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Tier 3 Automotive Marketing
ADVANCE OHIO
September 2016
Steve Erne
2
Subprime Car Loans on the Rise with longer terms being granted
Sources: http://sanfrancisco.cbslocal.com/2016/08/24/consumerwatch-used-car-prices-soar/
2.9%
New Car Sales Have PeakedCleveland SAAR sales is down 2.9% over 2015
11.4%
Inventory levels are up 11.4% YoY
9.6%
Average Manufacturer Incentives are up to 9.6% of MSRP
1 OUT OF EVERY 3 NEW CAR SALES IS A LEASE which residually puts more newer used cars in to the market and drive prices down
Subprime Car Loans are on the RISE with longer terms being granted.
IS THE AUTOMOTIVE BUBBLE READY TO BURST?
3
• Have a plan to monetize data across departments
• Executive marketing strategies that are in line with what your sales dictate
• Gain competitive advantage by creating experiences along the customers journey
• Market Share is zero sum game, not everyone will win
Tier 3 Auto Plans for the future
KEYS TO PROGRESSIVE — FORWARD THINKING
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OUR PROCESS — MAXIMIZING YOUR DATA
VIDEO
SOCIALMEDIA
DISPLAY
SEARCH
DEALER CRMDATA
DEALER WEBSITE
DATA
ADVANCE 1ST & 3RD
PARTY DATA
ADVANCE OHIODATA MANAGEMENT
PLATFORMIDENTIFIED TARGETS
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Repeat Customers – 60% of monthly salesCRM matching to digital devices for personalized targeting across mediums used most• Lease Renewal Campaigns• Ownership Length (2+ yrs) with Loan Equity
Campaigns• Ownership Length & High Mileage Campaigns• Additional Household Vehicle Purchases
Ex: 700 Customers with 2+ years of ownership and equity
=> 200 take advantage of oil change offer online
=> 40 test drive the new model while waiting
=> 10 buy new car with same payment
=> 5 trades re-sold
Attainable ROI ≈ 7:1 (CRM Match Back)
SALES STRATEGY #1 RETENTION
Gets timely service offer
delivered on phone to come
into dealership.
SALES STRATEGY #1 RETENTION
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Mercedes C-Class+4k equity
Dave (35)
CURRENTLY DRIVES:
DIRECT OFFER
Test-Drive for a day.
Test-Drive for a day.
Also offered same or
lower payment on the newest Mercedes
IN-STORE OFFER:
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Referral Customers – 20% of monthly sales
SALES STRATEGY #2 REFERRALS
We must tap in to the network of your customer database• Personal Network – Auto Intender
Campaigns• Look-a-like Affinities – Auto Intender
Campaigns
Ex: 4,000 loyal customers matched online 12,000 look-a-like targets in their referral network Þ 3,000 targets in market within 180 days
Þ => 10% convert to leads each month
Attainable ROI ≈ 5:1 (Web Analytics Attribution)
+
FRIENDCurrently searching for family SUV’s – 30-90 days outs
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SALES STRATEGY #2 REFERRALS
GMCProud Owner and Loyal Customer
Sarah (40)
CURRENTLY DRIVES:
LARGE SOCIAL NETWORK
OF FRIENDS & FAMILY
SARAH’SSOCIALMEDIA
NETWORK
CO-WORKERlease is up in 3 months, competitive brand
FRIEND OF A FRIEND reached thru customer testimonial on social media
TARGET LOOK-A-LIKES
IN NETWORK
L O O K - A - L I K EO N - L I N E B E H A V I O R S
+
+
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SALES STRATEGY #3 NEW CUSTOMERS
CRM Prospect Re-Engagement Campaign• Recent prospects still in 90 day path to purchase• Previous prospects again showing online auto
behavior
Physical Behavior Targeting Campaign• Devices who have been in competitor dealer
locations
Online Behavior Targeting Campaign
• Targeting people on your site, manufacturer sites, and 3rd party lead provider sites within 30 days
Attainable ROI ≈ 3:1 (CRM Match Back, & Web Analytics Attribution)
New Customers – 20% of monthly sales
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Be Known in Your Backyard
SALES STRATEGY #4 LOCAL MESSAGING
There are 750,000 adults within a 20 mile radius of your dealership, but 735,000 of these are not in the market for a car!
