Yes, we’re gonna toot our own horn, but sometimes our horn needs tooting. That horn is our Payments product, which helped a dealer gross $38K last month. Welcome to TradePending TV.

You’re looking at a list of lead sources for a Honda dealer and customer from last month, and the resulting gross revenue from those lead sources. We’ve got the company names obscured because that’s not the point. You can see our Payments product, and the list is comprised of both the big brand names and everybody else. 

Back to tooting our own horn…Payments leads the way in total gross, coming in at $38K in a single month from a single store. Kudos to the dealer for closing that business! But what’s the bigger picture?

These results demonstrate why it’s so important to understand the difference between a tool like Payments, one that is crazy good at turning your hard-earned website traffic into appointments and sales, vs. the full-blown digital retailing or appraisal process that takes a long time for someone to complete and aren’t really built to convert. 

You need both kinds of solutions to cater to buyers at all stages of their shopping journey, but for 95% of website visitors that just want their monthly payment information quickly, or to browse your inventory by what they can afford, this is what you need, and those customers will reward you with their business.

FAQs

What are the notable differences in user experience or conversion rates between these types of solutions?

TradePending’s Payments product distinguishes itself from full-blown digital retailing or appraisal processes by focusing on efficiency and simplicity in converting website traffic. Unlike lengthy processes that may deter customers from completing transactions, Payments offers a streamlined approach tailored to the needs of the majority of website visitors. By providing quick access to essential information without requiring extensive time investment, Payments enhances user experience and increases conversion rates.

What strategies can dealerships implement to capitalize on this insight?

The success of TradePending’s Payments product highlights the importance of offering solutions that cater to buyers at different stages of their shopping journey. While full-blown digital retailing or appraisal processes serve a valuable purpose for customers further along in the buying process, the majority of website visitors prioritize convenience and accessibility when seeking information about monthly payments or browsing inventory. Dealerships can capitalize on this insight by implementing tools like Payments to meet the needs of early-stage shoppers and drive engagement and sales. By providing a seamless user experience and addressing customers’ immediate needs, dealerships can effectively convert website traffic into appointments and sales, ultimately driving revenue growth.