Cox Enterprises Inc.
Jan 25, 2017
ATLANTA, Jan. 25, 2017 /PRNewswire/ -- Autotrader, Kelley Blue Book and Dealer.com – three pioneers in their own right – have purposefully come together to create the most powerful and complete shopper experience that helps drive more deals for its clients. The digital marketing solution provided by Cox Automotive™ is designed to help automakers and dealers reach more in-market shoppers and engage them at every stage of the car buying process. According to Dealer.com Pixall data, dealers using all three brands convert eight times more online activity than those using dealer sites alone, and Power of Three provides an all-in-one solution to help dealers reap those benefits.
As more shoppers rely on the internet to self-direct the buying process, dealers and automakers must maintain a consistent online presence at every touch point in order to drive engagement and sales. Power of Three helps realize this goal by providing unified access to the industry's most visited consumer shopping site, most trusted vehicle research site, and most widely used dealer digital marketing platform. Cox Automotive's 2017 Car Buyer Journey Study indicates that 87 percent of shoppers interact with Autotrader, Kelley Blue Book's KBB.com or a dealer website before purchasing. Users can leverage this reach to make more targeted connections with in-market shoppers, improving the buying experience and increasing conversion.
"Today's consumers have high expectations for the car-buying process, which makes delivering a high-quality online experience key," said Brian Geitner, president of Cox Automotive Media Solutions. "With consumers using so many different shopping methods and information sources today, creating targeted and consistent messaging can be a challenge. We designed Power of Three to help the automotive industry get better results online because dealers don't just need better classifieds sites or better dealer websites, they need total connectivity of platforms."
To make Power of Three even more valuable for dealers and automakers, Cox Automotive has added new enhancements to several features of the brand's engagement platforms. Autotrader's new Connections App analyzes online listings' web activity to identify units with the greatest walk-in potential. Dealer.com's Audience Targeting reaches Autotrader and KBB.com shoppers and directs them back to dealer websites using Dealer.com's industry leading machine learning and real-time bidding automation. Additionally, the Kelley Blue Book Instant Cash Offer features new customization, more integrations and a license plate validation feature, which have helped increase the tool's offer volume by 19 percent when comparing offers made from January to October of 2016 to those made from January to October of 2015.
To learn more about the benefits of Power of Three, visit Autotrader, Kelley Blue Book and Dealer.com at the 2017 NADA Convention and Expo, booth #1315.
Autotrader is the most visited third-party car shopping site, with the most engaged audience of in-market shoppers. As the foremost authority on automotive consumer insights and expert in online and mobile marketing, Autotrader makes the car shopping experience easy and fun for today's empowered consumer looking to find or sell the perfect new, used or certified pre-owned car. Using technology, shopper insights and local market guidance, Autotrader's comprehensive marketing solutions guide dealers to personalized digital marketing strategies that grow brand, drive traffic and connect the online and in-store shopping experience.
Autotrader is a Cox Automotive™ brand. Cox Automotive is a subsidiary of Cox Enterprises. For more information, please visit http://press.autotrader.com.
Dealer.com provides an integrated platform of Advertising, Website and Managed Services products which allow OEMs, dealer groups, retailers and agencies to leverage advanced digital technology and data to better engage and connect with their customers. The company practices a deep commitment to its culture of innovation, with a focus on health and wellness, making it one of the most desirable places to work, and a valuable partner for automotive retailers. Based in Burlington, Vermont, Dealer.com is a Cox Automotive brand. For more information, visit www.dealer.com.
About Kelley Blue Book (https://www.kbb.com/)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Fair Purchase Price, which reports what others are paying for new and used cars this week. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book's KBB.com ranked highest in its category for brand equity by the 2016 Harris Poll EquiTrend® study and has been named Online Auto Shopping Brand of the Year for five consecutive years. Kelley Blue Book Co., Inc. is a Cox Automotive brand.
About Cox Automotive
Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, software, financial, wholesale and e-commerce solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, vAuto®, Xtime® and a host of other brands. The global company has 33,000 team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues of $18 billion and approximately 60,000 employees. Cox Enterprises' other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.
For further information: Lisa Aloisio, (404) 725-0651, Lisa.Aloisio@coxautoinc.com