Archive for category Automotive Retail Management

Sometimes It’s Better To Cut Your Losses – Automotive Digital Marketing ProCom

Sometimes It’s Better To Cut Your Losses – Automotive Digital Marketing

Richard Holland writes: “Through the actions of this call center rep, and a customer with a recorder at hand, over 5 million people have now listened to this call.”

While it’s hard to believe that this is a typical experience, it only takes one extraordinary experience to make a huge difference. If that experience is good, wonderful things happen. If that experience is poor, there is always the chance that our always-connected world makes your business a celebrity – but not in the way you want to be known.

Great companies realize that great experiences can create more business for them.

They also know when it’s time to say goodbye to a customer who wants to leave. Providing a great customer experience is absolutely important to customer retention and loyalty. Smart business people also realize that providing a great customer experience for someone who doesn’t want to do business with you anymore can be just as important. That last impression can be vital.

How you say goodbye is just as important as how you say hello.

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Automotive Website Awards (AWA) Book is a Must Have for Car Dealers

The Automotive Website Awards (AWA) reception and celebratory event was held in conjunction with the 2014 NADA Convention in New Orleans.

Regardless of what anyone’s opinion is about the merits of the companies selected by Brian Pasch to receive the awards presented at this event, there is no other reference document, book, guide, website, Top Ten List or any other compilation of information regarding the companies that supply car dealers with eCommerce websites and associated peripherals that comes close to this book… As a reference tool used to see “Who’s Who” as an automotive supplier, the AWA Research Report for Car Dealers is without any competition… Neither is there anything out there that could serve as a reasonable substitute.

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So… With all that said, is this book worth the $50 cost to buy it from PCG Consulting? I have heard it said that actions speak louder than words. I purchased two of these books at the event in New Orleans and I paid full retail of $100. Every car dealer in America who considers Digital Marketing to be a core competency requirement for their business should order and retain this book… Every year.

If you are a Car Dealer then you need to invest the 50 bucks that this book sells for… The Automotive Website Awards #AWA2014 may not always pick the suppliers that I would have chosen, but the research done, which is published in this book, is the most comprehensive review of dealer website suppliers available from any source. Buy this book and review over 50 digital marketing suppliers who have their information listed, dealer customers cited and an assessment of their products and services shown. Learn more at http://ADMPC.com (photo taken at Automotive Media Partners, LLC)

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Edmunds Releases 2013 Car Shopping Trends Study – Automotive Marketing Professionals

Edmunds 2013 Car Shopping Trends Report

There are many dealers who have strong criticisms regarding Edmunds.com, but regardless of whether you consider Edmunds an asset or a liability to the retail auto industry there is little debate about their unique position within the vehicle buying process for many millions of automotive consumers…

The stark reality for car dealers seeking greater understanding of how car buyers shop online in 2013 is that Edmunds.com has the ability to paint a vivid portrait of today’s online car shopper… Which includes 9 out of 10 new and used vehicle buyers!

About 18 million visitors use the Edmunds.com site every month to shop for their next new or used car, and this gives the Edmunds team an unparalleled insight into the car buyer’s research and shopping process.  For as many years as I can remember, Edmunds has used the online automotive consumer activity to generate extensive research data and analysis to drive the sort of car buying insights that would establish itself as one of the more valuable resources for car companies and dealers to better understand car shopping and the way buyers use automotive information.  Historically, Edmunds has made the analysis and insights available to their business partners and to the public through academic inquiries and media requests.  However, Edmunds has not previously assembled together the complete volume of current time period data and the analysis and insights gleaned in one coherent piece.

By publishing and making available the 2013 Edmunds.com Car Shopping Trends Report, they have provided the auto industry and especially dealers and automotive marketers with a true gem of a document.  The report which ADM Professional Community members can download using the link at the bottom of this blog post, shows the results of extensive data mining within the Edmunds.com’s extensive database to reveal the most relevant car shopping and purchasing trends in America today.  These trends offer direct clues toward ways that the automotive industry can move forward by empowering a more engaging car shopping experience.

Throughout the 2013 Edmunds.com Car Shopping Trends Report, you’ll also find references to a 2011 survey conducted by “Added Value” on behalf of Edmunds.com that asked 2,476 online car shoppers representing the U.S. car shopper population to describe their expectations for their next car purchase.  Edmunds correlated these responses to real-world buying data to see if shopper expectations match reality. In preparing their analysis and conclusions, the Edmunds market research team found many striking consistencies between the two sets of market research data. These surprisingly strong correlations between the two reports suggest that car shoppers have a strong sense of the automotive marketplace and that they know how to set reasonable expectations around price, availability and product performance.


