Enjoy this presentation by Larry Bruce at the last Digital Dealer Conference on his 7 Myths of How People Search For a Car Online.
Larry reviewed 35 hours of people searching for car online on video he came to some shocking revelations that dispell a lot of myths we have been told over the years about how, where and why people shop online for a car.
I would have been nice to have the audio along with this but im the sure the slide show here will give you enough to comprehend the just of it. And if I know Larry, if anyone has any questions, he’ll be around to help out.
A quick summary (Thanks Jay) 🙂
- 3rd Parties DO NOT have a Brand or a trust advantage. They don’t really even have an SEO advantage
- You’re going to get a lot further if you give visitors what they want, when they want it than trying to direct a bunch more people to your website and convert the same lousy %
- Internet users don’t play favorites with new or used cars and both convert equally
- Organic links do not have some magic hold over the customer and are very inconsistent when it comes to intent
- To make PPC really work, you must control all dimensions of the online marketing experience
- Split testing is the only way to consistent double digit conversion rates and constant improvement
- If you believe the internet is an influencing medium only, you may be joining some of the less fortunate car brethren no longer owning a store
- You absolutely can and should eliminate 95% of your dependence on 3rd Parties between you and your visitor/customer.
- Targeted PPC + Remarketing will pick you up to a 40%+ conversion ratio
- Integrating Channels is the right way to increase conversions into the 30% range
How people search – Presentation Transcript
1. 7 Myths about How, Where and Why people search online for a car and what they do when they get there VINSolutions Dealer Advisory Board Meeting Las Vegas NV 10.12.10 Larry Bruce President / CEO MicrositesByU.com @pcmguy.
2. PPC #1 way you can conquest new business for your dealership
3. What’s holding you back?
4. 7 Myths that have been heaped on us with little or no basis of actual behavior •People trust 3rd parties more than the dealer •Internet shoppers are price driven •The internet is better for used than new cars •Organic links are trusted more than sponsored •The long tail search phase •People will go online and just come into the dealership •You can’t compete with the budget of the OEM , AutoTrader or Cars.com
5. •Over 35 hours of video •109 users •436 searches
6. Myth 1: People trust 3rd parties more than the dealer
7. Myth 1: People trust 3rd parties more than the dealer Of the 26% that converted:
8. Myth 1: People trust 3rd parties more than the dealer Why did they convert there? This same scenario happened 86% of the time a user landed on a 3rd party site
9. Myth 1: People trust 3rd parties more than the dealer How did they get there?
10. Myth 1: People trust 3rd parties more than the dealer What would have happened if?… Number of Mustangs available What types are available How much they cost
11. Myth 1: People trust 3rd parties more than the dealer Version 2 payment
12. Myth 1: People trust 3rd parties more than the dealer Version 3 trade‐in
13. Myth 1: People trust 3rd parties more than the dealer Things you can do to your website / landing experiences to instill trust. Reviews used by 32% of the users tested •Put your eBay rating on your home page with a link to the ratings •Put your Google ratings on your home page with a link •Put your Yelp ratings on your home page with a link •Use some excepts from letters or surveys on your home page •Facebook Like button on your home page and in special pages and your blog.
14. Myth 2: The Internet is all about price It is actually about saving time and hassle – 1st Concern, do you have what I want? 28% of the time a visitor will search themselves right out of a car
15. Myth 2: The Internet is all about price It is actually about saving time and hassle – 1st Concern, do you have what I want? Volzauto before
16. Myth 2: The Internet is all about price It is actually about saving time and hassle – 1st Concern, do you have what I want? Volzauto After
17. Myth 2: The Internet is all about price It is actually about saving time and hassle – 1st Concern, do you have what I want?
18. Myth 2: The Internet is all about price It is actually about saving time and hassle – 1st Concern, do you have what I want?
