Autotrader is aiming to redefine how retailers connect with automotive buyers with the launch of Buying Signals – a brand new consumer intelligence tool that turns online interactions into actionable insights.
Built on data from greater than 450 million weekly interactions on the Autotrader platform, Buying Signals combines with the corporate’s Deal Builder technology to gives retailers a real-time window into each buyer’s intent, preferences and readiness to buy.
The tool is built around two core components. Buyer Intent measures how likely a customer is to convert based on their behaviour and activity on Auto Trader, helping retailers prioritise leads, tailor their communication and shape pricing strategies to guard margin.
Complementing this, Buyer Preferences reveals the sorts of vehicles shoppers are viewing and the locations they’re searching in, enabling retailers to personalise their approach with relevant offers.
Developed by Autotrader’s in-house data science and engineering teams in close collaboration with retailers, Buying Signals is accessible through Sales Hub within the Autotrader Portal or via Autotrader Connect API integrations.
Insights will appear alongside the corporate’s existing vehicle data tools, including Retail Rating and valuations.
Humphries & Parks director Sam Kingsland-Joy described the brand new tool as transformative: “Buying Signals is a game changer. For a business as small as ours, accessing that data is large. We never really have an excessive amount of access into how a customer is acting online and what they’re , what their preferences are, what they’re all for, and the way far along the buying process they’re.”
The introduction of Buying Signals builds on the success of Deal Builder, which was rolled out to all retailers earlier this 12 months.
Around 6,000 retailers are already receiving high-intent deals via the platform, with top-performing retailers converting over 80% of reserved vehicles. Nearly half of all deals are also made outside traditional business hours, giving retailers ready-made opportunities each morning.
Autotrader’s chief product officer Karolina Edwards-Smajda said: “Buying Signals is designed to deal with key retailer challenges and consumer buying frustrations by bridging the gap between buyer intent and retailer response.
“It’s the final result of continuous learning from the two.7 million each day visits to our platform and understanding how we are able to improve the buyer experience and outcomes for retailers. Testing, refining and investing to support our partners with the absolute best innovation.
Retailers with Deal Builder will begin seeing Buying Signals integrated into their deals from mid-November, alongside a redesigned product page optimised for performance and buyer confidence.
Those not yet using Deal Builder shall be onboarded in the approaching weeks and are encouraged to contact Auto Trader’s 300-strong account team to achieve early access.
This Article First Appeared At www.am-online.com
