Metrics that Matter How to Measure your Digital Efforts

Transcription

1 October 18 th -20 th, 2015 The Bellagio Hotel, Las Vegas Denise Chudy CEO & Co-Founder LotLinx Metrics that Matter How to Measure your Digital Efforts Dave Spannhake President & Founder Reunion Marketing

2 Objectives v Align on the truths in automotive digital marketing v Agree on the things we have yet to learn v Share how data from your own Google Analytics can enlighten your digital marketing v Share the industry s first Google Analytics VINvertising Dashboard v Question & Answer Session

3 1. Most car shoppers no longer send e-leads 2. Dealers are sending more shoppers to their own sites to interact directly 3. Shoppers shop around 4. VIN views move cars off the lot

4 Most Car Shoppers do not send e-leads

5 Most Car Shoppers do not send e-leads Desktop Leads v 1.4% v Phone: 3.0% Mobile Leads v 0.8% v Phone: 1.9% Source: LotLinx Analytics Secret Shopper Study Q2, 2015

6 Dealers are Sending More Traffic to their own Sites Summary of ~400 Dealer Google Analytics Accounts: Average dealer generates 11,000 visits/month Growing number of those visits are generating VIN views (visitor looks at VINs on SRP or VDP) Source: LotLinx Analytics September Dealer GA Benchmarks

7 Shoppers Shop Around 75% of car-shoppers visit manufacturer websites, and most of those shoppers visit the OEM website and the dealer website in the same thirty minutes. Cobalt Business Intelligence

8 Shoppers Shop Around Source: LotLinx Analytics September Dealer GA Benchmarks 1 of 50 visitors generated by LotLinx returns to the dealer s site through paid search 3 of 100 visitors generated by LotLinx returns to the dealer site through organic search

9 VIN Views Sell Cars

10 VIN Views Sell Cars

11 1. What KPIs drive our business 2. How to value our KPIs 3. How car shoppers engage on Vehicle Details Pages 4. Variances among VINs and the views needed to move them off the lot

12 What KPIs are Important and How to Value

13 How Car Shoppers Engage with VINs v How many pictures viewed? Video watched? v Did they scroll to the bottom to read the details? v Did they cross-shop? v Did they click on a 3P widget that took them to another site? v What are potential GA blindspots?

14 VIN View Variances Source: LotLinx Analytics Q3 Velocity Data Example: For 2016 model year cars, by driving traffic to VDPs, LotLinx reduces days on lot from 22 days to 13 days.

15 The Goal is to turn Data into Information, and Information into Insight. -Unknown

16 Google Analytics is so more than just the main dashboard!

17 1. What are Goals? Behaviors performed by site visitors that demonstrate valuable actions Which actions correlate to sales? 2. The Importance of Setting Goals Setting goals allows you to see shopping behavior from all traffic sources Shopping behavior data can differ from site wide data

18 Goal 1 - New Vehicle Detail Page View Goal 2 - Used Vehicle Detail Page View Goal 3 - CPO Vehicle Detail Page View Goal 4 - Website Lead Goal 5 - Click to Call from SRP/VDPs Goal 6 - Customer Chat or Text Goal 7 - Finance Leads Goal 8 - Trade Appraisal Leads Goal 9 - View Incentives/Coupons

19 Setting Up Goals

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24 Recommended Goal Values Goal 1 - New VDPs 1.00 Goal 2 - Used VDPs 1.00 Goal 3 - CPO VDPs 1.00 Goal 4 - Website Leads Goal 5 - Click to Call Goal 6 - Chat or Text Goal 7 - Finance Leads Goal 8 - Trade Appraisals Goal 9 - Incentives/Coupons

25 1. Benchmark VDPs at 1.00 Highly correlative with sales Rule of thumb 30 VDPs = 1 sale 2. Website Leads Only about 1-3% of site traffic converts to an lead Correlates with sales, but not as highly as VDPs Approximate leads/total sales = 1.5 to 2.0

26 3. Website Lead Value 30 VDPs/1.5 leads = Chat Value Chats generate leads around 75-80% x 75% = Trade Appraisal & Finance Events 18% of trade appraisal and credit apps initiated on site become leads x 18% = approximately 4.00

27 VINvertising Dashboard

28 Go to the following URL and add your View to save the dashboard. uid=2s_soekproegiu3iitck7w

29 Choose Your Date Range Top right of the dashboard Compare with previous periods

30 The Key to the Dashboard is to Use Shopping Behavior Created From Goals Add Segment Click on Converters

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39 ACTION ITEMS ü Be sure to keep in tune with how your VIN views help sell cars ü Measure shopping behavior and engagement, not just clicks ü Set up goal tracking & goal values ü Adopt the VINvertising Dashboard ü Set up automated s of the VINvertising Dashboard

40 SUGGESTED RESOURCES v Link to Install the VINvertising Dashboard uid=2vl_w_dhrhssn1lahdu7fg v PDF Setting up Goals in Google Analytics v PDF Setting up Your VINvertising Dashboard

41 October 18 th -20 th, 2015 The Bellagio Hotel, Las Vegas Thank You! Denise Chudy CEO & Co-Founder LotLinx Dave Spannhake President & Founder Reunion Marketing Please take a moment to rate my presentation in the DSES mobile app!