The 2018 Big Data Landscape: You Can't Run & You Can't Hide

by David Metter

Every New Year is accompanied by a revitalized, fresh new wave of energy. It’s exciting to hit that reset with button with a renewed sense of faith as we reassess our goals and make changes to be better. I believe 2018 in particular will be a year of overflowing opportunity, unlike any other. I say this because when it comes to both digital marketing and dealership operations, we’re starting off the year with a very powerful weapon that will eliminate instances of both assumption and uncertainty.

A calm quiet will take over the imperious noise of opinion. It will shatter the fear of the unknown and replace it with the confidence of proven science. Instead of basing decisions on what you think, you will improve your business by what you know.

Data is what is known. Data is rooted in science and in proof. Data is truth. And let me be clear, there is no escaping the truth that your dealership’s sales data will bring to the surface once it’s seen from all angles. Believe it or not, the value of the data that lives within your CRM and DMS has infinite potential to improve the way you operate. It’s all about looking at that data through the right lens in order to get a new, better, multidimensional view.

At Urban Science, we’re incredibly fortunate that we can take the data that resides in your dealership and break it down into 4 simple buckets that you can actually wrap your heads around, so that you and your vendor-partners can take real action.

1. Lead Source
2. Model
3. Geography
4. Salesperson

Because of the sales data we get every single day, we can infuse both sales and defection trends on top of every lead that hits your CRM in near real time. Not only do we look at the sales within any given dealership, but we also look at the sales that happened outside of that dealership. Then we use that data to evaluate trends, triumphs, and defeats within their processes, related to the four buckets listed above. That last one (salesperson performance) is especially exciting. Never in my career has there been a way to look at the true effectiveness or ineffectiveness of a dealership’s salespeople.

All of a sudden when you can see your data from this utopian, comprehensive perspective, you start to also see what you’re losing within the opportunities that you PAID for, driven by the traffic hitting your CRM. When you can see trends of effectiveness or ineffectiveness (success and failure), you then have the power to make changes that will make you better in all four of those buckets. Whether you’re working with a training organization, adapting to new advertising initiatives, or even changing pricing within your inventory, you can start making decisions based on factual truth, which will ultimately benefit all parties involved.

So instead of running your business hindered by fear of the unknown, the right data will give you the power to flourish in the light of certainty. Until now, dealers have been lost in the dark when it comes to the trends or holes in their processes simply because of a lack in the quality of sales and defection data at their disposal.

I’d also like to make it very clear that CRM and DMS companies are NOT at fault because they do what they do really well. It’s just a matter of infusing the right information into your system, much like what you see with data and analytics companies that integrate into Salesforce, the largest CRM company in the world.

As you set new goals and make changes for 2018, remember that data doesn’t lie and not even your #1 salesperson can hide from it. Data has proven time and time again that all those leads in your CRM who are marked as “did not buy” actually did purchase, and in addition, we know what they bought, when they bought, and where they bought. That information becomes super powerful – sometimes more powerful than we can even understand. I look forward to spending 2018 spreading that power across this industry so that we can all reap the benefits of the bigger, better picture.

What Dealers Don’t Know About Their “Best” Salespeople

by David Metter

As it turns out, what you don’t know about your salespeople can hurt you. I am not sure why, but we don’t often associate analytical tools as the best way to measure the performance of the people we hire to connect with our customers and build lasting relationships. I’m a common sense guy, so if my staff is hitting their numbers and selling cars, there’s really no reason for concern or to take a deeper dive into the opportunities they’re working…right? Not necessarily.

What I’ve come to accept over the last few years is that when good data is presented in a way we can easily understand, it has a tendency to challenge everything we “think” we know about selling cars. Too many of us think that we are the “Presidents of the I Think Club.” I learned that from one of the truly smart guys in the car business, Gary Marcotte, over 10 years ago and I've never forgotten it. 

