Cars2click was honored with the The Silicon Review 5 Best Automotive Companies to Watch bagde. Brian Madsen and Fredrik Glenning, owners of Cars2click, gave an interview to the magazine where they opened up about Cars2view, how GEOpricing and GEOmatch help to narrow down the most like buyers of each car, and unveiled about future launchs as Maria and Cars2transport.
You can read the full interview here: https://thesiliconreview.com/magazine/profile/cars2click-helps-dealers-manage-their-business-efficiently/
The expansion of the internet is making purchases easier for buyers. In the digital world, we are no longer limited to purchasing in brick-and-mortar stores or through a catalog. With a click of a few buttons, we can pretty much purchase anything from any retailer irrespective of place. In a B2B world, buyers know what they want to purchase, and their time is very limited due to various reasons. When B2B commerce is done right, it can provide the business time-saving functions to easily search and purchase exactly what they need in the least amount of time.
In the automobile industry, there are tons of ecommerce solution providers to ease the business operations, but one provider that stands out from the rest is Cars2click. The company is an international online car trading firm that only sells cars to car dealers who are registered buyers on www.cars2click.com. Cars2click helps its car dealer partners find the fast-selling cars and sell their slow-moving cars. Dealers can now partner with Cars2click and receive support creating the best used car strategy. The company also offers various IT solutions for used car inventory management, such as car lead time monitoring, used car photo editing app with background editor, used car trade in-app, and online trade-in pricing.
Cars2click was founded in 2019, and it is based in Stockholm.
In conversation with Brian Madsen and Fredrik Glenning, Owners of Cars2click
Q. Tell us in brief about your inventory management.
Cars2view is a game-changer for car dealers. Making the best of DATA Cars2view and our AI is monitoring the dealer’s inventory and helping the dealers keeping track of the market and the competitors. We created this to help car dealers, and Cars2view is a digital solution using AI and data to analyze market prices and show if a car is fast or slow-moving. Imagine you are a car dealer and you arrive at the office, and your assistant is greeting you with your morning coffee and a list of things you need to take a look at – these five cars are online, but without photos, your competitors changed prices on these ten cars, so you need to decide what to do, these 12 cars have been online 45 days but not sold so you should sell them B2B, these six cars are slow-moving and priced over 100% of the market average, these five cars are fast-moving cars but prices too low and so on helping you and saving you time from checking websites.
On top of this, we created tools for car buyers to make the right decisions like GEOpricing. This solution is the game-changer for the automotive industry and allows traders and car dealers to find and buy the right cars for their market, and this is one of the main factors for Cars2click’s success.
GEOpricing: Knowing the B2B prices based on retail and local tax calculation is a game-changer for international car traders. When a seller wants to sell cars through Cars2click, a structured process begins:
Analyzing the car prices and sales factor per country and identifying which countries offer the best-selling prices and the best demand factor and even taking transport costs and the different VAT systems per country into account. We see sales history, how many similar cars sold average price and average km. Important KPIs, like sales factor and a B2B business case calculation, is the way to calculate and find the best selling price per country.
Q. Tell us about your lead generation system. Do you create personalized content to increase traffic and sales?
We call our lead generation model ‘Retail Driven Remarketing.’ It is when we match demand with supply. This is when we are not promoting cars to a lot of car dealers or trying to activate a lot of potential buyers. We use GEOpricing and GEOmatch to help us narrow down the most like buyers of each car, and this is our internal system, which is based on our data and AI. When we get cars to sell, GEOpricing is analyzing the market and showing us which country has a high sales factor and offers the highest B2B prices ex VAT > VAT and TAX are different per country, so this AI is a major game-changer. When we know which country a car has high demand and good B2B prices GEOmatch steps in and present the most likely buyers (we have mapped all car dealers in EU knowing which cars they sell and how many they can buy per month)
Q. GEOmatch: All our car dealers have a profile and this system is our costumer’s profile system which identifies the most likely buyers per country. Promotion and sales activities are proactive, and sales are arranged in hours not days. Digital matching of supply and demand is a game-changer and together with trading neither buyer nor seller needs to wait days like with auctions.
Maria is our AI and Maria will send offers directly to the car dealers/partners which are the most likely buyers and who need these specific cars - today this is in test mode, so we are still building the plane as we fly
Q. How do you source the right talents to maintain the quality of your service?
We are lucky, having worked in this business for many years we have a great network and reputation, so we could start and expand the company fast by signing the best traders in the market. We know that our employees are the base of building a strong network and maintaining the trust and quality. We hire experienced people with a good and strong network within the automotive business. We give them insight into our strategy and tactics, creating a strong team spirit and believe in our right to exist as a company.
As you know, success attracts people, and we are contacted daily, so expanding is not a problem for us, and soon we are moving and establishing Cars2click outside of the EU. In September 2020, we will increase the sales organization with almost 50% pushing our flywheel to more speed. We are already moving to larger offices in both Sweden and Portugal to prepare for the next push.
Q. Do you have any new services launching soon?
We are getting ready for the next swing of the flywheel, and more people and more AI will move us forward very fast. Cars2view is our next development, which will be rolled out in EU during 2020/2021 and this will change the way car dealers work with used cars and making them B2C and B2B players all at the same time with Cars2click as the facilitator and manager of their B2B business while they focus on B2C. Cars2transport is under development, and during Q3 2020 we will launch a new online booking and tracking system for all our international car transports. Leadtime is the key for planning and being the best and fastest at transporting cars is an important part of our business model and important for our buyers. We only just started, and we are far from utilizing all our opportunities, so we still have a lot to do. We still have a lot of growth opportunities in each of the EU countries, and we will continue to increase our network as fast as we can. Outside Europe, we are already in contact with several interesting partners who want to join Cars2click and be part of our journey.
Source: The Silicon Review Magazine