The Surprising Reason Your Used Cars Get Stuck on the Lot

and WHY the OSV is so Important!

Online Vehicle Search Volume OSV

Your Sales Manager is at the auction. Rows of vehicles are lined up, one after the other. He’s done this long enough to have picked out the ponies from the dogs.

There is one beauty sitting there. It’s clean. Appealing to the eye. A good model and one that his inventory market appraisal tool says will have a reasonable margin on it. He makes his move and wins the bid.

A success, by his standards. It shows up on the lot, goes through inspection and detail. It’s spotless – a great choice.

And then it sits on the lot.
And sits…
And sits…
And sits…

How Facebook is Outperforming Google in Display Ad Revenue

Sponsored PostIt’s a mobile world. Everybody is on-the-go all the time, and the smartest digital marketers are realizing this and making sure they stay in the game.

Facebook is Outperforming Google

 

Although Facebook is desktop-friendly, they have made mobile their specialty with a UI that features thumb-friendly infinite scrolling, seamless third-party integration with Safari, Instagram, and other applications, and push notifications. Because more and more users are on mobile devices vs. desktop computers, Facebook has been able to surpass Google in digital display ad revenues.

Facebook’s success has come as somewhat of a surprise – many research firms published reports forecasting that Google would stay in the lead. Check out the reversal in eMarketer’s predictions on Facebook vs. Google display ad revenue in 2013 vs. 2015:

2013

eMarketer Chart - Google vs Facebook 2013

2015

eMarketer Chart - Google vs Facebook 2015

So, why is Facebook performing so far beyond expectations? Well, for starters, it’s #1 in audience engagement compared to every other social media network. Its mobile app has become a “one-stop shop” of sorts, allowing its users to read the news, find current sports scores, socialize with their friends and families, shop and play games all at once.

Additionally, Facebook has incredible advertising technology unmatched in its industry. The ability to offer custom audiences based on user data that is only available to them puts Facebook and their advertisers in a win-win situation by providing better results than traditional display advertising such as Google AdWords (Related: How To Reach The Car Online Shoppers Your Competition Can’t).

It doesn’t seem like Facebook is planning on stopping any time soon, either. They’re taking on Google’s AdSense with the Facebook Audience Network (FAN) and challenging DoubleClick with their ad server, Atlas. They also have bonus revenue from their video ad network LiveRail – and let’s not forget about Instagram.

If you’re ready to have your dealership take advantage of the power of Facebook advertising, check out LotLinx Deeplinking™ for Facebook to experience 44% better results than AdWords at 66% of the cost.

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This blog post used information from this article by Marketing Land: Does Google stand a chance against Facebook in mobile display?

What Does the 2016 Car Buyer Journey Say?

Study commissioned by Cox Automotive through IHS Automotive

AutoTrader IHS 2016 car buyer Journey header

“The 2016 Car Buyer Journey” sets out to capture the journey that car buyers are taking when purchasing a new or used vehicle. The numbers are not sexy or overly novel, but they can provide a roadmap for where dealerships should consider investing their advertising dollars as well as the top places to capture customers’ attention and drive them into your dealership.

Everyone’s trying to find the magical road that expedites a car shopper to a car purchaser. And while the “road to the sale” model is arguably outdated, researchers continue to look for the most relevant consumer habits to close the gap.

What does that research say?

Solving Your Dealer’s Attribution Confusion

How Dealers Can Track More Accurate Attribution

Solving Automotive Attribution Confusion by AutoHook

Sponsored PostThrough endless digital and traditional channels, consumer influence is happening both consciously and subconsciously as they navigate along a digital roadmap equipped with double-digit research touch points that follow no predictable path or straight line. This new age buying behavior makes attributing a sale to ONE source almost impossible.

While new and developing channels provide marketers with an abundant assortment of avenues to reach potential customers, the challenge of measuring the return on your investment (ROI) has become complex.

“Big data” is a widespread term used relentlessly in digital marketing across all verticals. But how can you (dealers) properly leverage big data to attribute a single sale to a single action?

Is it even feasible to attribute one sale to one ad source within the surplus of information available today?

Are Your New Car Specials, Really Special?

The Origins of Vehicle Specials Optimization

No New Car Specials

Nearly every dealer website provider offers a New Car Specials feature, so why is it NOT a big part of your marketing strategy?

Maybe because it’s like pulling teeth.

Whether you call them “New Car Specials”, “Offers”, “Deals”, “Incentives”, or just simply “Specials” chances are good you have a page dedicated to your best new vehicle offers and chances are equally good you’re not using it right. The idea here is to create a stand out offer that is unique to your dealership.

Your Service Department Isn’t Prepared for What’s Going to Happen

Postcards and Coupons ain't Cutting It

Let’s face it. Our Dealership Service departments don’t always have the best reputation. Too often, they’re perceived as being overpriced and pushy when compared to the trustworthy shadetree mechanic next door, the independent auto repair center down the street or even the Midas shop across from your office.

Connected Auto Apps and Consumer Auto Service Apps

On top of the ever-growing competition, most dealer service departments and service managers are years behind on a digital marketing strategy. Many are still dependent upon postcards and coupons sent by snail mail, from the manufacturer program.

Visit just about any dealership website and you’ll find the average amount of pages allocated to fixed-ops equals out to a whopping TWO.

The first being a clunky, hard to use “Schedule Your Service” feature that only works on a desktop browser. Forget mobile.

Two Important Goals for Long-Term Profitability

As multi-million dollar local brick and mortar businesses offering people a significant product and service, the expectations for what a dealer can and should be achieving must be high.

Keys to Long Term Profitability

While I believe that the majority of dealers do strive for excellence, one area where dealers are not exceeding expectations is with Social Media.

Considering that social media sites such as Facebook have caused a permanent shift in the way we live our lives, conduct business, and advertise, this is a problem that must be solved. The dealers that do solve it will have a huge competitive advantage.

How does this tie in with long-term profitability, you ask?