internet sales facts
TRANSCRIPT
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$
Advertising Salespeople
Inventory
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“Advertising is the science of arresting human intelligence long enough to get
money from it”
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0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
6 mo 5 mo 4 mo 3 mo 2 mo 1 Mo 2 Wk
Source: CNW Marketing/Research and Time Inc. Purchase Process
Radio
Newspaper
Internet
Magazine
TV
Time preceding purchase of an automobile
Can they find you & can you turn it into a Lead?
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1%
1%
2%
3%
8%
42%
43%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%
Newspaper
Radio
Direct Marketing
Family, Friends & Co-Workers
TV
Internet Sites
Dealership Visit
QUESTION? Thinking about all of the sources of information used during the Beginning, Middle, Final, & Entire process, please rank order the sources according to how helpful they are?
Overall, the Internet and the Dealership visit are considered most helpful throughout the entire process.
Source: R.L. Polk CO., 2007 New Vehicle Shopping Media Usage.
Consumer Ratings of Car Shopping Information Sources
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Source: NADA Data 2007 Report. R.L. Polk CO., 2007 New Vehicle Shopping Media Usage.
42%
1%
2%
1%
8%
12%
27%
10%
18%
20%
Internet
Newspaper
Direct Marketing
Radio
TV
Most Useful Shopping Source
Dealer Advertising
Dealer Spending vs. Car Shoppers’ Preferred Media
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39.4%
21.4%
14.2%
9.6%
4.3%
1.2%
0.7%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
Price (price was competitive)
Dealership Response (good, quick)
Proximity (dealership in close proximity)
Inventory (had what looking for)
Existing Relationship (with dealership)
Other
Trade-in (fair trade-in value offer)
Price (price was competitive) Dealership Response (good, quick) Proximity (dealership in close proximity)
Inventory (had what looking for) Existing Relationship (with dealership) Other
Trade-in (fair trade-in value offer)
Customers Say Buying DecisionDepends on Response Time…
Cobalt eBusiness Performance Study 2006
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How do you know it works?
Phone Tracking Numbers
Radio
Call SoftwareJoe’s Dealership
100 calls
30 appts
10 calls
2 appts
300 calls
80 appts
TV 90 calls
20 appts
3. Coupon
2. Click Internet?
1
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Who is the Advertising Mgr.?E Bay Dealix OEM Cars.com My Website
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What are you spending
– Total Monthly Budget– Cost per car?– Cost per sale?
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What Advertising drives traffic?• Are we running Brown Bananas or “lead
cars”? • What do New ads look like vs. Used?• Hunting vs. Farming?
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Advertising Salespeople
Inventory
Dealership Management
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Thought starters… • What % of customers use the Internet
before they buy (10 yrs. Ago vs. today)? • What are the 2 most important pieces of
Dealer real estate?• Did you build the “Field of Dreams”
website?• What are you doing with your Internet
“Ups”?
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88%88%
% of Customers that use the Internet for Research prior to visiting a dealership
Fact About Internet Sales
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21%And rising
21%And rising
% of Customers that choose searched Dealers based on Internet Consumer Reviews
Fact About Internet Sales
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42%42%
% of Customers that buy within 30 days
of their 1st search
Fact About Internet Sales
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30%30%
% of Customers who use newspaper classified ads
to locate a Used car
Fact About Internet Sales
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% of customers that use the Internet to locate a Used car
71%71%
Fact About Internet Sales
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% of Customers that have not decided if they want a New or
Used car when they visit a Dealer’s website
42%42%
Fact About Internet Sales
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% of New Car Customers that visit Dealership websites
before buying
48%48%
Fact About Auto Sales
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64%64%
% of Used Car Customers who visit Dealership websites
before buying
Fact About Internet Sales
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4-54-5# of websites Customers visited
before submitting a lead
Fact About Internet Sales
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42%42%
% of Customers that were New Car Leads & bought a
Used Car instead
Fact About Internet Sales
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% of Customers that buy a different car than the one they
submitted a Lead on
58%58%
Fact About Internet Sales
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% of Dealers that Follow Up only 1 time with 1 Email
55%55%
Fact About Internet Sales
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% of Leads sent to Dealers that go Unanswered
30%30%
Fact About Internet Sales
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% of Customers that submitted an Internet Lead
by Email
20%20%
Fact About Internet Sales
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% of Customers that submitted an Internet Lead
by Phone
80%80%
Fact About Internet Sales
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% of Calls where Salespeople quoted
discounts, payments or trade value
71%71%
Fact About Internet Sales
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% of Calls where Salespeople didn’t ask for an appointment
84%84%
Fact About Internet Sales
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% of Calls where Salespeople didn’t ask for a phone #
66%66%
Fact About Internet Sales
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% of Calls where Salespeople didn’t ask for a Customer’s name
42%42%
Fact About Internet Sales
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% of Customers that submitted a Lead and actually bought
from that Dealer
8%8%
Fact About Internet Sales
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1st base – getting to the website• How do they get there now?
–Paid leads from other websites–Search Engine (Google, Yahoo)–Type in the web address (how long is it?)–Click on the website off their “favorites” list
• Can a Customer Google you?• Leveraging traditional ads (on lot also)?• “Farming” the database with e mails
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2nd base – converting a visit >lead
• Home Page - D.I.S.C? • Clicks to Cars - Manager’s Specials?• Description – Stats or “story”• Pictures – many, scrolling• Print me, call me, e-mail me• Average is only 2%!
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3rd base – converting a lead > appt
• Why are internet leads not ups?• Who is responding & # of leads?• 6 days, hours, or min.? Auto response?
1. Thanks & intro
2. At least 1 alternative vehicle, 2 or 3 better, 1 CPO with more features
3. A reason to buy from you
4. Ask 2 qualifying ?’s to start dialogue
5. Give contact info and ask customer preference
6. ASK FOR AN APPOINTMENT
Dealers Survey of Avg. Response time = 45 min.
Customers Survey = 5.4 hoursNew or CPO? This EXACT car, or the
NICEST one like it?
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E-Mail 1st Auto responseThank you for your Automotive Internet Inquiry,our goal is to make sure that you receive quick and accurate information.. We have one of the most successful Internet departments in the Market.
To better serve your Automotive needs please call us now at 1-800-234-5678.
This is a direct line to your personal Internet Specialist.
What if they don’t respond?
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Phone Best Practices• Who is answering the
calls?• Set an appointment to
get them into the Dealership.
• Who with?• What if they are not
buying today?
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Home Run – converting appts. > $ales
• What % of customers buy a car without coming in?
• Expectations when they come to the store?–Trade value?–Payment Calculator?
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What are you spending?• Per month?• X 12?• So ,who is the Advertising
Manager?• Cost per lead?• Cost per sale?
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Who is the Advertising Mgr.?A1.com B2.com C3.com D4.com Our Website
Sales
$ per Sale
24 24 24 55 42
$204$470$583$854$719
Which #’s can we be certain of?
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Keeping Score
What do you do with the Leads?Leads to: Good Great Best
Appts.% 50 60 70
Show% 50 60 70
Sold% 50 60 70
Total 12.5 21.6 34.3
Cost Per $ale!