Leading Edge Merchandising Best Practices
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This document discusses how dealerships can better understand and optimize their marketing efforts towards unique visitors. It notes that dealerships typically spend $8-15 to drive each unique visitor but only 1.6% of visitors convert into car sales. The document recommends that dealerships focus more on retargeting unique visitors and conversion optimization rather than broad traffic acquisition. It emphasizes measuring return on ad spend for different marketing channels and focusing advertising budget on channels that drive the lowest cost per conversion like retargeting.
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Leading Edge Merchandising Best Practices
- 1. UNLOCK THE VALUE OF YOUR UNIQUE VISITORS GENERATING ACTIONABLE INSIGHTS
- 2. UNDERSTANDING YOUR UV’S • Tremendous amount of $ is spent driving traffic to your site. • Typically dealers spend $8-15 per UV in marketing. • Average dealership has a UV to Car sale ratio of between 50-75x • Your UV’s are your most valuable asset and the most under- appreciated.
- 3. LET’S LOOK AT THOSE VISITORS
- 4. 63%Of vehicle buyers begin their search with a specific brand in mind.
- 5. Only about 20% end up buying that car
- 6. Your car buyer on average has 900+Digital interactions
- 7. Of which 70% Happens on mobile.
- 8. And about 98.4% Of your unique visitors will not buy from you.
- 9. OVER 50% OF YOUR BUYERS VISITED YOUR SITE AT LEAST 4-6x
- 11. Big gap between investments in traffic driving channels vs. conversion driving channels. HERE’S THE PROBLEM…
- 12. You’re too focused on what drives traffic vs. what drives conversions. HERE’S THE PROBLEM…
- 13. Sub-optimal Return on Ad Spend. THIS LEADS TO:
- 14. More focus should be allocated to what is driving conversions!
- 15. WHAT DO WE BELIEVE? Too much money is allocated to “conquest” and “audience extension”
- 16. AND NOT ENOUGH… In acquisition and conversion channels.
- 17. THE RESULT? Higher CPA then what the dealership SHOULD generate.
- 18. CONVERSION CHANNEL? Yes, retargeting. It’s important
- 19. WHY DOES THIS GAP EXIST?
- 20. NOT REALLY MEAUSURING ROAS • Model B is 51% more expensive per click Impressions 100,000 CTR 0.40% Clicks 400 CPC 1.50$)))))))))) Cost 600.00$)))))) PCC 2.15% Conversions 8.6 $4/4Conversions 69.77$)))))))) Impressions 100,000 CTR 0.40% Clicks 400 CPC 2.27$********** Cost 908.00$****** PCC 4.00% Conversions 16 $4/4Conversions 56.75$******** • Looking deeper at the conversion model is generates a cost per conversions that is 20% lower.
- 21. WHY RETARGETING IS IMPORTANT • Retargeting’s sole role is to convert. • You don’t know when they will act. • Allows you to remain present across the journey. • Visit frequency is key. Most buyers visited 4-6x
- 23. A smart engine looks at each visitor individually.
- 24. Each ad needs to be personalized!
- 25. Not this!
- 27. It should be cross-screen
- 28. Don’t focus on CTR or IMP, or the lowest CPM… it’s the post click conversion that matters.
- 29. USE GA TO MAKE SENSE OF YOUR TRAFFIC • Google Analytics provides super important info about your traffic. • UVs, sessions, page per UVs, device use, demographics, acquisition • Goal setting is critical. • Track conversions of your marketing channels and sources. • Determine which ones are driving the leads and which ones aren’t.
- 30. MEASURE THE ROAS OF YOUR CHANNELS
- 31. KEY TAKEAWAYS • Invest more intelligently in retargeting to spend more efficiently. • Set-up goals to track performance of your digital initiatives. • Understand how your advertising channels are performing at all times. • LOOK closely at conversion cost not click cost or CPM!
- 32. THANK YOU ARTHUR DESSEIN DIRECTOR, AD TECH SPINCAR ART@SPINCAR.COM 315-395-6301