EATONTOWN, N.J., Jan. 22, 2019 /PRNewswire/ -- Edmunds, the car shopping experts, turned to PCG Research, a trusted source by dealers for unbiased analysis of vendor products, to create a research report about its brand new trade-in tool that is simultaneously dealer-centric and focused on the customer mobile experience.
For many shoppers, finding an accurate and quick valuation of their trade-in while going through the car buying process is just as important as finding the perfect vehicle. Edmunds streamlines this process with an entirely native trade-in tool that uses proprietary Edmunds data combined with artificial intelligence and predictive search to efficiently appraise a trade-in online.
Considering factors such as keystrokes entered, Google Analytics transparency, and the need for immediate gratification from today's mobile consumer, Edmunds managed to create a tool that leads to a Form Completion Rate of 40 to 45 percent, significantly higher than the 20 to 30 percent benchmark that is considered to be the goal for most forms.
PCG Research concluded that nearly half of all consumers going online to do their shopping are using their mobile phones, and until now, there hasn't been a trade-in tool to fully take advantage of that demographic. Dealers can utilize Edmund's trusted brand name and optimized tool to provide a solution to a frustrating problem faced by many of their shoppers.
"One of the sticking points in the evolution of digital retailing is the trade-in process," said Brian Pasch, founder of PCG Research. "Dealers need to rethink their strategy of presenting penny-perfect payments online if their trade-in tool does not provide realistic, transactable prices. Edmunds raises the bar with their trade-in tool and dealers should take notice."
"Today's web-savvy shoppers are conditioned for speed and aren't likely to complete slow, clunky web forms," said Nick Gorton, vice president of product innovation at Edmunds. "If dealers want to effectively attract, retain and convert mobile shoppers, implementing the most technologically advanced online tools is essential."
Dealers interested in reading about the groundbreaking trade-in tool can download the PCG Research Report for free at www.pcgresearch.com/edmunds. For more information about Edmunds, please visit www.edmunds.com, and www.pcgresearch.com for more information about PCG Research.
About PCG Research
PCG Research provides in-depth product research services to the automotive community. Our proprietary research, product feedback, application testing, and customer surveys enhance and compliment product development and marketing for companies selling to the automotive dealer network. With 20+ reports published since 2015, our research gives the vendor community a powerful set of tools to support their sales and marketing efforts, and gives the dealer community a trusted source to guide them when choosing new products.
Edmunds guides car shoppers online from research to purchase. With in-depth reviews of every new vehicle, shopping tips from an in-house team of experts, plus a wealth of consumer and automotive market insights, Edmunds helps millions of shoppers each month select, price and buy a car with confidence. Regarded as one of America's best workplaces by Fortune and Great Place to Work, Edmunds is based in Santa Monica, California, and has a satellite office in Detroit, Michigan. Follow us on Twitter, Facebook and Instagram.
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