Jeremy Anspach: How to Maximize Inventory Conversion from Search to Showroom

How to maximize Inventory Conversion from Search

to Showroom.Jeremy Anspach

Page 41

Searchto

SHOWROOMPresented by: Jeremy AnspachCEO / Co-Founder of PureCars

/ Passionate about the car business since age 3/ Twin boys Noah and Eli in training/ Live in Charleston, SC

PureCars Mission:To provide more relevant information to improve the car buying experience.

Founded PureCars in 2007

/ INC. 5000 Ranked #141

/ Fastest-Growing Automotive Company in the Country

/ Featured Cover Story in Digital Dealer

/ Google Partner that is Philosophically Aligned

It is now a digital world…

24Sources

1.4Visits 11

HOURS

97%

Compared to 18 from ZMOT 2012

Spent online shopping for a pre-owned vehicle

To the dealership prior to purchase, compared to 4.5 visits in 2007

Consumers shopping online prior to purchase

Consumer Behavior

has Changed.

Adults 18+ Media Consumption

Internet

TV

Radio

Traditional Media

39.8%

36.5%

13.2%

5.4%

2012 Ad Spending Share of US Automobile

Dealerships, 2012

Consumer behavior Dealer behavior / 2012

Adults 18+ Media Consumption

Internet

TV

Radio

Traditional Media

39.8%

39.5%

13.2%

5.4%

2012 Ad Spending Share of US Automobile

Dealerships, 2012

Consumer behavior Dealer behavior / 2013

80%Digital Allocation by 2018

Search is part of our lives.

It’s not rocket science.

Organize the world’s information and make it universally accessible and

useful.

Google’s Mission:

RELEVANCY

Google Dominates

with 69% Market Share

17% - Bing

10% - Yahoo

Organize the world’s information and make it universally accessible and

useful.

Google’s Mission:

RELEVANCY

Advertising Platform

Google AdWordsVertical Agnostic

Campaigns (new, used, service, etc.)

Ad Groups (model)

Ads

Keywords

Rank#1_____________

#2_____________

#3_____________

#4_____________

#5_____________

Rank = bid x GQS

It’s not just about the bid.BID X GQS = HIGHER RANK

Right Approach?

What do you wantto market?

Whole lot?

Photos & Price

Photos & PricePriced Below Market

IN DEMAND

$$$$$$$Ideal to MarketSales Efficiency, Margin,

Etc.

WHERE do you wantto market?

Right Approach?

Sold Data

Market DataPump In / OutSales Efficiency

CRM Data4 leads = 1 sale

25 leads = 1 sale

10 leads = 1 sale

Selling Opportunity Estimation….A little math

WHO do you market to?

Right Approach?

Research

“Best gas mileage…”

“Best truck under $50,000…”

“Reviews…”

BROWSING

“Best Honda accord price…”

“Honda accords for sale…”

"Reviews..."

BUYING

“Black Honda Accord with Leather…”

“Used White Chevy Truck 4x4…”

“Black Honda accord for

sale…”

Desktop vs. Mobile

47% of all automotive search queries come from mobile

Source: Google Internal Data.

Mobile Search is Critical During the Shopping Process

Source: Google/Compete/Polk, Auto Buy Flow Study, June 2012

44% Use their device for price comparison on

the dealer lot.32% Use their

smartphones to find a dealership.

36% Use mobile for

contacting dealerships.

46% Check inventory

in stock.

48%Looked up dealer

information.

$$$$$$$$$

BUYINGBrowsingResearch

$$$$$$$$$

Probability of a Sale

$$$$$$$$$

MobileTabletDesktop

$$$$$$$$$

Probability of a Sale

HOW do you market?

3D Targeting

color trim certified

YMMTpaymen

tmobile

Shopper’s Request

Used BlueUnder $20,00

0Camry

Shoppers Request


0Camry


0Camry

Shoppers Request

White ChevyLow

MilesTruck

Shoppers Request

White Chevy Low MilesTruck

Shoppers Request


Shoppers Request

Toyota SUVPrice/

Payment

Deals

Toyota SUVPrice/

Payment

Deals

Shoppers Request

Toyota SUVPrice/

Payment

Deals

Mobile SEM

Resu

lts

Relevance

How SHOULD it be?