By evaluating this wealth of data provided by the Edmunds team, you will find a story about car shoppers that is often surprising and counter-intuitive to many dealers and automotive professionals.  While at other times, the Edmunds data reinforces critical theories held by car dealers, automotive sales professionals and throughout the auto industry. Some of the key findings in the 2013 Edmunds.com Car Shopping Trends Report include:

  • Two out of every three car shoppers consider themselves highly engaged in the car shopping process, and they turn to a variety of information to help them decide on a new or used car. Time spent on Edmunds.com is up 2 percent from 2011 to 2012. And the most-viewed elements by new car shoppers on Edmunds.com are reviews, pricing information and photos.
  • Mobile access is becoming a powerful tool for car buyers. Traffic to Edmunds.com’s mobile site spikes on the weekends – and especially on Saturdays – when the bulk of car buying takes place.
  • Shoppers are very good at anticipating how much they’ll pay for a new car. New car shoppers told us in 2011 that they plan to spend $30,500, on average, for their next vehicle. In fact the average transaction price for a new car the following year was $30,803.
  • The average age of a new car buyer is about four years older than the average age of a used car buyer.

  • Shoppers are turning to leases now more than ever. And the difference between the average monthly lease payment ($433) and the average monthly finance payment ($468) is greater than at any time since Edmunds.com started keeping records.

  • About 44 percent of all trade-in vehicles last year went toward a new car by the same brand, which is consistent with our 2011 survey that found that 49 percent of shoppers say they “plan to stick with a brand that has worked in the past.”
  • Luxury car owners and shoppers are buying and considering more nonluxury cars. The trend speaks to the improved quality of non-luxury vehicles.

  • Many shoppers say they want just the basics in a new car, but emotions can drive buyers to add options. New car buyers are willing to spend an average of $2,200 – or about seven percent – above base model and trim prices to add more options on their cars. 

The Edmunds.com’s 2013 Car Shopping Trends Report is intended to be a free resource for ADM Professional Community members who are interested in creating a better car buying experience. This is just the first in a series of reports that the Edmunds Research team hopes will shed more light on car shopping behavior.  The team intends these findings to open up a dialogue which will contribute to the ongoing improvements within the automotive retail industry. They also want to encourage ADM Professional Community members to contact Edmunds at any time to discuss more ways that Edmunds.com can help you better understand today’s car shopper.

Here is a link to download a PDF version of the Edmunds.com’s 2013 Car Shopping Trends Report: http://static.ed.edmunds-media.com/unversioned/img/industry-center/… 

Edmunds Points of Contact

For Dealer Inquiries: 855-EDMUNDS
For Press Inquiries: 310-309-4900

Source: http://www.edmunds.com/industry-center/car-shopping-trends/

Edmunds Annual New Vehicle Sales Forecast for 2013 and Historical Actual Sales:

via Edmunds 2013 Car Shopping Trends Report – Automotive Digital Marketing Professional Community.

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Competitive Advantage: Professional Networking for Car Dealers

Competitive Advantage: Professional Networking for Car Dealers

Professional Networking as a Competitive Advantage for Car Dealers

About a month ago I had the honor and privilege of speaking at the Automotive Leadership Roundtable in Miami Beach, Florida. As each of the previous ALR events have been, the venue was superb and the dealers who attended were among the nation’s most successful and each of them true leaders within our industry.  

One of my favorite General Managers, Mr.Richard Bustillo of Rick Case Honda was a featured speaker at this year’s Automotive Leadership Roundtable and tells me that one of the most productive uses of his time is the contacts and networking connections he makes at this premier industry event.

“April 11, 2013 — DAVIE, Florida – Richard Bustillo, General Manager of Rick Case Honda, the World’s Largest Full Line Honda Dealership, will be leading a panel discussion at the Automotive Leadership Roundtable (ALR) on Monday, April 15, 2013, at the Fontainebleau in Miami Beach, Florida. This is the second consecutive year Mr. Bustillo was selected to speak at ALR, an annual conference of leading automotive management executives.”

Another more recently acquired friend of mine who is a dealer, Neil Amaral had accepted my nomination to attend the ALR event as one of the top independent car dealers in America. His “Amaral Auto Sales” dealership in New Jersey puts many franchised points to shame in all measurements of dealership operating criteria, including units sold, customer satisfaction and retention.. During and shortly after the ALR event, Neil opened my eyes up to an opportunity for car dealers that translates into sales and profits which I am sure too many dealers fail to take advantage of… The power or networking in the Auto Industry.  

Although I am going to use an example specific to Amaral Motors, it is merely one of many examples I have witnessed or participated in over the years… Profiting from a network of professional contacts.  Previous to this year’s ALR event I had several conversations with Mike Timmons and Ken Potter at TrueCar regarding a Used Car Affinity Sales Program for TrueCar dealers.While at ALR I took the opportunity to Introduce Neil Amaral to both Mike and Ken from TrueCar. Before the end of the event, they had worked out a deal for Amaral Motors to be an exclusive TrueCar Used Vehicle Center for their area of New Jersey.  As Neil pointed out when he thanked me, had he not listened to my description of the ALR event and trusted me as part of his professional network, he would not have secured his deal for the TrueCar Used Car Program at Amaral Motors.

