Dealers can now monitor online consumer interactions with vehicles in real time, thanks to a new tool introduced by iVendi.
This tool, named Real Time Analytics, allows motor retailers to track how often a car, van, or motorcycle is viewed online, along with the number of finance quotes, checks, and applications generated.
It also displays how long a vehicle has been in stock. These metrics update instantly on the screen, providing a dynamic overview of each vehicle‘s online activity, as well as comprehensive reports on interactions over time.
James Tew, CEO of iVendi, explained: “We see this as a way to bring some of the transparency from the physical showroom into the digital space. Just as a salesperson can gauge interest in vehicles on a forecourt by observing foot traffic, Real Time Analytics offers a similar level of insight online.”
The tool’s data can be used in various ways. For example, if a particular vehicle is getting a lot of clicks, dealers might consider increasing their stock of that model.
Conversely, if a vehicle is struggling to attract interest, adjustments like pricing changes, improved images, or different finance offers might be necessary.
“Typically, dealers rely on the number of days in stock to measure a vehicle’s retail success, but this approach often means waiting until a vehicle hasn’t sold,” said Tew. “With Real Time Analytics, dealers can identify potential issues much earlier, even within the first week or two of online activity, providing an early warning system.”
iVendi also plans to enhance the tool further, aiming to provide even deeper insights using real-time data. “This is a priority product for us because we believe it’s unique in the market,” Tew said. “Eventually, we aim to integrate buyer data, like that from our Digital Deal tool, to link customers directly to vehicles in real time, delivering this information to the dealer.”
Real Time Analytics is available at no extra cost to users of iVendi’s Convert product, which is designed to keep potential vehicle buyers engaged on dealer websites longer by helping them move further down the sales funnel—from casual browsing to becoming qualified leads.
