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Why Auto Dealers should Market /Sell On The Internet

Thomas Ieracitano
Thomas Ieracitano

The document discusses using the internet as the most cost-effective form of advertising for car dealerships. It emphasizes that the dealer website is the most important online advertising and should be optimized to convert visitors. It outlines different types of online advertising opportunities for dealerships, such as classified listing sites, search engine marketing, video search, reputation management, and social media. It also provides examples for how to measure the effectiveness of online advertising by tracking metrics like website conversions, phone calls from classified sites, and search engine marketing costs versus traffic.

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How to Use the Internet as the Most Cost- Effective Advertising Medium EVER Now is a critical time to change how your dealership thinks and spends advertising dollars. Thomas Ieracitano www.DigitalCarGuy.com
Todays Objective Understand the Internet as advertising. (and its not really just about how many emails you get.) Why your web site is the most important advertising for your dealership. Types of online advertising and how to measure them. Re-inventing the Internet Department as the focal point of all dealership activity, including and especially advertising. Putting it all together
On the Economy: Which One Are You? Pessimist Glass is Half Empty Optimist Glass is Half Full
On the Economy: Which One Are You? The Rationalist - The glass is twice as big as it needs to be
Lets Get Real Credit was given too freely and much of historical market gains were based on pretend money. What does this mean for you? People will continue to buy cars. Just not as many or as often.
Where are the car buyers? FACT: MEDIA HABITS HAVE CHANGED DRASTICALLY, BUT DEALER ADVERTISING HAS BEEN SLOW TO ADAPT. 75% of car shoppers used the Internet vs. 16.6% Dealer Budget 8% of car shoppers used TV vs. 16.9% Dealer Budget 2% of car shoppers used direct mail vs. 10% Dealer Budget 4% of car shoppers used radio vs. 17.4% Dealer Budget 13% used newspaper vs. 27% Dealer Budget *2008 NADA DATA, AutoTrader.com Walk-in Study December 2008, JD Powers 2008
It may be the internet but its STILL advertising! Online advertising should be the first place dollars are spent. Dealers can save a great deal of money by engaging in a full-blown online strategy, adding dollars to the bottom line and even making money in a down market! Sell the Car, Sell the Dealer
Sell the Car, Sell the Dealer LETS TALK ADVERTISING
def. the act of or practice of calling public attention to ones product or service. to get more customers by advertising. Right Audience + right message = customers
Advertising Overview Push vs. Pull Traditional Advertising is Push Marketing Interruptive, one to many advertising, Mass Marketing Newspapers Radio (Satellite, HD Radio, Streaming) TV (English, Spanish) Outdoor Billboards Yellow Pages Offline and Online Direct Mail Magazines Banners/Buttons, Mass Email, Sponsorships
The New PARADIGM Pull v. Push Permission Marketing Pull Marketing One-to-one advertising, consumers come to you and ask for your ad (hand-raisers) Your Own Engaging Web Site/SEO Classified Sites like AutoTrader.com, Cars.com, EbayMotors, Edmunds.com Search Engine Marketing Permission Email/Texting Social Media Marketing/Blogging Use of your CRM as a follow-up tool ALL THROUGH THE INTERNET
Have you ever heard I know that half of my advertising is wasted. The problem is, I dont know which half. - John Wanamaker With all the tracking available from phone, chat, email and Internet quantifying reports Now is the time to figure it out!
Why Should You Care? Because embracing the right kinds of Internet advertising is crucial for survival in todays economy. You could be missing the boat! Dealers have a wealth of online options providing the most targeted advertising available today; many have little to do with the number of email leads received. It may not be cheap anymore, but online advertising is the most valuable and critical tool in a dealers ad strategy.
Consider This Ad Clutter is OUT OF CONTROL - its more difficult than ever and expensive to get through all the noise (we see 1,000,000 ads per year or an average of 3,000 per day). Technology allows people to avoid commercials (Satellite Radio, TIVO) Media companies are dropping their rates because market share and accountability are down
The way advertising has worked in the past is not viable if youre struggling to survive! Theres a definition for doing the same thing over and over expecting different results INSANITY
The Internet Pie Components of the typical Internet Department or BDC Online Advertising Customer Follow-up Internal Process Web Site Lead Purchase
Advertising & the Internet Most important of all, the Dealer Web Site is the Culmination of all your advertising AND An Online Representation of Your Dealership WHAT DO YOUR CUSTOMERS SEE?
A 3-Ring Circus?