Dealers have always been able to see their close rates, or how many opportunities each salesperson successfully converted into a vehicle sold. But there is an entire other half (or I could argue 2/3) of the story they haven’t been getting – and that’s how many opportunities they didn’t close and purchased a car from someone else – or in other words, their defection rate. When you layer in data that shows defection rates to competing dealers or brands in your market, it gives life to a story we’ve not only never been able to see before, but one we never even thought to look at before.

I sold cars for seven years, spent years as a sales manager, then the General Manager of a dealership and I eventually became the CMO of large dealer group with 1,100 salespeople to account for. It would have been impossible to analyze every opportunity every person in our organization touched – so the first time I saw this data in action I was blown away.

Take a look at the graph below. The blue line shows how many cars each individual sold during this 3-month time frame. The gray lines show you the number of opportunities that salesperson touched that went on to buy from someone else – whether it was a same make competitor in your market (light gray) or from a competing brand (dark gray).

In this example, this dealership thought that John was one of their best salespeople. But when you look at your CRM data with a 3-dimensional lens and layer that lost sale (defection) data on top of it, you start to see the true story behind your “all-star” players. You see how many opportunities John touched that went on to purchase from your competitor down the street or from a different brand entirely.

In reality, Jordan is this dealer’s best salesperson. Based on the opportunities he was working, he sold substantially more than he lost. In fact, out of everyone, he lost the least amount of opportunities. So success doesn’t always translate to selling more cars than you did last month. It can also mean losing fewer opportunities to competitors.

Here’s another example. The screen shot below shows the actual effectiveness of a salesperson as they compare to the dealership overall. So in this case, Jim may only be selling 8 cars a month, but because he’s not getting all the opportunities, his effectiveness is 149% - meaning he’s outperforming based on the leads he’s getting. Bill on the other hand might be getting way too many opportunities and he might look like one of your best sales people, but he’s really only about 47% effective towards closing everything he touches.

Your best salespeople are the ones who consistently deliver HIGH close rates and LOW defection rates. But you need that defection data to see who your real winners and losers are. Think about it like this, a pitcher that has a lot of saves, but has equally if not more blown saves, doesn’t really help the team. Or if a starting pitcher has 10 wins but has 14 losses, is he really a great pitcher? If you only looked at saves or wins, you might think so but when you can see everything at once, the story changes. This is the same sort of comparison.

Keep in mind that if a salesperson has a high defection rate, it may not always be their fault. Maybe they’re being assigned far too many leads than any one person is capable of handling. Or the types of leads they’re working come from providers with low overall close rates. There are all these other factors involved. But those are topics for a different day.

If dealers look at their business through this new lens, they will start seeing trends of opportunity and loss that they can’t see by just looking at their own data and what happens within the four walls of their dealership. In order to determine true success or failure you also need to look at the sales effectiveness outside of your dealership.

HOW TO SELL CARS IN 1939: Uncovered Documents Reveal Not Much has Changed…

by David Metter

Could it be possible that the secret to selling cars in today’s multi-touch, exponentially data-driven society is exactly the same as it was prior to World War II? I know what you’re thinking. This is either a huge stretch or some sort of joke. However, recently uncovered sales training documents dating back to 1939 tell a very unexpected story that directly parallels the fundamental methods dealers need to sell more cars today.

This handbook published by General Motors in 1939 on how to manage new car sales was recently passed along to me, and as I read through it, I was completely blown away. I think anyone who has been in the car business for a while will appreciate this…

It states, “The sales manager must have a keen desire to check such things as the number of people buying competitive cars with whom his own organization has been in contact, the reasons why such deals were lost, the reasons why any particular competitor is making headway locally, and similar vital facts to which the average dealer pays little or no attention.”

In one sentence from a 219-page book from 78 years ago, we can derive three secrets to selling cars that remain true today. Not only are these tactics relevant to the way dealers currently operate, but they are also the difference between a dealership that’s running successfully and efficiently and a dealership on the verge of failure.

Below are the three operational insights that have endured in this industry throughout generations, wars, and the age of the Internet that changed everything as we know it…  or did it? These takeaways will continue to be the foundation of how to sell cars in 2017 and into the future.

