By: Steve Lausch, Director of Product Marketing
A strong dealership marketing strategy considers where customers are at every point in the buying process. Dealers tend to target shoppers in the “top of the funnel” stages of awareness as well as those progressing through “mid-funnel” stages of consideration, but the truly successful dealers will have a strategy that addresses the entire shopper- spectrum via funnel advertising.
One of the major opportunities dealers have today – and one that so few are taking full advantage of – is the ability to target low-funnel buyers who have literally exposed their intent via online search. What if your dealership could target these consumers on the search engine results page (SERP) by serving up immediate inventory-specific advertising around their vehicles of interest? Since these are shoppers who already know what they want and are nearly ready to purchase, the benefits are deep and wide.
According to the McKinsey report, a consumer will visit a dealership 1.6 times prior to making their purchasing decision. What they find online, especially in the latter stages of online research, determines where they’ll end up. Here’s the bottom line: With the right technology, you would have the power to identify and literally “pull” customers into your sales funnel – just as they are deciding which dealership to visit.
“ … with the right technology, you would have the power to identify and literally “pull” customers into your sales funnel – just as they are deciding which dealership to visit.”
As we say at Dominion, “The perfect customer is someone in the market now for a vehicle that is in your inventory.” So, how does the perfect customer behave online? She finds and invests time on VDPs. Our dealers are seeing 1/3 of all VDP views originating from this inventory-specific advertising. And once on a VDP, we are seeing shopper time on site double and bounce rates cut in half. These are marks of serious shoppers – perhaps shoppers that were never on your radar. Not only are they found before they visit the store down the street, they are likely to select your dealership as the one to visit first.
Of the thousands of online vehicle searches performed every day, low funnel shoppers characteristically use long tail search terms. Take, for example, “2012 Honda Civic EX with navigation.” Rather than being turned off by dealership advertising, shoppers are delighted when their top SERP option features the very 2012 Honda Civic EX (with navigation, of course) for which they were looking. If this were your ad, upon click-through the shopper would be directed not to a 3rd party site, where you would then have to win the click against your competition, but to that specific VDP deep within your own website.
“… [pay] only for true, unique shoppers visiting your website. It’s a lower cost with significantly greater benefit – setting the stage for serious ROI.”
Serious Return on Investment (ROI)
On third party lead generation sites, dealers can pay regardless of the number of views and leads generated. In ad-based models, dealers may pay for impressions. In VDP-oriented business models, dealers pay for VDP views, even though shoppers are likely to return to the VDP via the same ad. In each case, the dealer is charged for traffic that fails to focus on the unique shopper. The answer is paying only for true, unique shoppers visiting your website. It’s a lower cost with significantly greater benefit – setting the stage for serious ROI.
This is only the surface of the value built into Dominion’s VinVelocity.
If you have yet to take a close look at the power of VinVelocity, contact us today. After all, low funnel shoppers have been searching online as you’ve been reading this article. Isn’t it time we help you capture them?