Save on Leads: The Power of Lead Pausing
In today’s highly competitive automotive market, dealers need every advantage to optimise their operations and maximise profitability. Two powerful tools from Cox Automotive Australia, AutoRadar and SmartPublisher, can work in tandem to provide dealers with market insights and advanced lead management features. One standout feature in SmartPublisher, Lead Pausing, can significantly reduce lead costs by allowing dealers to pause leads on high-demand stock, saving on unnecessary leads and allowing sales teams to focus on converting the leads already acquired.
In this blog post, we’ll explore utilising AutoRadar for market insights and how SmartPublisher’s Lead Pausing feature can provide a new dynamic approach to managing leads and inventory.
Harnessing Market Insights with AutoRadar
AutoRadar is a robust platform that provides intelligent market insights and comprehensive inventory analysis. By leveraging its automotive-focus data features, dealerships can fine-tune their used car pricing strategies to align with market trends and demands. Here’s how AutoRadar can benefit your dealership:
- Inventory Analysis: AutoRadar allows you to compare your inventory’s age, mileage, and advertised price against competitors. This meaningful analysis helps you position your vehicles more effectively in the market.
- Real-Time Market Data: With insights into listing volume, trade-in values, and advertised prices per state, AutoRadar enables you to make informed decisions based on current market conditions. This real-time data ensures that your pricing strategy is always competitive and reflects market trends.
AutoRadar is accessible through the Cox Automotive’s online dashboard and offers a user-friendly interface across all devices. This means you can access critical market insights conveniently, ensuring your dealership remains agile and responsive.
Optimising Lead Costs with SmartPublisher’s Lead Pausing
SmartPublisher is a versatile inventory management system that lets you centrally manage and distribute your inventory across leading advertising platforms. One of its most impactful features, Lead Pausing, can dramatically reduce your spend on leads. Here’s how:
- Automated Lead Management: Lead Pausing allows you to set a threshold for the number of leads a particular vehicle listing can attract. Once this threshold is reached, the vehicle is automatically withdrawn from selected advertising websites. This prevents overspending on leads for high-demand vehicles, allowing your sales team to focus on converting the existing leads.
- You are in control: You can choose which classified websites to apply Lead Pausing, giving you control over your lead management strategy. This customisation ensures you’re not paying for leads from channels you already know to have a high conversion rate.
AutoRadar Insights and Lead Pausing in Action
To illustrate the synergy between AutoRadar and SmartPublisher, let’s consider a practical example:
Suppose AutoRadar reveals that SUVs in your inventory with less than 50,000 kilometres are in high demand and typically attract a premium price in your PMA. This insight allows you to adjust your pricing strategy to reflect the market demand, ensuring that these vehicles are competitively priced to attract buyers quickly.
Armed with this data, you can use SmartPublisher’s Lead Pausing to prevent receiving extra leads from these high-demand SUVs once you reach a certain threshold. Once the lead count for a particular SUV reaches this threshold, SmartPublisher will automatically withdraw the listing from the selected advertising sites you selected in Lead Pausing. This strategic move prevents overspending on acquiring additional leads for a vehicle with a high probability of selling fast.
The Synergy of AutoRadar and SmartPublisher
When used together, AutoRadar and SmartPublisher create a powerful synergy that enhances your dealership’s operational efficiency and profitability. AutoRadar provides the data-driven insights needed to optimise your inventory pricing and positioning, ensuring you attract the right buyers. Meanwhile, SmartPublisher’s Lead Pausing feature ensures that your lead management is cost-effective and efficient.
To learn more about AutoRadar visit coxautoretail.com.au/products-services/autoradar/ and SmartPublisher visit: coxautoretail.com.au/products-services/smart-publisher/