Dealers need complete visibility into:

1. The number of people buying competitive cars that your own dealership has been in contact with.
2. The reasons or sources responsible for these lost opportunities. 
3. The reasons why a local competitor may own more market share than you do.

This is so interesting to me because these are things GM recognized back in 1939 and STILL today we struggle with being able to put our finger on the number of opportunities we lose each month and the sources (or people) responsible for these losses. A sales manager that concerns themselves with not just their own dealership’s performance but also the performance of their top competitors and defection rates to other dealers or brands is a sales manager with A LOT of common sense!

If a customer is walking into your store, interacting with your staff, and leaving to purchase a vehicle from somewhere else, there’s always a story to uncover as to why. The problem in the digital world we live in is that dealers lack visibility into all the different sources, touchpoints, and online or in-person interactions that may have played a roll in a lost sale.

A lot of these operational inefficiencies are due to the fact that we can only see data from a one-dimensional perspective. What I mean by that is dealers don’t have a comprehensive, multifaceted view of all their different deposits of data – specifically, your CRM & DMS for the following reasons:

• You can only see the leads that come into your dealership.
• You only see the opportunities you’re working.
• Ultimately when leads get to your DMS you can see sales, but what you don’t see is the customers that defected and who they bought from.
• You don’t see the dealership next door and what is in their CRM and you CERTAINLY can’t see what’s in their DMS, and that’s a HUGE blind spot.

Because of the fact that no two dealers are the same and no two markets are the same, there will always be a different sickness, prescription, and remedy for each and every dealership. If you have a clear view into the ailments in your processes associated with each lost sale, you can then derive the information you need to make beneficial changes to reduce your rate of defection both to other brands or other same make dealers in your market.

Identifying the number of lost sales opportunities in your CRM is just the first step. The second is integrating technology that exposes where the problems are in your sales processes. Maybe it’s a third party lead provider with a high close rate and a high defection rate - meaning you need to go after leads from that particular source more aggressively or put more marketing dollars towards those leads to reduce the defection rate.

Or maybe you have a salesperson with a high close rate and a low defection rate that should be handling more opportunities. Maybe you have high defection rates tied to a particular model in your inventory, so you then know it would be a good idea to increase incentive offers around that vehicle.

Most vendors and digital advertisers only provide a one-sided perspective of your data, which is why big data has been so limiting at the dealership level. Dealers know they’re losing sales, but they don’t know where, to who, or why. If you can see the full picture, you can then start to put together the pieces of the puzzle around whether or not you had the right inventory, or did you have the right selling strategy against your competitors, and who are you truly competing with? The obscure, blurry picture of your market’s sales trends starts coming into focus. So in summary, what we need to do is start incorporating that 1939 mentality back into the way we operate.

AutoHook & Clarivoy Join Forces for the Most Action-Packed Dealer Panel of 2017

THE DATA DOESN’T LIE: 

SHOCKING DISCOVERIES IN AUTOMOTIVE ATTRIBUTION

Co-Authored by David Metter of AutoHook powered by Urban Science, & Steve White of Clarivoy

An unprecedented occurrence has taken place as the automotive industry prepares for the upcoming DrivingSales Executive Summit, October 22nd - 24th, at the Bellagio in Las Vegas. Two vendors, two of the industry’s most recognized names in proving sales attribution, have combined forces with marketing leaders from the nation’s top dealer groups to deliver the most unbiased, action-packed panel discussion in auto conference history.  

Before we reveal why this atypical panel lineup is worth attending, we first want to inform you of what this session is NOT going to be. This is NOT a reiteration of the importance of attribution when it comes to eliminating marketing waste. This is NOT a theoretical account of big data’s potential impact on improving your daily sales operations. This is a collaborative, all boots on the ground ATTACK on the two topics that have been plaguing dealerships for far too long: big data and attribution.

AutoHook Co-Founder & President, David Metter, and Clarivoy CEO & Founder, Steve White, will be co-moderating a dealer panel that will leave attendees with a multi-dimensional, crystal clear picture of how successful dealers are already using big data and advanced attribution models to do the only thing that matters to them: sell more cars.

