KBB Enhances Instant Cash Offer Tool

By Staff Writer October 22, 2021

Kelley Blue Book Instant Cash Offer, an online inventory acquisition solution, has upgraded its consumer matching process with additional filters to help dealerships face inventory challenges. The latest Instant Cash Offer enhancements leverage data and insights across the Cox Automotive ecosystem to route prospective customers more precisely, enriching offer quality for dealerships looking to acquire more of the cars they need for their lots to maximize profits while continuing to improve the Instant Cash Offer experience for consumers with a redeemable cash offer that allows customers ready to sell their vehicle to drive away with confidence.

“The enhancements we’ve delivered in consumer matching, coupled with our recent product innovations are all designed to improve the consumer experience, provide an even more targeted approach to consumer offers, and help dealers make the most of every acquisition opportunity,” said Randy Kobat, vice president of operations for inventory management solutions at Cox Automotive. “These enhancements are also helping drive higher transaction rates for Instant Cash Offer dealerships, so they can acquire more cars.”

The latest product innovations streamline the process in three ways:

  • It has shortened the physical distance between dealerships and interested prospects by 30%, providing a competitive advantage over other dealerships and delivering a more convenient process for consumers.
  • Advanced replacement vehicle matching not only pairs dealerships with consumers that have the vehicles dealerships want but also with those shopping for vehicles the dealerships already have, increasing the Kelley Blue Book Instant Cash Offer transaction rate by 21%.
  • Additional consumer insights from across Cox Automotive data sources let dealers know which consumers are ready to transact to increase operational efficiency when acquiring the vehicles needed most. Kelley Blue Book Instant Cash Offers with Buying Signals have a transaction completion rate 19% better than those without Buying Signals, while consumers using Kelley Blue Book Appointment Requests are twice as likely to transact at an Instant Cash Offer dealership than those without an Appointment Request.
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Last modified on Thursday, 28 October 2021 18:46