How we’re evolving our consumer experience to help you build your sales pipeline
By Catherine Faiers, Auto Trader COO
The impacts of Covid-19 on the industry and our marketplace have been profound. With UK retailers closed for business and consumers unable to purchase vehicles, we are all responding to a unique set of challenges.
Despite this backdrop, there are signs that underlying consumer demand is robust. Since the weekend, we have seen the number of saved vehicle searches by consumers increase to 8,000 per day, which is a significant +8% increase on last year. Our consumer research also shows that people are still looking at vehicles to buy, albeit not immediately. Of consumers visiting Auto Trader, 58% said they still want to buy, just not right now. A further 25% said they’re in their research stage, whilst 14% said they’re looking to buy imminently. Only 3% said they’re no longer looking to buy.
Importantly, 88% of shoppers said they will be spending the same amount or more time researching online whilst in lockdown. Of those shoppers, most consumers (53%) now prefer to contact retailers via email, followed by phone (28%) and live chat (9%).
So, the data suggests that opportunities remain for retailers to successfully build their sales pipeline, even amidst the huge challenges posed by the current crisis.
At Auto Trader, we’re very aware of our responsibility to support our people, our customers and the wider industry. You’ll hopefully be aware of the support we’ve already committed to retailers (you can read more about it here), but I wanted to give you a view of what we’re doing to keep consumers engaged with our platform to help you build your sales pipeline:
Offering advice for buying safely
Whilst government advice is changing on a daily basis, we’re making it very clear to consumers that their safety and that of others should be their number one concern. We’re directing consumers to this advice article through traffic drivers on our website, as well as through email and social channels.
Updated messaging within your adverts
Next to the map view within your adverts, we’ve added messaging advising consumers that dealerships are currently closed and that they should make contact with you via the contact options available within your adverts. To increase your chances of connecting with those consumers, we’d recommend enabling all contact methods including Live Chat and Text, you can read Marc Thornborough’s practical tips here.
Increasing our focus on digital content
With consumers spending (even) more of their time online due to the lockdown, we’re investing more effort into social media, editorial and PR content to further increase our visibility to consumers. Our goal is to build a pipeline of engaged consumers on Auto Trader, that converts into your sales pipeline as soon as the market returns.
What you can expect to see more of from Auto Trader
I wanted to leave you with this short summary of what you can expect to see from us over the coming weeks:
Continued support while the UK is in the current severe lock down. We are monitoring the situation closely and are ready to act when we have more guidance from the government on the likely duration of the lock down.
Data and insight to help you navigate this challenging market and remain on the front foot when the market begins to return. Expect new features in our recently launched Market Insight tool in the coming weeks.
New retailer and consumer tools that we believe will support the goals of both groups in the current car buying journey.
Consumer marketing focused on social, content and channels where we see consumers spending more of their time, to build a sales pipeline, ready for when the government advises its safe to buy and sell vehicles again.
We are all in this together and our goal is to support you as much as we are able in the coming weeks.
We hope you are all safe and well. Take care and stay home.