Attendees will get a first-hand account from Marketing Directors at the nation’s leading dealer groups about how they are taking action and selling cars using data they already have available combined with technology that they’ve already implemented.

Both AutoHook and Clarivoy have differentiated themselves in the industry for their unrivaled ability to define the path that resulted in a vehicle sale. However, these two companies go about solving attribution problems from two different angles and perspectives. But, what they both always agree on is that the dealer’s perspective is the one that matters most. Dealers are not, nor should they ever be expected to be data analysts or mathematicians. It should never be a dealership’s responsibility to scrutinize the 20 different vendor reports they receive in a typical month and find trends that point to success or failure in their marketing and sales operations. It should never be the dealer’s job to assign fractionalized credit to the multiple touchpoints that led to a sale.

Too often, dealerships are debilitated by the excessive amount of one-sided vendor reports that flood their inbox every month. What good is all this data if it doesn’t include an instruction manual that pinpoints exactly what’s working and what’s not?

If you use outdated attribution models, you’re essentially making marketing decisions based on 10% of what is actually happening. That is a HUGE marketing blind spot that can lead to tens of thousands of dollars wasted on sources that don’t convert.

Wouldn’t it be refreshing if you could get a clear view of your sales and defection trends all in one place? Or quickly identify deficiencies in both your internal and external processes so that you can more efficiently assign responsibilities to your staff and get more ROI out of your third-party lead or traffic drivers?

What dealers have been lacking is a complete, 360° view of their sales operations, as well as the sales they lost to their biggest competitors. How can you improve the way you sell cars if you’re unaware of the leads in your CRM that have already purchased somewhere else? There is a reason for every lost sale, and that reason is exactly what you should use to take action and reclaim lost opportunities.

Attend this session and you will take away a lot more than the inspiration and motivation you need to take action. You will walk away with a game plan that you know has already proven to help individual dealers and dealer groups sell more cars and increase their market share. The topics of big data and attribution will transform from headaches, confusion, and irrelevant, obscure numbers into actionable steps to improve the way you operate today.

WHAT YOU’LL TAKE AWAY:

1. Learn the fastest methods of uncovering actionable sales and defection trends hidden within your data.
2. Define the sources responsible for your greatest opportunities and losses down to an individual salesperson, lead or traffic source, competing brand or dealer, and more.
3. Eliminate “Marketing Blind Spots” and grow your market share using the automotive industry’s latest and most accurate attribution models.

Do yourself a favor. DO NOT leave Las Vegas deprived of this vital and enlightening knowledge. DO NOT return to your dealership in the dark. Join AutoHook, Clarivoy, and their panel of top dealers, to finally get a clear and complete view of your market and how to outshine the competition. 

THE ACTION STARTS TUESDAY, OCTOBER 24TH AT 9:50 AM SHARP AT THE BELLAGIO IN MONET ROOMS 3 & 4!

EXECUTION: Uncovering Big Data's Missing Piece

by David Metter

The greatest marketing trends of all time began as insignificant ideas that eventually gained enough momentum to reach a critical tipping point – the point in which uncharted tools and technologies once overlooked by the masses are adopted by the mainstream. When ideas reach their tipping point, an infectious, unstoppable domino effect goes into play. The undiscovered becomes discovered, the unfamiliar becomes familiar, and the unknown becomes universal truth.

Just as the adoption of CRMs exploded in the early 2000’s and mobile marketing reached its tipping point circa 2014-2015, I believe big data has reached its culmination in 2017. I know this because I’ve seen the distinct black and white clarity today’s automotive data has finally been able to give to car dealers. 

For the past several years, dealers have lacked significant visibility into their market regarding:

• Where and how they’re losing sales
• Who they’re losing sales to (whether the customer is purchasing the same make or another brand entirely)
• If sales are lost due to internal or external factors
• True successes, failures, and trends tied to each salesperson, lead or traffic source, inventory, day of the month, zip code, etc.
• Close and defection rates for all your leads and lead providers
• Validation that you are stocking the right inventory and marketing it in the most efficient manner

… the list goes on.

