Digital Dealer 15 Its Called A Marketing Mix For A Reason
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NO MARKETING CHANNEL CAN STAND ALONE WHAT EVERY YOU DO OFFLINE WILL INFLUENCE ONLINE LEAD GENERATION TIME PRESSURE IS SHORTING LEAD CYCLES & SALES CYCLES JUST BEING IN THE CHANNEL ISN'T ENOUGH A CONSISTENT, CLEAR, COMPELLING & CREDIBLE MESSAGE IS A MUST
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Digital Dealer 15 Its Called A Marketing Mix For A Reason
- 1. Digital Dealer | 15 October 2013 | Las Vegas It’s Called A Marketing Mix For A Reason. Channel attribution in a multi-channel marketing world Larry Bruce President / CEO, OnlineDrive @pcmguy
- 2. “ Larry Bruce | President / CEO, OnlineDrive There are no expert marketers. only, experienced marketers and expert testers “ 125 20% 12.1 Million Dealerships Control Group In Market Visitors 1 Million Emails Sent ? 2200+ 600,000 Surveyed Buyers Direct Mail Pieces Sent Which channel would produce the highest lead generation for the client? ! Note : Lead Definition – Call, Sub Form, email, chat where good contact information was collected The avg. customer only took 57 days to purchase a vehicle
- 3. “ Larry Bruce | President / CEO, OnlineDrive “ The goal of a test is not just to get a lift... it’s to get a learning 03% 3rd Party 02% Email Marketing had the highest impact on lead generation 04% Traditional Media Sites 05% Content Marketing 09% Organic Website Social Media 11% PPC + 12% Direct Mail 37% Email Marketing ! 17% Website Behavioral Targeting Most channels significant dependencies to one another critical to success
- 4. “ Larry Bruce | President / CEO, OnlineDrive Sustainable Competitive advantage can only be achieved through superior understanding of your customers behavior Why it’s called a marketing mix for a reason “ 79% of Offline source leads continued their research online 93% of Digital source leads were tracked at 2 or more online properties owned by the client 87% of all cases More Leads equated to More Shows & Sales
- 5. Larry Bruce | President / CEO, OnlineDrive Email Marketing 64% 70 60 50 46% 36% 40 Lift CTR Lift Conversion Rate 30 24% 17% 20 14% 10 0 Social Media 3% 1% Direct Mail Traditional Media Other Factors PPC 68% 212% 79% Lift in conversion when directed to a landing page vs. dealerships Random Access Website Lift in CTR when there is a Single Clear Call To Action Lift in CTR when the email is an email not an ad and is from a person
- 6. Larry Bruce | President / CEO, OnlineDrive Website Behavioral 180% 172% Targeting 160% 140% 120% 112% Traffic Lift in Conversion 100% 80% 60% 66% 47% 40% 20% 0% 14% 10% 16% Traditional Content Media Marketing Email Marketing PPC Major Factors 1% 3% Website Organic 1% 2%3% 3rd Party Sites 72% Targeting service customers for test drives accounted for over 72% of the lift when using website behavioral targeting when driven by an incentive.
- 7. “ Larry Bruce | President / CEO, OnlineDrive “ Number 1 way to conquest new customers Direct Mail 78% 80% Lift in Visitor Rate Lift in Conversion 60% PPC Website Behavioral Targeting Website Organic Content Marketing 3rd Party Sites 40% 20% 12% 0% Electronic Media “ 6% 3% 2% Email Marketing Social Media The goal of the Direct Mail piece is no longer to get the call or the visit to the store. It’s to get the visit to a landing page. Tell the prospect just enough to get he visit to the landing page, Explain the offer & get the lead. “ No Change in 46%
- 8. “ Larry Bruce | President / CEO, OnlineDrive PPC is a combination of Search Marketing, Display Marketing and Remarketing these things are not mutually exclusive PPC (Pay Per Click Marketing) “ 60% 54% Lift in CTR Lift in Conversion 50% 40% No Change in 30% Website Behavioral Targeting Content Marketing 3rd Party Sites 20% 18% 14% 14% 7% 7% 10% 0% Electronic Media 6% 4% Email Marketing Website Direct Organic Mail The Biggest Influences on PPC come from within : Search & Display 19% 26% Remarketing as Targeted Display 16% 35% 4%4% Social Media Remarketing 9% 7%
- 9. “ Larry Bruce | President / CEO, OnlineDrive If I am your ideal prospect… WHY should I do business with you over any other store in the market? Website Organic “ 80% 78% 70% Lift in Traffic 60% Lift in Conversion 50% No Change in Social Media Direct Mail 3rd Party Sites 40% 30% 20% 10% 0% 41% 31% 9% 14% 12% 2% Electronic Content Email Media Marketing Marketing PPC ! 1% 6% Social Media 2% 3% Direct 3rd Party Mail sites There were several contributing sub factors critical to the success of organic traffic
- 10. Larry Bruce | President / CEO, OnlineDrive Website Conversion Amplifiers Conversion rates for Organic traffic to the dealership main website rose 47% when adding Incentive Based Behavioral Targeting to the site. Sites with USP’s (Unique Selling Propositions) avg. 11% higher conversion rates. Sliders with VALUE got avg. CTR of 5% and avg. Conversion rate of 6%. Sites using Value Your Trade pg. converted 58% more leads than those with out and 101% higher lead volume with a 57% show rate using Inventive Based Behavioral Marketing. Service Test Drive Program avg. 58 leads from service per month with a 16% Sale Ratio Specials Page – 36% Lift in conversion for sites with current specials page & 69% Lift in conversion when Incentive Based Behavioral Marketing was added. There was an additional 25% Lift in conversion when specials pages were linked to their own dedicated microsite.
