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I don't know if anyone feels the same way about Trade-In Leads, but I think they are amazing (other than your own website leads of course)! They give you an opportunity to assist people by addressing concerns about their current vehicle rather than complete focus on their replacement vehicle. As we all know, when we receive a new or used car lead from our website or 3rd Party Lead Provider, the main objections we receive are Price, Availability, Convenience, Better way of doing business, or just Researching online at this time. When we receive Trade-In Leads this gives us an opportunity to build value and establish a relationship with our customer's by pacing the conversation about the customers vehicle rather than sole focus on the replacement vehicle. Typically if a customer does a trade in lead, there primary concern is wondering how much they will receive for there vehicle, because they want to receive "top-dollar" for there's and pay "bottom-dollar" for ours right! Well here is what is so great about trade-ins, by building value on how important there vehicle is to your lot regardless if they by a vehicle from you or not is what will set you apart. Asking series of questions like: Where did you purchase this vehicle? Was it new or used? How would you rate the overall comfort of your vehicle? What was the primary use of your vehicle? What did you like most about your vehicle? How would you rate the exterior of your vehicle on a scale of 1-10? And the list could go on and on! You can really have fun with these leads and build some good rapport with your customers. Another good practice is to tell the customer your process for evaluating trades. If a customer from 100-200 miles away says why should I consider trading at your dealership? Then you should respond with a thorough process that separates you from your competition.

I am sure most of us would agree that we would rather trade for a vehicle with a customer story behind it than to purchase at auction. With more and more customers selling their own vehicles via ebay, craigslist, and other 3rd Party Providers, you must be ready to explain to them why trading with your dealership is better than selling it themselves.

OUTSIDE OF THE BOX IDEA: Grab your Flip-Cam! Try this if you have not already, maybe have some of your customers that trade-in there current vehicle and purchase there replacement vehicle not only do a Video Testimonial but also have them do a Walk-Around on the vehicle they traded in! This gives your new customers that are interested in this particular trade-in the absolute best source, the previous owner! Let your previous owners sell the vehicles value for you, it's well worth the try. We all know how powerful Video can be!

I would like to personally thank Sean Bradley and Andy Fedo on this subject, because by role playing and "synergizing"(not a real word I don't think but great for this website) with each other they were able to help me realize how important it is to really address concerns and expectations about the customers current vehicle rather than sole interest on there purchase request. Sean and Andy also helped me realize how important it will be to make a check-sheet for these leads and train, drill, and rehearse this with the Internet Sales Coordinators and the entire dealership.

All in all, have fun with your trade in leads; build relationship and value by learning more about their vehicle. My suggestions for great providers of these leads would be Autotrader.com Trade In Marketplace, BlackBook, or KBB. If I can offer any assistance to you or if you would like to throw some suggestions my way then please do not hesitate to contact me.

Good Selling

Durran Cage

Internet Sales Director

Gary Mathews of Jackson