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DigitalSins
- 2. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 2/50dealers.cars.com/knowledgecenter THERE ARE METRICS, AND THEN THERE ARE MEANINGFUL METRICS. WHICH ONES AREYOU LOOKING AT? Online advertising brought the promise of great measurability. However, media attribution today is still complicated. As car shoppers use more sources and devices during the purchase process, the lines of attribution blur. Despite differences in consumer behavior today, some dealerships are still looking at the same old metrics in the same old way. Standardized internet metrics have become obsolete, often leaving dealers with a scorecard that’s stuck in the past. Single-source metrics like email leads represent only a small percentage of overall online activity and influence, yet many stores rely solely on these data points when evaluating their marketing investments. %
- 4. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 4/50dealers.cars.com/knowledgecenter Start by asking yourself if you’ve been taken by any of the following misconceptions: If any of these sound familiar, you may be making decisions based on bad data. In the process, you could be wasting media dollars, or worse yet, eliminating advertising options that help you influence shoppers. Assuming All Audiences are Created Equal Putting Too Much Focus on the Lead Viewing Vehicle Detail Page Traffic as the Gateway to Sales Underestimating the Value of Online Branding Overvaluing Your Own Website and the Last Click BelievingYou Can Measure Everything Not Recognizing the Importance of Mobile
- 5. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 5/50dealers.cars.com/knowledgecenter Our deal attribution at the dealership level is totally wrong. We’re not tracking the way the customer actually shops, and the metrics we are using to make marketing decisions are completely incorrect. We’re trying to single source deals and then making marketing decisions based on who has the lowest cost per sale, but we can’t even track that. We are making thoughtful decisions with really bad data, which ultimately means we are making really bad decisions. Jared Hamilton CEO Founder DrivingSales inc. “ ” Savvy Marketers Are Looking at Things in a New Light Not everyone is hung up on outdated metrics. There are marketers who have rejected old ways and moved to holis- tic, multisource attribution models. They are aligning their marketing metrics with every aspect of the consumer’s path to purchase. By measuring key activities, considering points of influence and taking into account the complexities of today’s fragmented media landscape, they are making smarter marketing decisions and improving ROI. This new breed of marketers embraces new data to understand what drives activity, and you can too. Start by recognizing and understanding the 7 Digital Sins that could be holding your dealership back. With a complete view of the metrics that matter now, you’ll be positioned to reach the right audience, build awareness, drive consideration and ultimately improve conversion rates. Let’s get started.
- 6. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 6/50dealers.cars.com/knowledgecenter DIGITAL SIN 1 Assuming All Audiences are Created Equal Not all eyeballs are on the lookout for a car. Here’s a common scenario: You’re evaluating your marketing mix for the year, and you need a way to compare all of your media options. You look at the total audience size and the cost to reach a certain number of buyers and choose to work with partners who deliver the greatest reach for the lowest cost. Or you simply choose partners who promise the biggest audience or most impressions. Good plan, right?...Well, not really.
- 7. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 7/50dealers.cars.com/knowledgecenter Why Bigger Isn’t Better While traditional media such as TV and radio promise broad reach for your brand, your message there is often wasted on a large number of consumers who aren’t concerned with car shopping, not to mention those who simply tune ads out. In other words, it’s likely your message will only be relevant to 1 in 10 consumers who are exposed to your advertising. Considering only 11 percent of U.S. adults aged 18-64 are considering buying a new car at any given time, your ad dollars may be wasted on the 89 percent who are not in the purchase process.1 11% Despite this data, many dealerships are still investing significant dollars in traditional media with the goal of getting their brand in front of a large audience. Pretty good for brand building, not so good for driving traffic and sales. According to the latest data from NADA, more than 50% of dealership’s ad dollars are going to traditional outlets2 : RADIO 16.9% NEWSPAPER 15.9% TV 20.2% ADVERTISING ACTION TIP » Regardless of medium, make sure you are giving your audience a consistent message. Delivering a consistent message across channels will make your media dollars work harder, and it will give the audience a more trusted view of your brand, helping them distinguish you from your competitors. «
- 8. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 8/50dealers.cars.com/knowledgecenter Today’s media landscape is highly fragmented, leaving consumers with more choices and giving advertisers more effective options to reach them. To get the greatest efficiency in your media plan and stretch your marketing dollars, targeting is key. It’s no longer about reaching the most eyeballs, but about reaching the right eyeballs at the right time. Linda Bartman CMO Cars.com “ ” Cars.com CMO Linda Bartman advises stores to look to media options that drive action based on relevancy. Rethinking audience and aligning media to deliver against your marketing goals will promote efficiency in your budget- and improve effectiveness of your marketing. On the next page are some quick tips to help you more ef- fectively evaluate audience metrics when looking to estab- lish the right media mix for your store.
