Nashville, Tenn. — Dealerskins, a division of Dominion Enterprises and a provider of automotive dealer Web solutions, has partnered with DataOne Software to bring its iMarketAuto Pricing Intelligence tool to auto dealers.
Pricing Intelligence provides dealerships and dealership groups the ability to see if their vehicles are priced too high or too low relative to all competition within a 50-100 miles radius. It warns dealerships, through a daily e-mail, if any of their vehicles are poorly priced in several online markets. Dealers using the tool are able to gain invaluable insight into the prices consumers are viewing, determine how to price identical vehicles and thus enhance lead generation.
iMarketAuto Pricing Intelligence increases lead generator leads by providing a price rating for each vehicle, every 24 hours, based on real time Internet price scanning. The tool scans a dealership's entire inventory against virtually anywhere that a car is listed online and produces a snapshot report that details how each vehicle compares to the median price for identical vehicles within 50-100 miles of the dealership. The tool will be priced at $300/month and Dealerskins is rolling it out to its dealers with a free 30-day trial.
"Dealerskins' partnership with DataOne Software provides our dealers with an easy to use tool to help them sell more cars. With the sophistication of today's car shopper, competitive pricing information is vital. I've known dealers who spend many hours crawling around the Internet to ensure their inventory is priced correctly. Intelligent Pricing simplifies the entire process," said Tim Madel, general manager of Dealerskins.
Pricing Intelligence produces a report with a graph for each vehicle showing its price versus the competition, how many are in the market and how many are certified. It provides the top five competitor names with exact details on their listing including price, number of photos posted, mileage and trim level. The dealer can simply click to a details page and see what creates a difference in the price, such as optional equipment.
A new historical reporting feature also allows dealers to track performance and view reports for vehicles, including a 30-day history.
According to Jock Pereira, managing director at DataOne Software, the results of Pricing Intelligence can be surprising, "We find that many times smaller independent dealers that would never have otherwise been considered competition, are copying the behavior of the larger dealers and pricing their inventory say $200 lower, so it is showing up first on AutoTrader.com. Understanding what consumers are viewing is invaluable if a dealer wants to stay competitive in today's market."