’ digital media solution helps dealers and their customers have a better experience during the digital retail process,” said Brad Perry, co-founder and chief product officer of DealerSocket.
“Utilizing the integration within Precise Price leads to happy customers that convert and buy more backend protection packages. Our initial pilot found that dealers who used the integration saw a nearly 20% increase in backend gross,” Perry added in a news release.
Now, through Precise Price’s integration with F&I Express’ Digital Media solution, the platform is able to display VIN-specific, state-specific and dealer-specific F&I product rates and dynamic content.
This connection also allows can digital retailers, dealer websites, menu systems and other platforms to dynamically access F&I product ratings and content.
“Trends reveal that car buyers are becoming more partial to an online retail experience. In fact, research shows 71 percent of consumers prefer to get online information about their entire deal, including aftermarket add-ons,” F&I Express vice president and general manager Gary Peek said.
“By giving customers more transparency and authority over the course of their deal, Express Digital Media can help dealerships reach consumers earlier in their car buying journey,” Peek continued. “This can improve customer satisfaction and for revenue through more F&I sales.”