As the automotive industry continues to go more digital, car shoppers want to do more online than ever before. Car shoppers also want easier and more convenient shopping to buying experiences as they browse for vehicles. Research shows us that:
· 66% of shoppers want to do more online compared to their past purchase.*
· 67% of consumers want to see payments when they shop.**
· 30%+ of consumers want to start their search with a budget.**
After carefully evaluating what consumers want, the need to create a tool that provided a more frictionless digital shopping experience for them and the dealers was crucial.
Introducing Kelley Blue Book® My Wallet, an intuitive, personalized shopper tool designed to improve the shopping to buying journey and drive more quality connections between buyers and sellers.
How It Works
If a car shopper engages with Kelley Blue Book My Wallet on Autotrader, they’ll be prompted to enter a desired monthly payment, trade-in, down payment, credit range and term length. This gives consumers the most accurate “all-in” pricing in the industry.
From there, their entire search will be customized. Consumers gain budget guidance to help them better understand purchase power and can shop by payment which opens a whole new world of possibility.
My Wallet assists the consumer by:
· Enabling them to bring over his or her research and valuation activity from Kelley Blue Book
· Allowing them to shop with a realistic budget based on his or her credit range and overall buying power
· Showing more personalized payments across listings
· Providing more detailed pricing with taxes and fees and lending options
· Offering full financing through integration with Cox Automotive digital retailing, and allows them to take additional steps with digital retailing including test drive or home delivery
With My Wallet, everyone wins. Consumers get access to personalized payments as they browse, select, then move towards their purchase. Dealers get insights into the consumers financial profile to provide a more personalized sales process with less friction.
Kelley Blue Book® My Wallet + Accelerate My Deal
86% of shoppers are more likely to buy from a dealership that lets them complete a purchase online. And with Accelerate My Deal, consumers can complete even more steps online, speeding up the deal for everyone.
When shoppers enter their information into Kelley Blue Book® My Wallet it’s automatically transferred into the Accelerate My Deal experience. Accelerate My Deal leads on average close at a 48% higher close rate compared to other internet leads helping dealers get more highly qualified leads and boost their profits.***
My Wallet gives shoppers a personalized shopping journey and Accelerate My Deal moves the shopper from journey to purchase.
Kelley Blue Book® My Wallet Everywhere – Coming Soon to Dealer.com Websites
When My Wallet meets Dealer.com, consumers will have the most comprehensive and consistent power of Digital Retailing at their fingertips.
Launching at the NADA Show 2023, Kelley Blue Book® My Wallet will automatically integrate into Dealer.com dealer websites who have Accelerate My Deal. This means dealers will have access to everything from down payment, trade-in, and financing information – the data needed to speed up the deal-making process and get more accurate leads.
And launching after the NADA Show 2023, My Wallet will be offered to non-digital retailing clients and syndicated across 3rd party sites, giving full marketplace access to our exclusive lead-driving tool.
If you’ll be at NADA and want to learn more about Kelley Blue Book My Wallet launching on Dealer.com websites, schedule a demo today.
*2021 Car Buying Journey Study
**2021 Digitization of End-to-End Retail Study
***Cox Automotive Product Analytics. Accelerate My Deal Lead to Close Analysis using VinSolutions sales data. Data from Jan 2020-Nov 2020. Analysis performed January 2021
Read More: Discover the power of Kelley Blue Book® My Wallet