Bicycle Blue Book adds new lead gen feature to website and supports partners in modified retail environment
(San Jose, CA – May 18, 2020) -- Bicycle Blue Book first launched its lead generation tool in August of 2019. The feature was an immediate success, resulting in thousands of qualified trade-in customers buying a new bike at retailers across the country.
Since the Shelter in Place (SIP) order was announced across the country, traffic for Bicycle Blue Book’s lead generation tool has increased 400%. While the activity increase was a positive sign customers want to trade in their current bike to buy a new one, it was difficult for retailers to manage prospective customers due to modified working conditions. After gathering feedback from their trade-in partner network, Bicycle Blue Book’s business development team shifted focus to finding a solution.
To help alleviate the constraints brought on by SIP, the business development team processes all sales leads in house before sending customers to the retailer. After a lead is submitted, a company representative follows up with the lead gen customer, qualifies the trade-in, creates the trade-in scorecard, finds out what new bike they are interested in purchasing, and then connects them with the retailer to complete the purchase. This service has been available for just over a week and has already resulted in hundreds of customers trading in their current bike for a new one.
In an effort to make it even easier for customers to trade in their current bike, Bicycle Blue Book launched a lead generation product on their own website. “With over 1.5M website visitors each month, we believe we can convert a portion of those into pre-qualified customers, that are ready to purchase a new bike at one of our trade-in partners” said Chris McLaren, President at Bicycle Blue Book. “Our company remains committed to supporting bicycle retailers across the country. We believe that trade-in represents a tremendous opportunity for our industry to sell the more expensive bikes that are sitting at retail stores. Industry data is showing that the current buying trend is focused on bikes prices at $2,000 and below which is causing the industry to sell out of their inventory in this price range. Considering the average trade-in customer spends $2,800 on a new bicycle, our trade-in program can help retailers and manufacturers sell through more expensive inventory.”
About Bicycle Blue Book: In 2011, Bicycle Blue Book founders set out to answer the question, "what's your bike worth?" They leveraged their extensive cycling industry knowledge, analyzed millions of transactions, and created a high-performance predictive analytics platform that uses automated machine learning to accurately report on bicycle values. The result was the company’s Value Guide, which is the cycling industry’s definitive valuation authority. With the Value Guide as its foundation, the company created the Authorized Trade-in Program and Marketplace to help the cycling community upgrade their bikes more frequently, fairly, safely and conveniently.
