- Source Digital will leverage its innovative technology to promote PowerBand’s platform inside popular video content with various channels and influencers in the United States
- Online vehicle auction sector is expected to continue growing at a fast rate, further spurred by current pandemic-imposed social distancing rules
- PowerBand and D2D cloud-based platform is highly efficient and convenient for both dealers and buyers, enabling consumers to buy, sell, lease and trade vehicles through their smart phones
The future of auto sales is online, and PowerBand Solutions Inc. (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) is launching an innovative digital advertising campaign to offer its platform enabling virtual transactions to consumers and automotive dealers across the United States. The platform will allow them to sell, buy, lease, auction and finance vehicles irrespective of their location, including within any form of video.
To this end, PowerBand has partnered with Source Digital, a pioneer in immersive commerce through the use of digital media platforms and video content on the internet. This unique campaign will use Source’s patented advertising technology to deliver PowerBand’s cloud-based transaction platform, which makes selling or buying a vehicle just as easy as selling or buying a product on Amazon or eBay (http://ibn.fm/i0VgR), to millions of consumers.
“With PowerBand, you can use your smart phone or laptop to buy, sell, lease, trade or finance a vehicle, often in seconds. We believe it’s important to get PowerBand’s transaction platform into the hands of both dealers and consumers, to help them in this current economic crisis and navigate the new reality, in which consumers and dealers must be more digitally connected,” PowerBand CEO Kelly Jennings stated in a news release. “Source will bring PowerBand’s virtual transaction platform to people who need it.”
An immersive commerce and advanced advertising platform that has worked with both Fortune 500 companies and startups, Source will promote PowerBand’s vehicle transaction platform inside popular video content. The company’s media network includes diverse content publishers, including NBC Universals, LiveNation, Motor Trend, Golf, as well as music, auto racing or other professional sports influencers.
“Our technology will deliver the entire PowerBand suite of automotive products directly into video content, taking them directly into the heart of consumer engagement at a precision moment without even pausing the content they’re watching,” Source Digital CEO Hank Frecon added.
The innovative platform could not have come at a better time, as online car sales are increasing exponentially. For example, online-only vehicle auctions experienced a 33% compound annual growth rate between 2013 and 2017 compared to just 2% growth of physical auctions. The number is expected to grow considerably as people are looking for safer ways to buy and sell vehicles so as to avoid crowded dealerships and respect social distancing rules imposed by the ongoing coronavirus pandemic. Nearly 90% of Americans report they dislike the car dealership experience, saying they feel anxious or uncomfortable in dealership settings.
PowerBand has already successfully launched and conducted ‘virtual’ auctions in the United States together with and D2D Auto Auction LLC. D2D is co-owned by PowerBand and Arkansas-based financier Bryan Hunt, director of J.B Hunt Transport. The highly successful virtual auctions, held on April 7th and April 16th, testified to the speed and efficiency of D2D’s unique transaction platform (http://ibn.fm/3mEm5).
PowerBand’s transaction platform was developed by a team of experienced automotive, technology and finance experts. It was created around the core belief that consumers preferred to conduct automotive transactions online and avoid interactions with unnecessary middlemen.
Allowing people buy and sell cars and trucks with never-seen-before simplicity, speed, and cost-efficiency from the comfort of their own homes, the PowerBand virtual-transaction platform is a reliable and safe alternative to physical auctions, especially in this day and age.
For more information, visit the company’s website at www.PowerBandSolutions.com
NOTE TO INVESTORS: The latest news and updates relating to PWWBF are available in the company’s newsroom at http://ibn.fm/PWWBF
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