page contents Automotive Thought Leadership: Ralph Paglia: October 2015 My title page contents

Saturday, October 31, 2015

Top Blog Posts this Week - Automotive Digital Marketing ProCom

Top Blog Posts this Week - Automotive Digital Marketing ProCom

Top Blog Posts this Week

Automotive Marketing Articles and News

J.D. Power PowerDealer Data Driven Reporting
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Listed below are the Top 20 Automotive Marketing Blog Posts published during the past week on the Automotive Digital Marketing Professional Community... Each of these 20 Automotive Marketing and Sales Related articles deserve your attention, comments and readership! Please visit and read each of these articles to improve your understanding, strategy and tactical execution of automotive marketing and sales best practices.

Top Blog Posts 

Rank
1 Facebook Launches New Lead Ads – Good idea to try if you see high Mobile bounce rates

Facebook Launches New Lead Ads – Good idea to try if you see high Mobile bounce rates

Added by Brent Albrecht on October 30, 2015
2 Social Selling for Dealership Professionals

Social Selling for Dealership Professionals

Added by Kristin Huntley on October 27, 2015
3 4 Disruptive Strategies from Acquisition to Frontline to Smarten Used Car Ops

4 Disruptive Strategies from Acquisition to Frontline to Smarten Used Car Ops

Added by Jim Leman on October 29, 2015
4 Modern Car Buying: Steps To The Purchase In Today's Digital Marketplace (Infographic)

Modern Car Buying: Steps To The Purchase In Today's Digital Marketplace (Infographic)

Added by Ralph Paglia on October 27, 2015
5 Don't Ignore Me.

Don't Ignore Me.

Added by Paul Potratz on October 30, 2015
6 3 Keys To An Effective Lead Response Strategy (Infographic)

3 Keys To An Effective Lead Response Strategy (Infographic)

Added by Kendra Masters on October 22, 2015
7 Social Media Update with @SocialLittleMan

Social Media Update with @SocialLittleMan

Added by Joseph Little on October 28, 2015
8 3 Innovative Ways to Improve Your Dealership’s Customer Experience: Can I Have a Pedicure With My Oil Change Please?

3 Innovative Ways to Improve Your Dealership’s Customer Experience: Can I Have a Pedicure With My Oil Change Please?

Added by Larisa Bedgood on October 29, 2015
9 Mobile Marketing Ad Spend Now Gets Over 50% Of Digital Budget

Mobile Marketing Ad Spend Now Gets Over 50% Of Digital Budget

Added by Ralph Paglia on September 2, 2015
10 B2B Marketing in 2015: It’s Not All about Customer Experience

B2B Marketing in 2015: It’s Not All about Customer Experience

Added by sara callahan on October 26, 2015
11 GETTING A MOT TEST: WHAT TO EXPECT AND WHAT NOT TO EXPECT

GETTING A MOT TEST: WHAT TO EXPECT AND WHAT NOT TO EXPECT

Added by Satyajit Seal on October 29, 2015
12 Got data? 10 key digital metrics you MUST KNOW as an Internet Manager

Got data? 10 key digital metrics you MUST KNOW as an Internet Manager

Added by Big Tom LaPointe on October 23, 2015
13 This Week in Social Media with @SocialLittleMan

This Week in Social Media with @SocialLittleMan

Added by Joseph Little on October 21, 2015
14 5 Easy Moves To Double Your Traffic With Mobile SEO

5 Easy Moves To Double Your Traffic With Mobile SEO

Added by Alok Raghuwanshi on October 24, 2015
15 5 Reasons Why Your Dealership Needs Mobile CRM

5 Reasons Why Your Dealership Needs Mobile CRM

Added by Rick McLey on October 30, 2015
16 FTC Workshop Via Webstreaming is Friday October 30th at 8:30 AM Eastern

FTC Workshop Via Webstreaming is Friday October 30th at 8:30 AM Eastern

Added by Ralph Paglia on October 29, 2015
17 IAB Research: Digital Influence on American Car Buyers

IAB Research: Digital Influence on American Car Buyers

Added by Ralph Paglia on October 26, 2015
18 Automotive Zero Moment In Truth

Automotive Zero Moment In Truth

Added by Lenny Gomez on July 17, 2013
19 Apple CarPlay:  Overview

Apple CarPlay: Overview

Added by Rahul Paul on October 29, 2015
20 Fixed Operations Analysis and Optimization Using PowerDealer

Fixed Operations Analysis and Optimization Using PowerDealer

Added by Ralph Paglia on October 29, 2015

Tuesday, October 27, 2015

New Research Shows Digital Influence on American Car Buyers - Automotive Digital Marketing

IAB Research: Digital Influence on American Car Buyers - Automotive Digital Marketing 

IAB Research Reveals Digital Influence on American Car Buyers is Greater Than On Those Who Are Not In The Market...

