New algorithm to increase leads by 10%

New algorithms have been developed to provide automotive retailers with up to 10% more leads.

Auto Trader has developed the algorithm for its search rankings to prioritise results based on consumer relevance and price. In testing, it delivered 10% more leads and more dealership map views, location clicks and website clicks.

The rankings will by default show the adverts that are more relevant to consumer search criteria and are of a better quality. Utilising Auto Trader’s data science capability, the quality of the advert is determined by analysing an unparalleled depth of consumer insight: 4,500 searches conducted every minute on the marketplace by its 49.1m monthly visitors. This sophisticated machine learning connects individual consumers to vehicles they may be interested in purchasing.

Retailers will win by concentrating on providing the best customer experience, stocking the right vehicles for their forecourt, and crucially, pricing them at the right price. Retailers that price to market are consistently generating more gross profit; the fastest selling vehicles on Auto Trader are priced at 99%-100% of the current specification adjusted market value.

Commenting on the update, Karolina Edwards-Smajda, director of commercial products, said, ‘All of our research shows that retailers that price to market from day one enjoy a faster speed of sale, which means they’re selling more cars, more quickly, and for more profit. We’re committed to making the car buying experience easier for consumers, and in the process providing our customers with the very best marketplace to sell their cars. By showing relevant results and useful information upfront to car buyers, we’re delivering retailers with more meaningful connections earlier in the process, and fewer questions from less informed consumers.’