Motors.co.uk has moved away from its traditional subscription-based used car advertising model to a new value-based pricing structure, where dealers pay for the level of consumer engagement that its automotive network delivers.
Consumer engagement is measured in lead assists, which are defined as when consumers engage with a listed vehicle including via a detailed page view, a call or email to the dealer, viewing the dealer’s location on a map, visiting the dealer website, or sharing details of the vehicle.
Research from Motors.co.uk shows that on average it takes between 250 and 300 lead assists for an independent dealer to sell a car, with this number varying based on factors such as make, model, price, local demand and image quality.
The company said over 2,000 dealers had already transitioned to the new Motors.co.uk pricing model.
Phill Jones, managing director of Motors.co.uk said: “Our primary job at Motors.co.uk is to get dealers’ cars in front of in-market car buyers. Dealers should therefore have an invoice directly linked to the value delivered.
This approach gives dealers a performance target and certainty that Motors.co.uk is delivering on its promise. This is underlined through our investment in services, such as our vehicle response tracking platform The Eye, where dealers can monitor Lead Assists, listen to telephone calls and read emails generated by their advertising.
“We passionately believe that dealers should monitor their advertising return on investment and our Value Based Pricing makes this easy for dealers.”