Or a Well-Orchestrated, Advertising Tool? Tracking Easy, Clean numbers Navigation IM/Chat Conversion Tools Forms Specials Video and Online
Web Site Must-Haves Simple, easy navigation Dont give consumers too much credit for knowing where to go and what to do. Interactive Specials Tied to offline marketing, updated often. What better place to put advertising in front of people than on your web site? Video and Graphic, even interruptive. Multiple Conversion Tools Chat, Coupons, Value Your Trade, Forms, Phone Tracking, Credit Apps
Online SpecialsThe Modern Day Newspaper Ad - Interactive - Compelling - Professional - Tied into Offline Advertising for Synergy - EVERY Profit Center Needs Specials www.DigitalCarGuy.com
Online Advertising Opportunities In ORDER of IMPORTANCE
Dealers have great online choices CLASSIFIED ADVERTISING SITES (MANDATORY) Ebay Autos, Cars.com, AutoTrader.com, Edmunds.com Merchandised car ads, pictures, overlays and use of video are particularly helpful SEARCH ENGINE MARKETING (MANDATORY) You must dominate the search engines! Not just your make, but used, service, conquest makes, competitors, parts. Its the only advertising for dealers which is 100% PERFORMANCE DRIVEN.
Types of Online Advertising VIDEO SEARCH ENGINE MARKETING (SUGGESTED) Optimizing engaging video advertising instead of only information. Car Buyers Engine, Unity Works Media DEALERSHIP REPUTATION MANAGEMENT (SUGGESTED) ONLY UNHAPPY PEOPLE COMPLAIN UNLESS YOU INVOLVE YOURSELF! Dealer Rater, Blogging, Video Testimonials SOCIAL MEDIA MARKETING (UP and COMING) Uses of Facebook, MySpace, YouTube, Twitter, Blogging
Types of Online Advertising RE-TARGETING/CONTEXTUAL BANNERS Using Re-targeting and contextual banner advertising to create awareness during the shopping process SPONSORSHIP ADVERTISING Partnering with local media sites to sponsor content, with ads included
HOW TO EVALUATE ONLINE ADVERTISING
Web Site Conversions Unique Monthly Users/Visitors 8,045 Site Forms 171 Tracked Phone Calls 703 Chats 185 Black Book Leads 55 Conversion = All tracked areas divided by unique users 171+703+185+55 = 1,114 tracked activities 1,114/8,045= 13.8% conversion
Evaluating Classified Ad Sites Actual Inventory Detail Pages 11,645 inventory was Phone Calls: 43 viewed (clicked Emails: 16 on) over Credit Apps: 5 11,600 times! Where Printable Ad Requests 42 else can you Map Views 28 do that? Visited Web Site/Viewed Inventory 229 Banner/Find a Dealer Click-Thrus 34 397 trackable activities this doesnt even TOTAL ACTIVITY 397 include walk-in traffic
Evaluating SEM Compare Pay Per Click Traffic to Unique Visitor Report and Budget Example: March, 2009 3,567 Search Engine click-thrus 7,041 Unique Users PPC/Unique Users = % of Online Traffic 3,567/7,041 = 50.7% of Online Traffic
Evaluate SEM vs. Offline SEARCH ENGINE MARKETING: 7,041 Unique Users 3,567 Search Engine click-thrus COST: $8,400 OFFLINE ADVERTISING: Remaining 3,474 Users COST: $50,000 (Can you see the opportunity to save money and add it back to the bottom line just by following the data?)
It may be the internet but its STILL advertising! Everything you do online should be evaluated in the context of advertising. From how many pictures you take, to how often you update your specials, to how easy it is for customers to contact you. Its all advertising and needs to have a strategy behind it!
What Can You Do? Inject yourself into the advertising process. The Internet Department absolutely should be a key component in planning and executing ad strategies for the dealership as a whole. Use the data available to make smarter, data-supported decisions. There is so much data from all the various online sources you can use; use the metrics to determine the effectiveness of your online advertising ventures. Audit your Internet Expenditures Make sure that you are spending wisely, look for duplication or inefficient programs.
What Can You Do? Understand the dealers perspective on the Internet as cheap. How much Internet advertising should cost is based on history (how old is the internet vs. print or TV?), rather than an objective analysis against other more expensive efforts. Differentiate between the type of online advertising to make targeted choices. Understanding the difference in response to a banner ad on a television station web site as compared to a 3-line ad on Google is a critical piece of the puzzle.
Benefits of Targeted Online Media Unbelievably Targeted Out of all media choices, the Internet efficiently targets who the advertiser talks to better than any other. There is very little waste. Performance Driven Everything is trackable. You can see for yourself what activity is happening both on your end and the advertisers. No other medium can do that (or is asked to). Ultimate Call to Action The best place to advertise your best offers. Level the playing field The smaller advertisers can compete right along with the mega-dollar advertisers. The quantifiability of it is changing the way traditional advertising is measured.
