Dealertrack Technologies (Nasdaq: TRAK) today announced that its innovative Digital Retailing Solution has generated more than 17 million monthly payment views on websites1 in December, 2013.
In addition, the company stated that dealers using Dealertrack’s FinanceDriver tool, part of its Digital Retailing Solution, yielded an average lead-to-sales conversion rate of 25 percent, which is significantly higher than the recent industry average for typical website lead-to-sales close rates.
“Dealertrack, along with more than 500 digital retailing dealers, are on the front-end of the innovation curve, where we are improving the overall research and car buying experience for consumers,” said Raj Sundaram, executive vice president and group president, Dealer Solutions, Dealertrack. “The recent 17 million views in December is representative of the growing number of consumers looking to complete more of the vehicle buying process online, and Dealertrack is well positioned to support dealerships in their efforts to improve their website experience.”
The Dealertrack Digital Retailing Solution consists of several dealer-controlled website tools designed to leverage digital retailing workflows to drive consumers further into the sales and trade-in processes before they ever walk into a showroom. The Digital Retailing Solution, which includes SmartFind, PaymentDriver, FinanceDriver and TradeDriver, allows consumers to calculate real payments, apply for financing and retrieve realistic trade-in values directly from a dealer’s website.
Using Dealertrack’s PaymentDriver tool within the Digital Retailing Website Solution, real finance and lease payment options associated with specific vehicles are presented to consumers. The options, lenders and vehicles are all controlled and pre-determined by the dealership. After a consumer views a payment, they have the option to submit their information, creating a finance lead for the dealership.
Dealertrack will demonstrate new Digital Retailing enhancements to help improve customer presentation and workflow, as well as mobile-enabled digital retailing tools, at the upcoming National Automotive Dealers Association Convention and Expo 2014 (NADA 2014) in New Orleans (Booth #2811).
“Our continued enhancements and improvements to the solution are based on dealers’ feedback and experiences. The changes will further help to enable the future of digital retailing, and will result in a higher than the recent industry average for website lead-to-sales close rates for progressive dealers who embrace these tools,” said Sundaram.
About Dealertrack Technologies (www.dealertrack.com)
Dealertrack Technologies’ intuitive and high-value web-based software solutions and services enhance efficiency and profitability for all major segments of the automotive retail industry, including dealers, lenders, OEMs, third-party retailers, agents and aftermarket providers. In addition to the industry’s largest online credit application network, connecting more than 20,000 dealers with more than 1,400 lenders, Dealertrack Technologies delivers the industry’s most comprehensive solution set for automotive retailers, including Dealer Management System (DMS), Inventory, Sales and F&I, Interactive and Registration and Titling solutions.