19. Myth 2: The Internet is all about price It is actually about saving time and hassle – 1st Concern, do you have what I want? •1 click access to the most popular selling vehicles •UserTesting.com to find trouble spots in you conversion funnel •Crossbrowsertesting.com to find the breaks in code This has doubled Volz Auto Groups Lead Conversion Rate
20. How Split Testing Works Split Testing Platform
21. How Split Testing Works Split Testing Platform
22. How Split Testing Works Split Testing Platform
23. How Split Testing Works Split Testing Platform
24. How Split Testing Works Split Testing Platform
25. How Split Testing Works www.google.com/websiteoptimizer Split Testing Platform
26. Myth 3: The Internet is more suited to used cars than new Search testing found New & Used to be evenly split
27. Myth 4: Organic links are clicked and trusted more than sponsored links For pure purchase intent sponsored links converted 300% higher than organic links
28. Myth 4: Organic links are clicked and trusted more than sponsored links CarMax landing pages showed up in 33% of the searches that were performed in this test all sponsored links
29. Myth 4: Organic links are clicked and trusted more than sponsored links For pure purchase intent sponsored links converted 300% higher than organic links
30. Myth 4: Organic links are clicked and trusted more than sponsored links Organic traffic is inconsistent. You have no idea what the users intent really is other than 70% of the time they were looking for your dealership to do something The term Random access website refers to your main site where the users intent isn’t clear and there is a lot of navigation for them to get lost in the page shuffle
31. Myth 4: Organic links are clicked and trusted more than sponsored links Organic traffic is inconsistent. You have no idea what the users intent really is other than 70% of the time they were looking for your dealership to do something
32. Myth 4: Organic links are clicked and trusted more than sponsored links You will get higher conversions and better results out of PPC than organic SEO efforts but to do so you have to optimize at all 4 dimensions of online marketing Test‐Driven Marketing: •Geo‐location •Keyword / placement Making •Ad position agile marketing strategic •Landing / Conversion growth engine.
33. Myth 4: Organic links are clicked and trusted more than sponsored links Test Driven Marketing Ad Group Ad Split testing for Ad Ad Ad CTR Ad Split testing for Landing Landing Landing Conversion
34. Myth 4: Organic links are clicked and trusted more than sponsored links Test Driven Marketing Ad Group Ad Split testing for Winning Ad CTR Ad Split testing for Winning Conversion Landing
35. Myth 4: Organic links are clicked and trusted more than sponsored links A culture of constant imporvment Ad Group Ad Split testing for New Ad New Ad Control Ad CTR Ad Split testing for New New Control Conversion Landing Landing Landing
36. Myth 5: The long tail search phrase Yes in overall internet searches long tail search phrases 4+ words are 23% of the searches and do have higher intent. But in the car business this is not the case.
37. Myth 6: People are going to your site and looking at vehicles then showing up on your lot The internet is an “Influencing Medium”. If you believe that then I have other stuff I want to sell you
38. Myth 7: You can’t compete with the budget of the OEM, AutoTrader, Cars.com Yes at the local level you absolutely can and you absolutely should. Other contributing factors to the search •Location 54% •Product 80% •Avg number of searches 3.5
39. Myth 7: You can’t compete with the budget of the OEM, AutoTrader, Cars.com Yes at the local level you absolutely can and you absolutely should. Location 54%
40. Myth 7: You can’t compete with the budget of the OEM, AutoTrader, Cars.com OEM Involvement
41. Remarketing 23% Email Capture Rate / 37% Call Rate
42. Remarketing
43. Remarketing
44. Remarketing
45. Remarketing 12% Click Through Rate 17% Conversion Rate
46. Integrated Channels Honda CTR – 3% Conversion – 31%
47. Integrated Channels
48. Integrated Channels Budget ‐ $500 Honda Service for Schools www.supplies4kids.com Service Your Honda and Help a child with School Supplies! CTR – 7% Conversion – 23%
49. Integrated Channels Budget ‐ $200 CTR – 3% Conversion – 47%
50. Integrated Channels Important: Service your Honda help a child get school supplies http://bit.ly/4kids Haynes Honda donates $1 for each RETWEET Retweets – 1112 142 new followers Conversions – 115 last count
51. Integrated Channels
52. Summery •3rd parties DO NOT have a Brand or a trust advantage. They don’t really even have an SEO advantage •You’re going to get a lot farther if you give visitors what they want, when they want it the way they want it than trying to run a bunch more people to your website and convert the same lousy percentage. •Internet user don’t play favorites with new or used and they both convert just as easily. •Organic links do not have some magic hold over the customer and are very inconsistent when it comes to intent. •To make PPC really work you have to control all dimensions of the online marketing experience. •Split testing is really the only way to consistent double digit conversion rates and constant improvement. • if you’re one that believes the internet is an influencing medium then you may be joining some of our less fortunate car brethren that no longer have a store. •You absolutely can and should eliminate 95% of your dependence on 3rd parties between you and your visitor / customer. •Targeted PPC + Remarketing will pick you up to a 40%+ Conversion Ratio •Integrating Channels the right way increases conversions into the 30%+ range
