Cars2click is a B2B car trading company with a difference. Recently, we caught up with one of the founding members to find out more about how his unique offering is completely revolutionising the car trade industry.
Cars2click founders, Brian Madsen and Fredrik Glenning, were more than familiar with the used car sales industry, with selling via online auctions being the norm. However the duo realised that, despite online being a successful selling format, the process itself was far too heavy, costly and time-consuming for the auction companies, plus there was far too much competition as selling online was so simple to set up that literally anyone could do it! The pair decided to change the way they worked and the idea of Cars2click was born.
Effectively, Fredrik and Brian turned the process around – instead of waiting for the auction results to see who the purchaser was, Car2click uses market data to identify and target potential buyers instead.
The firm uses a digital set-up to harvest data known as ‘retail driven B2B car sales’. This data can show how many cars of each brand, model, variant, fuel type and colour are sold in each country and region. It even developed GEOpricing which employs its own comparison table to highlight in which countries a certain car can be sold at the highest price, and how fast it will sell. Once the most suitable country has been decided for the intended vehicle, the firm’s very own GEOmatch will simply present a list of the most likely buyers for that specific car. A sophisticated AI robot, or ‘Maria’ as she is also know, will even create a business case and send it via email or chatbot to a potential customer.
The firm may have begun on the understanding that car dealers needed help to improve the way they manage used car sales and online selling was already a tried and tested approach, it just required a little tweaking. However Cars2click also recognised that, although the digital process is highly effective, people still want to deal with people, so a personal approach was missing. This is something that the firm overcomes as it offers a door-to-door transport service.
“Knowing what is hot and what is cold is one of the most important factors when selling cars,” explains co-founder Brian. “Knowing that you are faster in deciding where to sell your cars is crucial as the most important thing for a car dealer is to turn around the stock fast and with a good profit, so we only offer cars which we know sell fast in that country.”
Promotion and marketing is not a big part of the Cars2click budget as the service sells itself. The buyers are car dealers across Europe and rental/leasing companies that need to shift stock cars fast, and the firm is lucky regarding its staff base as many of the trading managers employed have strong relationships with dealers from their vast experience in the industry.
“We have people in all the countries that we operate in and the reason for that is that they need to establish a relationship with our car sellers and car buyers, build a network and take responsibility for the delivery of the promise we make when we offer and sell cars. We will not need as many employees as our competitors due to our digital set-up but we need people to maintain and grow our network.
That being said, Brian jokes that Maria, the AI robot, is the most important member of staff and the most effective client hunter as her 100% digital approach accurately identifies buyers each and every time!
As well as being at the forefront of cutting-edge digital technology, the start-up company also has the benefit of not having the old culture of car sales mixed with an entrepreneurial approach to development and changing old patterns. Instead, Fredrik is what Brain affectionately calls “the car guy,” whilst he handles the digital side of the business.
“Together we make a great team and the company culture is linked to this friendship and our shared values,” laughs Brian. “Our golden rule and way of working and treating people the way we would want to be treated, with honesty, trust and clear, honest relationships are a key part of our culture and DNA.”
It is an approach which clearly works. The company is not only successful, but in the space of not quite two years Cars2click is turning over £2 million worth of revenue, making it one of the fastest-growing car traders globally to date.
“We have gone from zero to what we are today faster than expected and a lot faster than I was used to working for other companies, we are very fast from having an idea to developing it and then launching new features.”
These new features are just scratching the surface of what Cars2click is working on as a new offering, this being a subscription based solution with three main options:
- Cars2view – a dealer management system with easy-to-use online dashboards which will help car dealers monitor the market and their competitors. Dealers can even see which of their cars are slow moving. All this is linked directly to Cars2click therefore any car dealer with access can easily publish a car on the website www.cars2click.com with a simple click.
- GEOpricing – the solution which tells dealers in which country they can get the best price for their car.
- GEOtrend – a solution for rental companies, leasing companies and manufactures who want to know about current market trends within the industry.
It seems that, for now, the skies the limit for Cars2click and both Brian and Fredrik are very proud of their achievement and of the team they have around them who join them on their crusade to help car dealers become more profitable by taking advantage of the ‘new normal’ in the way of digital opportunities.
“Ultimately, we are constantly on the move to improve and expand our data to cover more and more countries and to have better and better data. We are moving forward so fast now – changing the automotive world on our journey with and AI as we build a new future.”