Dealership software platform TradePending has launched a new tool designed to keep dealerships top of mind with customers through automated email and text communications.

The company said Value Watch gives consumers an automated update on their vehicle’s value each month, enabling dealerships to maintain brand awareness, increase sales and service opportunities, and foster long-term customer relationships.

“Dealerships face relentless competition from national brands and online car sales companies vying for their customers’ attention,” TradePending CEO Brice Englert said. “Value Watch levels the playing field by delivering consistent, meaningful communications that help keep the dealership top of mind, strengthening the dealership-customer relationship.

“Value Watch is about helping dealerships build their brand while driving measurable business results, without requiring any additional work.”

Value Watch enrolls consumers who submit a trade-in lead or request a payment estimate that includes a trade-in, regardless of whether they purchase a vehicle from the dealership.

Automated monthly emails or texts then inform consumers about their vehicle’s real-time market value, the company said, while also incorporating service offers to help move customers into the dealership’s service center.

The tool includes a dedicated landing page for marketing campaigns and promotes service specials and integrates with other TradePending products such as Service Offers, Trade and Payments.

Tyson Fettes, director of marketing for Lynch Family of Dealerships in Burlington, Wis., said the tool allows his business to compete with the industry’s larger players for consumers’ attention.

“Carvana and every service company under the sun are constantly messaging our customers to try and buy their car or earn their service business,” he said. “We signed up for Value Watch because I recognized right away that it will keep our dealerships in front of consumers without having to lift a finger.”