We must still brand your dealership to them because:• 2% drive a Buick now• 3% drive a GMC now• 64% currently drive competitor
make/models
ROI ≈ high funnel awareness
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Service is the future! CRM matching to digital devices for personalized targeting across mediums used most• Inactive Customer Campaigns
o Engage inactive service customers who use aftermarket quick change shops
o Show expertise around new car maintenance, convenience
o Tire Match guarantees
• Increased Profitable ROs with known mileage/age targetingo 75,000 or 100,000 Mile Maintenance Campaigno New Tire Campaign based on known mileage
Attainable ROI ≈ 3:1
SERVICE STRATEGY INCREASE R.O. VOLUME
Re-purchase rates at 40% higher among loyal service customers
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Key Performance Indicators to Track Success• CRM match back sales• Offer redemptions• Website traffic & session increase• VDP’s• Leads• Appointments• Calls
TRACKING AUTO BUYER INTENT
To gather data, we’ll use the following:• UTM codes• Web pixels• Google Analytics
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BUDGET RECOMMENDATION
Data Management Partnership: $XXXX/mo• CRM Ingestion and Data Enrichment• Building 1st Party Dealer Database• Tracking Pixel, Google Analytics Goals & Reporting
Digital Media Spend towards outlined strategies: $XXXX/mo• Retention Strategy: 20% • Referral Strategy : 25%• New Sales Strategy : 30% • Local Brand Strategy : 15% • Service Strategy: 10%
Foundational Digital Lead Capturing: $XXXX/mo• SEM XXXX%, SEO XXXX%
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NEXT STEPS
Pre-Launch:• Signed NDA with AO• CRM Ingestion & data segmentation• Database enrichment and analysis• Pixels placed on Dealer website pages and email
communication• Google Analytics/ Adword access given to AO• Google Analytics goal setup• Social Media access given to AO• AO to receive access to creative assets
Ongoing:• Creative development and optimization• Weekly status reports on each campaign• Monthly reporting and analytics• Database POS match-back
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AUTO DEALERSHIP CASE STUDYTURNING YOUR WEBSITE IN TO A LEAD
ENGINE• REDUCING RELIANCE ON 3RD PARTY LEAD PROVIDERS• CONQUEST TIER 1 AND TIER 2 MANUFACTURER EFFORTS • HIGHER QUALITY BRAND LEADS
28.5leads per month
4.4% close rate
108
new cars sold/month
Before AO 6 months with AO 12 months with AO• Site had more than 180
leads from the website
• 14% close rate• 320% growth in site leads
• Site had more than 71.4 leads from the website
• 6.4% close rate• 117 cars sold/mo
• Site had more than 28.5 leads from the website
• 4.4% close rate• 108 cars sold/mo
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A SEARCH ENGINE MARKETING STRATEGY ABOVE THE REST
Sources: http://www.datamentors.com/blog/10-social-media-strategies-car-dealershipshttp://www.performanceloyalty.com/resources/news/120326_HardFacts_whitepaper.shtml
D E A L E R B
Both targeted keyword groups around specific terms, as well as manufacturer and dealership brand names, but Dealer B outperformed Dealer A despite spending 41% less each month.
How is this possible?
• Website Sessions
SEM Strategies• Targeted
Keyword Groups• Manufacturer
and Brand Names• Dynamic
Inventory• Active Budgeting
& Responsible Bidding
• Hands On
• Paid Search Spend
• Other Lead Conversions
• Total VDP Goal Conversions
• Cost per Vehicle Detail Page
3,389
$10,000
106
1,643
$6.60
4.357
$5,820
716
2,084
$4.25
D E A L E R BD E A L E R A
D E A L E R A Used a manufacturer approved vendor for their SEM campaign.
D E A L E R B Worked with Advance Ohio.
DEALER B Outperformed
DEALER A despite spending
41% less each month.
17
Thank you.
Steve Erne