TrueCar Dealer Newsletter: Q2 2013 TrueCar Dealer Newsletter: Q2 2013 Dear TrueCar Certified Dealer Partner, We’re pleased to introduce our first quarterly TrueCar Dealer Newsletter, covering TrueCar product features, updates on promotional activity, training updates, and other information to help your Dealership succeed with the TrueCar service. Thank you for your continued support and partnership. Ken Potter VP, TrueCar Dealer Development Dealer Tools - Moving More Metal The TrueCar Dealer Portal includes several features to help Certified Dealers better manage their TrueCar business. Adopting these features can significantly improve your performance. Want to learn more? Check out the training and webinar schedule on the last page of this newsletter, or reach out to your Account Manager at 866.480.1313 for a customized training session on how to utilize these features. DEALERSHIP PROFILE CREATE OFFER Completed Profile A completed Profile that effectively showcases your Dealership can increase close rate by 13% compared to Dealers that haven’t completed their Profile Create and Email an Offer from the Dealer Portal Dealers who use the Create Offer Tool to create itemized offers on specific in-stock vehicles see a 36% lift in close rate on average Incomplete Profile USED VEHICLE DISCOUNT* Providing a used vehicle discount from the final negotiated price to registered customers can dramatically increase your sales. For example, on the USAA Car Buying Service, Certified Dealers that provide a used vehicle discount sell more than 4 times as many used vehicles to USAA Members than Dealers that don’t provide a discount. The minimum discount to participate is $100. UPDATED PRICING Dealers that update new vehicle pricing in the Dealer Portal at least every 2 weeks typically sell 25% more cars than Dealers that only update every 4+ weeks Used Vehicle Discount Dealer Portal Pricing Page *not available in all States Page 1 TrueCar Dealer Newsletter: Q2 2013 TrueCar Network of Sites We are constantly working with our network of over 300 partners to aggressively promote their branded car buying services to their members, customers and employees. Select scheduled promotions and activities include: USAA USAA Car Buying Service and Subvention Promotion USAA is updating their “My Accounts” page to make the Car Buying Service much more visible to USAA Members. The “My Accounts” page on USAA.com gets 32 million impressions per month from logged-in USAA Members and we expect a significant increase in USAA Members contacting TrueCar Dealers. In addition, USAA is training over 200 Member Service Representatives to help better educate Members about the Car Buying Service and TrueCar Dealers. USAA is also running a “Special Offer” subvention promotion that will be promoted heavily throughout USAA.com as well as be included in the Annual Report that goes out to over 5 million Members. PENFED PenFed Loan Subvention Promotion Optimizations to PenFed’s website,including the Auto Loans section, the dedicated Car Buying Service page, and the Auto Loan Calculator have led to increased usage by PenFed Members. We have also integrated more deeply with their internal systems to drive more traffic directly to the Car Buying Service. PenFed’s loan subvention program is also continuing to be very successful at driving qualified traffic to Certified Dealers. As with USAA’s program, the PenFed Member only qualifies if they purchase from a Certified Dealer to whom they have submitted their information. CONSUMER REPORTS Ongoing website improvements have increased in-market traffic through the Consumer Reports Build & Buy program. Several other program enhancements are in the works for later in the quarter, including the pilot launch of a used vehicle program. Recent AAA South Editorial AAA PROGRAMS Many AAA programs are running promotions to drive more traffic to their Car Buying Service. Examples include: • AAA Mid-Atlantic is piloting the ‘Test Drive and Save’ Program, designed to encourage Members to visit their Certified Dealer to test drive the car that best meets their needs. Members who test drive at a Certified Dealer are eligible to receive a $25 gift card. • AAA South has a 2-page editorial launching in the Going Places magazine distributed to 2.6 million households • AAA Southern New England is doing a Memorial Day email blast to 1.8 million Members Page 2 Take Control of the Wheel with the AAA Auto Buying Program By Stephen M. Wheeler Buying a new car can be a stressful experience. Even when you know exactly what you want, the negotiation and haggling over options and pricing can stifle even the most enthusiastic shopper. But it doesn’t have to be that way. The AAA Auto Buying Program has two new tools that put the power— and dare we say, fun?