What we know now is that all of the items listed above are finally within reach. It’s also important to note that the problem has never been the data. It’s that dealers have only been able to view sales trends within their own CRM and DMS. How can you possibly improve your sales effectiveness if you’re only comparing it to yourself? The inability to see the sales and defection trends of top competing dealers and brands in your market has been a HUGE roadblock for dealers... until now that is.

Today’s big data landscape has evolved to become 100% executable. We can quickly gain insights from data using a scientific approach that exposes lost sales by source at an aggregate level. By knowing your lost sales opportunities, who you lost them to, and where you lost them, a strategic path towards increasing sales and reducing defection rates naturally comes into view – despite what your market conditions may look like.

We can even take it a step further and look at success and defection trends tied to an individual person within your sales staff. For example, if someone has a high close rate AND a high defection rate, you can break down where these lost opportunities are coming from. You can see that person is being assigned way too many leads and then you can make smarter decisions in terms of how you divide up your employees’ responsibilities. 

When you can see where you’re losing sales across the board, you can then align your conversion goals, the operational training of your staff, and the way you drive traffic and leads into your dealership – so you can have the highest quality lineup of opportunities to close.

The advent of integrating automotive data to make more profitable operational decisions is similar in many ways to when CRM and DMS technologies were first implemented. Using these tools gave you a way to organize and streamline your process to help you sell more cars. The ability to execute smarter sales strategies using data analysis is no longer alchemy. It’s the current reality of this instant gratification world we live in, and it’s the weapon dealers need to be unstoppable.

5 Reasons to Visit AutoHook at Digital Dealer 23

1. Get the Power to Cut Your Lost Sales in HALF!

Gain the power to know what you're losing. AutoHook is excited for the official launch our newest solution, Traffic Conversion Analysis (TCA) taking place exclusively at Digital Dealer 23. TCA is the first-ever report that allows you to view and compare your own sales data versus the sales you lost, and defection trends to competing dealers or brands in your market. TCA instantly delivers a 360° analysis of your CRM data - exposing your greatest areas of lost sales opportunities tied to a specific competitor, salesperson, zip code, model, lead source, traffic source, or even time frame.

Using insights derived from TCA, dealers will have full control over their sales and marketing operations. The report is revolutionary in that it allows dealers to identify detailed lost opportunities tied to an individual salesperson, using data only hours old.

Read more about TCA >>

DON'T LOSE ANOTHER SALE! See how this Morrie's Automotive Dealership recouped over 50% of their lost sales opportunities using TCA. Read the Case Study >>

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2. Channel Your Inner Celebrity & Take a Free AutoHook Limo

AutoHook is honored to once again be your #DD23 Transportation Sponsor! Whether it's your first time in Vegas or your 100th, cruise around the strip the way it was meant to be seen... from an AutoHook Limo - fully equipped with beverage service and free giveaways!

AutoHook's Limo Schedule:

• Monday - 9:00am - 1:00am
• Tuesday - 9:00am - 1:00am
• Wednesday - 9:00am - 5:00pm

TO GET A FREE RIDE: Text the word "AutoHook" to the phone number 55678. Your personal driver will then contact you and take you to the next glamorous destination of your choice.

Want even more fun? Who can take the best picture in an AutoHook limo? Tag #AutoHook & #DD23 in your Limo Pics!

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3. Join David Metter on Tuesday 9/19 to View Your Market's Sales Trends From an Entirely NEW Perspective...

On Day 2 of Digital Dealer, David Metter will present, The Uncut Story Your CRM Can't Tell You. Witness this eye-opening session Tuesday, September 19th at 2:35 PM in Versailles Room 1. David will give dealers first-time visibility into their market's sales trends and demonstrate how to:

• Define your greatest opportunities and losses tied to a specific lead or traffic source, salesperson, model, day, or zip code.
• Identify defection trends of competing stores or brands in your market to reduce lost sales.
• Continuously grow your market share by understanding what you’re losing.