    

IAB Certification Badges 

Did you ever wonder who sets the standards for sizing and file specifications for online display advertising so the same ads can be displayed across networks with millions of websites?

The answer is an international non-profit organization known as the Internet Advertising Bureau or IAB...
   
This highly respected industry association, the "Internet Advertising Bureau", has somewhat of an identity issue as far as I can tell because sometimes their name appears as "Interactive Advertising Bureau". Anyways, they are most commonly referred to simply as the "IAB" and they recently supervised, and subsequently audited an extensive research study involving over 19,000 American automotive consumers... Which is the focus of my article.

The researchers were able to identify and validate a smaller subset within this large group of 6,201 automotive consumers who intended to buy a vehicle within the near future. These car buyers identified themselves as being "in the market" for a new or used vehicle. The IAB research team refers to these car buying shoppers as "Auto Intenders".
   
These IAB supervised researchers conducted a custom analysis of the 6,201 people they identified as Auto Intenders... Which they defined as Adults 18 or over who answered yes to the question:
"Do you plan to buy/lease a car/truck within the next 6 months?"
    
The resulting report is derived from both the larger group of automotive consumers who were NOT in the market, as well as the 6201 respondents surveyed online who were identified as being true car buyers, or Auto Intenders. According to IAB the statistical validation and methodology used to aggregate all this data is the well regarded "Annual Media Behaviors and Influence™ (MBI) Study.
    
The data and the conclusions presented in the numerous charts I have inserted below were so well gathered, with a large enough sample size as to yield a standard deviation statistical analysis error rate of less than 1%... At a 99% confidence level.
     
Dang! I would be proud of ANY work I've ever done that came in with that level of statistical accuracy. What I see as most relevant to ADM Members is that this IAB research went through a ton of people to identify the most likely car buyers, and for most of us these are the people we are primarily concerned with... Along with what influences them and how people who are in the market for a car are different than those who are not "Auto Intenders".
    

You will notice on most of the charts (shown below), the influence and behaviors of both the car buyers and the non-car buying "General Public" are tracked and displayed.

 


The Executive Summary
(followed by the charts for those of you who are visual learners)
  

  • 14% of US adults plan to buy a car in the next 6 months
  • Half will buy new, one-third will buy used, rest undecided
  • Nearly two-thirds of Auto Intenders plan to buy a car
  • 1 in 4 say they're going to get an SUV
  • 2 in 5 say they want a truck
  • 1 in 10 report they intend to buy a minivan or Crossover 
  • Average prices Auto Intenders plan to pay are between $20,000 to $25,000
       
Auto intenders are young (half are under 35), male, married parents, ethnically diverse, higher earners who are more likely to be Business Owners or Professionals and more likely to live in the South.
      
Dream car delayed, but not denied... Many Auto Intenders say they have deferred their auto purchases in the past month (26%).
  • Most frequently deferred vehicle purchase were Crossovers (42%)
  • Auto Intenders are positive about their economic situation and ready to buy
  • Auto Intenders are more likely than general population to feel the US economy is strong (56%)
  • Auto Intenders report that their personal finances have improved compared to last year (38%)
     
Auto Intenders are more likely to do online research for products before buying (96%), especially cars (29%). While researching vehicles online, auto intenders are likely to be swayed by auto ads.  

Auto Intenders are more likely to be influenced by internet ads across all categories when compared to the general population... Car Buyers are 71% more likely to be swayed by automotive advertising they experience while on the web.
     
All media types influence Auto Intenders' vehicle purchases, emphasizing the importance of a good media mix that includes digital. While taking in various forms of media, these media often trigger Auto Intenders to do product searches online. They do searches for autos and are highly influenced by sponsored search results (twice as influenced as the general population). In other words, a magazine article or TV commercial might influence an Auto Intender to do an online search or research, where they're more likely to be influenced by sponsored search ads and other digital display ads. 
         
