How the best performing retailers are having success on Deal Builder

Best practice tips to maximise your performance on Deal Builder.

The shift to omnichannel retailing was highlighted as a ‘major force of change’ facing retailers by our COO Catherine Faiers in early 2023. Now in 2024, more than 1,000 retailers have connected their online and offline buying experience with Auto Trader, affording consumers the choice and flexibility to complete more of their purchase journey online. After a successful 12-month invite-only beta trial, we’re ready to share the early learnings on how the best performing retailers are maximising their sales performance with Deal Builder. 

 How to maximise conversion 

The best performing retailers are converting deals at 2x the rate of leads. 

We know that confident car buyers deal faster and more frequently. Building trust and confidence is key to helping the top performing retailers convert at ~80%.  

Here’s a few tips to build confidence through your advertising: 

Reviews

Make sure you have plenty of reviews – Particularly from those who have reserved a vehicle online or that have completed a remote sale. This will give others confidence to follow in their footsteps.

Learn more about dealer reviews here.

Vehicle Descriptions

Make sure the vehicle is described accurately. Cover the finer details on specification and maintenance history so that the consumer doesn’t need to ask questions before they proceed.

Learn more about writing great vehicle descriptions in our dedicated blog.

Images

Take the extra time to get plenty of photographs, particularly those that display the features and specification of the vehicle. Include images of all 4 wheels, the tyres, the infotainment system, the optional extras, key design features, and of course the keys and paperwork.

Watch the images Insight Masterclass here.

Transparency

Be transparent regarding any cosmetic imperfections to the bodywork or any gaps in maintenance history. This will reduce the likelihood of a consumer cancelling a deal later in the process. The goal is to answer any questions a consumer may have in your advert, preventing the need for them to ask any further questions.  

Check out our dedicated advertising masterclass.

How to close deals whilst you’re closed 

45% of deals were submitted when retailers were closed.  

Most of the time spent searching for vehicles in the UK is done out-of-hours. During the Deal Builder trial period, 45% of deals were submitted by consumers outside of normal working hours, when retailers were closed.   

Enabling the consumer to connect with who they’re buying from can be as important as what is being bought when it comes to reaching a purchase decision online.  

Here’s how you can close deals, even when you’re closed:   

Content is king

Consumers are more likely to submit a deal or reserve the vehicle out of hours where they have the key information they need to reach a purchase decision. In instances where consumers are left with questions, they are more likely to want to speak to somebody before they proceed.  

Video

A pre-recorded walkaround video adds that personal touch and replicates the in-person viewing experience. It provides an opportunity to  showcase the features and specification of the vehicle, at the same time as giving the customer an insight into who they’re buying from. Providing the assurances a consumer needs to proceed.

Retailers Stores

Your Retailer Store in an opportunity to showcase your credentials and tell buyers what sets your business apart. This can build confidence and help buyers reach a purchase decision, even when you’re closed.

How to spend less time on administration 

74% of Deal Builder retailers spend less time on admin. 

Investment in advert quality at the outset, including everything we’ve outlined above, is saving retailers time on administration further down the purchase funnel.  74% of Deal Builder retailers who trialled the product said that they spent less time on administration. 

Find out why creating better quality adverts saves you time further down the line: 

• Less time following up on traditional leads – With better quality adverts creating more informed consumers, we would expect to see a decrease in traditional leads asking basic questions about the vehicle.  

• Less time chasing the sale – With more information available to self-serve and options to complete more of the journey online, consumers are generally further down the purchase funnel when they engage, meaning you spend less time chasing the sale.  

• Less time processing finance applications – With the functionality available for consumers to complete a finance application on your adverts, consumers have a better understanding of their finance options before they arrive, meaning you spend less time processing applications at the dealership.  

• Reduce dual-keying with Auto Trader Connect – We’re working with technology partners to connect your existing dealer management systems with Deal Builder, reducing the time spent dual-keying into different systems.  

How to lose less profit on haggling 

57% of Deal Builder retailers say consumers are less likely to haggle.

In a traditional sales-led approach, chasing the sale can open the door to a negotiation on price. While inevitably some consumers will continue to want to negotiate their deal, we’re seeing increasing price confidence from consumers looking to complete more of the deal on Auto Trader. In fact, more than half of the retailers we asked said that consumers were less likely to haggle where they had the option to complete more of their buying journey online.  

• Price to the live market – Retailers that stay on top of their pricing strategy and price relative to the live market are generally in a better position when it comes to negotiation, with the price being more aligned to the live market valuation.  

• Build your value proposition – Consider your overall value proposition. Retailers who offer extended warranty as standard, moneyback guarantee or have outstanding reviews and accreditations generally find it easier to justify the price.  

• Get commitment before negotiating – You’re negotiating from a stronger position after the consumer has committed to reserving the vehicle. Ask the consumer to reserve as a signal of intent before entering into any negotiation on price.   

• Don’t give discount away – Don’t fall at the first hurdle. Drive a hard bargain by explaining to the buyer why the vehicle is priced the way it is, using the Auto Trader Price Indicator as a benchmark to support your case when negotiating.  

If you feel like you could be getting more from Deal Builder, please reach out to your Account Manager or give us a call on 0345 111 0002.

Want to know more? Why not check out our dedicated Deal Builder Insight Masterclass for more top tips and best practice.