—back into your hands while you save time and money. Accessible from AAA.com/AutoBuying or your Apple iPhone, they make buying a new car easier and more transparent than ever. SAVINGS CERTIFICATE 1. Research your car at AAA.com/AutoBuying The first step is researching your car. Even if you’ve got a good idea of what you want, there are still trim lines, options and colors to choose from. The AAA Auto Buying Program has all that and more. You can easily select makes, models and options, plus compare different vehicle choices, learn about available incentives, check crash safety ratings, read AAA reviews, view picture galleries and more. 2. Learn what others paid 3. Print a golden ticket The AAA Auto Buying Program is powered by TrueCar price reporting. Available with national, regional and local data, TrueCar reveals what others have paid for cars with the same features as the one you have chosen. Plotted as quadrants on a bell curve, TrueCar shows the manufacturer’s suggested retail price (MSRP), the market average, the factory invoice and the dealer cost. Everything is transparent, so you’ll know instantly if the Estimated Price you were quoted is a fair price. Once you’ve got “the one” in mind, you’re ready to locate a certified dealer. Submit your request online, and the dealer will contact you to arrange a convenient meeting time. While online, print out your AAA Member Savings Certificate, then take it with you to the dealer. The report is like a golden ticket; it lists your Estimated Price along with the dealer’s and representative’s names. Your golden ticket ensures a hassle-free car buying experience. AAA Email Campaign TrueCar Dealer Newsletter: Q2 2013 INSURANCE COMPANIES Allstate Car Buying Service We continue to make inroads with insurance channel partners who value TrueCar Certified Dealers for their commitment to a no-hassle car buying experience. Highlights include: • GEICO billing inserts to millions of GEICO policyholders • Allstate Affinity & Total Loss dedicated email to 400,000+ Texas policyholders • Exciting optimizations to our Total Loss platform so more high-quality total loss customers contact Certified Dealers GECIO Billing Insert GEICO Total Loss Car Buying Service EMPLOYEE PURCHASE PROGRAMS TrueCar-powered Employee Purchase Programs continue to gain traction with leading employers and Fortune 500 companies including Disney, Coca-Cola, Walmart, Boeing, Macy’s, IBM, Home Depot, Delta, Wells Fargo, and GE. Sales volume is up 200% nationwide (versus Q4 2012) due to increased marketing efforts. TRUECAR.COM In addition to partner-specific marketing, TrueCar continues to conduct marketing campaigns to promote Certified Dealers. We are airing our TV commercials, “The Right Price” and “Smart Consumer”, reinforcing TrueCar as the source of transparent pricing information and highlighting the Guaranteed Savings offered at Certified Dealers. In February, we launched a new testimonial-focused TV campaign, where actual TrueCar.com users explain how TrueCar Certified Dealers deliver a great car buying experience. Page 3 Watch TrueCar TV Commercials at www.TrueCar.com/Dealer TrueCar Dealer Newsletter: Q2 2013 Training & Webinar Schedule TrueCar conducts Dealer training – at no cost – for new and existing TrueCar Dealers. These training sessions are designed to give you a full understanding of how the TrueCar service works, allowing you to better leverage your status as a TrueCar Certified Dealer into improved close rates and sales volume. We will also hold custom training sessions when and where you need it. Contact your Account Manager at 866.480.1313 for more information or to register for the sessions below. Q2 2013 MARKET MEETINGS DATE Q2 2013 DEALER WEBINARS DATE San Diego, CA 4/10/2013 Understanding and Maximizing the TrueCar Customer Experience 4/9/2013 San Antonio, TX 4/17/2013 4/16/2013 Fairfax, VA 5/8/2013 Maximizing Sales Using the TrueCar Dealer Portal 4/18/2013 Orlando, FL 5/8/2013 Best Practices of Successful TrueCar Dealers: Email & Getting Customers to Respond Cerritos, CA 5/9/2013 Using the TrueCar Create Offer Tool to Improve Close Rates 5/7/2013 Teaneck, NJ 5/14/2013 Welcome to TrueCar: An Introduction for New Certified Dealers 5/9/2013 Houston, TX 5/15/2013 (AR, CO, KS, MD, NE, OR, TX, VA, WA only) Federal Way, WA 6/11/2013 Best Practices of Successful TrueCar Dealers: Effective Phone and Text Techniques 5/14/2013 Mesa, AZ 6/11/2013 Coral Gables, FL (All states except AR, CO, KS, MD, NE, OR, TX, VA, WA) and 5/16/2013 6/11/2013 6/12/2013 Welcome to TrueCar: An Introduction for New Certified Dealers (All States except AR, CO, KS, MD, NE, OR, TX, VA, WA) Atlanta, GA 6/17/2013 6/18/2013 Austin, TX 6/19/2013 Best Practices of Successful TrueCar Dealers: Overcoming Customer Objections Chicago, IL 6/19/2013 Best Practices of Successful TrueCar Dealers: Providing a Seamless In-Store Experience and 6/20/2013 6/11/2013 and 6/13/2013 Industry Update TrueCar will be attending the following Conferences in Q2 2013. We look forward to seeing you there! Q2 2013 CONFERENCES April 14-15 Miami Automotive Leadership Roundtable & Awards Event April 21-22 New York DrivingSales Presidents Club May 7-9 Orlando Digital Dealer 14 Conference & Exposition June 23-27 Las Vegas National Independent Automobile Dealers Association Convention & Expo Page 4
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