Advertisement feature from Phyron
Much of the discussion around digitalisation of the car buying process centres on new cars. Yet the used-car market is ripe for innovation and the introduction of experiences that generate excitement and demand among car buyers and help dealers move inventory more quickly and reduce selling costs.
Now, over 4,500 small and medium dealerships across the United Kingdom can access Phyron’s game-changing automated video service thanks to integration with Auto Trader Connect, updating their Auto Trader advertisements with visually engaging videos in real time.
Integration with Auto Trader Connect gives Phyron access to an application programming interface (API) used today for the upload of imagery and stock records to the Auto Trader classifieds site. Phyron takes a retailer’s still imagery and stock record information and runs it through its Artificial Intelligence (AI) software to automatically produce on-brand and engaging videos, with zero human input.
“We know that our technology is a huge help to automotive retailers and it has been proven to drive 50% more traffic and sell cars faster,” says Phyron CEO Johan Sundstrand. “Accessing Auto Trader Connect will enable every small and medium-sized dealer in the UK to produce automated videos simply from a few still images. This is particularly exciting for dealers who might have limited resources and concerns about balancing budgets. This will significantly help dealerships to move cars more quickly, improving cashflow and profitability.”
An independent UK dealer with 50 cars on its forecourt, for example, could completely revamp and upscale its vehicle presentation on the Auto Trader platform without signing up to any long-term contract. What’s more, Phyron’s automated video service is known to increase speed of sales and turn inventory around faster.
Earlier this year car retail giants Adevinta asked Phyron to create videos for car advertisements on one of its digital retail platforms. Phyron took a data feed from the 10,000 cars sold on Használtautó.hu in Q1 2022, including at least three still images and key product details.
Phyron’s AI technology identified the key properties in the images, including various shot angles, interior elements and exterior highlights, and stripped out the backgrounds and replaced them with a neutral one. The software then added special effects, shadows and overlaid the desired product specifics and any offers on the relevant images, including price and branding.
Adevinta reported that Phyron’s video ads helped sell cars three to five days faster than ads without, significantly improving profitability and the turnover of stock.
Phyron’s innovative video and AI technology is the world’s first software solution for automated video production and distribution for automotive retail. The unique AI software and its algorithms enable Phyron to create videos for car advertisements which can be used on retailer websites, as well as classifieds, across social media channels and targeted email distribution.