DealerSocket announced that it is launching a new integration between the company’s Precise Price digital retailing solution and F&I Express’ network of approximately 160 F&I product providers.
Precise Price, initially developed to address the strong interest among consumers to transact online from any mobile device, marked DealerSocket’s entrance into the burgeoning digital retail category. It was the first digital retailing platform to come equipped with integrated desking software, allowing for the delivery of dynamic price quotes with rebates, incentives, and all applicable taxes and fees factored into deal calculations.
“DealerSocket’s Precise Price integration with F&I Express’ Digital Media solution helps dealers and their customers have a better experience during the digital retail process,” said Brad Perry, co-founder and chief product officer of DealerSocket. “Utilizing the integration within Precise Price leads to happy customers that convert and buy more backend protection packages. Our initial pilot found that dealers who used the integration saw a nearly 20 per cent increase in backend gross.”
Now, through Precise Price’s integration with F&I Express’ Digital Media solution, the platform is able to display VIN-specific, state-specific, and dealer-specific F&I product rates and dynamic content.
“Trends reveal that car buyers are becoming more partial to an online retail experience. In fact, research shows 71 per cent of consumers prefer to get online information about their entire deal, including aftermarket add-ons,” said Gary Peek, vice-president and general manager, F&I Express. “By giving customers more transparency and authority over the course of their deal, Express Digital Media can help dealerships reach consumers earlier in their car buying journey. This can improve customer satisfaction and for revenue through more F&I sales.”