John Hensman, VP, and GM of HomeNet Automotive, a company that provides inventory merchandising and vehicle distribution solutions to auto dealers, joins CBT News to talk to us about HomeNet’s rebranding. HomeNet’s new look focuses more on digital retailing and through this, helping their dealers turn shoppers into buyers.
Founded in 1999 and later acquired by Autotrader Group in 2010, HomeNet has 8 million unique cars that they process every day. They host millions of photos on their infrastructure in order to connect thousands of dealers to marketing departments and has led them to become one of the primary ways in which dealers can get their listings online. Now, after completing several key dealer and consumer research projects, HomeNet has confirmed an opportunity to re-invest in their core merchandising capabilities. John points out some areas in the industry that seem to have been ignored, and HomeNet is hoping to fill them.
John says that they have seen areas that have been ignored by software solutions and see areas where dealers are currently being underserved. With customers more educated than ever and 88% of automotive shoppers starting their research online, HomeNet is aiming to improve their digital retailing in order to help dealers increase their margin and reduce their days to sale. John says in order for dealers to be successful and reach mass market with digital retailing and e-commerce it is becoming increasingly important for them to showcase their vehicles online in a content-rich manor. They need to utilize the listings to build trust and transparency and foster higher-level engagement to help move shoppers into buyers.