Does anyone have any comments on the effectiveness of online trade-in value tools?
As far as I know, there are only really 2 available.
Black Book Online (Activator)
I’m sure at one point or another, almost every Internet sales manager has used one or even both of these online trade evaluation tools for your dealers website. I have read a few studies that show adding the an online trade appraisal tool to your dealers website could increase conversion rates another 1-2%.
We just started with one of the above trade tools, but it was a tough decision on which one to go with.
Kelly Blue Book has such a reputable name on the consumers eye BUT I always fear that the consumer has already been there. According to KBB and several other studies, it’s one of the most consumer visited websites. If the customer has already been there, than does my chances of converting lessen? OR since I have the KBB Trade-in value logo on my site, does that give our dealer more validity?
What about the actual car values? There are many times a large difference between the two companies values.
Are there other trade-in tools that I’m not aware of?
What has been your experience?
Internet Sales Manager