(Webinar) Horizontal Marketplaces help auto dealers reach new car shoppers in this post pandemic economy

At Digital Dealer's Conference & Expo, OfferUp shared the ins and outs of how to fully leverage horizontal marketplaces such as OfferUp, Facebook Marketplace, and Craigslist to grow your dealership’s business for years to come.

Horizontal Marketplaces are the new Automotive Gold Rush as they present the perfect opportunity to reach the modern car shopper where they spend 38% of their waking hours, their mobile device. American adults sleep nine hours on average and spend 5.4 hours per day on their smartphones, 86% of Americans go online daily using their mobile device.

Automotive dealers have exactly three opportunities to reach mobile users on a horizontal marketplace: FBMP, OfferUp, and Craigslist. Two of these have kept up with the technological revolution over the past year, one offers email correspondence as the only medium for consumers to communicate.

Easy communication with your buyers means more opportunity and less time wasted on car shoppers who, frankly, were never in-market. These streamlined sale opportunities represent the obvious proverbial ‘Gold’ in our analogy above, but what about the other ‘precious metals?’ The horizontal marketplace offers another unique opportunity that cannot be overstated in its value with current market conditions of inventory shortage. Millions of mobile users buy cars via a horizontal marketplace each year, but they are selling 2x as many vehicles on that same marketplace.

With a little education, dealers can use horizontal marketplaces to find quality buyers and fresh inventory; the dual-use being exactly what these marketplaces were made for. Watch now and learn how to take advantage of these ready-made marketplaces to help you sell more cars by reaching more buyers where they are already shopping.