- 9. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 9/50dealers.cars.com/knowledgecenter Considerations When Evaluating Audience Align Audience with Marketing Goals Before you evaluate audience, first establish your marketing goals. Choose platforms that deliver the right audience for your campaign objectives. • What are you trying to accomplish? • Are you looking to differentiate your dealership, promote an incentive or get visibility for your inventory? • What types of consumers do you want to reach? 1 Understand Audience Composition Don’t just look at broad audience numbers. Understand the local audience composition your buy will reach. • What concentration of car shoppers does the medium reach? • What are the audience demographics and how do they match audience needs for your makes? • Is the audience local? 2 Evaluate Audience Engagement Consider how engaged and receptive the audience will be to your message. Understand how likely the platform will be to influence decisions and drive conversion. • How engaged is the audience with the content and the ads? • What is their intent? Is the audience there to buy a car? • Are you reaching the audience in context at key moments of decision-making? 3
- 10. 10/50dealers.cars.com/knowledgecenter ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... IN THE SEARCH FOR AN AUDIENCE OF ACTIVE CAR SHOPPERS, AUTOMOTIVE MARKETPLACE SITES DELIVER. CONSIDER THIS: On average, more than 12 million in-market shoppers visit Cars.com each month.3 On Cars.com, 77% of our shoppers plan to buy a vehicle within the next year.4 Shoppers who visited Cars.com in Q1, 2013 were 3.3x more likely to buy a vehicle in March than the average online consumer.5 11% Every day, Cars.com has 4.6x more unique in-market shopper impressions than the average :30s national TV ad during an NBA regular season game.6 Every week, Cars.com has 10.1x more unique in-market shopper impressions than the average :30s national TV ad during an ESPN college football afternoon game.6 Every month, Cars.com has 1.1x as many unique in-market shopper impressions as the average :30s national TV ad during the Big Game.6
- 11. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 11/50dealers.cars.com/knowledgecenter DIGITAL SIN 2 Putting Too Much Focus on the Lead Let’s try to keep the lead in perspective. The lead has long been considered the holy grail of conversions with a host of associat- ed metrics — from cost per lead to cost per sale — that dealerships track vigilantly, driving their strategy and advertising decisions. Yet, most car shoppers today never actually generate a lead. Even those who submit one don’t always convert. Still, many dealerships remain focused entirely on email leads.
- 12. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 12/50dealers.cars.com/knowledgecenter It Was Great While It Lasted... When online retailing first arrived, courting email leads made a lot of sense in terms of technology and shoppers’ online activities, and many marketing platforms were built around that activity. Email leads were easy to measure and to assign accountability for within the dealership. But as our industry has matured and technology and consumer behavior have changed, there are countless reasons to rethink a singular focus on the lead. Why is it time to start seeing what else is out there? Well, first of all, email is not how shoppers engage today. Very few car shoppers see enough value in sending an email lead to provide their personal information. For consumers, there’s very little to gain. Many times users have specific information needs and they question the turnaround time of an email request, so they seek channels that allow for immediate conversations, rather than a formal, delayed response. For some, these channels still include a phone call. But, this is dramatically shifting as well. 11% In fact, 47 percent of consumers between the ages of 18 and 34 view an SMS message to be as meaningful as a phone conversation.7 A recent Experian Marketing Services study shows how SMS is replacing phone calls. Shoppers are opting for chat and SMS because they are more anonymous and/or immediate than waiting for an email response. In fact, many shoppers use the live chat option on Cars.com and indicate chat as their preferred method of communication.7 Dealers who effectively manage these new channels have an immediate opportunity to build rapport and trust with live shoppers.
