Online car marketplace Auto Trader has launched Retailer Performance Masterclasses (RPM), an online learning hub for motor retailers.
Built and designed with retailer schedules in mind, the hub features tutorial videos lasting approximately five minutes in length which guide retailers through the latest Auto Trader insights. Auto Trader customers will have access to the hub for free.
Retailers are able to access the platform through their Portal accounts, navigating modules in their own time. Upon completion they’ll receive an RPM certification to confirm they are up to date on how to get the best from their online presence with Auto Trader, and how to utilise its solutions to capitalise on the opportunities within today’s new and used car market.
RPM will form a key element of Auto Trader’s existing retailer education programme, including its regular customer webinars and regional masterclasses which, prior to being suspended due to Covid-19 restrictions, were shown to drive an additional average £24,000 of profit per year for attending retailers.
RPM has launched with an initial six modules, but a new module will be introduced onto the platform every month. This will include specialist modules, such as bespoke content for bike, commercial vehicle and leisure retailers.
The initial modules are:
- Setting a used car strategy: How to set a business up for success and the key metrics retailers should observe.
- Sourcing the right stock: How to identify the most profitable stock and to determine what to pay for it.
- Dynamic pricing to a live market: How to use data to price position stock correctly from day one and how to adapt to changing market prices.
- Perfecting vehicle advertising: The core tenets of marketing best practice, including how to use imagery and video in the most effective way.
- Effective enquiry management: Research from Auto Trader’s mystery shopping programme revealing the most effective way to manage leads.
- Maximising your new car opportunity: A dedicated module for franchise retailers focusing on Auto Trader’s New Car solution, highlighting how to make sure their new car stock is seen by millions of new car buyers each month.
Commenting on RPM, Chris Penny, Auto Trader’s Franchise Brand Director, said: “We have always been committed to making sure our retailer partners are getting the best out of their Auto Trader packages, and since the pandemic hit we’ve been doubly focused on supporting the industry navigate this difficult time. Today, it’s never been more vital that businesses are adapting to the evolving landscape, and not only nailing the basics, but taking the extra steps required to meet the fast-changing consumer expectations. It’s with that objective firmly in mind we designed RPM.
“The insights we shared during our regional masterclasses helped attendees sell an average of three additional cars a month, and three days faster, resulting in an increase of over £24,000 in annual profit. RPM will build on this success, and we have every confidence will help our customers introduce even greater efficiencies across their businesses.”
Last month, Nathan Coe, chief executive of Auto Trader, said there are reasons to be positive ahead of the next phase of lockdown.
“Since the emergence of Covid, we have been monitoring the market and consumer buying behaviour, sharing key insights along the way to support and guide our customers,” said Coe. “We’ve seen record audience levels over the summer, traffic was up 30% in August on the same period in 2019, signalling strong purchase intent.
“If we look at audience levels for the past seven days, visits are on average up 25%, and very encouragingly they were also up by 23% on Monday (the day of the scientific announcement). This suggests that consumers won’t react to new restrictions in the same way as they did earlier in the year and that demand will remain robust.