- 11. “ Larry Bruce | President / CEO, OnlineDrive The content is NOT the marketing Content Marketing “ 300% 277% Lift in Traffic 250% Lift in Conversion 200% 150% No Change in 118% 100% Direct mail 3rd Party Sites 37% 50% 12% 6% 8% 0% Email Social Marketing Media Conversion Amplifiers Display Marketing with in the content itself with a 3% 3% Website Electronic Organic Media 1% PPC 93% Lift in CTR, 22% Lift in Conversion, Incentive Based Behavioral Targeting 13%Lift in Conversion.
- 12. “ Larry Bruce | President / CEO, OnlineDrive People are not likely to remember your commercial… they are most likely to Remember HOW your commercial made them feel “ 180% 160% 140% #1 largest impact channel Lift in Conversion Lift in Traffic #1 largest #1 largest impact channel impact channel 78% Lift in CTR Lift in Visitor Rate 112% 41% 54% 40% #3 largest impact channel 78% 80% 60% impact channel 171% 120% 100% Electronic Media #1 largest #4 largest impact channel 46% 24% 18% 20% 14% 3% 3% 0% Website Organic PPC Electronic Media Direct Mail Website Behavioral Targeting Email Marketing Content Marketing
- 13. Larry Bruce | President / CEO, OnlineDrive NADA Data 2013 Advertising and the Dealership Electronic Media $7.2 Billion 2002 2012 8.5% 26.5% 10.8% 5% 7.4% 20.2% 9.6% 16.7% 46.7% Newspaper 15.7% Radio 16.9% Television Direct Mail In 2012 Ad spend rose $800,000,000 over 2011 yet expense per vehicle sold fell 1.1% to $621 over 2011 15.9% Internet Where is the Fat ? Other
- 14. “ Larry Bruce | President / CEO, OnlineDrive The only marketing channel we could find that is truly an island “ 3rd Party Sites were the last impact channel 3rd Party Sites were the last impact channel 3% 3rd Party Sites Lift in Traffic Lift in Conversion No Change in 2% Email Marketing PPC Direct Mail Content Marketing 1% 0% Website Behavioral Targeting Website Organic They have a place in your marketing mix however they are ALONE
- 15. “ with Talk Larry Bruce | President / CEO, OnlineDrive your customers and prospects not just at them “ #1 largest Audience impact channel Social Media Conversation Conversion Lift in Conversion Lift in CTR 70% #2 largest 64% Website Behavioral Targeting 50% 40% #5 largest 20% Goals impact channel impact channel 3% 2% 12% 10% 0% #5 largest 4% 4% 37% #3 largest impact channel 36% 30% Awareness, Loyalty, Conversion Lift in Visitor Rate impact channel 60% No Change in Lift in Traffic Email Marketing Content Marketing PPC Direct Mail 6% Website Organic Give away fans are useless, less than 6% bought with in 12 months of the give away. People who your dealership on are 43% more likely to buy from your store
- 16. “ Larry Bruce | President / CEO, OnlineDrive People buy the way they buy, NOT the way YOU want to sell them “ 1 st you should understand the primary goal in each channel Conversion Email Website Behavioral Targeting Direct Mail PPC Website Organic 3rd Party Sites ? What is the right Marketing Mix? Awareness Social Media Content Marketing Electronic Media Traffic 3rd Party Sites
- 17. “ Larry Bruce | President / CEO, OnlineDrive Customers do not see your marketing the same way you do with specific messages in specific channels for specific vehicles, vehicle types, makes or models. Overlap will happen whether you want it to or not, you will have to integrate the pieces to achieve significant gains. “ That starts with a consistent message across all Marketing Channels ? What is the right Marketing Mix?
- 18. Larry Bruce | President / CEO, OnlineDrive Budget Allocation By The Numbers Overall Budget Digital Break Down Social Media Other 7% 8% 3rd Party Sites Digital 35% Direct Mail 10% 10% Website Organic Email Marketing 20% Website Behavioral Targeting 15% 15% Content Marketing 15% Electronic PPC 35% 30%
- 19. “ Larry Bruce | President / CEO, OnlineDrive In Automotive Lead Generation PRICE was a secondary concern Largest Amplifiers To SHOWS AND SALES 96% of all customers surveyed said they visited the dealerships website before visiting the store You MUST answer the WHY QUESTION… WHY should I do business with you? 52% lower bounce rate and 11% higher conversion when the dealer added USP’s to the home page of the site. With a 57% show rate. Why should I give you my information? Website Incentive Based Behavioral Targeting accounted for 17% of the overall lead volume, with a 63% avg. show rate. “
- 20. “ Larry Bruce | President / CEO, OnlineDrive Largest Amplifiers To SHOWS AND SALES “ When working to build your business you must be responsive 59% Leads called with in 5 minutes of inquiry were had a 311% higher show rate to the dealership. 60% 52% 47% 46% 43% 50% 40% 30% Call 22% 17% Email 11% 20% Form Chat 10% 0% Show 39% Sale Ratio The show rate diminished by from 10 - 20 minute and there was absolutely NO CHANGE in show rate from 20 minutes to 24 hours.
- 21. Larry Bruce | President / CEO, OnlineDrive Largest Amplifiers to SHOWS AND SALES Why?... 91% of customers that were called within 5 min surveyed were still at their computer when called. Note: Scripting best practice is Give & Get. You should have something of value to give to get what you want … good... re-contact information!
- 22. Question? Larry Bruce President / CEO, OnlineDrive @pcmguy lbruce@theonlinedrive.com “To really use “BIG DATA” the marketer must see the Path… basically the route to the message AND the Pattern Followed… the behavior exhibited when the respondent landed.”