Cars Com Online Ad Measurement

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  • 1. Cars.com DealerADvantage Featured Story Online Measurement http://dealeradvantage.cars.com/da/2008/05/online-measurement-what-yo... Home Subscribe DealerCenter Become a Cars.com Dealer Join Us: Topic Archive Online Measurement Join Us: What Your Lead Management System Wont Tell You Share This Article Rate This Article While online advertising offers greater accountability than any other medium, measurement of online campaigns is still far from being a science. While your lead management tool can be a great starting point to understanding performance, there is a lot it wont tell you. DealerADvantage Live When I started my career in online automotive, what excited me most, aside from the Free Webinar internets unique matchmaking abilities, was the transparency and accountability the medium offered its advertisers. Unlike a billboard on Route 21, we are able to see with precision Register Now where a lead originates, how it progresses through the funnel and when it becomes a sale. Sell More Cars: Tips You Can Implement Simply no other form of advertising so clearly demonstrates its value. But I have to stop and Today to Close More Deals ask, Are we really seeing the full picture? Given all that is traceable online, are we losing sight of whats not? Friday, Sept. 11, Noon ET Evaluation of our business is often so focused on email leads and call metrics we tend to lose Register Now site of the larger objective traffic and sales. When we place an ad online for either a new or used vehicle, the ultimate goal is to match consumers to the right inventory and drive them into Did you miss Cashing in on Web 2.0: Using Social the store where they ultimately make a purchase. The most effective online advertising drives Media Sites to Drive Sales? quality traffic in multiple ways and on all types of inventory. Whether its in the form of an View Recording email, a phone call, a visit to your stores website or a step into your showroom, effectively placed online ads should deliver in-market shoppers who are progressing toward a final purchase decision. While email and phone leads tracked through your lead management system are the most concrete evidence of this impact, they only represent a fraction of what online advertising delivers. Getting the Whole Story To get the complete story and better measure the holistic value of online campaigns, its time to look beyond lead management tools and the data they offer. We must start understanding what the limitations are of online tracking and start placing value on the intangibles that often DealerADvantage on Twitter do not readily reveal themselves. This is what we have always done with other forms of Today's Twip: Need used cars? Private-party sellers advertising, radio and TV. on shopping sites can be an ideal source. #twip Today's Twip: Be enthusiastic to build shoppers' So what else do we need to look at? Here are just a few things to keep in mind when excitement about buying a car. #twip evaluating online performance that your lead management system cant and wont know. Today's Twip: Remember the dos and don'ts when Not all new-car leads are equal, and they cant be measured as if they were. Until recently, using social networks for your store. http://is.gd nearly all new-car leads were the result of online quote request products that drove email leads to /2VP2B #twip the dealership. Buyers interested in a particular make and model would email the store to learn Today's Twip: One-owner vehicles fetch a higher more about your price and you could easily track these prospects through your lead management price. http://is.gd/2VOJn #twip system. New-car value from online services was easily measured youd simply divide your monthly cost by the total number of vehicles sold based on leads received to arrive at an accurate cost per Today's Twip: Stocking the right cars sets the stage sale. While this is still the right way to measure lead generation services that deliver quote requests, for a sale. http://short.to/pd8m #twip it will not give you an accurate measure of performance when advertising new-vehicle inventory online. Recent Comments New vehicle inventory is rapidly displacing request for quote leads as the dominant model Ralph Paglia commented on Dealer Profile: Check in automotive internet. Consumers want to see actual new cars available on dealer lots, and out Rob Fontanos profile in the ADM manufacturer sites, dealer sites and leading independent websites are all listing new vehicles on Professional Community: their sites to meet this growing consumer demand. This dramatic industry shift has consequences http://www.automotivedigitalma and requires a shift in measurement that your lead management tool wont fully be able to capture. rketing.com/profile/RobFontano Just as with used-vehicle listings, consumers are free to link from new-car inventory to the physical K Gray commented on Turbo Tips: Should I Show store by means that can be tracked, such as phone and email. But they can also simply walk into Problem Areas With Used-Car Photos?: I believe the store with no traceable online activity. How will your lead management system track these that many dealers have the best intentions of buyers? Chances are, you may not be able to. Therefore, the next time you compare new-vehicle disclosing as much information as possible but advertising sources, be sure you are not comparing apples to oranges based on the numbers in currently I have not found a... your system. You can evaluate one request for quote service against another, but youll be giving inventory services the short end of the stick if you only measure them on email value delivered, Allan Chell commented on Turbo Tips: Should I which is a fraction of their total worth. Show Problem Areas With Used-Car Photos?: Ralph, I agree with what youre saying but for Internet customers