As difficult as it may seem at first glance to be able to predict such “six degrees of separation” type of connections, it is actually a lot simpler than most dealers realize. Let me explain, because of social and professional networks online, today’s automotive professional and his or her networks of business connections are more readily available and visible than ever before.  Take a look at my profile onLinkedIn.com/in/RPaglia and you will see that there are over 200 auto industry professionals who have written recommendations of some sort… It does not take a clairvoyant to predict the potential for referrals and introductions.

Neil Amaral is a lot like several very successful dealers and General Managers I have known over the years, he sees the opportunity to leverage relationships for the benefit of his dealership’s marketing, sales and operational efficiencies, then focuses on developing those relationships.  In many cases, the dealers who are the most effective at getting more value than other dealers spending similar amounts of money on the same auto industry suppliers are the ones who focus on their relationships with key people working or running those supplier companies and business, while creating the desire within that supplier organization to deliver above and beyond what the dealership is actually paying for.

This begs the question… Do the dealers who focus on developing relationships with key marketing resources, thought leaders and suppliers get more for their dollar than the dealers who maintain arm’s length relationships and focus on negotiating price points? Do dealers who belong to online networks and professional communities such as the Automotive Digital Marketing Professional Community establish relationship networks on a more efficient basis than those dealers who do not become active members of such networks?


There are many professional managers who believe in the “Purchasing Department” approach of grinding for the lowest cost deal… But it appears that in recent years there are also a growing number of highly successful dealers who have become advanced “relationship management practitioners” from the marketing supply side perspective…  

…Are you one of those dealers?

 

via Automotive Digital Marketing Professional Community.

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Should Managed Chat Be Part of a Lead Acquisition Budget?

Should Managed Chat Be Part of a Lead Acquisition Budget?

 

Lead Acquisition Budget: Are Managed Chat Service Providers A Lead Source?

I was speaking with an Internet Sales Manager a few days ago and we were discussing the budget she managed for purchasing leads from the traditional 3rd party lead providers such as Dealix, Autobytel, Automotive.com, CarsDirect, etc. The question arose as to which lead providers should be considered reasonably eligible for allocation from a budget category earmarked for acquiring sales leads. It was interesting to me that she seemed to consider AutoTrader.com to be a lead provider, when in fact, AutoTrader has never sold leads, nor will they acknowledge being in the lead selling business… AutoTrader has staked their business model around being an advertising channel whose media is focused on showcasing a dealer’s inventory. So, why do some people incorrectly list AutoTrader as a lead source?

 

The simple answer is that most of us will evaluate our results from AutoTrader based on the number of sales opportunities generated (Leads). Just because that is not what AutoTrader is selling, does not mean that leads are not what we endeavor to buy when we cut a big check each month to ATC.  This raises a few questions about Lead Acquisition budgets for car dealerships… When is a supplier considered eligible to being allocated budget from an Internet Manager, or Marketing Director managed lead acquisition budget? Which types of suppliers should be considered?

  

If there is one category of supplier that has created a whole new source of leads that did not exist ten years ago, it is the services offered by managed chat application providers.  These “Chat” apps can be placed on a dealer’s website, as an email link, on a dealer’s various blog sites and microsites, even in some cases on a dealer’s Facebook Page as well as other social media channels.  In almost every case, suppliers such as Contact At Once, ActiveEngage and CarChat24 will be evaluated based on the number of leads they generate for the dealership as a percentage of total chat sessions and unique visitors to the dealer’s websites, microsites, social media channels and emails opened.  The big difference between advertising channels such as AutoTrader.com and Cars.com, and the major Managed Chat Service providers is that AutoTrader/Cars.com et al has never embraced the leads generated model as their value proposition, yet the Managed Chat Service providers have… So, why would we consider AutoTrader/Cars.com a lead source, and not put the Chat providers in that category of expense?

  

While preparing this article I contacted Shereef Moawad [shereef@carchat24.com] at CarChat24 and asked him for some aggregated performance metrics around Managed Chat Service as a lead generation model. There are two reasons I reached out to CarChat24; the first is that they are the only Managed Chat Service provider that I know of which has worked for dealers on a performance based fee structure that used quantity of leads generated to determine the dealer’s cost for their software and services. The second reason is that CarChat24 has been a sponsor of the ADM Professional Community for longer than any other company, and I am very comfortable with their professional competence, business integrity and the objective validity of their data. Besides that, the company is run by a couple of US Marines (retired) with a remarkably clear focus on exactly what their mission is and the execution of tasks required to deliver measurable results.  

