TrueCar Marketing Solutions Helps Dealers Conquest New Customers, Drive Service Revenue, and More
- TrueCar Marketing Solutions aims to drive more sales and service revenue for Certified Dealers.
- The company utilizes billions of data points from high-intent car buyers to create individualized marketing solutions.
- The suite of services includes co-branding opportunities, targeted and retargeted messaging, enhanced sponsored vehicle ad listings, and more.
- TrueCar invites dealers attending the 2024 National Automobile Dealers Association Show to visit their display booth to learn more about their offerings.
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Insights
The introduction of TrueCar Marketing Solutions represents a strategic move to leverage the company's extensive data on consumer behavior. By offering a suite of services that include co-branding, targeted messaging and enhanced ad listings, TrueCar is positioning itself as a valuable partner for dealerships aiming to optimize their marketing strategies. The emphasis on data-driven tactics is likely to resonate with dealerships that are increasingly looking for ways to reduce costs and improve margins in a competitive market.
TrueCar's approach of using first-party data to create personalized marketing solutions could be a game-changer for dealers by increasing the efficiency of their advertising spend. This targeted marketing could lead to a higher conversion rate of shoppers to buyers, which is crucial in an industry where margins can be slim and inventory turnover is key to profitability. The focus on retention programs also suggests a long-term strategy to enhance customer lifetime value, an important metric for dealerships' sustained success.
TrueCar's launch of its first auction 'Exchange' marks an expansion into the wholesale solutions space, diversifying its business model. This move could create new revenue streams and strengthen its position in the automotive industry. By leveraging its existing consumer data and platform, TrueCar can potentially disrupt traditional auction models, offering a more seamless and data-informed experience for dealerships.
The integration of a Rankings Recommender tool is an innovative feature that may influence consumer choice at a critical decision point, potentially shifting market dynamics in favor of participating dealers. This could have implications for vehicle sales trends and dealership inventory management, as dealers align their offerings with consumer preferences indicated by TrueCar's data.
The utilization of billions of data points from high-intent buyers is a testament to the power of big data in modern marketing strategies. TrueCar's data-centric approach allows for a high degree of personalization and precision targeting, which can significantly enhance the effectiveness of marketing campaigns. The ability to retarget shoppers with relevant messages across their buying journey is particularly noteworthy, as it speaks to the sophistication of TrueCar's analytics capabilities.
TrueCar's claim of maximizing returns, not ad revenue, suggests a focus on ROI for dealerships rather than just driving traffic. This emphasis on conversion and sales efficiency is likely to appeal to dealerships that are scrutinizing every dollar spent on marketing for tangible outcomes. The differentiation from larger advertising platforms like Meta and Google, which often prioritize reach, could be a compelling selling point for TrueCar's services.
- TrueCar drives purchase-ready customers to dealerships through customized broad and targeted marketing tactics
- NADA attendees can win
$100 K - TrueCar Wholesale Solutions launches its first auction "Exchange," powered by Turn Automotive
"TrueCar knows how to cultivate engaged active car shoppers who are one to two weeks away from purchasing their next vehicle," said TrueCar President and CEO Jantoon Reigersman. "The data we capture from 9 million in-market, low funnel car shoppers who visit our site each month, will be used to create individualized marketing solutions to drive more sales and service revenue for our Certified Dealers."
The company will use its first-party data and agency-level marketing expertise to help drive more highly qualified shoppers to dealers' websites, reduce their operating cost, increase margin, generate incremental sales with faster time to sale, and maximize their marketing dollars with a suite of services including:
- Co-branding opportunities aligning dealer brands with TrueCar and some of its top affinity partners including Fortune 500 companies
- Targeting and retargeting shoppers with relevant messages across the buying journey
- Enhanced sponsored vehicle ad listings for new and used vehicles
- A Rankings Recommender that gives dealers an opportunity to own new vehicle suggestions offered to shoppers
- The opportunity for dealers to highlight their store and inventory on TrueCar's homepage
- Space on TrueCar's vehicle display page to promote a dealership and their direct contact information
- Conquest marketing that uses TrueCar data to place relevant inventory in front of shoppers looking at similar vehicles online
- Advertising program strategy and management across channels such as email, digital platforms like Meta and Google, and even direct mail
- Retention programs to help drive service appointments and encourage repeat business
"While large advertising platforms like Meta, Google and others tout their ability to get dealers in front of car shoppers, their data is built for the widest reach to maximize advertising spend with them," Reigersman said. "Conversely, the data we provide our dealer partners is constantly refreshed and curated for each dealership to target the right conquestable shopper who has a higher probability of purchasing from them. We maximize returns, not ad revenue."
TrueCar invites dealers attending the 2024 National Automobile Dealers Association Show in
Those who visit TrueCar's NADA display will have a chance to win
TrueCar Wholesale Exchange Powered by Turn
With more innovation on the way, Reigersman contends there has never been a better time to become a TrueCar Certified Dealer.
For example, TrueCar Wholesale Solutions, a TrueCar owned subsidiary designed to help generate precise valuation data for consumer-to-dealer sales and remote trade ins, partnered with Turn Automotive to create a digital wholesale app that helps mitigate losses with a warranty covered by Turn.
"TrueCar Wholesale Exchange Powered by Turn provides dealers with confidence that when they accept a customer's trade in that they will be able to move the used vehicle through our exchange marketplace" he said. "That formula helps consumers benefit with better deals since participating dealers have greater incentive to accept trade ins and provides TrueCar dealers with a trade-in process with more attractive offers."
"Turn Automotive provides TrueCar Wholesale Solutions with the back end services required to operate a wholesale acquisition and liquidation process that dealers can use to win trades and sell more cars," said Turn Founder Marc Steiner.
"Digital wholesale options are more important than ever," he explained. "Whether you are a small dealership or franchise group, TrueCar Wholesale Exchange Powered by Turn can help power inventory acquisition, vehicle disposition, and overall wholesale needs."
About TrueCar
TrueCar is a leading automotive digital marketplace that lets auto buyers and sellers connect to our nationwide network of Certified Dealers. With access to an expansive inventory provided by our Certified Dealers, we are building the industry's most personalized and efficient auto shopping experience as we seek to bring more of the process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings and market context on new, used and Certified Pre-Owned vehicles. When they are ready, shoppers in TrueCar's marketplace can connect with a Certified Dealer in our network, who shares our belief that truth, transparency and fairness are the foundation of a great auto shopping experience. As part of our marketplace, TrueCar powers auto-buying programs for over 250 leading brands, including AARP, Sam's Club, Navy Federal Credit Union and American Express.
For more information, please visit www.truecar.com, and follow us on LinkedIn, Facebook or Twitter. TrueCar media email: pr@truecar.com
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SOURCE TrueCar
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