First, Here’s Why You Should Benchmark Behavior
Dealerships spend a lot of money to drive traffic to their dealership, sometimes as much as $500,000. A greater amount is going toward capturing the attention of car shoppers who are turning more to online resources to find a new car — and a place to buy that car.
NADA shared some interesting facts to support the importance of digital marketing:
- 90% of customers do their own online research
- 56% who show up on your lot were already online and chose to visit you
- 19 of the 24 car shopping touchpoints are digital
If you Google “NADA 2017 Review,” you can download the PDF as seen below.
When all strategies are added up, the average marketing cost per car sold is $629.
You can drive that cost down by understanding how car shoppers behave on your own website.
You Get Them to Your Site. Do You Know What They’re Doing?
You’re driving people to your website.
What are they doing once there?
You need to have a plan to …
- Increase opportunities to get more calls and leads
- Prioritize pages that aren’t converting despite a lot of traffic
It may seem like these two points are the same, but they’re not. You shouldn’t prioritize only on calls and leads. There are many macro- and micro-conversion goals you can set to effectively measure your efforts. We explain more of what those are right here.
You can even get insights from your best-performing pages, then test different features that may contribute toward their success.
Now, Task Your Vendor or Manager with Benchmarks.
Task your internet sales manager with benchmarking your site’s average conversion rate, so you can compare that number to your macro-conversions to see if you’re creating the leads.
If you work with a vendor, they should be able to give you an industry perspective by leveraging their entire dealership network to show what true, data-driven averages and thresholds are. If they can’t, consider a new vendor.
The wider the network, the richer the data. And you can get a better view of where your opportunities are for increasing conversion.
If you or your marketing partner don’t have conversion benchmarks, let’s chat.