  

Shereef provided me with the following aggregated performance metrics and ratio analysis based on a randomly generated sample of 100 dealers and data collected over a six month time period:

100 CarChat24 Performance Plan Dealers – 6 months of aggregated data

Monthly Dealer Cost Range:

  • Highest Average Monthly Payment for Leads = $2,840.00
  • Lowest Average Monthly Payment for Leads = $85.00

Monthly Average Total Cost for Chat Generated Sales Leads = $489.92

Monthly Average Quantity of Chat Generated Sales Leads per Dealer = 32    
(Note: doesn’t include free service, parts, and query leads)

Monthly Average Cost per Lead = $15.31

 

Taking a look at the above numbers, it is easy to extrapolate comparisons with traditional third party lead providers from a cost/benefit perspective… Since the leads a Managed Chat Service Provider generates are not only exclusive, they are also coming from visitors to the dealer’s various websites and online assets. This means it is reasonable to say they should provide the dealership’s sales team with a higher closing rate than 3rd party leads which are usually being sold to multiple dealerships, and being churned to generate additional leads from the same customers. If the dealer is able to close these exclusive first party Managed Chat generated leads at a 10% average rate, then the resulting cost per sale, based on a $15.31 average cost per lead  is $153.10 Per Vehicle Retailed (PVR).  This is considerably less than the NADA average advertising cost per vehicle retailed (PVR of more that $600.00

 

Of course, we also had to invest advertising in getting traffic to the sites where the managed chat services are provided, but from a pure cost per lead perspective, the use of Managed Chat Services as a lead source looks very viable and fiscally prudent.  

  

It is worth noting how the average cost per lead came in at $15.31 for a performance based model that uses leads generated to invoice the dealership. Here is how that works… CarChat24 uses a variable cost per lead depending on the characteristics of the lead. This is based on the concept that certain lead types have more value to a car dealer.  In the case of CarChat24, the lead types and costs are:

  • Email Leads @ $10.00 each
  • Phone Leads @ $20.00 each (they usually get an email address as well)
  • VIP Appointment Leads @ $25.00 each (they usually get email and phone number, requires a set date and time to be at the dealership)

 

The average cost of $15.31 for the 100 dealers in our aggregate is the result of the following lead type averages:

  • 62% of Leads generated were phone leads
  • 31% of Leads generated were email leads
  • 7% of Leads generated were VIP Appointments.

 

When analyzing lead generation, there are always questions about whether or not these leads are “incremental” and do they come at the expense of other forms these very same customers would have used to contact a dealership if the chat service was not provided.  In almost every case, research and marketing studies have found that leads generated via Managed Chat Applications on websites are indeed incrementally additional leads.  In other words, the leads provided by Managed Chat Services do not come at the expense of the original website’s form fill conversion… They are a net gain in overall volume of leads the site is generating… It is safe to say that Managed Chat increases every web site’s overall visitor-to-lead conversion rate.

 

When the facts are considered and a performance based model is available, it is difficult NOT to justify allocating lead acquisition budget for Managed Chat Service Providers as a valid lead source. If you examine the logic in a little deeper detail, there is a strong case to be made that Managed Chat Services are NOT advertising and are in fact a lead generation source. You could even say that one of the outcomes from a dealership’s advertising should be increased chat sessions handled by your chat service provider, along with an uptick in leads generated.  So, consider allocating a portion of your lead generation budget to a Managed Chat Service provider… It makes sense and will help you generate more dollars of profit for your dealership by providing additional lead volume from the most valuable type of leads you can get… Exclusive First Party Leads!  

 

 

via Automotive Digital Marketing Professional Community.

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CRM Triggered Personalized Customer Emails Outperform Bulk Email Campaigns for Car Dealers

CRM Triggered Personalized Customer Emails Outperform Bulk Email Campaigns for Car Dealers

 

Personalized Promotional Offers and Event/Time CRM Triggered Emails Seen Delivering Stronger Results than Mass Email Campaigns for Car Dealers and Automotive Marketers

The results stand in apparent contrast to study findings from MailerMailer last year. That study found that emails with the subject line personalized had lower open and click rates than those without personalization. The difference could be attributable to the sample set analyzed. The MailerMailer study took a broad view, looking at opt-in emails as a whole, while the Experian study analyzed promotional and triggered emails only.

I have seen where time spent detailing out the email templates that are triggered by lead status changes in a dealership CRM system creates a highly effective sales and marketing automation strategy. In my own personal experience, the many hours invested in creating custom email templates that are specific for such CRM activities as leaving a voice mail, trade-in estimate, payment quotes, changes in program interest rates for the specific vehicle the customer is interested in, or sending a price quote will pay off with a robust ROI. Customers receive a steady stream of personalized messages that are triggered by an event or timing that is predetermined and logically expected by the customer… When done properly, these automated highly personalized CRM triggered emails will elicit a thank you from customers for the diligence a salesperson has exercised in staying in contact with them. Quite simply, there are few other sales automation systems appropriate for car dealerships with as positive a result as robustly customized CRM implementations.

   

For CRM system triggered emails, those with the subject line personalized had an average open rate of 29.2%, about 25% higher than the rate for those broadcast email campaigns without personalization (23.3%).

  

As for unique click rates, personalized emails outperformed their counterparts for both promotional emails (3.2% vs. 2.3%) and triggered emails (6.7% vs. 4.4%).

   

The Experian study also finds personalization providing a significant lift in transaction rates and revenue per email:

  • For broadcast type promotional mailings, transaction rates were 7 times higher (0.35% vs. 0.05%), while for CRM triggered mailings, they were more than twice as large (0.62% vs. 0.25%)
  • For promotional mailings, revenue per email was more than 6 times higher ($0.26 vs. $0.04), and for triggered messages, they were 63% higher ($0.31 vs. $0.19).

