INCISENT Labs builds companies that reimagine and re-engineer conventional business practices and develops new products to transform industries.
An incubator for creating new tech companies and startups, Incisent decided to search for a solution for the retail automotive arena once it realized that this area of retail needed to reinvent itself, as growing distrust in salesmen and negative car buying experiences have accrued in the US.
Incisent got to work and brought Lolay onboard to help develop a set of solutions to make automobile retail more convenient for both buyers and dealers.
FirstLook Mobile Appraiser
Users can quickly reference vehicle history using CarFax or AutoCheck by scanning a picture of the Vehicle Identification Number (VIN) through the camera of their smart phones. FirstLook Mobile Appraiser decodes the VIN, makes the user enter vehicle mileage, then proceeds to display book values, auction data, vehicle history and market listings.
FirstLook became part of MAXDigital in order to expand the automobile-retail services offered by Incisent. As the new face of FirstLook (the first company), MAXDigital undertakes annual research on the consumer buyer process by using cloud-data approaches that are not typically found in automotive research.
By understanding the needs and behaviors of the market through data-driven consumer insights, MAXDigital is able to help both the consumers and dealers through tools like Inventory Management Platform and Marketing & Sales Platform, platforms also developed by Lolay.
Inventory Management Platform
Intended for the dealer, this platform is a fully integrated inventory solution that empowers dealers with advanced analytics and decision-making tools to make their businesses more efficient and profitable. Core features:
Quickly sources the hottest selling vehicles in the market as well as those vehicles that already have a successful track record of selling quickly and profitably.
MAXDigital’s Appraisal tool lets dealers close trade-ins more effectively while maximizing gross profits. By taking advantage of the industry’s most accurate sources of Vehicle data, dealers gain insight into the optimal price to pay for a vehicle.
Real-time market and wholesale data is delivered, allowing dealers to appraise, price, and sell inventory at the right amount.
Marketing & Sales Platform
Also intended for the dealer, Lolay was entrusted with making an app to pull research from across the entire internet for every single vehicle in a dealer’s online inventory. Marketing & Sales Platform was the final product. The platform uses a state of the art process known as the MAX Content Generation Engine to gather required research from the internet, such as:
- Price Validation
- Vehicle History Reporting
- CPO Information
- Expert Reviews & Awards
- OEM Information
The Marketing & Sales Platform also comes with three tools that apply information pulled from the MAX content Generation Engine to ultimately turn car browsers into car buyers.
This tool integrates with a dealer’s inventory management system and enables them to easily merchandise their used car inventory, manage vehicle pricing, and create advertisements relevant to consumers.
Each ad compiles all the information generated by the MAX Content Generation Engine. The ads produced include pictures, pricing and are then automatically sent to over 200 3rd party sites like Autotrader, Cars.com as well as dealer sites.
2. MAX for Website
Users can access an all-new VDP page that shows them information generated by the MAX Content Generation Engine. Users can also see Trade-In-Value Reporting and online reviews by DealerRater integrated directly on each VDP.
3. MAXDigital Showroom
This is a tool that provides the salespeople on a team information about every single vehicle in the online inventory. A smart way to save money on training sessions.
The average customer spends much time and effort doing research on a car before they even consider taking the trip to negotiate with the middleman: the car agency. Researching the vehicle to buy is never the only factor that goes into play when making the decision to buy a car. Financing options, price incentives, and special offers are just some factors considered before, during and after buying a car.
The last thing a buyer wants to do is to during a car purchase is to have to rely on a salesperson to be their sole source of knowledge when it comes to making the tough monetary decision of buying a car. The last thing a salesperson wants is to lack real-time knowledge about what they are selling and endure embarrassment. Thanks to MAXDigital, these uncomfortable scenarios don’t have to happen.
Re-imagining the automobile retail area was never a simple feat, but Incisent continues to research and optimize this arena.