TradePending TV

Killer Stats from Service Lane Sourcing

We’ve got a really interesting story to share today about sourcing from the service drive, and we’re pulling in an assist from our friends at FRIKINtech. 


When TradePending talks about sourcing from the service drive, it’s usually around providing simple ways for your customers to easily get a value for their car while waiting in the waiting room, throwing a hang tag on the mirror, or printing out a valuation report and stapling it to every completed repair order.


Those are all great tactics, and you should do them, but we’ve got another option for you to consider, and it’s a nice example of how other companies use the TradePending API. 


Our friends at FRIKINtech recently shared some absolutely stunning stats with us, and we’ll get to those in a second. Their service IQ product looks at the vehicles coming in for service. Through our API, they can value the car and then determine if a customer is in a good position to get out of it and whether the dealer wants it.


And these service customers are a great audience for sourcing inventory, because they’re the type of people who take care of their cars, and there’s a great chance they didn’t buy from you originally, so you’ve got an opportunity to win them over.


The results? FRIKINtech dealers are now seeing 1 out of every 3 used cars sourced come from this approach, which is absolutely mind blowing. 


Hey Alex and team at FRIKINtech – great job with this and thanks for sharing it with us.