Automotive attribution, do you take the blue pill or the red pill?
This scene from the Matrix stands out the most for me when we discuss automotive attribution. We ask ourselves what it is we really want to know. The fact is most dealers have their digital set, 3rd party lead providers, SEO and keywords ready to go. If your site and team are better than the industry, then you are converting 3% or higher of unique traffic to your site into actionable leads.
I love the words "actionable" and "attribution" but when you put both together do you really have actionable attribution? Digital, today, leaves a trail for us to collect more data but is still vague unless the customer wants to submit a form leaving their information. Most customers will only do this when they are ready to buy or if they have 80% of their shopping completed and are ready to test drive.
Dealers always want to find the attribution number and make sure that credit is given for the vendor deserving of praise, but when it comes to digital how do you know? Do you look at sessions from your site? Is your GTM telling you the new widget you got is doing the trick but at the end of the day all you have are IP addresses and zip codes? Do you still feel like you are drowning in data?
Look, if all you have are IP addresses and zip codes, then you need to spend more in digital on all fronts to increase the opportunity count for leads that your people can actually work with. It is that simple.
Attribution is important and must be looked at, but knowing the customer's first name, last name, address, zip code and phone is even more important. Now we have data that we can make actionable to close a lead.
If your digital is creating traction that's great, but you need to be able to turn it into someone who will buy a car. If your team is constantly working on leads that have the same information then what value proposition are you giving your customer? Your team should know what you customers are shopping for while they are on the path to purchase. Once you stream line your marketing, the data flowing into your dealership will help your team sell more cars and will help your customers with more relevant messaging.
The good news is this will not cost you a fortune.
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Auto Dealers, Are Enough Millennials Buying?
Millennials like to buy new automobiles. This generation was born in the early 1980s up through the late 1990s and they construct more than 75 million of our total population! Many in the auto industry had determined that millennials were not interested in buying cars, but recent studies show it wasn’t the lack of interest. It was actually a lack of money.
As the ecomony started improving, millennials were finally able to gain employment and at the same time gain better credit ratings. They even started moving out of their parents' homes and headed to the auto dealerships to look for enticing deals.
Yes, there has been an increase in car-sharing services such as Uber and Lyft but millennials do want to own their own vehicles. They represent the fastest growing segment among auto buyers and the trend is looking as though they will make up 40% of the new-vehicle market by the early 2020s.
Last year, millennials purchased upwards of 4.1 million automobiles, 29% of the market. They are also accountable for changing the automotive marketing and even product features. Millennials are likely to influence future developments in the auto industry, more than any generation before them.
Auto Dealers, can't find the millennials? At Live Marketing, we have the tools to bring them directly to you.
Now that the trade show is over…
Let's focus on something that makes you money! Let LIVE MARKETING increase your sales by 25% by engaging your customers while they are on the path to purchase. LIVE MARKETING is a multi-channel marketing company that tracks a consumer’s propensity as they start their online shopping.
LIVE MARKETING combines all your dealer data and leads into one automated marketing system. We deliver analytics and ROI in real time to your smartphone or tablet making the data so understandable even the Kardashians would get it.
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