February 25, 2022
Dealership Quadruples Closing Rates with Offer
Despite the inventory sourcing challenges we’ve seen and will continue to see this year, TradePending customers continue to succeed in acquiring vehicles directly from the public.
Offer by TradePending is the tool that dealerships need to ensure that they can convert leads at the highest possible rate. With just a few questions, Offer can provide potential leads with an accurate, up-to-date vehicle valuation.
One eastern North Carolina dealership, which wished to remain anonymous, has been absolutely crushing their numbers in their market. They use Offer, our solution for dealers to configure the questions they ask consumers and the deductions they apply when valuing a trade-in. The consumer gets a single price offer, and the dealer gets a more qualified, lower-funnel lead with a higher likelihood to convert into a sale or trade.
After signing up with Offer in mid-November, they presented customers with 65 purchase offers over the next 3 months. During that time, those 65 leads turned into 13 sales.
This 20% conversion rate represents a quadrupling in closing rates over their typical 5.1% conversion rate from trade-in leads.
For the most accurate, configurable, and quickest valuations that generate the highest ROI in the automotive industry, check out Offer.