In Summary What % of an ad in print, on radio or television is wasted on people not interested in your product at any given time? Answer: A LOT What % of an ad seen on a search engine, classified site or your web site is wasted on people not interested in your product at any given time? Answer: NONE Thank You, Thomas Ieracitano DigitalCarGuy.com

More Related Content

Why Auto Dealers should Market /Sell On The Internet

  • 1. How to Use the Internet as the Most Cost- Effective Advertising Medium EVER Now is a critical time to change how your dealership thinks and spends advertising dollars. Thomas Ieracitano www.DigitalCarGuy.com
  • 2. Todays Objective Understand the Internet as advertising. (and its not really just about how many emails you get.) Why your web site is the most important advertising for your dealership. Types of online advertising and how to measure them. Re-inventing the Internet Department as the focal point of all dealership activity, including and especially advertising. Putting it all together
  • 3. On the Economy: Which One Are You? Pessimist Glass is Half Empty Optimist Glass is Half Full
  • 4. On the Economy: Which One Are You? The Rationalist - The glass is twice as big as it needs to be
  • 5. Lets Get Real Credit was given too freely and much of historical market gains were based on pretend money. What does this mean for you? People will continue to buy cars. Just not as many or as often.
  • 6. Where are the car buyers? FACT: MEDIA HABITS HAVE CHANGED DRASTICALLY, BUT DEALER ADVERTISING HAS BEEN SLOW TO ADAPT. 75% of car shoppers used the Internet vs. 16.6% Dealer Budget 8% of car shoppers used TV vs. 16.9% Dealer Budget 2% of car shoppers used direct mail vs. 10% Dealer Budget 4% of car shoppers used radio vs. 17.4% Dealer Budget 13% used newspaper vs. 27% Dealer Budget *2008 NADA DATA, AutoTrader.com Walk-in Study December 2008, JD Powers 2008
  • 7. It may be the internet but its STILL advertising! Online advertising should be the first place dollars are spent. Dealers can save a great deal of money by engaging in a full-blown online strategy, adding dollars to the bottom line and even making money in a down market! Sell the Car, Sell the Dealer
  • 8. Sell the Car, Sell the Dealer LETS TALK ADVERTISING
  • 9. def. the act of or practice of calling public attention to ones product or service. to get more customers by advertising. Right Audience + right message = customers
  • 10. Advertising Overview Push vs. Pull Traditional Advertising is Push Marketing Interruptive, one to many advertising, Mass Marketing Newspapers Radio (Satellite, HD Radio, Streaming) TV (English, Spanish) Outdoor Billboards Yellow Pages Offline and Online Direct Mail Magazines Banners/Buttons, Mass Email, Sponsorships
  • 11. The New PARADIGM Pull v. Push Permission Marketing Pull Marketing One-to-one advertising, consumers come to you and ask for your ad (hand-raisers) Your Own Engaging Web Site/SEO Classified Sites like AutoTrader.com, Cars.com, EbayMotors, Edmunds.com Search Engine Marketing Permission Email/Texting Social Media Marketing/Blogging Use of your CRM as a follow-up tool ALL THROUGH THE INTERNET
  • 12. Have you ever heard I know that half of my advertising is wasted. The problem is, I dont know which half. - John Wanamaker With all the tracking available from phone, chat, email and Internet quantifying reports Now is the time to figure it out!
  • 13. Why Should You Care? Because embracing the right kinds of Internet advertising is crucial for survival in todays economy. You could be missing the boat! Dealers have a wealth of online options providing the most targeted advertising available today; many have little to do with the number of email leads received. It may not be cheap anymore, but online advertising is the most valuable and critical tool in a dealers ad strategy.
  • 14. Consider This Ad Clutter is OUT OF CONTROL - its more difficult than ever and expensive to get through all the noise (we see 1,000,000 ads per year or an average of 3,000 per day). Technology allows people to avoid commercials (Satellite Radio, TIVO) Media companies are dropping their rates because market share and accountability are down
  • 15. The way advertising has worked in the past is not viable if youre struggling to survive! Theres a definition for doing the same thing over and over expecting different results INSANITY
  • 16. The Internet Pie Components of the typical Internet Department or BDC Online Advertising Customer Follow-up Internal Process Web Site Lead Purchase
  • 17. Advertising & the Internet Most important of all, the Dealer Web Site is the Culmination of all your advertising AND An Online Representation of Your Dealership WHAT DO YOUR CUSTOMERS SEE?
