Read Your Customers' Online Minds How to predict the market's future with today's online behavior & data
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1 Read Your Customers' Online Minds How to predict the market's future with today's online behavior & data With Jason Ezell, President of Dataium Moderated by Mike Bowers, Executive Editor at DealersEdge
2 Jason Ezell - President of Dataium Mr. Ezell is a highly respected and sought after speaker in the automotive industry, having spoke at Internet conferences and NADA 20 groups nationally, published author within leading industry trade publications, and consultant to multiple automotive dealer groups. Jason is known for his statistical approach to analyzing Internet user data to better understand how to sell cars via the Internet. Mr. Ezell is a member of the JD Power Internet Round Table, an NADA 20 Group Preferred Speaker and a Digital Dealer Conference speaker.
3 Predict Future Sales and Leads Based on Today s Shopper Data By observing and reporting on today s auto shopper s behavior, you can now foresee and forecast future car sales better than ever
4 Totally Unrelated Fun Fact It took the radio 38 years to reach 50 million users it took TV 13 years it took the web only 4 *more than 50% of all the people in the world have never made or received a phone call
5 Knowledge is gained through the analysis and aggregation of information, and data is the DNA of all information. Dataium is the largest aggregator of auto shopper online behavior and activity data collected from over 17 million auto shoppers and over a 300 Million behavioral events on our network each month and growing.
6 Overview of Session With each click, search, and submission consumers leave behind a valuable and insightful data trail about their habits, interest, and future behaviors. Dataium gathers this data via its proprietary visitor recognition technology, aggregates this data to produce new information and insight. Dataium delivers this new knowledge via user friendly web based and desktop business intelligence reporting applications.
7 Knowledge is Power Data comes from any on-line source, in a variety of ways and formats
8 Knowledge is Power Data from your own website is extremely valuable
9 Knowledge is Power Data must be aggregated from many sources to make good decisions Main Site OEM Site Portals MFR Site Micro-Site Local Search Ad Banner 1 Ad Banner 2 Data From The Outside World ; Where did your shoppers come from? What did they shop for elsewhere? How did they find you? How many come from each source What is my Shopper Overlap
10 Knowledge is Power One set of data can lead to false positives: When asked of a dealer where most of his leads come from, he replied 100% come from my radio advertising Only when we have a point of comparison do we know if we are succeeding or failing Know what to measure by defining your metric of success Use the right Ruler to measure that metric Look at different data sets to verify or validate findings Don t believe everything you hear
11 Knowledge is Power
12 Shopper Data VS Website Data
13 Shopper Data VS Website Data Auto Shopper Data: Vehicles looked at Key words used Time spent shopping Pages Leads submitted Sites visited Direct referral Indirect referral
14 Knowledge is Power 77% of auto purchasers are more receptive to behaviorally targeted ads 61% of auto purchasers are likely to notice behaviorally targeted ads while engaged in other on-line activities.
15 Knowledge is Power A new study from a group called the Network Advertising Initiative, or NAI, claims that behavioral targeting is more than twice as effective as nontargeted ads, and the inventory from behavioral ads is worth double that of their non-targeted brethren. The study found that 6.8% of people who click on behaviorally targeted ads turn into buyers, versus 2.8% of those who click on non-targeted ads.
