SAN CLEMENTE, Calif., Jan. 28, 2017 /PRNewswire/ -- DealerSocket, the automotive retail industry's leading integrated technology platform, today announced the launch of its Precise Price™ digital retailing tool at the 2017 National Automobile Dealers Association (NADA) Convention & Expo in New Orleans.
Precise Price is a fully transparent and accurate digital retailing tool that allows customers to calculate the true price of a vehicle and begin structuring the terms of the purchase through an integrated, web-based platform. Precise Price, whether utilized by customers online or sales teams on the showroom floor, integrates with dealerships' CRM and desking platforms for seamless data synchronization of pricing information for a more efficient and transparent desking experience.
Consumer pricing with confidence
Price misinformation and doubt over getting the best deal are leading sources of frustration for car buyers, compromising trust and confidence in the transaction. According to the 2016 Dealership Action Report, distrust toward salespeople is the top reason customers dislike the car-buying process.
"Precise Price accelerates the lengthy desking process and educates consumers with greater transparency to evoke customer trust and confidence in the car purchasing experience," said Aaron Schinke, Director of Product Management at DealerSocket. "There should be no surprises when a customer walks into a dealership. Precise Price helps put everything on the table in advance, creating a more enjoyable and efficient experience for both the dealer and customer."
Precise Price puts all of the information in the customer's hands, allowing them to be at the center of the deal and to lead the purchase with confidence, without providing personal information or creating an account. It also allows consumers to get the exact same price at home as they would in the dealership — no guesses or estimates. Dealers also build customer trust through utilization of a familiar pricing platform, and shared access of the calculated deal.
Precise Price incorporates all possible price influencers, including:
- Dealership incentives and fees
- State and local taxes
- Trade-in evaluation
- Down payment
- F&I protections
- Vehicle protections
- And more
True time savings
Precise Price is an exclusive integrated solution that offers true time savings for both dealers and customers. When customers initiate a transaction and desired payment structure on a dealer's website, the information is automatically synced to the dealer's CRM. This eliminates duplicate efforts by sales teams re-collecting customer information at the time of the visit. When the customer walks through the door, the deal is ready to send to the dealer's DMS, saving the dealer and customer valuable time.
Seamlessly access the deal on any device at any time
The tool is mobile friendly and responsive so both dealers and customers can easily access the deal. With an industry-first "Save & Finish Later" functionality, customers are able to pick up exactly where they left off on any device at any time. Team members can also structure deals in-store to be sent to customers for revisions and completion from anywhere.
Unlike other third-party pricing models, DealerSocket's digital retailing solution uniquely allows every dealer to brand Precise Price as their own and keep the customer on their own website and within their system. The tool does not redirect customers to a third-party website, allowing dealers to market precise digital retailing as part of the customer service offerings.
DealerSocket is a leading automotive technology platform that helps dealerships in the United States, Canada and Australia improve profitability through a fully integrated suite of marketing, sales, service, customer experience, DMS, data mining and inventory management solutions. Headquartered in San Clemente, California, DealerSocket employs more than 1,000 people and serves 11,000 dealerships and 300,000 active users in the United States, Canada and Australia. DealerSocket's advanced technology provides benchmarking data that paces the industry, and its insightful experts identify trends and develop strategic roadmaps that help dealers optimize processes and operate more profitably. Visit DealerSocket.com for more information.