Perhaps you’ve heard by now that CarWoo! has entered into a partnership agreement with AOL Autos. It’s been covered by TechCrunch, AOL Blog, Driving Sales, Auto Remarketing, Dealer Magazine, F&I Magazine, NADA Headlines … along with CNBC, Yahoo! Finance, Reuters, MarketWatch, BusinessWeek, TheStreet.com, Business Wire, NASDAQ, World News, and more. (Click here for Frequently Asked Questions about this partnership.)
So what’s the fuss all about? If you’re reading this on our blog, then you probably know who CarWoo! is. But just in case:
“CarWoo! is an online platform for automotive buyers and sellers. In the CarWoo! MarketPlace, consumers can select the type of car they are interested in, find and communicate anonymously with dealers, compare offers, and ultimately make a confident purchase decision. Dealers have the opportunity to receive never before available competitive intelligence and insight into the behavior of the online buyer.”
And perhaps you’ve heard of AOL, one of the godfathers of the Internet. Their automotive section alone receives around 10 million monthly unique visitors.
This partnership deal is about bringing all that’s awesome about CarWoo! – the anonymity, the transparent MarketPlace, the mobile app, the network of 10,000+ dealers, the competitive market-driven prices, the dealer ratings, and much more! – to AOL Autos’ massive user base. And 10 million monthly unique visitors IS a massive user base.
Why did AOL Autos choose to work with CarWoo!? In their own words:
“Like AOL Autos, CarWoo! has the same philosophy of putting the customer’s experience first. This new partnership will allow consumers to shop for cars online, anonymously communicate with top-rated dealers to find the perfect car, and negotiate a great price – it’s a different and better way to shop for cars,” said Chris Eschenburg, Vice President and General Manager, AOL Autos. “AOL Autos is the market leader in online auto shopping, and we only want the best solutions for our community.”
And why did we want to work with AOL Autos? Well, their research experience is truly best-in-class, as they provide a plethora of original and unique content from industry experts. They offer simple and effective shopping tools for new and used vehicles and expert advice for vehicle ownership and repairs … And they’ve always been an innovator in the space, so there’s a great cultural fit for us to work together. Our fearless leader elaborates:
“AOL Autos is respected for providing a great suite of resources to consumers as they shop for one of the biggest purchases they will ever make – their car,” said Tommy McClung, CarWoo! CEO. “We know that CarWoo!’s service of helping people get the right car in the easiest, most efficient way is the right complement to the value AOL provides community members.”
Should dealers be happy about this partnership? Why yes! The partnership was carefully structured so that all of our needs for high quality traffic are aligned. AOL Autos has no incentive to just push volume; they have every incentive to push quality. Quality is very important to us, and we are committed to delivering quality traffic to our dealers.
Why else is CarWoo! great for dealers?
We cut the cost of selling a car by 44% (according to NADA 2012 stats on the cost of selling a car). We reduce car sales costs from $1,328 (according to NADA) to $724 based on data from our dealers.
Not only do we cut the advertising cost by half, but we also reduce the time to sell a car by 80%. This means more cars sold per dealer with less effort.
We’re also great for dealers because we let the dealers sell their way. Dealers place offers only on actual inventory, and each offer is specifically suited to the exact situation. Dealers have complete control over how (and whether) they participate in every situation, and our program rewards good customer service over low prices. The low price only wins about 30% of the time in the CarWoo! MarketPlace. Professionalism, courtesy, responsive and goodness of fit determine the winning offer.
So this partnership is a win-win-win-win! It’s great for AOL Autos, it’s great for CarWoo!, it’s great for buyers, and it’s great for dealers!
Have more questions about this partnership? Click here for Frequently Asked Questions.
Psssttt … Did you know? Dealer Plus dealers sell the most cars on CarWoo! Click here to learn more.
Note: Phil Yeh is CarWoo!’s VP of Marketing.