With the integration of TradePending’s trade valuation tool into LivePerson’s conversational platform for auto dealers, “conversational commerce” company LivePerson says dealers who are mutual LivePerson Automotive and TradePending customers can provide an “omnichannel experience” for consumers.
LivePerson says dealers can do that by extending the same trade-in valuation tool they use across digital properties and in-store processes to LivePerson’s conversational commerce platform.
Trade is one of the most important elements of the car-buying and selling processes for consumers and dealers, according to LivePerson. Consumers rely on the trade-in value of their existing vehicle to fund their new one, according to the company, which also says trade-ins provide dealers with a source of profit in the certified and used car markets.
LivePerson, sourcing data from the National Automobile Dealers Association, notes that 60% of car sales in the United States involve a trade-in.
LivePerson says that with LivePerson Automotive’s platform, dealers can deliver the trade-in experience through customers’ preferred messaging channels. Those include SMS, Facebook Messenger, Android Messaging, WhatsApp, and Apple Business Chat.
By using those channels, according to the company, dealers can increase lead volume. They can also engage consumers in “asynchronous messaging conversations that take place on the consumer’s time.”
The new integration was set to launch this past Friday.
The company aims for the integration to provide access to TradePending features that it says produces high conversion rates. Those include predictive search and what it describes as a simple user experience.
Noting that TradePending works with about 8,000 dealers and websites, LivePerson said that compared to a 5% traditional trade tool form completion rate, TradePending’s predictive search technology shows form completion rates of 26%.
TradePending chief business officer Joe Dallas said his company sees “a huge methodology shift for dealers.”
“Over the course of a natural messaging conversation, dealers are getting more connection points with their consumers, more detailed info about these new leads, and ultimately getting closer to a deal,” Dallas said in a news release.
LivePerson also said that with the click of a button, dealers who are mutual TradePending and LivePerson Automotive customers can activate TradePending in their LivePerson portal.
“From the simple user experience to the provisioning of local, market-centric data, dealers will see huge benefits through this integration,” said LivePerson Automotive senior director, product, Brian Abrams.
He continued, “Combining that with omnichannel trade-in valuation across in-store and messaging, it’s clear that together we're putting dealers in a better position — not only in terms of increased profit but also in the customer experience we’re providing through engaging, multi-channel conversations.”