Source 1: MarketingCharts.com/personalized-promotional-and-triggered-emails-s…

Dealer-to-Customer Emails:
Data Shows Longer Subject Lines Get More Clicks

These emails have a CTOR 94.7% above the average (and click and open rates 276.4% and 93.2% above-average, respectively). B2B emails show a similar trend, though not quite as clear cut. Emails with subject line length of 20 characters performed above-average for all 3 metrics, though the rates generally dipped after that until recovering from 90 characters in length and up. The peak for open rate was 20 characters (24.6% above-average), while the peak for click rate was for 140 characters (82.7% above-average) and for CTOR was also 140 characters (72% above-average).

E-commerce Emails Show Mixed Trends

Data from Adestra’s subject line study indicates that when it comes to the e-commerce sector, the results are fairly mixed. Subject lines 110 characters in length performed best for open rates (122.4% above-average), but those 70-characters-long did best for click rates (91.1% above-average), while those with 30 characters achieved the best CTOR (17.4% above-average), despite the latter having below-average open and click rates. Overall, subject lines with 70 characters appeared to do the best, with above-average performance in each metric.
  

For the events sector, short subject lines (20-30 characters) got the highest open rates, while longer subject lines (120-150 characters) got the best click rates and CTOR. Publishing emails displayed the same pattern as events emails, though for charity emails, short subject lines had the highest open, click, and click-to-open rates.
  

Overall, across the 6 sectors studied, despite an open rate peak for emails with 20 characters, longer subject lines (100+ characters) appeared to deliver better open, click, and click-to-open rates. This compares with recent studies from MailerMailer and Informz, which found shorter subject lines to clearly have the best open rates, though with mixed results for click rates.
  

Word Count Results Similar

Further results from the Adestra show that word count length has a similar effect to that of character count, but is amplified. Email subject lines that are a single word have a spike in open, click, and click-to-open rates relative to the average, though all metrics dip in response rates alongside increasing word length, until 15 words and longer, when they begin to rise and hit new peaks.
  

Looking at the results by sector, some interesting patterns emerge. For e-commerce emails, 1-word subject lines had the highest open rate, but 4-word lines had the best highest CTOR relative to the average. For events emails, shorter word counts (2-5) delivered the best open rates relative to the average, but longer word counts (19 and up) delivered both the best click and click-to-open rates relative to the average.
   

For the publishing sector, the results were clearer: longer subject lines delivered generally higher-than-average open, click, and click-to-open rates, aside from a spike at 2 words. For the charity sector, short subject lines did well for open and click rates, and longer counts (14 words and up) performed worst for click-to-open rates.
  

In the B2B and B2C sectors, open, click, and click-to-open rates were generally better for longer word counts, though 2-word subject lines performed best overall in the B2B sector.

“Coupon” Fares Worst Among Offer Terms

Notably, the study finds that for the e-commerce sector, the word “coupon” has open rates that are 55.6% below the average for offers emails, with click rates also 85.8% below-average and CTOR 68.1% below-average. This appears to be in direct contradiction to results from an Epsilon study also released in July, which found that the keyword “coupon” was tops for email opens. However, that study only measured the 2011 holiday season, which may explain the discrepancy in results.

  

According to Adestra, the words “sale” and “% off” performed best in click rates and CTOR relative to the average for offer emails, and also perform among the best for open rates.

   

Other Findings:

  • For the events sector, using currency (particularly $ signs), first names, “thousands,” or “millions” can have an uplift for all 3 metrics.
       
  • For the publishing sector, “video” and “exclusive” perform very well relative to the average, while the terms “newsletter,” “research”, “report,” “forecast,” and “intelligence,” all perform significantly below-average.
       
  • For the charity sector, the words “appeal” and “donate” fare poorly compared to the average, while “give” has above-average results.
       
  • For the B2B sector, currency symbols, as well as words such as “profit,” “revenue,” “turnover,” and “referral” perform markedly above-average, while the term “B2B” shows very poor response rates.
       
  • For the B2C sector, “sale,” “% off,” “video,” “exclusive,” and “new” perform best, while “coupon,” “half price,” “free,” and currency symbols are below-average.
       
  • According to a July 2012 report [pdf] from Experian, including the word “exclusive” in the subject line can provide a lift of 14% in promotion mailings (15.9% with vs. 14% without). Similarly, subject lines including “top 10″ or “top 5″ deliver open rates 13% higher than promotional emails without them (16.1% vs. 14.3%).
        
  • Also per the Experian findings, emails asking customers to rate and review purchased items generate 2 times higher open rates, 39% higher click rates, 22% higher transaction rates, and 32% higher revenue per email.

About the Data: The Adestra study campaigns had more than 5,000 recipients per campaign, but were not limited to large campaigns. The study was conducted across the client basis without regard to list size.

 

via  Automotive Digital Marketing Professional Community.

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Online Car Selling Checklist for Automotive Marketing

Online Car Selling Checklist for Automotive Marketing Professionals

 

Online Car Selling Checklist

Can a computer sell a car?

