Web Video Cuts The Time Taken To Sell A Car By Two Weeks
By Maddy Price
Wednesday, October 12, 2016 - 16:58
Using video technology to showcase cars in stock has helped Volkswagen retailers across the UK cut two weeks off the amount of time those cars spend on the forecourt.
Analysis by CitNOW, the leading provider of video tech to the automotive industry, studied the length of time cars spent in stock at 120 Volkswagen retailers nationwide.
Over the course of four months*, just under half of the cars on sale** were supported by a video on the retailer’s website, created using CitNOW’s Web application.
Those which had a video spent an average of 32 days in stock before being purchased, while those without a video spent 46 days in stock – two full weeks longer.
CitNOW Web allows sales personnel at a retailer to upload a walk-round video and photos of any car in their used stock. The intuitive CitNOW system is quick and easy to use, with vehicle recognition software matching the car being filmed with the dealer’s own database.
The resulting video sits on the retailer’s website, where customers can watch it and request a more personalised version directly to the sales executive’s mobile device.
CitNOW Web has been proven to increase one Volkswagen retailer’s used car sales from 60-70 units a month to 90-100.
Joe Wilkinson, Digital Experience Manager at Volkswagen UK commented : “Videos of used cars on our website are a really engaging way for customers to see the product transparently. And thanks to this increased reassurance and desirability we know that the cars with videos sell more quickly than those without and that’s vital.”
CitNOW’s UK Managing Director Alistair Jeff, added: “Well over half of all consumer internet traffic is video – more than ever before, consumers of all products want video before making the decision to buy. Moreover, customers are 64% more likely to buy after watching a video.***
“That’s why those retailers that are using video to showcase their stock are shifting that stock faster, maximising the turnover of the cars on their forecourt and increasing revenue.”