- 13. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 13/50dealers.cars.com/knowledgecenter Next, of course, lead sending is on the decline. Despite the fact that site traffic is up by more than 30 percent on Cars.com, we’ve found that traditional leads (email and phone) are not growing.3 As we’ve enhanced our user experience to be more consistent with consumer behavior, we’ve learned how readily available data and user tools have eliminated the need for today’s shopper to submit leads. Information is readily available. Other options are faster and easier. No wonder shoppers aren’t filling out lengthy email lead forms. The fact that only a small percentage of shoppers on Cars.com convert to a lead is not unique. According to Dataium, on average, less than two percent of traffic to dealers’ own websites converts to an email lead.8 Some dealers are reporting increases in email leads due to removing obstacles such as lengthy and cumbersome lead forms, yet these gains only represent a very small portion of total consumer activity. However, this decline doesn’t indicate shoppers are less than serious. Sales are up, and consumers are connecting in ways that align with their natural behavior. As leads decline, we’re seeing a simultaneous spike in other key activities that dealerships must also begin to measure and build process around. And anyway, a lead is not a sale. It’s a common pitfall to assume you have a buyer on the hook when a lead lands in your inbox. Consider why shoppers are sending leads, and remember, they’re typically sending requests to multiple dealerships. It is also important to remember that many shoppers go on to do additional research after submitting their initial lead. Consumers don’t just send a lead and ignore all other points of influence. It’s time we recognize that shoppers don’t follow a linear path to purchase, and that leads are not the corner- stone of consumer behavior. Jared Hamilton CEO Founder DrivingSales inc. “ ”
- 14. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 14/50dealers.cars.com/knowledgecenter We’ve seen that 58 percent of lead senders return to Cars.com after their initial dealer email.3 Cars.com dealer training manager, Jack Simmons, notes that despite years of process optimization, even the very best dealers are only closing 15 percent of the leads they receive. This reinforces the fact that even the few shoppers who send leads are sending multiple leads to several dealerships, yet buying only one car in the end. “Only one dealer will win the sale,” says Simmons, who reminds dealers that leads are just opportunities. “Email leads require a strong handling process to re-engage shoppers in the purchase process and to make a connection that brings a shopper into the store and moving toward a sale. It’s worth noting that, while you’re focusing on tracking down an email customer, a mobile shopper is likely already shopping on your lot.” 58% Most importantly, leads are not single-source deals. While it certainly simplifies matters in your CRM system to give full credit for a sale to the given lead provider, even leads are typically the result of multisource media consump- tion. Before sending a lead, shoppers may check reviews, search the dealership and visit the dealer’s website. Per- haps they chose to send the lead based on awareness from a radio ad of a special the store was running or because a relative had shared a positive experience about the store. The same holds true for the shopper’s ultimate decision to purchase. Can Leads Still Play a Role? Simmons doesn’t advocate dealers move away from leads entirely. “While dealers need to evolve and optimize for new forms of contact, I don’t suggest forgoing traditional email leads altogether. Leads continue to provide an important opportu- nity to connect with a key segment of shoppers. You need to have a solid process in place to build trust, get them into your store and give them reasons to do business with you.” ? ? continued
- 15. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 15/50dealers.cars.com/knowledgecenter Simmons offers the following advice when it comes to measuring lead activity. Each marketing platform is different and serves a different role in bringing customers into your store. Looking at lead volume and close rate from pay-per-lead product vs. leads that come from inventory-based digital marketing platforms will not provide meaningful or actionable data for a side-by-side comparison. Regularly evaluate your lead-handling practices to ensure you are optimizing for conversion. »How fast are your people responding to shoppers? »Are they providing a quality response aimed at answering shoppers’ questions? »Does your lead response reinforce your “Why Buy” message and differentiate your store? Just because shoppers aren’t sending a lot of leads, it doesn’t mean they’re not sending signals that they are ready to buy. Measure New Activities and Optimize for Success To keep on track, you want to be aware of new communication channels, measure them and invest in media that optimize against these behaviors. When you receive a traditional lead, you still want to re-engage shoppers by answering their questions and selling them on why they should choose to do business with your store. It’s likely that by investing energy into the following new points of influence you could actually increase conversion. + CHATS + WEBSITE CLICKS + IN-STORE VISITS
- 16. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 16/50dealers.cars.com/knowledgecenter + CHATS If you are not already using chat, you are missing out on an important contact and a growing lead source. One in three households of identifiable shoppers who chatted purchased a vehicle within 60 days.9 A great way to get started is by activating chat on your own website, as well as Cars.com and other sites that provide the ability. CHAT METRICS THAT MATTER TIME ONLINE: The most important metric for tracking the success of chat is the percentage of time your store is showing up online. Simply put, if you’re not online, there’s no way customers can contact you, even if they want to. Strong dealerships should try to be online a minimum of 50% of the time. CHAT ENGAGEMENT RATE: Once you’re showing up online, look at the number of chat messages your dealership receives versus the number of chats answered. If you’re missing chats, you’re missing direct opportunities to engage with customers.