While much of the online car selling process is automated these days, the answer is still no. To successfully sell a car online, there are a few essential points that auto dealers and individual sellers need to remember. Mere hours of work, invested by a few people, can dramatically improve your vehicle sales online.

Before you post your vehicles on the internet, double-check Strathcom’s Online Car Selling Checklist:

1. Do you have great descriptions to hook your reader?

When you’re selling online, you need to engage your reader the same way an author does, in the first paragraph. Do you have detailed, complete vehicle descriptions? If not, don’t expect to sell cars.

*Pictures and descriptions can lower a bounce rate by up to 60% (Bounce rate is the percentage of people  that leave your site without clicking through to another page)

Tips:

  • Be descriptive — “soft, heated leather upholstery” sounds better than just “heated seats.”
  • Use safe terminology — avoid words like “mint” or “new.” A car isn’t new if it’s three years old. Rather, use ambiguous or interpretive terminology like “very clean,” which won’t cause problems down the road.
  • Use words people relate to — “well maintained,” “local,” and “accident–free” are examples.
  • Paint a picture — help readers picture a car in their minds. A good description for a convertible: “This cabriolet turns heads cruising in the sun.”
  • Tailor descriptions — is it summer? Then describe the efficient A/C system. Winter? Mention the vehicle has a car starter and heated seats.
  • Instil confidence in the reader — use words like unique, rare find, great find, very successful, award winning, economical, powerful, safe, beautiful, stunning, eye catching, head turning, best-selling, etc. Customers want to know they’re making a great buy.
  • “What’s in it for me?” — Highlight the benefits of each element you are describing to your customer. Don’t just say “has silicone wiper blades,” but rather add “Silicone wiper blades last three times longer and perform better than ordinary rubber blades. They offer resistance to fuels, oils, acid rain, washer fluid and road grime.”

The industry is changing. Things like “Tilt” and “ABS” are no longer selling features. People now want to know the MPG or L/100km they will get on a tank of gas. Honesty is important too; if a vehicle has high kilometers, admit it — but focus on its spotless service record.

Bottom line: writing good descriptions will increase the amount you get paid for your vehicles.

2. Have you posted pricing for all of your vehicles?

While some dealers feel that more people will call if there is no price, this is never the case. You should at the very minimum post a MSRP for new vehicles and make it easy for a consumer to submit a lead for more information. Pricing should always be posted for used vehicles — no exception.

3. Are your descriptions legible?

Ensure that your listings have proper spelling, grammar and easy-to-read fonts. Avoid wild colours, OVER-CAPITALIZATION (AKA “caps lock syndrome”), and fancy fonts as these elements will not give you more attention, but rather annoy the reader.

*Car buyers now physically visit only 1.3 dealerships before buying. Don’t give them a reason to go to the competition

   

4. Are you consistent across all postings?

Complete descriptions, detailed photos, proper prices — all of the elements that make a good vehicle posting need to be applied across the board on your listings to capitalize on return traffic. Consumers will research for 3-6 months before making a purchase, meaning they will return to your site multiple times; you should convey the correct brand message on each visit.

5. Do you have photos for all of your vehicles?

Having good vehicle photos should be common sense; customers want to see a car before they buy it. Do you have pictures for all of your vehicles? Do you have them online as soon as a car hits the lot? You should, or you could be losing sales to the competition.

*According to Kijiji, ads with pictures were twice as likely to get a reply than those without

Tips:

  • Highlight selling features — focus on what matters to your buyer. Selling a minivan? Focus on interior and safety.
  • Timeliness is extremely important — get pictures online within 48 hours of the unit arriving.
  • Include a variety of photos — give your customers an online walk-around of the vehicle.
  • Take Interior & Exterior Photos — get every angle: under the hood, the dashboard, seats (front and rear) and the exterior.

Side-by-side, which looks more appealing: no-name pop, or Coke? Which would you pay more for? Having vehicle photos is like branding. It makes customers more confident in your product, and increases sales while allowing you to ask more for a vehicle.

The principles are the same online as they have always been offline. If someone came in to buy a Cadillac Escalade, you wouldn’t bring up gas mileage. The point is to tailor your photos and descriptions to each vehicle. This is the best way to build quality leads that will make you a lot more money.

– Michael Fisher with Stuart Bendall and Trish Rowsell

 

 

via Online Car Selling Checklist – Automotive Digital Marketing Professional Community.

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Do New Car Photos Really Make a Difference from Stock Photos? – Automotive Marketing Professionals

Do New Car Photos Really Make a Difference from Stock Photos?

ADM Forum Question Posted by Kim Essenmacher

I have to ask this question because each seminar, webinar and research study that I have read is stating this to be the case. It increases VDP’s, time on the site and in turn increases sales.  Here is a study from KBB:

Shoppers Want Actual New Vehicle Photos, Not Stock Photography on Dealer Web Sites

According to a new study conducted by Kelley Blue Book Marketing Research among in-market car buyers, 90 percent of vehicle shoppers would prefer to view actual photos of new vehicles currently on the dealer’s lot than view stock photography of a vehicle they are interested in buying.

