Incentivized Leads result in buy rates two-times higher than non-incentivized leads. That’s something to really think about.
AutoHook, an industry leader in understanding and influencing shopper decisions, and Polk (IHS), a premier provider of automotive information and marketing solutions, today revealed initial results of their strategic partnership.
Sales registration results of the partnership show that the combination of Polk Lead Scoring and AutoHook incentivizing service is delivering an average buy rate of 47 percent, compared to a buy rate of just 28 percent for non-incentivized leads.
The newly publicized results are based on over 170 participating dealers that are utilizing Polk’s Lead Scoring platform. Over 120,000 leads have been scored for targeted incentives through the partnership with HookLogic AutoHook.
Polk Lead scoring has been the topic of discussion here on DealerRefresh many times. Whether you side with Lead Scoring or not, it’s hard to deny the results it returns for dealers when integrated in with a service like AutoHook. Great data, isn’t so great until you do something actionable with it, like using it to turn more leads into more showroom ups and more sales.
- Are you using data to help determine if your next lead has a higher potential to buy or are you still winging it?
- Once you’ve made the determination in which customers have the highest potential to buy, what are you doing to get them in the door?
Follow the jump for the official Press Release..
According to David Metter, president of automotive for HookLogic, “We immediately saw the value in combining Polk Lead Scoring with our Lead to Show product. By sending incentives to the most likely to purchase prospects identified by Polk Scores of 7 or above we are delivering the best car shopping prospects into participating dealer show rooms. Based on the success of this partnership program, we have a goal of expanding the integrated offering to over 2,000 progressive dealers by the end of 2013.”
A closer look at sales from HookLogic shows that 25 percent of incentivized leads bought the intended make, which is more than twice the buy rate of non-incentivized leads (12 percent). “Our data shows that the combination of the Polk Lead Score with HookLogic incentives is working for dealers,” said Brad Korner, vice-president of Polk’s automotive retail solutions.
“Based on these initial findings we are planning on doing a more in-depth case study with several dealers that have been using the HookLogic/Polk solution to further demonstrate the effectiveness of this program for dealer internet lead conversion.”
About HookLogic’s Incentive Solutions for the Auto Industry
HookLogic is the industry leader for understanding and influencing shopper decisions to win the Moment of Truth. HookLogic solutions are easily implemented, work with nearly any marketing medium and enable end-to-end reporting and optimization. Headquartered in New York City, the company has offices in Ann Arbor, MI, Atlanta, GA and Manchester, UK. Clients include many of the top 10 dealer groups, DCH, MileOne, Jim Ellis, Jeff Wyler, Germain Motor Cars, Suburban Collection, Acton Toyota, OEM, agencies, and vendor partners. Learn more at http://www.lead2show.com.
Polk is the premier provider of automotive information and marketing solutions. The organization collects and interprets global data, and provides extensive automotive business expertise to help customers understand their market position, identify trends, build brand loyalty, conquest new business and gain a competitive advantage. Polk helps automotive manufacturers and dealers, automotive aftermarket companies, finance and insurance companies, advertising agencies, media companies, consulting organizations, government agencies and market research firms make good business decisions. A privately held global firm, Polk is based in Southfield, Michigan with operations in Australia, Canada, China, France, Germany, Italy, Japan, South Korea, Spain, the United Kingdom and the United States.