Motors.co.uk has transformed the traditionally subscription-based used car advertising model with the launch of its new value-based pricing, which ensures that dealers only pay for the level of consumer engagement that its automotive Network delivers through relevant ‘lead assists’.
Lead assists are defined as consumer engagements with a listed vehicle including via a detailed page view, a call or email to the dealer, viewing the dealer’s location on a map, visiting the dealer website, or sharing details of the vehicle.
Research from Motors.co.uk shows that on average, it takes between 250 and 300 lead assists for an independent dealer to sell a car, with this number varying based on factors such as make, model, price, local demand and image quality. Dealers have full visibility of all lead assists at any time via The Eye – the intuitive online dashboard provided to every Motors.co.uk dealer.
Phill Jones, managing director of Motors.co.uk said: “Our primary job at Motors.co.uk is to get dealers’ cars in front of in-market car buyers. Dealers should, therefore, have an invoice directly linked to the value delivered. This approach gives dealers a performance target and certainty that Motors.co.uk is delivering on its promise. This is underlined through our investment in services, such as our vehicle response tracking platform The Eye, where dealers can monitor Lead Assists, listen to telephone calls and read emails generated by their advertising.
“We passionately believe that dealers should monitor their advertising return on investment and our Value Based Pricing makes this easy for dealers.”
More than 2,000 dealers have already transitioned to the new Motors.co.uk pricing model, including John Ayers Cars in Felmingham, Norfolk. David Ayers, who runs the business with his father, explains: “We will always spend money on advertising that works, and with the flexibility of the price depending on the response, value-based pricing means that we can always work together in a fair manner.”
Jones concludes: “Value-based pricing underlines our commitment to fairness and transparency in our relationship with dealers.”