Read more about David's Session Here >>

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4. Get an In-Depth Review of Your Dealership's Performance

Meet AutoHook's Client Services Team face-to-face and review the results of your test-drive incentive campaigns. We’re not just there to throw numbers at you. We also provide our dealers with full circle execution on how to reduce lost sales and grow your market share using AutoHook's custom incentive solutions. We'll even set up customized, targeted campaigns for you. Learn about our latest technology (TCA) and make sure you're getting the most out of your current solutions! 

If you're already an AutoHook client, let your Client Services Specialist know you’re heading to DD23 and we’ll have a report on your dealership’s latest results ready to review with you.

Interested in learning how AutoHook delivers scientifically proven sales and showroom visits? We know your time is both limited and valuable. Get a $25 Reward if you complete a quick Demo at BOOTH 1035!

Or just stop by to say hello and pick up some free swag...

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5. We Know How to Celebrate at Midnight

Last but not least, AutoHook is very much looking forward to sponsoring the Midnight in Paris Attendee Party - Tuesday, September 19th from 8-11 PM at the Chateau Nightclub & Gardens at the Paris Hotel & Casino. Join the team at one of sin city's most exclusive outdoor venues.

See you in Vegas auto people!

Do You Have the Power to Know What You’re Losing?

by David Metter

The number of automotive reports dealership managers receive in a typical month drastically differs from the number of reports that empower them to take immediate action based on sales data only hours old. It’s as if dealers in today’s world have to excavate through mountains of analytical ruins in hopes of uncovering a single data-driven insight that may or may not impact their sales goals. Not to mention the hurricanes and natural disasters that have further obstructed an industry in its ninth month of national decline.

Auto marketing leader, Brian Pasch recently compiled a list of all the individual reports General Managers running a franchise dealership could typically get each month. “For auto dealers, the count is over 20 reports! All separate. All with different metrics. Lots of data, not many actionable insights,” says Pasch.

The overarching problem with most reports is that they only show one perspective of a much more dimensional, much more compelling story. A lot of vendors and their unique reporting methods tend to be biased in how they present results. In other words, they focus on what they’re helping your dealership win - whether it’s more clicks, more website traffic, or more leads.

But what about all the other pieces needed to complete the story? What about all the sales opportunities you didn’t win? What about the customers in your CRM your salespeople didn’t close? What about the active leads in your system you’re wasting time, money and effort chasing when in reality, they’ve already purchased from somewhere else? Wouldn’t having that knowledge save a lot of wasted energy and marketing dollars? Wouldn’t it be helpful to know as of yesterday how many sales you lost, which competitors you lost them to, and the reason why you lost them?

Furthermore, dealers need systematic visibility into the true outcomes of in-store customer interactions. We can’t solely rely on CRM data as it can be subject to human error. So the question is, does a report exist that accurately depicts the end result of every living, breathing, human-to-human exchange that physically takes place in your showroom? Did those personal interactions result in a vehicle sold or was the opportunity lost?

AdWeek published the following statement addressing this same issue:

“Over the past 20 years, analytics for digital ad measurement have focused on digital results (including web traffic, ecommerce conversion and data collection). But even though we live in an Amazon world, 92% of commerce still happens in physical brick-and-mortar locations, so measuring digital impact is nowhere near sufficient.”

For every digital action, there should be an equal and opposite reaction. What I mean by that is that all aspects of your digital marketing should strictly be evaluated based on their effectiveness or ineffectiveness of increasing vehicle sales that occur in the showroom. What we need now more than ever is a way to accurately discern if the money we’re spending on our digital marketing AND our in-store processes results in a closed sale or an opportunity down the drain. Those are the numbers dealers need to zero-in on to know the absolute best way to spend their marketing budget moving forward.

But wait! The good news is that a report currently exists that is capable of all of these things and more. This particular report defines attribution in a way this industry has never seen before. I will openly admit, there are few aspects of this tool that others out there have the potential to imitate. However, their numbers are based on 90-day old data, not near real-time sales match data. They also don’t provide a 360-degree view of your lost sales tied to a specific salesperson, lead or traffic source, model, or top competing dealer or brand in your market (all in one single report). How do you put a price on THAT?

