jim flint – moneyball for car dealers
DESCRIPTION
Jim Flint is a well-known and respected visionary in the automotive industry. Fueled by his passion for innovative new media, Jim helps his clients reach their business goals and achieve unprecedented success by executing effective digital marketing strategies.TRANSCRIPT
Moneyball for Dealerships
Presented by Jim FlintPresident and Founder, Local Search Group
Page: 38
How to Moneyball Your Advertising Strategy
November 13, 2013
Jim FlintPresident & FounderLocal Search Group
[email protected]/jimflintwww.twitter.com/jimflint12
TODAY’S PRESENTER
After the presentation, be the first to answer the giveaway question correctly to win this awesome prize!
PRIZE ALERT
Prioritize Advertising Spend
Understand Moneyball Factor for ROI
Spend 5 minutes a month to avoid ABT
Question & Answer Session
TODAY’S OBJECTIVES
6
How to Moneyball Your Advertising Strategy
Jim FlintPresident & Founder
@jimflint12
6
Huge Assumptions1. YOURS: Goal of advertising? Drive people to my website
2. YOURS: Sales tracking starts with my website
3. MINE: I can show you the opportunities
Updated Purchase Funnel SQUEEZED IN THE
MIDDLE
• Every customer is an Internet customer
• Consumers are more wary than ever to submit leads
• Sales are a f(x) of website visitors and vehicle display pages
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2002 was Great. . . So Now What?
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$114,457,768 $39,722,689
vs.
10 Years Later - Standings
$629k / Win
$55,372,500
$197,962,289
$2.2m / Win $2.1 Million Per Win
vs.
$589 Thousand Per Win
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Moneyball Lineup
Avg. Dealer Inventory
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http://info.localsearchgroup.com/moneyball
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QUESTIONS
How to Avoid the Automotive Bermuda Triangle
Avg. Dealer Inventory
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Don’t Throw Money Into the Ocean
Avg. Dealer Inventory
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Personnel
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20 sales people selling 10 cars per month = 200 sales
• Motivated sales people
• Expect 10 cars sold per month
Inventory
Avg. Dealer Inventory
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What is your inventory turn rate?
60 day Supply and 400 New and Used Cars on the Ground=
200 Sales
Uncharted Waters
Avg. Dealer Inventory
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Website Visitors
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What is your average closing ratio of internet Visitora?
10,000 website visitors that drive a 2% closing ratio= 200 sales
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QUESTIONS
Moneyball = InEfficient Markets
Avg. Dealer Inventory
• Google Enhanced Campaigns
• Vehicle Display Pages
• Pre-Roll Video
• Facebook w/ RL Polk
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July 22: Enhanced Campaigns
• Location: Increase your name bids around your competitor’s dealership by 900% = by distance
• Mobile: Increase your mobile phone bids by up to 300% = by device
• Time: Increase your Sunday afternoon bids by 900% = by day part
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Showrooming
Avg. Dealer Inventory
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We Know VDPs
Actual VDP results from a Local Search Group client in June
2013!
Vehicle Display Pages
http://www.localsearchgroup.com/how-to-set-up-vehicle-display-pages/
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Facebook Does Sell Cars
Avg. Dealer Inventory
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Facebook Does Sell Cars
Avg. Dealer Inventory
Featured in Facebook Case
Study!
Facebook Does Sell Cars
Avg. Dealer Inventory
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Reach: 8,685Impressions: 519,077 Clicks: 119Cost-Per-Click: $1.19
6 WEEK LEAD CAMPAIGN RESULTS: • 29 leads submitted
• Strategic communication with sales staff; 70% responsive rate
• 7 sold vehicles
• A closing ratio of 33%
Narrowcasting on Facebook
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Lose the Battle, Win the WarTarget local consumers who had
purchased a vehicle in the last 36 months. These ads linked to a landing
page where consumers could download oil change coupon.
Unique Users Reached: 163,174Impressions: 247,550
Total Clicks: 48 Average CPC: $1.27
Twitter Sells Cars Too!
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Pre-Roll Ads
Avg. Dealer Inventory
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IN A RECENT COMSCORE STUDY, AMERICANS VIEWED MORE THAN 11 BILLION VIDEO ADS IN JUNE, WHICH ACCOUNTS FOR ¼ OF ALL VIDEOS WATCHED ONLINE.
• Video SEO with YouTube
• No charge when viewer clicks on ad
• Retargeting to those who click
BENEFITS OF PRE-ROLL VIDEO:
Moneyball Factor Highly Correlated to Net
Avoid the Automotive Bermuda Triangle
Gain Control of Your Advertising Budget
Drive Results with 5 Minutes a Month
TAKE AWAYS
Be the first to answer the giveaway question correctly to win this awesome prize!
PRIZE ALERT