LivePerson Automotive, a division of global conversational commerce solutions provider LivePerson, Inc., announced recently that TradePending's trade valuation tool will be integrated into LivePerson's conversational platform for auto dealers.
For consumers and dealers, trade is one of the most important elements of the car-buying and selling processes, as consumers rely on the trade-in value of their existing vehicle to fund their new one, while dealers use trade-ins as a source of profit in the certified and used car markets. According to National Automobile Dealers Association data, 60% of car sales in the United States involve trade-in.
Dealers who are mutual LivePerson Automotive and TradePending customers will be able to provide an omnichannel experience for consumers by extending the same trade-in valuation tool they use across digital properties and in-store processes to LivePerson's conversational commerce platform. LivePerson Automotive's platform enables the trade-in experience to be delivered through preferred messaging channels — including SMS, Facebook Messenger, Android Messaging, WhatsApp, and Apple Business Chat — to increase lead volume and engage consumers in asynchronous messaging conversations that take place on the consumer's time.
The new integration, which launches on August 16, 2019, will provide access to TradePending features that produce high conversion rates, like predictive search and a simple user experience. TradePending works with around 8,000 dealers and websites, and their predictive search technology shows 26% form completion rates compared with 5% on traditional trade tools.
"What we're seeing here is a huge methodology shift for dealers," said Joe Dallas, Chief Business Officer at TradePending. "Over the course of a natural messaging conversation, dealers are getting more connection points with their consumers, more detailed info about these new leads, and ultimately getting closer to a deal."
Dealers who are mutual TradePending and LivePerson Automotive customers will be able to activate TradePending in their LivePerson portal with the click of a button.
"From the simple user experience to the provisioning of local, market-centric data, dealers will see huge benefits through this integration," said Brian Abrams, Senior Director, Product at LivePerson Automotive. "Combining that with omnichannel trade-in valuation across in-store and messaging, it's clear that together we're putting dealers in a better position — not only in terms of increased profit but also in the customer experience we're providing through engaging, multi-channel conversations."
SOURCE LivePerson Automotive