16 Knowledge is Power What is the #1 most clicked vehicle BEFORE a shopper submitted a lead on a Honda Accord? CPO MERCEDES E-CLASS What can we learn from this Data? MBs make good Bait for Honda Accords Place Banner ads on MB searches Target key word searches
17 Shopper Data VS Website Data Dealer Website Data: Current Trends Average Visitors per site 2,920 Average Page Views per site 11,186 Average Bounce Rate per site 50.4% Average Bounce Rate from homepage 61.3% Average Bounce Rate from SRP 32.8% Average Words in a Search Keyword 3.21 Average Words in an Inventory Search 2.28
18 Shopper Data VS Website Data Dealer Website Data: Cool Stats The bounce rate from a SRP is almost half that of the home page People who enter the site through a SRP or VDP are twice as likely to send a lead, and in half the time
19 Shopper Data VS Website Data Auto Shopper Data: Cool Stats Search Percentages: New 35% Used 65% Avg page views per shopper 14 VINs viewed per shopper 6.02 However, 54% of buyers drive off in something other than what they submitted a lead on
20 Shopper Data VS Website Data Most Used Key Words: Dealer Only 43% Contains OEM and Model 23% OEM Only 13% Contains Dealer and Area 13% Contains Dealer and Make 7% General Categories Contains Dealer name 63% Contains OEM 37% Contains Model 30% Contains Area 13%
21 Data & Reports
22 Shopper Data VS Website Data Shopper Search Data: Cool Stats Less than 1% of searches contain the word dealer, dealership, or dealers 7% of all keyword searches contain the word price ***these shoppers send leads twice as often and in about half the time It took 188 key word combinations to find one that included OEM+Area, meaning Nissan Nashville
23 Shopper Data VS Website Data Auto Shopper Browser Stats IE v6-v % v9.36% v v v Chrome Firefox Mobile iphone 1.36% ipad Android...92 Opera..42 BlackBerry....37
24 Entry Pathways In-Site Referrer % Bookmark or Direct Link Google Organic Yahoo Bing Google AdWords Google Images Google Maps -.58 AOL -.49
25 Top Referring Domains - Direct Google.com 65% Bing.com 5% Yahoo Search 3% Facebook 2% Google.ca 1.7% Maps.Google. 1.3% AOL Search 1% Ask.com...78% Comcast Search..73% Autotrader.com.69% Cars.com...50% Ebay.motors..33% Local Yahoo..24% Yahoo Autos..19% Yellowpages.com..14%
26 Top Visited Sites by Auto Shoppers *Indirect Relationship Google 64% Facebook...52% Youtube..34% Ebay...25% MSN...21% Amazon.18.8% Autotrader.com.16% KBB 12% CNN...10% AOL..10% CarMax...9% Maps.Google.9% Cars.com 8% Myspace.7.9% Craigslist 6% Edmunds...5.5% Fox News...5.5% Ford.5% Bing...5%
27 Shoppers who visit any Automotive Portal anytime before visiting a dealer website are 3.8 times more likely to send a lead
28 Know What Entices Shoppers - Incentives
29 Know What Entices Shoppers - Price
30 Tracking Model Trends
31 Predictive Modeling What Cars Will Be Selling
32 Click Maps Show Exactly What Shoppers Use
33 React As Shoppers Shop Sell Self, Dealership, Brand Specific units, specials, comparisons Schedule Test Drive, map/directions, set apt. E-Brochures, vehicle details links, 3 rd party info Active, respectful, informative follow up
34 Knowledge is Power 85% of customers made up their mind to purchase a vehicle before they left their house. 78% of customers who visit your showroom buy a vehicle somewhere. 38% of customers purchase within 4 hours of visiting their first dealership. 57% of consumers purchase within 3 days of visiting their first dealership. 90% of customers purchase within 1 week of visiting their first dealership.
35 Knowledge is Power 71% of customers say they bought their vehicle because they like, trusted and respected their salesperson. 50% of customers said they bought on the spot when they got what they felt was a good presentation and demonstration.
36 Knowledge is Power The 2009 Sales Satisfaction Index (SSI) Study finds that more than 85% of consumers say their salesperson DID NOT control the sales process, build any rapport or interviewed their shoppers. 88% of customers said they received a poor presentation and/or demonstration.
37 Knowledge is Power The 2009 Sales Satisfaction Index (SSI) Study finds that more than 1 in 5 shoppers who leave a dealership without purchasing do so because they experienced poor treatment or dealer performance issues; pricing games, sales pressure tactics or discourteous treatment. While 43% of these buyers ultimately purchased from a different dealer of the same brand 57% decided to purchase from a different brand altogether
38 Knowledge is Power This new knowledge allows your dealership to: Anticipate consumer demand by make, model, trim level, color and more Align sales, marketing, and promotions to individual consumer shopping behavior Benchmark online performance across multiple websites, nationally, by region, by market, by dealer, by competitor Never miss a lead, score leads by propensity to purchase, and more Instantly test website compliance changes, promotions, sales events, and more for effectiveness Know which websites generate the most leads by make/model, region, market, dealer Define consumer buying behavior by VIN number, make/model, body style, and more
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