When it comes to purchasing a used vehicle, viewing photos of the exact vehicle, its options, condition and mileage help a potential buyer make a purchase decision. But, when it comes to buying a new vehicle, in-market shoppers say they want to have that same luxury; seeing photos of the exact vehicle on a dealer’s lot before driving to the dealership. Today, most dealerships use stock photography of new vehicles provided by the manufacturer to showcase current model-year vehicles.

Recent market research shows nearly 70 percent of today’s new vehicle shoppers are turning to the Internet for new vehicle research. Nearly half of these shoppers visit at least one dealership Web site during the research process, making the information found on the dealer’s Web site crucial in garnering a new customer. In fact, 74 percent of vehicle shoppers say they are more likely to visit a dealership if they are able to view a picture of an actual vehicle currently available on the lot, rather than stock photography. What’s more, 53 percent would be more likely to buy that particular vehicle from a dealership offering actual photos of in-stock vehicles.

CDMdata Inc., a Kelley Blue Book Company, offers products and services that aid dealers in easily marketing both their new and used vehicles online with photos. CDMdata’s DigitalLot® Solution is a device that collects vehicle information by scanning the VIN, takes multiple photos of the actual vehicle and then uploads all of the information to the dealer’s Web site (and up to 150 retail Web sites) with the simple push of a button. The DigitalLot Solution can take up to 32 photos of each vehicle, and the in-depth VIN explosion allows consumers to instantly and accurately view all of the detailed information about their prospective new or used vehicle. For dealers who prefer to have someone else doing the book-in work, CDM Dealer Services provides a company representative to come to the dealer’s lot to upload the information and photography for them.

“The online automotive shopping and buying process must continue to evolve, and the DigitalLot Solution is a critical tool to help dealers improve their relationships and build more trust with online shoppers,” said Mike Romano, chief operating officer for CDMdata, Inc. and vice president of dealer strategy for Kelley Blue Book. “Whether using the solution for new or used vehicles, the DigitalLot quickly and easily automates the process of uploading dealers’ online inventory, allowing them to ultimately sell more cars faster.”

About Kelley Blue Book (kbb.com)

Kelley Blue Book’s kbb.com is America’s most used and trusted vehicle pricing, values and information resource. The top-rated Web site provides the most up-to-date pricing and values for thousands of new and used vehicles, including the New Car Blue Book® Value, which reveals what people actually are paying for new cars. Since 1926, car buyers and sellers have relied upon Kelley Blue Book for authoritative and unbiased information to make well-informed automotive decisions. The company also reports vehicle prices and values via products and services, including the famous Blue Book® Official Guide and software products. Kbb.com has been rated the No. 1 automotive information site by Nielsen//NetRatings and the most visited auto site by J.D. Power and Associates eight years in a row. No other medium reaches more in-market vehicle shoppers than kbb.com; nearly one in every three American car buyers perform their research on kbb.com.

SOURCE: Kelley Blue Book

CONTACT: Robyn Eckard, +1-949-268-3049, reckard@kbb.com, or Joanna
McNally, +1-949-268-3079, jmcnally@kbb.com, both of Kelley Blue Book

Web site: http://www.kbb.com/

 

However, the largest dealer group in our state doesn’t use custom photos. My GM is afraid that if customers see new car photos that the customer won’t think that they can custom order a vehicle and we will lose sales!

I told my GM if he is worried about losing custom photos, we could put in the comments “Call if you don’t see what you are looking for?”

Also, how do we know that new car photos wouldn’t help increase the largest dealer group’s sales?

 

I am still trying to figure out which is the best way to go?

Any thoughts and additional research is appreciated.

************************************************************

Ralph Paglia Replies to Forum Question Posted by Kim Essenmacher: 

this is a similar question to “should we put our inventory online”, which was quite the debate up until about ten years ago… There is no question about the effectiveness of actual vehicle photos versus stock images. all the research shows anywhere from double to 4 times the lead volume on inventory with photos versus stock images when half the inventory has one and the other half is the other.

Honestly, this is one of those irritating issues that is a qualified for me on whether or not I want to work with a dealer or group… If they have not yet progressed to the point where the acknowledge that actual vehicle photos work better than stock catalog images, then they probably haven’t switched to broadband from dial-up yet.

Now, with that said there are alwys the economic considerations… let me explain. If you sell a brand of new vehicles where demand dramatically outstrips supply and your biggest problem is how much to mark up new vehicles above MSRP, then do not bother incurring the expense of taking inventory photos. heck, for that matter, save electricity and don’t turn on the lot lights at night!

I have done the “actual vehicle photos” comparison at several stores. This is where we run a 3 month test by taking actual photos of all new vehicels that have a stock number ending in an even digit and do not take photos for new vehicles with stock numbers that end in odd digits.  Having done this “test” at at least 6 dealerships over time, rarely do we get to the end because the cars with actual photos get all the leads and phone calls.  Then, when people start showing up on the showroom with the VDP printed out and in their hands, the whole thing turns into a big joke… Sort of “No shit Sherlock” actuial photos work better than catalog images… Again, the only debate os about the expense and the work flow.

