The rise of online marketplaces has revolutionised the automotive industry, making it easier for both sellers and buyers to connect and transact. However, one of the biggest challenges for retailers and marketplaces is determining attribution – the ability to trace a sale back to where the consumer first interacted with the product. This is particularly difficult for online marketplaces that don’t physically own the product, such as a car seller or retailer. In this blog, we’ll discuss how AutoTrader is addressing the attribution challenge and helping car dealers improve their businesses.
Connecting All Systems for Enhanced Attribution
To reduce the number of clicks needed to attribute a sale and get as close as possible to the transaction of selling or buying a car, AutoTrader connects all of its systems, both front-end and back-end. By integrating various systems, we provide valuable data to car dealers, consumers, and the industry. This data helps to construct consumer journeys and provides insights into how consumers are interacting with products on the platform.
Millions of Data Points for Informed Decision-Making
With millions of data points collected from car shoppers’ interactions, AutoTrader can construct detailed consumer journeys and provide reports to car dealers and consumers. These reports offer insights into the path car shoppers take from initial product interaction to the final sale. Car dealers can use this data to better understand car shopper behaviour and in turn car dealers make informed decisions about their stocking, pricing, and marketing strategies.
Paid Products for Enhanced Attribution Understanding
In addition to the reports, AutoTrader offers paid products to car dealers to help them better understand attribution. These products include more detailed reports and analytics that dealers use to identify the most effective marketing channels and make data-driven decisions to optimise their business. With these tools, car dealers gain a competitive edge in a crowded online marketplace and increase sales.
Helping Car Dealers Improve Their Business
The ultimate objective of AutoTrader’s attribution efforts is to help car dealers improve their businesses. By providing valuable data and insights into consumer behaviour, AutoTrader helps car dealers make informed decisions that drive sales and revenue growth. The platform’s commitment to enhanced attribution and data-driven decision-making makes it an essential tool for any automotive retailer looking to thrive in the digital age.
In conclusion, online marketplaces have transformed the automotive industry, but the attribution challenge remains a significant hurdle for car dealers. AutoTrader is addressing this challenge by connecting all of its systems and using millions of data points to provide valuable insights into consumer behaviour.
