With competition among dealerships remaining high, measuring the return on investment from marketing spend is more important now than ever. Watch the video below to learn how Reed Autos use data and market insights provided by CarGurus to maximise their budget.
Your data is your most important sales resource
Closing a sale at your dealership is led by knowing your buyer, from preferences to budget, and more. Having those same data points for online shoppers is key to driving leads to your dealership.
Getting to know a potential car buyer in your dealership is easy. Talking, asking, listening, advising—it’s the car salesperson’s mantra.
Getting to know your online shoppers, though, can be an entirely different proposition.
- You can’t really talk to them one-on-one
- You can only ask limited questions
- Listening and advising isn’t as dynamic as a face-to-face conversation in a dealership
This may appear to paint a bleak picture for online lead generation and conversion, but it overlooks a simple yet powerful tool that also happens to be free of charge: Google Analytics.
Data is a window into buyer behaviour—use it to refine ads and drive sales
As a dealer, you should go beyond high-level metrics like Click Through Rate (CTR) to create a more rounded view of the path buyers travel to your website and the actions they take when they get there. As we discovered in our article on measuring data, the key data you need is surprisingly easy to find and analyse. In this piece, we’ll learn more about the valuable insights this data provides and how you can use it to attract more serious, sales-ready buyers.
The data behind online advertising offers dealers opportunities to optimise their campaigns and target likely buyers
If you’re spending money on online ad campaigns, you should properly measure not only the results, but also the wealth of available data behind those results.
Many car dealers measure digital ad performance using high level metrics like Click Through Rate (CTR), Cost Per Click (CPC), and lead volume. These metrics certainly tell a story, but don’t provide the full picture on their own. For example, not many of us click online ads, but that doesn’t mean they don’t contribute to awareness, interest, and, eventually, sales.
Simply put, deeper measurement leads to better online ads, tighter targeting, and more used car sales.