  • 19. Or a Well-Orchestrated, Advertising Tool? Tracking Easy, Clean numbers Navigation IM/Chat Conversion Tools Forms Specials Video and Online
  • 20. Web Site Must-Haves Simple, easy navigation Dont give consumers too much credit for knowing where to go and what to do. Interactive Specials Tied to offline marketing, updated often. What better place to put advertising in front of people than on your web site? Video and Graphic, even interruptive. Multiple Conversion Tools Chat, Coupons, Value Your Trade, Forms, Phone Tracking, Credit Apps
  • 21. Online SpecialsThe Modern Day Newspaper Ad - Interactive - Compelling - Professional - Tied into Offline Advertising for Synergy - EVERY Profit Center Needs Specials www.DigitalCarGuy.com
  • 22. Online Advertising Opportunities In ORDER of IMPORTANCE
  • 23. Dealers have great online choices CLASSIFIED ADVERTISING SITES (MANDATORY) Ebay Autos, Cars.com, AutoTrader.com, Edmunds.com Merchandised car ads, pictures, overlays and use of video are particularly helpful SEARCH ENGINE MARKETING (MANDATORY) You must dominate the search engines! Not just your make, but used, service, conquest makes, competitors, parts. Its the only advertising for dealers which is 100% PERFORMANCE DRIVEN.
  • 24. Types of Online Advertising VIDEO SEARCH ENGINE MARKETING (SUGGESTED) Optimizing engaging video advertising instead of only information. Car Buyers Engine, Unity Works Media DEALERSHIP REPUTATION MANAGEMENT (SUGGESTED) ONLY UNHAPPY PEOPLE COMPLAIN UNLESS YOU INVOLVE YOURSELF! Dealer Rater, Blogging, Video Testimonials SOCIAL MEDIA MARKETING (UP and COMING) Uses of Facebook, MySpace, YouTube, Twitter, Blogging
  • 25. Types of Online Advertising RE-TARGETING/CONTEXTUAL BANNERS Using Re-targeting and contextual banner advertising to create awareness during the shopping process SPONSORSHIP ADVERTISING Partnering with local media sites to sponsor content, with ads included
  • 26. HOW TO EVALUATE ONLINE ADVERTISING
  • 27. Web Site Conversions Unique Monthly Users/Visitors 8,045 Site Forms 171 Tracked Phone Calls 703 Chats 185 Black Book Leads 55 Conversion = All tracked areas divided by unique users 171+703+185+55 = 1,114 tracked activities 1,114/8,045= 13.8% conversion
  • 28. Evaluating Classified Ad Sites Actual Inventory Detail Pages 11,645 inventory was Phone Calls: 43 viewed (clicked Emails: 16 on) over Credit Apps: 5 11,600 times! Where Printable Ad Requests 42 else can you Map Views 28 do that? Visited Web Site/Viewed Inventory 229 Banner/Find a Dealer Click-Thrus 34 397 trackable activities this doesnt even TOTAL ACTIVITY 397 include walk-in traffic
  • 29. Evaluating SEM Compare Pay Per Click Traffic to Unique Visitor Report and Budget Example: March, 2009 3,567 Search Engine click-thrus 7,041 Unique Users PPC/Unique Users = % of Online Traffic 3,567/7,041 = 50.7% of Online Traffic
  • 30. Evaluate SEM vs. Offline SEARCH ENGINE MARKETING: 7,041 Unique Users 3,567 Search Engine click-thrus COST: $8,400 OFFLINE ADVERTISING: Remaining 3,474 Users COST: $50,000 (Can you see the opportunity to save money and add it back to the bottom line just by following the data?)
  • 31. It may be the internet but its STILL advertising! Everything you do online should be evaluated in the context of advertising. From how many pictures you take, to how often you update your specials, to how easy it is for customers to contact you. Its all advertising and needs to have a strategy behind it!
  • 32. What Can You Do? Inject yourself into the advertising process. The Internet Department absolutely should be a key component in planning and executing ad strategies for the dealership as a whole. Use the data available to make smarter, data-supported decisions. There is so much data from all the various online sources you can use; use the metrics to determine the effectiveness of your online advertising ventures. Audit your Internet Expenditures Make sure that you are spending wisely, look for duplication or inefficient programs.
  • 33. What Can You Do? Understand the dealers perspective on the Internet as cheap. How much Internet advertising should cost is based on history (how old is the internet vs. print or TV?), rather than an objective analysis against other more expensive efforts. Differentiate between the type of online advertising to make targeted choices. Understanding the difference in response to a banner ad on a television station web site as compared to a 3-line ad on Google is a critical piece of the puzzle.
  • 34. Benefits of Targeted Online Media Unbelievably Targeted Out of all media choices, the Internet efficiently targets who the advertiser talks to better than any other. There is very little waste. Performance Driven Everything is trackable. You can see for yourself what activity is happening both on your end and the advertisers. No other medium can do that (or is asked to). Ultimate Call to Action The best place to advertise your best offers. Level the playing field The smaller advertisers can compete right along with the mega-dollar advertisers. The quantifiability of it is changing the way traditional advertising is measured.
  • 35. In Summary What % of an ad in print, on radio or television is wasted on people not interested in your product at any given time? Answer: A LOT What % of an ad seen on a search engine, classified site or your web site is wasted on people not interested in your product at any given time? Answer: NONE Thank You, Thomas Ieracitano DigitalCarGuy.com