Searching for… Used Chevy Tahoe LTZ

Make? Trim?

Make? Model?

Trim?

Car? Make?

Model? Trim?

Searching for a Used BMW X5 with Third Row Seat

Options?

Trim? Options?

Options?

Searching for a New Chevy SUV

Options?

Trim? Options?

Options?

Land them on a Relevant Device Optimized Page

Options?

Trim? Options?

Options?

How do I track ROI?

ROIIMPRESSIONS

CLICKS CONVERSIONS (Relevant Page)

Phone Web

ImpressionsImpressions

Inventory / Keyword Buy

Search Demand

Budget Geo

Impression ShareImpression Share

Budget

Geo

Demand

ClicksClicks

Ad Messaging

Dealer Brand Equity

Rank Freq.

Quality ScoreRelevant Ad

Relevant Landing Page

Good CTR

Higher Rank Lower Cost

ConversionsFunnel of Keyword Buy

Landing Page Relevancy

Merchandising

Photos $$ Recon

KPI NoiseLeads only come from 1% of web shoppers.

Photos

Display ads further sweeten the pot

Note: among respondents who recalled all 15 brands tested without being provided a list of the 15 brandsSource: iProspect, “Real Branding Implications of Digital Media – an SEM, SEO and Online Display Advertising Study” conducted by comScore Inc., Nov 2, 2010.

organic search listing

paidsearch listing

4%increase in likelihood to purchase

6%increase in unaided brand recall

online display

ad300 x 250

Paid search reaches people you wouldn’t reach organically

Source: Incremental Clicks Impact of Search Advertising, Google, July 2011: http://googleresearch.blogspot.com/2011/07/studies-show-search-ads-drive-89.html

Paid

Organic

Organic clicks rise, but only slightly

Not enough to recover the lost paid clicks

Organic

88% of clicks are lost on average for automotive advertisers

Paid and organic search better together

Note: among respondents who recalled all 15 brands tested without being provided a list of the 15 brandsSource: iProspect, “Real Branding Implications of Digital Media – an SEM, SEO and Online Display Advertising Study” conducted by comScore Inc., Nov 2, 2010.

paid search listing

organicsearch listing

16%increase in likelihood to purchase

6%increase in unaided brand recall

Retargeting Synergy

Retargeting

2. Adobe CMO.com

Dynamic Display Ads& Dynamic Headlines

VDP Matching

How much should I spend?

Probability

ProbabilitySource Leads Spend CPL Sales CPS

Direct Mail 57 $48,900.00 $857.89 4 $12,225.00SEM 414 $13,800.00 $33.33 87 $158.62

Source Leads Spend CPL Sales CPSDirect Mail 88 $36,800.00 $418.18 3 $12,266.67

SEM 930 $47,200.00 $50.75 145 $325.52

Source Leads Spend CPL Sales CPSDirect Mail 10 $15,000.00 $1,500.00 1 $15,000.00

SEM 603 $29,500.00 $48.92 88 $335.23

Source Leads Spend CPL Sales CPSDirect Mail 45 $36,800.00 $817.78 6 $6,133.33

SEM 611 $28,400.00 $46.48 129 $220.16

Store A

Store D

*Note, SEM sales are a combination of website forms and calls generated.

Store C

Store B


Fixed Budget?

THINK ECOMMERCE

Dominate Traditional? (ZMOT)

Competitor Wins. Web


THINK ECOMMERCE



Fixed Budget?

THINK ECOMMERCE


Competitor Wins. Web

Implementation OptionsD.I.Y

Agency Tech Platform (Automated)

Agency Integration

Who, What, Where, Why?

Questions?

WANT A FULL DIGITAL REVIEW? TALK TO US AFTERWARDS!

Jeremy Anspach: How to Maximize Inventory Conversion from Search to Showroom

Automotive

Transcript of Jeremy Anspach: How to Maximize Inventory Conversion from Search to Showroom