New Study: Decrease Days in Stock for Pre-Owned Units by Nearly One-Third

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HomeNet, Inc. has announced the results of an internal study which illustrates that dealers marketing their vehicles online with a dozen or more actual photos, in conjunction with customized vehicle descriptions and accurate pricing, are moving pre-owned inventory an average of 32% faster than those who don't.

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Posting effective vehicle advertisements on the web is no longer a choice, it is an absolute necessity

HomeNet, Inc. has announced the results of an internal study which illustrates that dealers marketing their vehicles online with a dozen or more actual photos, in conjunction with customized vehicle descriptions and accurate pricing, are moving pre-owned inventory an average of 32% faster than those who don't. This study was based on detailed analysis of more than 2.5 million vehicles marketed each day via HomeNet's Inventory Online (IOL) Marketing Suite.

"If more owners and GMs were aware that their pre-owned inventory could be moved nearly a third faster without costing them a dime, you would see Internet Managers turn into amateur photographers and writers overnight," commented HomeNet CEO Jesse Biter. "Snapping a few extra photos and writing emotional vehicle descriptions with accurate pricing are such simple, yet effective, ways to improve your online marketing ROI. Consumers aren't asking for much, they just want information. It simply doesn't make sense to invest significant resources into online marketing yet fail to make your listings as attractive as possible to the people you are trying to reach. We anticipate this gap widening in the years ahead, as dealers who continue to put forth the minimum effort with sub-standard listings will likely get even more accustomed to seeing the same vehicles on their lot each and every day."

The study showed that during the month of June, the average 'days in stock' for pre-owned units was more than 32% higher for dealers who failed to include 12 photos, custom descriptions, and pricing information for their online listings. The analysis factored in data from dealerships in all 50 states and included every major OEM brand.

"Posting effective vehicle advertisements on the web is no longer a choice, it is an absolute necessity," stated Tony Rimas, Director of Operations for The Red McCombs Automotive Group. "With all the tools readily available to make the online marketing process easier, dealers that fail to equip each listing with multiple photos and emotional vehicle descriptions are really putting their dealership at a disadvantage. Our online marketing philosophy is to do everything we can to duplicate the same emotional buying experience that buyers receive when they visit the lot, across all of our online marketing channels."

Presently serving nearly 13,000 dealership locations throughout the United States and Canada with a powerful suite of inventory management and marketing tools, HomeNet is well-equipped to provide expert analysis to the automotive industry. The company plans to continue mining its vast proprietary database of vehicle inventory in an effort to uncover useful facts and interesting trends. Organizations seeking to obtain customized research data are welcome to contact HomeNet for more information.

About HomeNet, Inc.
HomeNet, Inc. is a privately owned automotive technology provider. Founded in 1996, HomeNet's core focus is providing innovative technology solutions to help automotive dealers increase online sales. HomeNet offers its products to a variety of customers including dealers, OEMs, website providers, CRM providers, digital lot management firms, finance/leasing agents, auction agents, and more. The company is based on Christian principles and is headquartered in West Chester, PA, with satellite offices in AZ, FL, GA, IA, IL, TX, and UT. For more information, please visit http://www.homenetinc.com .

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