New online learning hub designed to help retailers succeed in changing retail landscape
As part of its ongoing commitment to support its retailer partners, Auto Trader, the UK’s largest marketplace for new and used cars, has launched Retailer Performance Masterclasses (RPM), a new online learning hub.
RPM has been purpose built and designed around retailers’ busy schedules, offering bitesize tutorial videos lasting approximately five minutes in length which guide retailers through the latest in Auto Trader insight. The content, which is free to all Auto Trader customers, also features best practice tutorials focused on the key jobs and strategies required for success in the current retail landscape.
Available on demand via Portal accounts, as well as through trade.autotrader.co.uk/rpm/, retailers can navigate modules in their own time. Upon completion they’ll receive an RPM certification to confirm they are up to date on how to get the very best from their online presence with Auto Trader, and crucially, how to utilise its suite of solutions to capitalise on the opportunities within today’s fast changing new and used car market.
RPM will form a key element of Auto Trader’s existing retailer education programme, including its regular customer webinars and regional masterclasses which, prior to being suspended due to COVID-19 restrictions, were shown to drive an additional average £24,000 of profit per year for attending retailers.
RPM has launched with an initial six modules covering the essentials of automotive retail, but a new module will be introduced onto the platform every month ensuring retailers are armed with the latest insights from Auto Trader’s best performing retailer partners. This will include specialist modules, such as bespoke content for Bike, Commercial Vehicle and Leisure retailers.
The initial modules are:
- Setting a used car strategy: How to set a business up for success and the key metrics retailers should observe.
- Sourcing the right stock: How to identify the most profitable stock and to determine what to pay for it.
- Dynamic pricing to a live market: How to use data to price position stock correctly from day one and how to adapt to changing market prices.
- Perfecting vehicle advertising: The core tenets of marketing best practice, including how to use imagery and video in the most effective way.
- Effective enquiry management: Research from Auto Trader’s mystery shopping programme revealing the most effective way to manage leads.
- Maximising your new car opportunity: A dedicated module for franchise retailers focusing on Auto Trader’s New Car solution, highlighting how to make sure their new car stock is seen by millions of new car buyers each month.
Commenting on RPM, Chris Penny, Auto Trader’s Franchise Brand Director, said: “We have always been committed to making sure our retailer partners are getting the best out of their Auto Trader packages, and since the pandemic hit we’ve been doubly focused on supporting the industry navigate this difficult time. Today, it’s never been more vital that businesses are adapting to the evolving landscape, and not only nailing the basics, but taking the extra steps required to meet the fast-changing consumer expectations. It’s with that objective firmly in mind we designed RPM.
“We’re incredibly proud of our education programme and truly believe it can make a significant contribution to retailers’ bottom line. The insights we shared during our regional masterclasses helped attendees sell an average of three additional cars a month, and three days faster, resulting in an increase of over £24,000 in annual profit. RPM will build on this success, and we have every confidence will help our customers introduce even greater efficiencies across their businesses.”
As well as through Portal accounts, Retailer Performance Masterclasses can be accessed here: https://trade.autotrader.co.uk/rpm/
 Internal analysis of 2019 AT Masterclasses. Over six months attendees sold three additional cars per month and sold each car three days faster following attendance. Based on a £750 proxy margin, resulting in approximately £24,000 additional profit per year.