- 17. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 17/50dealers.cars.com/knowledgecenter + WEBSITE CLICKS As shoppers look to find out more about your dealership, many go directly to your website from other shopping destinations. Engage them in your site by providing relevant information about your dealership’s inventory and the experience your customers can expect when they choose your store. Remember, many shoppers will also be viewing your website from a mobile device. Be sure your website is optimized to receive mobile visits, or risk being eliminated from consideration. + IN-STORE VISITS In-store vistors offer the greatest opportunity to win sales. But if your dealerhip’s in-store experience does not match what shoppers are promised online, you’re likely losing sales. To optimize conversion with walk-in customers, it is essential that you have the inventory you advertise online in stock and that you’re consistent in your pricing strategy. Shoppers who don’t find the vehicles they’ve researched online will assume the worst and may eliminate your store from consideration.11of tablet and smartphone users said they’ll never return to a site if it’s not mobile-friendly.10 44%
- 18. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 18/50dealers.cars.com/knowledgecenter DIGITAL SIN 3 Viewing Vehicle Detail Page Traffic as the Gateway to Sales Think your VDP volume is a silver bullet? You could shoot yourself in the foot. Right up there with the lead, many have hailed the Vehicle Detail Page, often referred to as the VDP, as the ultimate indicator of digital marketing performance and advertising value. On most automotive websites, the VDP features one specific vehicle, providing shoppers information such as photos, price, vehicle features and more. It’s natural to assume that VDP views will drive sales. However, be careful when evaluating the effectiveness of third- party websites based on volume of this metric alone.
- 19. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 19/50dealers.cars.com/knowledgecenter KEEP IN MIND THAT COMPARING VDP VIEWS FROM ONE THIRD-PARTYSITE TO THE NEXT IS APPLES TO ORANGES. Different site designs, consumer search options and calls to action significantly affect the amount of VDP views the average dealer sees from one site to another. Each site offers a unique user experience depending on a shopper’s stage in the process, so resist the urge to lump them together in your evaluation. VDP Shoppers are at Different Stages It’s also important to understand that shoppers engage with the VDP in different ways. An analysis of behavior on Cars.com shows that many use the VDP as a research tool during preliminary visits. In other words, a view of your VDP at this stage — the VDP Browser phase — may be more about price range or vehicle features such as MPG than reflecting an interest in buying that specific vehicle from your store. As a result, you get mixed signals.
- 20. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 20/50dealers.cars.com/knowledgecenter VDP BROWSER VDP Browsers are earlier in their process. They’re using VDPs to do their research and build their consideration sets, and they’re doing that research over the course of multiple visits to the site. VDP BUYER VDP Buyers are closer to purchase. They tend to use VDPs to narrow down their options and make sure they’re not missing a better opportunity. VDP views from shoppers in the later stages of their process — the VDP Buyer phase —mean your inventory is getting in front of shoppers closer to purchase, but it’s important to note that the VDP itself may not necessarily be what influences a shopper to choose your store over a competitor.
- 21. ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... ......................................................................... 21/50dealers.cars.com/knowledgecenter What Shoppers Do After the VDP is What Really Matters If you are truly looking to measure purchase intent, don’t look at VDP volume in isolation. You need to be a student of consumer behavior and look at what happens next. Shoppers who visit these key sections in conjunction with the VDP are more likely to engage with your store. In other words, VDPs may be an important factor in getting on shoppers’ radar when they’re Browsers and help you stay there while they’re narrowing their options down as Buyers. However, VDPs are not always the trigger that gets a shopper to choose your store over your competitor’s. VDP +SPECIAL OFFERS 64%more likely to contact a dealer3 VDP +DEALER PROFILE 54%more likely to contact a dealer3 VDP +DEALER REVIEWS 58%more likely to contact a dealer3 Because the lines have blurred and there are so many touchpoints throughout the purchase process, you have to consider VDP metrics in context of other consumer actions. Looking at things holistically will help you gain insight into the complex interdependencies that drive sales. The VDP is a much better diagnostic tool than indicator of purchase intent on third-party sites or a comparative measure of ROI. You could have the best inventory in your market, but if you don’t merchandise effectively, you’re likely to see a drop in VDPs. Fewer than average views of your vehicles may indicate problems with pricing, merchandising or the inventory on your lot.