What is it?
Detroit Trading Company and R.L. Polk & Co. have combined their core competencies
to deliver an efficent, transparent and buyer/seller friendly lead exchange integrated
with highly predictive lead scoring. This allows you to buy leads with the scores
you want at the right prices.
How it Works:
Polk Lead Scoring, based on automotive intelligence and advanced analytics, allows
a "score" to be placed on every lead predicting how likely the lead is
to purchase a vehicle within the next 45 days. The score is a ranking from 1 to
10, with a 10 being the most likely to purchase. The Polk Score, which has been
validated in the industry to truly predict likelihood to purchase, is currently
in use at a number of large dealer organizations, and is generating considerable
buzz in the marketplace.
Buyer Benefits
As a Buyer there are really two key benefits:
- Buy the 10's
- Pay what the lead is worth
An analysis of more than 2.5 million leads has clearly demonstrated that all leads
are not equal relative to which leads are most likely to close. In fact, a lead
scoring statistical model used to score a typical group of leads offered through
the Premier Lead Exchange will show significant differentiation — the leads scored
a "10" being five times as likely to close as the leads scored a "1".
Said another way, for each "10" that a dealer follows up with and closes,
that dealer would have to follow up with five "1's" just to make
a sale. Five times the labor for the same result. Dealers who are able to leverage
this kind of intelligence when it comes to purchasing leads will have a significant
advantage over their competitors.
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Close More Leads:
This chart represents the actual closing percentage of a sampling of 100,000 leads.
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In The News:
Auto Success Magazine
Every now and then, there is a change that really matters something
that comes along and radically impacts the way we live, work or play. The Premier
Lead Exchange is the something that is going to dramatically improve the way you
acquire Internet leads and increase the number of vehicles you sell. That broken
process we call the "Lead Marketplace" will never be the same. Dealers
obtain their leads from three primary sources — third-party lead providers, OEMs
and the dealer’s own Web site. The majority of purchased leads come from the third-party
lead providers and DTX is a registered trademark of Detroit Trading Company. Every
now and then, there is a change that really matters — something that comes along
and radically impacts the way we live, work or play. The Premier Lead Exchange is
the something that is going to dramatically improve the way you acquire Internet
leads and increase the number of vehicles you sell. That broken process we call
the "Lead Marketplace" will never be the same. Dealers obtain their leads
from three primary sources — third-party lead providers, OEMs and the dealer’s own
Web site. The majority of purchased leads come from the third-party lead providers
and some OEMs. The problem is that dealers purchase the leads as if every lead is
of the same quality, with the same likelihood to close — this simply is not the
case. The Premier Lead Exchange will enable dealers to buy the best leads in the
dealer’s market area, and pay a price based on the lead’s likelihood to close.
[ READ MORE ]
Ward's Dealer Business
Going Once, Going Twice…
By Cliff Banks
Two years ago, I moderated a panel of executives from several of the third-party
online lead vendors. The main topic was how to improve the current lead-buying model.
Of the panel, I wrote in an earlier column, "One thing is clear. All of the
panelists agree the process with which their sites move online car shoppers to the
dealers needs to evolve to the next level. And that means improving the quality
of leads dealers receive." I also quoted Cars.com President Mitch Golub as
saying, "It’s a 12-year old business model in which the price per lead has
not changed in eight years." [ READ MORE ]
Auto Remarketing
New Partnership Helps Dealers Capture Leads Most Likely to Result in Sales
By Jennifer Reed, Auto Group Editor
October 08, 2008
ROYAL OAK, Mich. — With showroom traffic dwindling for many dealers, compounded
by the challenge of getting the customers who do show up approved for loans, sales
are suffering across the board. However, two companies recently joined together
to help dealers bolster sales in such a difficult operating environment. The partnership
between Detroit Trading Co. and R.L. Polk & Co. is now helping dealers capture
strong buyer leads, which display the most chance of turning into sales. [ READ MORE ]