dont come with labels. Nearly 80 percent of all shoppers now go online as dealers its hard to change old habits. As part of their automotive research process, but only a small fraction of those will ever send an email mainstream consumers evolve... lead or call a traceable phone line. During the online research process, shoppers are deciding both Jason Mattia commented on Measure Your Way to what to buy and where to buy. If youve effectively marketed your store, buyers will come into Success: David, I completely agree with your contact with your brand at multiple touch points in their online shopping process, including listings, comments about tracking and the reporting search engine results and perhaps a visit to your website. Its in that process that they are deciding tools of the website. But using 3rd party tools if you are a dealership they might like to do business with. If the answer is yes, the majority of 1 of 2 9/17/2009 10:04 PM
  • 2. Cars.com DealerADvantage Featured Story Online Measurement http://dealeradvantage.cars.com/da/2008/05/online-measurement-what-yo... Home Subscribe will My Reports your door Cars.commore about a vehicle, take a test drive or inquire about shoppers DealerCenter Become a to learn Dealer Join Us: DealerCenter View walk through Topic Archive to validate the information... financing. Because these walk-in customers dont identify themselves in most cases as an internet david commented on Welcome!: will check u out shopper, your lead management tool never knows they took the bait. How will you source the sale? on facebook.. i am on facebook and you tube A postsale survey administered in the F&I office is recommended to better understand the true also source of walk-in traffic. Getting a true source can be difficult, as even when asked, shoppers cant always clearly articulate what influenced their decision to visit the store. In most cases, it will be multiple sources. Event Calendar Engagement matters. Consider this: The average shopper on Cars.com spends approximately 60 Apr Jun seconds with a detailed vehicle listing page. That means your store and your inventory are the focal May 2008 point of attention with an in-market buyer for a full minute of active consideration. Online shoppers are actively engaged in the process, and most take the next step toward purchase without ever S M T W T F S picking up the phone or sending you an email. Despite the fact that online engagement and activity is often behind the sale, your lead management system wont ever give you details on engagement 1 2 3 levels, nor will it look for a correlation between recent online activities and sold vehicles. To better 4 5 6 7 8 9 10 understand the value of engagement and its impact on sales, look to your online providers for detailed reports on what customers are doing online, how often your vehicles appear in detailed 11 12 13 14 15 16 17 search results, and how many times buyers print your listings and directions to your store. Buyers dont always take a direct route to your website. A quick scan of the lead management 18 19 20 21 22 23 24 report in most dealerships will tell you that their own website was their No. 1 lead generator. It 25 26 27 28 29 30 31 makes perfect sense that this is the case. After all, most buyers visit the dealerships website as they approach the final stage of their shopping process and get closer to making a purchase. But to measure your campaign more effectively, consider what sources are driving traffic to your site. In Upcoming Events some cases, the path buyers take to your virtual store will be clear a transfer from a third-party September 17: listing, a search on a leading engine, etc. But in many cases, buyers will visit you directly. In these cases, its important to remember the cumulative effect of all of your marketing efforts that work to Dealer Workshop - Biloxi, MS drive this web traffic. Chances are good that many of the buyers who land on your site have already VIADA 49th Anniversary Convention & Expo - completed their online research with third-party sites. If youve stayed in their consideration set, Kingsport, TN odds are theyll visit your site as a next step before visiting the store and making a purchase. DealerADvantage Workshop Baltimore, MD Regardless of what you choose to track and what can be effectively measured, its clear that September 22: online advertising has proved its value beyond the leads that can be clearly demonstrated. DealerADvantage Workshop Williamsport, PA Isnt it time we turn our attention to the big-picture results? September 23: DealerADvantage Workshop Wilkes-Barre, PA Tagged as: Franchise, Independent, Reporting See All Upcoming Events | More You Had Already Rated This Post. Post ID #333. Share This Article Print This Article Responses are currently closed, but you can trackback from your own site. Highest Rated Articles Industry Links The Pillars of Internet Sales Process Automotive Digital Marketing Four Principles That Drive Peak Performance and Sales Results DealerRefresh Focus for Sales Success Driving Sales Management Attention, Direction Drives Internet Department Results J.D. Power and Associates Online Automotive Review Dealer Profile Kain Automotive Idea Exchange Shaun Kniffin, Germain Motor Co., Internet Sales Director Velocity Dealer Profile Ward's Dealer Dialogue Joe Shaw, Internet Director, Tom Ahl Automotive Group Dealer Profile David Metter, MileOne, Chief Marketing Officer Long-Term Internet Follow-Up Relevance and Timing Dealer Profile Nancy Stracione, Fred Beans Family of Dealerships, Internet Sales Director Online Measurement What Your Lead Management System Wont Tell You Demystifying Search Is it All Its Cracked Up to Be? Fumble the Line, Drop the Sale How to Avoid Common Sales Conversation Blunders 2009 Cars.com Division of Classified Ventures, LLC. All Rights Reserved. 175 West Jackson Blvd., Suite 800 Chicago, IL 60604 2 of 2 9/17/2009 10:04 PM