Actual photos of new vehicles make almost as big a difference in lead volume as they do for used cars… Ever try advertising used cars with stock photos? It rates a Twitter “EpicFail hash tag.

Real photos generate more leads than catalog images. Can you tell which one of the following images is real… and which one is Memorex?

The new 2013 Chevrolet Avalanche LT Black Diamond and 2013 Chevrolet Avalanche LT Black Diamond inventory images above are from the same dealership and for two different vehicles of exact same model and trim… Also, consider that “Real videos” generate more leads than “Real Photos” alone… Real Photos generate more leads than “Stock Images”… get the drift?

However, before incurring the expense of implementing real photos of new vehcile inventory, there is a genuinely valid question that should be sincerely and realistically answered first: “Does your sales department effectively convert leads into showroom visits and sales?” Because, if the dealership is deficient in handling customer inquiries, and does a poor job of converting leads into sales, and/or does a poor job of converting traffic to the showroom into sales… Then don’t waste time and money on inventory photos. You have more serious problems to deal with.

via Automotive Digital Marketing Professional Community

Deutsch: Audi Autohaus in Dresden

Deutsch: Audi Autohaus in Dresden (Photo credit: Wikipedia)

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Schedule an ELEAD1ONE Demo at NADA 2013 in Orlando – Proud Sponsor of the ADM Professional Community

Schedule an ELEAD1ONE Demo at NADA 2013 in Orlando – Proud Sponsor of the ADM Professional Community

 

Going to NADA 2013? Schedule an ELEAD1ONE Demo Today!

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ELEAD CRM – Automotive CRM


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 ELEAD Digital – Digital Marketing


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ELEAD Digital provides dealers a more cost effective and results-driven approach to monitor web presence, marketing efforts and social media.  The ELEAD1ONE full function websites and digital strategies produce much higher lead and conversation rates.  Visit our website for more information on ELEAD Digital.

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via Automotive Digital Marketing Professional Community

 

NADA Convention 2011 in San Francisco
NADA Convention 2011 in San Francisco (Photo credit: DigitalRalph)
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Dataium Automotive Shopper Intensity Report – January 2013

Dataium Automotive Shopper Intensity Report – January 2013

The automotive marketing research firm Dataium has released their 2013 Automotive Shopper Intensity Report which has become a respected and widely regarded accurate predictor of new vehicle demand in North America.

Each of the charts shown below are posted in the form of a PNG image that I created from the PDF version of the report. You can click on to open a browser window showing the full resolution for viewing and download. I have also included the PDF version of this report excerpt for file download by ADM Professional Community Members at the bottom… The following text, charts and tables are excerpts from the full report, which is available from Dataium for a fee by request. To request complete access to Dataium’s ASI predictive modeling tool on future consumer demand by make, model, trim level, segment, region, and market, contact Dataium at www.dataium.com/contact, or call 877-896-DATA (3282).

 

January 2013 Dataium Automotive Shopper Intensity Report
The Dataium Automotive Shopper Intensity Index (ASI) is a leading indicator of Automotive Retail Sales. We show that Automotive Retail Sales closely mirror the fluctuations of the ASI. This index serves as an early predictor of the next 30 – 45 days of automotive retail sales.

The index was relatively flat in December, up by a mere 0.39%, indicating a slowdown in January. Based on this, Dataium forecasts the US Retail SAAR in January to be 12.2 million retail units.

Eric Brown, CEO of Dataium noted;

“It wasn’t a fiscal cliff but the market did slow.” He added “However, the mitigation is consistent with past holiday incentives and clearance sales hangovers.”

With regards to makes, Toyota continues to outperform both the domestic and import brands alike, with three models: the Camry, Tacoma and Tundra included in the top ten new vehicle ranking for three straight months. However, overall intensity around the brand has gradually declined, with each model dropping a spot or two in the ASI ranking since November.

For a second straight month, shopping intensity for mid-size sedans remained high, with three models within the segment ranking highest in ASI for new vehicles. The report identifies intensifying interest for the Honda Accord, which rose from 9th place in December, to rank highest in new vehicle ASI this month. However, the Accord faces strong competition in the New Year from the Hyundai Sonata, which, for the second month in a row, exhibited one of the largest month over month increases in its segment, and ranked second in ASI for new vehicles.

A notable entry to the top ten ASI new vehicle ranking was the popular compact sedan from Hyundai, the Elantra. For the past two months, the Elantra has outperformed much of the competition in the compact segment in terms of shopping intensity. The ASI report also indicates that despite a slight bump in shopper interest owing to a recent redesign, the Nissan Sentra still trails other compacts within the segment.

Download the PDF version of this Dataium report extract by right-clicking on the following link, then selecting “Save As”: 

Dataium ASI Report January 2013

via Automotive Digital Marketing Professional Community

#whiteparty in #miami can I get a #boom via mi...

#whiteparty in #miami can I get a #boom via micah_birkholz

 

 

 

 

 

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