Friday, April 20, 2018

Are You Using Market Insights?

According to Hubspot, half of shoppers spend at least 75% of their total shopping time conducting online research. So, if you’re customers are doing their research, shouldn’t you be doing yours? As you know, TraderTraxx is packed with a variety of helpful tools designed to enhance your business. We’ve touched on the the Price Analysis Tool, but another feature of TraderTraxx that can help on the research front is Market Insights.

Market Insights is a series of three reports that were each created with your business in mind. The reports in this suite makes research easy by allowing you to understand supply and demand in your local market as well as nationwide, and also lets you check in on what units are piquing consumer interest. Within each report you have access to view the top model years for each unit and how many are available on, meaning you don’t have to conduct a manual search - we’re all about saving you valuable time. You also have the option to customize the report to see what’s relevant to you with filters including:
  • New and used 
  • Make, model, and trim 
  • Cycle, ATV, PWC, and Snowmobile 
As we mentioned, Market Insights is made up of three separate reports - each giving you a detailed 30-day snapshot. Let’s break each of them down for you:
  • Market Interest: Focuses on ranking inventory by listing pageviews 
  • Market Connections: Highlights the number of connections generated by each unit 
  • Market Activity: Shows what other interactions a consumer has had with a particular unit - including printing the listing, sending it to a friend, or viewing a video 
Market Insights can help you strategically plan your inventory, and give you a first-hand look at what units consumers are really looking for in their next unit. We are all about getting you ahead of the competition and the tools in TraderTraxx are designed for just that reason - and the best part is they’re only a few clicks away.

If you need help navigating TraderTraxx and any of its tools, feel free to contact your Cycle Trader representative at 888.747.1192.
Trader Online Web Developer

Wednesday, April 4, 2018

Making the Most of the Price Analysis Tool

One topic we see come up time and time again in the cycle industry is price. It’s without a doubt one of the top driving factors for buyers. In fact, when asked what is most important when searching - 28% of buyers confirmed it was price. As a dealer, it’s important to know how your pricing stacks up to the competition - and that’s not always easy. But lucky for you, as a Cycle Trader customer you have access to our Price Analysis Tool in the TraderTraxx platform. So, what exactly does the Price Analysis Tool actually do and why should you bother checking it out? We’ve broken down the nuts and bolts of this tool to show you how it can help your business thrive in new ways.

The Price Analysis Tool represents the first time motorcycle and Powersports dealers just like you have access to real-time pricing insights and makes it super easy to:
  • Determine if you are priced competitively as compared to similar inventory in the market 
  • See the volume of competition in both your local market and nationwide 
  • Excel in your inventory management and purchasing strategies
We know how important it is to have competitive pricing, as it increases your chances of attracting buyers; which is why this tool has one-of-a-kind features that can help you pinpoint exactly what the median price is for a model listing of a specific make and year, without having to manually research and keep track of similar listings - saving you valuable time and energy.

The Price Analysis Tool makes it easy for you to see if you are pricing too high, too low, or somewhere in between. It automatically informs you of how many other listings are currently for sale of the same unit, helping to further position the price of your unit based on the current volume available in the market. When analyzing the price positioning, you also have the option to view by specific trim, or roll up to the main model - so you can get specific. You might be wondering, what if the bike I’m selling has upgrades and/or accessories? We’ve got that covered too. We provide an easy-to-access link so you can review other listings with those same features.

As you can see, the Price Analysis Tool provides a wealth of valuable statistics and insights exclusively available to our Cycle Trader dealers (at no extra cost to you). To take advantage of this tool, all you have to do is log in to TraderTraxx - it’s that simple. If you need help navigating TraderTraxx and any of its tools, feel free to contact your Cycle Trader representative at 888.747.1192 - they’d love to walk you through it.
Trader Online Web Developer