Business
Dealer Demand to Connect More Efficiently with Digitally-Driven Shoppers Fuels Success of CarGurus Digital Retail Solution
One year after launch, Digital Deal is one of CarGurus’ fastest-growing innovations, supporting dealer goals for sales velocity and improved customer
About this update from Cargurus, Inc.
[{"type":"text","content":"One year after launch, Digital Deal is one of CarGurus’ fastest-growing innovations, supporting dealer goals for sales velocity and improved customer satisfaction by delivering leads that are up to 5.3x more likely to close(1)\nCAMBRIDGE, Mass., June 15, 2023 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles2, marked a milestone year in collaboration with over 2,250 dealer partners3 who fueled the success of its Digital Deal solution as one of the company’s fastest-growing offerings. Launched last year, the digital retail innovation responds to dealers’ desire to meet the needs of today’s shoppers with greater efficiency, delivering leads that are up to 5.3x more likely to close1 at 2x higher customer satisfaction rates4. The growing appetite for digital retail options centers on demand for more convenience and control – with CarGurus consumer research showing that 70% of car buyers would prefer to handle more of the car-buying process online. To help dealers enhance their omnichannel strategies to best meet customer needs, CarGurus is focused on providing digital retail solutions that will allow dealers to customize best-fit options for their existing tools, processes, and business goals. Digital Deal is part of that strategy, providing dealers with higher converting leads for faster, more efficient sales. The solution integrates with existing dealer platforms to unlock access to a broader base of high-intent online shoppers – both locally and outside of their immediate market – while still anchoring those customers to a dealership’s existing Finance and Insurance (F&I) products and lenders. “Digital Deal makes it easier for a customer to identify exactly what they are looking for by doing all the shopping online, which results in a low funnel lead for the dealership with shoppers who are significantly more likely to convert,” said Trent Warwick, Marketing Manager for Bud Cross Ford in Texas. “Many of our customers have expressed appreciation for the time-saving steps online. This ultimately helps with retention - when our customers have a pleasant and fast experience, they are highly likely to return to our location in the future.” For consumers, Digital Deal provides the flexibility to customize their car shopping experience and c...