Tootle, a new online sales platform, has launched today to simplify the part exchange process for retailers and customers, streamlining the sales process and helping to improve the customer experience. Tootle, which is part of the CitNOW Group, uses independent valuation data from industry experts cap hpi to help build customer trust in a potential transaction.
- New online platform makes the part exchange process simple and easy to manage
- Uses cap hpi data to maximise accuracy and boost consumer confidence
- 76% of retailers think customers overvaluing their existing vehicle is the biggest challenge in the part exchange process; Tootle helps manage customer expectations and removes awkward part exchange conversations
- Customers can request online part exchange vehicle valuations directly via Tootle or the link integrated on their CitNOW Sales video presentation page
To process a part exchange vehicle valuation, the dealer shares its branded Tootle platform link with the customer via its website, an email, SMS or through its CitNOW Sales video presentation page. The customer then submits their vehicle details, adds their desired exchange value and creates a Tootle account, which allows them to easily manage their part exchange process.
According to a recent CitNOW Group survey, 76% of retailers think customers overvaluing their existing vehicle is the biggest challenge in the part exchange process. With Tootle, the customer is automatically alerted if their preferred part exchange value exceeds the cap hpi estimate, helping to set expectations and avoid difficult conversations later in the sales journey. While working with pilot site Trust Ford, it was found that the customer’s anticipated value was moved to within 6.5% of cap clean with the introduction of Tootle – around a 15% improvement on average expectations.
To further increase transparency and accuracy, the customer is also invited to upload images and videos, and use a simple panel grader to identify any damage. This enables the retailer to visually assess the condition of the car without seeing it in person before making a valuation.
Following the Tootle test pilot, Nick Bolton, Head of Business at Trustford Wilmslow said, “Tootle has been extremely helpful both during lockdown and coming out the other side. It’s given us the ability to provide a more accurate appraisal and price to the customer, along with the process being more engaging for them. The platform’s dashboard also provides a central location for the customer’s information to be logged, meaning that all of our sales staff can see exactly what our customers want. Tootle is simple to use for both dealers and customers and it has certainly helped us to convert sales remotely. I would definitely recommend Tootle to all our sites as an extremely valuable tool in the digital world of selling cars.”
The easy-to-use, dealer-branded Tootle dashboard allows retailers to view valuation requests, check a valuation status, add customer notes and make an offer, based on their own appraisal of the car and guided by up-to-date valuation data.
“Tootle has been developed to help retailers overcome a common challenge and put them firmly in control of the part exchange process,” commented Alistair Horsburgh, CEO at CitNOW. “We often hear from retailers that customers aren’t transparent when reporting the condition of their current vehicle, with many often overestimating trade-in values. As well as increasing the risk of retailers providing an incorrect initial valuation, this can lead to an awkward conversation on the forecourt when the customer arrives in a vehicle that has more wear and tear than expected. Sometimes, that alone can put a stop to a deal.”
Horsburgh added: “CitNOW’s recent survey found that more than half (55%) of car buyers would be willing to travel further to a dealership if they received a personalised video, and now that interaction can instigate an even more streamlined sales journey. Tootle allows the customer to continue their digital journey directly from their video presentation page, right through to arranging a part exchange valuation and beyond. It also helps retailers make informed valuations more rapidly, reducing the risk of unfulfilled expectations or lost revenue.”
With the demand for used cars booming, retailers have the added possibility of using Tootle to grow their used vehicle stock inventory, by sharing the link with customers when used car stock is low. Tootle also simplifies the Group buyer’s life as they can easily see new used cars in stock via the one platform.
Commenting on the new integration, Wendy Swaine, Head of Sales at cap hpi said, “As trusted partners at every stage of the vehicle lifecycle, we are committed to helping retailers provide transparent and accurate valuations for customers looking to part exchange. Tootle is a fantastic, easy-to-use tool that helps make the vehicle purchase process easier for both retailers and customers. Our independent verification solution helps retailers set customer expectations from the very start of the part exchange process, ultimately helping to keep CSI scores high and improving the likelihood of a sale.”
Tootle became part of the CitNOW Group in 2019. After extensive product development, the solution has been launched to answer a real retailer challenge and help them take back control of the part exchange process. Part exchanges are made easy with Tootle.
For more information on Tootle go to www.tootle.co.uk