iVendi takes step nearer to industry-standard measurement of online finance

Time 9:59 am, September 12, 2017

AN ENHANCED motor finance online retailing report has been produced by iVendi.

It comes as part of what the company says is its continuing work to create an industry-standard method of measuring online motor finance.

For the first time, the report uses the number of page views for finance-specific web pages as a key measurement to create what it says should be the fundamental metric of value for dealers, lenders and manufacturers.

Other online measurements are also included, such as a map that geographically shows where customers are viewing websites, most popular finance products, busiest times of day, a monthly traffic view and the average number of finance quotes per vehicle.

Rob Severs, pictured, vice-president of data and insight at iVendi, said: ‘We believe that part of the maturing of online motor finance will be standardised measurements of its impact, and our online retailing report is very much aimed at meeting that need.

‘It provides evidence that visitors to a website are taking the finance option being provided online seriously enough to find out more information and try the online tools that are being provided.

‘Alongside other stats such as the total number of finance quotes, number of unique buyers and the number of full-page advert views, it provides a good overall picture of the role finance is playing in your overall online presence.’

Severs added that the latest report was being tried out with a number of dealers and a definitive version would be produced based on their feedback.

‘If we are going to create a widely accepted industry standard for online motor finance, it is important that we engage in as much dialogue as possible across the industry. However, while we are going through that process, our existing report places many of the key metrics in context, providing a very useful tool for dealers,’ he said.

The company told Car Dealer that as the data was specific to dealers, it was unable to share it.

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