AutoHook Integrates with Top Dealer Website Providers to Give Dealers Advanced Vehicle Targeting Capabilities

AutoHook has announced they have completed the integration process with the industry’s top leading website providers. Mutual clients of AutoHook and the affiliate companies listed below are now set up to successfully target and incentivize customers to visit dealer showrooms based on any specific vehicle of interest - down to the year, make, and model.

1. Dealer.com
2. CDK Global
3. DealerOn
4. DealerSocket/DealerFire
5. Dealer eProcess
6. Dealer Inspire
7. fusionZONE
8. Naked Lime Marketing
9. Fox Dealer
10. AutoFusion
11. Driving Force
12. RnD Interactive

For Dealer.com, CDK Global, DealerOn, DealerSocket/DealerFire, Dealer eProcess, Dealer Inspire and fusionZONE clients, AutoHook has set up additional targeting functionality that triggers based on a vehicle’s number of days on the lot - a valuable feature that will eventually be available to all providers.

All website companies participating in this shared technology solution can now ensure their dealer clients have the ability to target individual vehicles with custom test drive and private purchase offers using AutoHook’s Web2Show solution. AutoHook executes tailored campaigns both at the dealer and OEM-levels to increase incremental showroom traffic, new to brand buyers, and sales based on their unique sales goals and areas of opportunity.

Prior to combining efforts with the industry’s largest traffic drivers, AutoHook’s incentives were limited to search results pages (SRPs) and vehicle details pages (VDPs). The ability to increase offers on specific model pages was in the works, and after successfully integrating with each of these website platforms, AutoHook can now execute higher dollar test drive offers on any new or used VDP and help dealers move aged inventory in a faster, more efficient manner.

Whether you need to boost underperforming models or simply give customers a reason to visit your showroom, AutoHook is scientifically proven to deliver incremental showroom visits that purchase cars. Powered by Urban Science’s near real-time sales match database, AutoHook can attribute all sales to a specific campaign – instantly validating ROI at an industry-low cost per sale.

AutoHook is both honored and excited to work with in tangent with these automotive technology frontrunners to offer complimentary targeting enhancements for all mutual clients.

INTRODUCING: THE ALL-NEW SALES MATCH REPORT

AutoHook Releases Purchase Analysis Reports for Current Clients

As of May 2017, AutoHook released an all-new dealer sales match report, further solidifying their place in the industry as the true definition of automotive attribution. Current clients will now have a 360-degree view of their dealership’s sales, conquest, and defection trends based on data only hours old, as opposed to 90-day old registration data used in previous reporting.

REPORT ENHANCEMENTS

The Closest to Real-Time Data in Existence

This is no joke. Urban Science has the only Shared Sales Database that allows our clients to see sales effectiveness across multiple car brands in near-real time. Thus, we can report back on the numbers faster than the OEMs themselves, giving dealers:

• First-time visibility into sales and defection to other dealerships and brands.
• The knowledge required to take control of your dealership’s marketing and operations.
• Names of defectors to like-brand dealers as well as competitive brands.

AutoHook’s current dealer and OEM clients will have a significantly more actionable snapshot of their market conditions. Urban Science’s new vehicle sales matching data is now being directly pulled into AutoHook’s private offer and redemption platform for the generation of weekly reports. 

Your Total Lost Sales by Competitor

This is a big one! Prior to this release, dealers could only see how many total sales they lost to competitors. Now, you have complete visibility into competing dealerships in your market (by name) that you lost sales to. This is what is known as “actionable data.” If you are a Hyundai Dealer and you’re losing the most sales to Hometown Hyundai down the street, you can then work with AutoHook to deploy a targeted conquest incentive campaign to reduce pump-in sales. OEM clients receive even more in-depth reporting on the number of new to brand buyers AutoHook delivered to their stores.  

Customize Your Report View

Your AutoHook Client Service Specialist (CSS) can also generate a custom Purchase Analysis Report to show sales match data from any date range of your choice.

