The use of different sources and more devices during the purchase process create a difficult situation for media attribution — despite the fact that online advertising has enhanced measurability.
Digital Sin No. 1: Assuming All Audiences are Created Equal
Think quality over quantity. It is important for dealers to look at the audience engagement in each of their ads instead of trying to get their ad in front of a large audience. According to Cars.com, 11 percent of U.S. adults aged 18–64 are in the market to purchase a car, leaving 89 percent of adults who are not concerned with car shopping. Dealers shouldn’t rely on traditional media outlets, such as TV and radio, for the broad reach it provides if it will only be relevant to one out of 10 consumers exposed to the ad
Digital Sin No. 2: Putting Too Much Focus on the Lead
Since online retailing first arrived, dealerships used e-mail leads as a basis for their marketing platform. However, most car shoppers today never generate a lead and those who do submit one, don’t always convert. Jack Simmons, Cars.com dealer training manager, said that despite years of process optimization, the top dealers are only closing 15 percent of the leads they receive because most leads are sent to multiple dealerships, but only one car is sold in the end.
Shoppers do not see value in engaging through email because there is not a quick enough response. Instead they are opting for chat and text messaging. The webinar recommends being aware of new communication channels, measuring them and investing in media such as chat, website clicks and in-store visits. .
Digital Sin No. 3: Viewing Vehicle Detail Page Traffic as the Gateway to Sales
Most dealerships view the Vehicle Detail Page as a top indicator of digital marketing performance, but Cars.com cautions dealers the VDP itself may not necessarily be what influences shoppers to choose one dealer over another, especially in terms of comparing VDP views from third-party websites.
Users engage with the VDP in different ways turning it into a flawed metric. Cars.com categorized VDP shoppers as browsers and buyers. Both are in the process of buying a car, but at different stages. By lumping them together, dealers get mixed signals for what consumers are using the VDP for.
Dealers can optimize VDP performance by knowing how their inventory shows up in search results, pricing competitively to show up in search results and merchandising vehicles to stand out as they would on a dealer lot.