That trade-in tool on your website? What’s its job? What should it do? What do you want it to do? There’s the obvious answer, then there’s the answer that helps your bottom line.
Of course, the trade-in tool’s #1 job is to help your customers get a value on their car or truck. There are a handful of wonderful companies, including TradePending, that can do that.
The tool’s 2nd job is to convert your website traffic into leads into conversations into appointments into sales. Here’s where all of us vendors start to express our “creative differences” on how best to accomplish that.
Some of the big brand well-known vendors whisk the customer away off your site because they want to own that customer relationship and that data. If you ask them, they’ll stop doing it, but you have to ask them. Please, ask them.
Some vendors want the customer to answer 75 questions, and upload videos and photos of their car. This is great for the small percentage of customers willing to invest 20-30 minutes, but everyone else is gonna bounce.
Our approach: get the basics in just a few seconds, give them a value and convert them, then give them the option to answer more detailed questions to get that guaranteed single price offer.
Here’s what I’m preaching: You’re spending a shitton of money driving traffic to your website. If you’re not taking every opportunity to turn as much of that into new business opportunities, your return on investment could be better.
Said another way, if you’re trade tool isn’t the #1 or #2 lead generator on your site, you’ve either got a different strategy (and that’s okay), or it’s time to look for alternatives.
Frequently Asked Questions
What is the primary purpose of the trade-in tool on your website?
The main purpose of the trade-in tool is to help customers obtain a value for their car or truck. It provides an estimate of what their vehicle is worth, which can aid them in making informed decisions.
How does the trade-in tool benefit my business?
The trade-in tool converts website traffic into leads, which can then be turned into conversations, appointments, and ultimately, sales. It is a crucial component in maximizing your return on investment by generating new business opportunities.
Why is it important for the trade-in tool to be one of the top lead generators on my site?
If the trade-in tool isn’t your #1 or #2 lead generator, it may indicate that your strategy needs adjustment. Ensuring that the tool effectively captures leads can significantly improve your site’s performance and your overall business success.
What are the potential downsides of using well-known trade-in tool vendors?
Some big brand vendors might redirect customers away from your site to control the customer relationship and data. This can dilute your brand’s engagement with potential leads. However, you can ask them to stop doing this if it does not align with your strategy.
What is the optimal customer experience when using the trade-in tool?
An optimal experience involves obtaining basic information from customers quickly to provide them with a vehicle value. Customers are then given the option to provide more detailed information for a guaranteed price offer, balancing efficiency with thoroughness.
How can the trade-in tool improve my return on investment (ROI)?
By efficiently converting traffic into leads, the trade-in tool helps maximize the effectiveness of your marketing spend. If leveraged correctly, it can significantly enhance your ROI by turning website visitors into potential sales.
What should I do if my current trade-in tool is not performing as expected?
Consider evaluating alternative tools that better align with your business strategy and lead generation goals. A tool that efficiently captures leads and provides value to customers can boost your website’s performance and overall sales.