Auto Intenders are more likely to own a mobile device with higher smartphone ownership (75%) among Truck, Minivan and Crossover shoppers. Hybrid, SUV, Electric, Minivan or Truck shoppers are more likely to own a tablet (42%). Auto Intenders are more likely to comparison shop, online (34%) or on a mobile phone (14%) and to search using a variety of devices.
       
Auto Intenders are also heavier video streamers both online (69%), where they're more likely to notice a video ad (66%) and on their Mobile devices (52%), in which 8% report being influenced by mobile video, which is twice the purchase influence of General Population (Adults 18+).
          
Auto Intenders are more likely to do a wide range of online activities more regularly than the general population. Since Auto Intenders are more regularly online, and more likely to own and use mobile devices, the internet is the place to reach them across all their devices.
     

Ok, here are all those great charts from the research report that I promised...

    

Saturday, October 24, 2015

Why Should Your Dealership Join The PowerDealer Network?

Why Join The PowerDealer Network? - Automotive Digital Marketing 

Why Should You Join The PowerDealer Information Network?

PowerDealer
Right Data - Right Now 

THE Go-To Information Source for Running Your Dealership More Effectively

 


PowerDealer is a highly accurate and online source for analytical tools and decision-support products that enable your dealership to compare your operation to your market region; improve your dealership profitability; and help you make effective business decisions... The PowerDealer Program is endorsed and funded by most major OEM's and joining the network is at no charge for franchised U.S. based car dealers.









PowerDealer gives you the ability to…
Set a customized goal and threshold for up to 32 Key Performance Indicators (KPIs) to monitor your progress over time.
Dashboard


Find out how the KPIs your dealership is meeting or trending over a specific time period to evaluate how your business compares against marketplace trends.
Trends




PowerDealer gives you the ability to…
Identify model-level opportunities in your market. Are you stocking the right model lines? Is there a missed volume or gross opportunity?
Return on Inventory


Rank your dealership and compare your sales, financing, profit, and inventory performance by brand with dealers in the same market.
Average Deal Recap



PowerDealer gives you the ability to…
Track your sales on a map. See the classes of vehicles that are selling in specific areas and determine
the areas where you are pulling customers from your competitors.
Customer Sales Google™ Map

Integrate and understand the terms and rates from your lenders that help you close deals.
Financing/Leasing



PowerDealer gives you the ability to…
Select a specific used vehicle and see its sales performance during a selected time period in your area.
Appraise a vehicle you are unfamiliar with and determine if you should sell it at a retail or wholesale price.
Booking Tool – Select (or VIN)


Recognize which used vehicles are generating the highest sales return for other dealerships in your area.
Guidebook



PowerDealer Data Defined

Timely and reliable data that covers the market with:
  •  – Competitive Market View
  •  – REAL Transaction-Based Data
  •  – New/Used Vehicle
  •  – F and I Performance

 

 

Derived from real-time, transaction-level data for new and used vehicles from over 12,000 automotive dealership franchisees in North America...

  • Among the most accurate source of real retail pricing in the market today.
  • A unique quality-control process standardizes and validates sales figures.
  • Dealer-specific reports updated daily, available 24/7 via secure Web interface.
  • Strategic alliance with NADA promotes dealer interests.

Why Dealers Choose To Join The PowerDealer Network

Shown below are actual comments received from dealers currently using their PowerDealer online applications to better manage their dealerships...

"It’s terribly essential for a dealer to know the kind of information the Power Information Network provides. I depend on PIN data for numbers I can’t get anywhere else, certainly not from my manufacturers. I depend on PIN to show me how my store and people compare with other same franchises in my market, in real time."
"I use the Booking Tool quite a bit and find it good information. As a matter of fact it’s part of my normal appraisal process and all in all it’s quite helpful as a measuring stick with real life barometer than some other tools out there."
"I use PowerDealer all the time. I use the general data and marketing data to get a better snapshot of who our customers are." 
"I find the PIN reports useful in giving me a measure of what is selling in the marketplace. The UV tools are great! The data enhances our decision making process."
"I love the PowerDealer tool and use it weekly to better understand dealership performance. The KPI dashboards and the Google maps feature are most valuable to me. The new and used car trends charts are great as well."
"I use all the Power Information Network reports, but I concentrate on those that give me real time comparison numbers. Some of the reports, on both new and used deals, tell me if I am competitive or leaving money on the table. I recently altered my advertising because these reports showed my “Age of Buyer” was getting older and I was not reaching that critical younger buyer."

Are You a PowerDealer? Visit www.MyPowerDealer.com to find out, enroll or get more information.