Weekly Updates

Each dealer’s Purchase Analysis Report will include their previous three full months of sales data in addition to their metrics through the current month to date. Reports are updated and reran each week, guaranteeing the most current metrics as well as sales lost to other brands or dealers in the market. Your CSS will review these reports with you on a one-on-one basis and offer recommendations as to how AutoHook can help you grow your market share and reclaim lost sales from competing stores.

REAL PURCHASE ANALYSIS REPORT EXAMPLE

An example of the new Purchase Analysis Report from an actual dealer is shown below. (The dealership’s name and competing dealer names have been changed to protect their privacy).

Starting Summer 2017, AutoHook Purchase Analysis Reports will be automatically sent out weekly to all dealer clients. In the mean time, please reach out to your CSS or DealerSupport@UrbanScience to access your sales report based on your AutoHook test drive incentive redemptions. Or please contact us with any questions. Enjoy!

Has the Promise of Big Data Finally Been Fulfilled?

by David Metter

Big data has been a big topic in automotive for a long time now. At this point, I think we’ve all realized there is a limitless digital warehouse of actionable data that exists. However, the struggle remains in deciphering how all the pieces fit together and translate into more sales. At the absolute core of the car business, when all the digital minutiae and politics are set aside, being able to prove sales is the only way to know if something is working. Owning the ability to prove sales in near real time is unquestionably big data’s most powerful accomplishment as far as the car business is concerned.

Perhaps the focus has simply been in the wrong place, or maybe it’s the fact that the focus has been in too many places. Dealers have been forced to adapt, master new technologies, implement new ways to operate and sell more cars all while being pushed in a million directions, attempting to distinguish between gratuitous opinions and actual science. It’s easy for dealers to lose sight of the end game when they’re stuck trying to figure out how the pieces fit together and how to create the story needed to turn data into action. This is why a lot of people view big data as nothing but a big problem.

I’m going to make this whole big data problem very small. The only data you need to start with, the only data that allows you to take immediate action is sales and service data, nothing else - and this is the reason:

We know that when customers physically walk into a showroom, closing rates jump to roughly 60-65%. Therefore, leads are important, but there’s no argument that showroom visits are more important than leads, and sales are more important than showroom visits. That’s the trajectory. If you’re using big data for anything other than proving sales or service revenue, you’re wasting your time. Sales have always been, and will always be the single most important dealership metric.

You also have to look at the history and trends of your past sales and the sales of your fiercest competitors. Too often, some of the most influential players in this industry forget that no two dealers are the same and no two markets are the same. Therefore, the data you need to own more of your market share may be much different from other stores, including each rooftop within a large or small dealer group.

In a lot of ways, big data is like a hammer. We can all go to Home Depot and buy the same hammer, but what we use it for, and what we ultimately build with that hammer is contingent upon its user. Choose to use your hammer better and smarter than the competition. Know that in order to do so, you also have to know how your rivals are using their hammer – in other words, the sales and defection trends of competing dealers in your market. It’s impossible to cut your losses if you don’t know they exist. You need to view both your opportunities and losses from a 360-degree, closed-loop vantage point. Big data exists not only to show you what you sold, but just as importantly, what you didn’t sell.

To put things into perspective, know that the power of big data transcends far beyond the car business. On a global scale, true improvement and change can only occur if a problem or a need for change is identified. Over the last decade, big data has proven its ability to influence the world’s greatest issues, including social change, government policy, and industry laws and regulations simply by its ability to demonstrate a need. When a need is identified, it then opens up the door for change.

In the TEDx Talk, “Stories are Just Data with a Soul, Chris Coates paints a very clear picture that data exposes needs by telling stories. “These stories can help people leaving prison to find work and stay out of prison and build new lives. They can save someone’s eyesight or their leg. Data can give children in the most deprived parts of the country chances in life they wouldn’t otherwise get.” What Coates is saying is that data alone has the capacity to change a life. If big data can change lives, it can absolutely change the effectiveness of your sales operations.