As we eagerly anticipate the possibilities that await us in 2024, let’s take a moment to reflect on the progress and accomplishments that Cycle Trader has achieved in the previous year. Come along for the ride as we dive into the noteworthy milestones that have powered the expansion of our dealer networks, including thrilling new product launches and growth opportunities for dealers. Keep scrolling to uncover the top five standout moments from the incredible year that was 2023.
1. Reached New Heights With Premium Select
In 2023, we introduced our latest and greatest ad enhancement – Premium Select. This game-changing tool gives you the ultimate edge in the competitive market by showcasing your units at the very top of search results, surpassing all standard and traditional Premium listings. Our marketplace has seen a remarkable boost in dealer success, thanks to the incredible impact of Premium Select. Premium Select ads have generated 20X more vehicle detail page views than standard ads and 4X more than traditional Premium ads. Experience the incredible results firsthand as dealers share their testimonials.
2. Rolled Out the Innovative Buy Now Platform
Last year, Cycle Trader introduced a groundbreaking digital retailing solution called Buy Now, allowing dealers to sell their units 100% online. With this solution, dealers gain access to a wide range of captivating tools that can engage our impressive 6.5 million average monthly visitors. Not only can you capture deposits and receive credit applications online, but you can also seal the deal entirely through our platform. And the most exciting aspect? We collaborated closely with a number of dealers, allowing us to continuously improve and streamline this groundbreaking solution.
3. Enhanced Cycle Trader’s Email Program with More Lead Follow-Ups
Email has emerged as the undeniable champion among communication methods for consumers, with our latest surveys from 2023 revealing that 43% of buyers prefer email to communicate with dealers. To help dealers capitalize on the trend, we introduced automated price drop emails. Plus, Email Lead Amplifier has undergone a significant upgrade, now capable of sending six automated follow-up emails to buyers who submit leads on units, an increase from the previous four emails, ultimately delivering even greater value to dealers.
4. Unmatched Brand Visibility on Cycle Trader
In 2023, Trader Interactive’s portfolio of brands, including Cycle Trader, achieved impressive results with over 160 individual press pickups, reaching an audience of over 1 Billion unique visitors per month. This incredible success had a positive impact on dealers advertising on Cycle Trader, as it drove a significant increase in traffic to our marketplaces, giving consumers the opportunity to explore the wide range of dealer inventory available on our site.
5. Unparalleled Leads and Connections
Dealers had a successful year of connecting with buyers on Cycle Trader, racking up an impressive average of 442k leads and connections every month. Our unwavering commitment to innovation, including enhancements to our sales platform TraderTraxx, armed dealers with lead generation tools, priceless sales insights, and crucial data to keep those leads flowing steady.
Cycle Trader has a lot more in store for 2024, with a wide range of exciting opportunities emerging for dealers to thrive on our marketplace. Stay in the loop about the newest dealer education and sales tools by checking out our blog.