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AutoUSA Dealers Performance using ShowPro

AutoUSA Performance Infographic
AutoUSA Performance Infographic

After all the amazing feedback we received around our latest Purchase Analysis Report, you know - the one we published last week that drilled down on the performance dealers using HookLogic on their Dealer.com websites, it only made sense to continue on by comparing and calculating additional/other groups of dealer clients utilizing our Web2Show and Lead2Show products.

Some of you may know that early on we built a product called ShowPro for AutoUSA. ShowPro is based on our existing Web2Show and Lead2Show products. The included Purchase Analysis Report was originally put together for AutoUSA and HookLogic internal performance meetings, but we figured why keep all this great performance data and results to ourselves?

Lets get to the good stuff…

The results in the below AutoUSA Purchase Analysis Report could potentially have you re-thinking your current position on 3rd Party Lead acquisition.

Too often, industry consultants and online marketing/Internet sales managers are quick to dismiss the potential and performance of new vehicle 3rd party leads. A majority of the time dealers only measure the closing ratio of their leads, while missing out on measuring the Show rate of their leads – that’s an article for a other time.

Before we get too far, allow me to clarify how I view what a 3rd Party Lead is. 

To me, a 3rd Party Lead is a lead that is NOT associated to a particular vehicle in your inventory (new or used). It’s a new vehicle lead you purchase through a new car lead aggregator such as AutoUSA, Dealix or AutoBytel.

These leads typically derive from a “get your price quote” or  “configure your next vehicle” call-to-action, where a customer chooses or configures a new vehicle of their choice on a vehicle information website like Edmunds.com, TrueCar, AOL Autos, or one of the other million websites designed to capture "in-market" leads.

Click here for more specifics around my views and opinions of a 3rd Party lead vs vehicle classified leads.

Al-l-l-right – that’s enough talk around the difference in 3rd party leads. In the end, we just need to get more of your leads to show up at your dealership.

Getting back to this AutoUSA Purchase Analysis Report; starting from the top, you see “Leads Generated“. During the months of  1/1/13 – 6/30/13AutoUSA ShowPro generated 20,990 leads for their dealerships clients.

Of the 20,990 incentivized vehicle shoppers, 5,985 customers walked into a participating AutoUSA ShowPro dealership during this time frame to test drive a vehicle after engaging with ShowPro.

Of the total amount of leads submitted or engaged, 1 in 3 showed up at the dealership for a 29% Lead to Show Rate. Considering the average national lead to show rate is around 17%, this is outstanding!

Now lets get to the SALES Data.

Of the 5,985 that were incentivized and that walked into this group of 119 dealers for a test drive, 58% purchased a Vehicle.  

Let’s agree, HookLogic / ShowPro nor any other marketing / lead generating feature has a direct correspondence to how well your sales floor can close deals. However let’s consider this - J.D. Power studies show that consumers are visiting LESS than 2 dealerships before purchase. That equates to a 50% show to close ratio on average by default.

This group of dealers are closing incentivized ShowProshowroom ups at 58% with an overall lead closing ratio of 16%.

Are you tracking your dealers Lead to Show Rate?Without shows, there's no test drives, no writes up and no opportunity for sales.

As I have pointed out before, most dealers  do a good job at closing the customer once they show. What dealers need to be measuring is the customer Lead to Show rate.

Whether it's from a lead originating from your dealer’s website, 3rd Party Lead, Online Chat lead or HookLogic Lead2Show or AutoUSA ShowPro – if you can get more in-market shoppers to Show Up at your dealership, you get more opportunities to make more sales. 

Your Show Provider (by Limo) at NADA 2014 - New Orleans

HookLogic Gears up for NADA 2014 - New Orleans

NADA_2014
NADA_2014

#HOOKLIMO

NADA 2014 is right around the corner. As I'm sure you're already aware this years NADA is being held in New Orleans. In tradition, HookLogic will be your (dealers and partners) official  “Show Provider”, at the 2014 NADA Convention.

If you're attending NADA 2014, we invite you take advantage of our complimentary limousine service to shuttle you and your party in style between the conference, your local hotel, and some of the amazing parties that happen.

Not only will our limos offer "refreshing beverages”, mood setting music and a great atmosphere to have engaging conversations with your co-workers and friends, but we will also be hosting a Fun CONTEST! 

text  NADALimo to 55678 from your mobile phone and our VIP Limo drivers will contact you back to arrange for pickup and drop-off.
text NADALimo to 55678 from your mobile phone and our VIP Limo drivers will contact you back to arrange for pickup and drop-off.

The service is first-come-first-serve and our drivers will give priority to our HookLogic premier clients, OEM partners, and agencies of record so depending on the number of people requesting transportation you may or may not have to wait. The limos will be in service on between 8am and 10pm Friday Saturday and Sunday.

To take advantage, text the word NADALimo to 55678 from your mobile phone and our VIP Limo drivers will contact you back to arrange for pickup and drop-off.

HookLogic, the industry innovation leader in providing quality traffic to your showroom, looks forward to providing you with a quality "show" to your destination.

Before you head out to the conferences be sure to Follow us on Twitter and Like us on Facebook. This is where we will be sharing photos from the convention, parties and announcing the contest winners.

We hope you have a great time in New Orleans. See you there!

Dealer.com Dealer Results Using HookLogic

hooklogic ddc results
hooklogic ddc results

Okay - this gets exciting so follow me here...

Over the past few months, we have been talking about "Building the Ultimate Attribution Engine”.  As part of that story, we introduced our new Purchase Analysis Reports powered by IHS Automotive, driven by Polk.

Over the next few months, we are going to break down sales data by OEMs, vendor partners, and marketing campaigns. Drawing the line between digital marketing and a sale in the showroom has always been blurry..until now.  You are about to see why HookLogic is used by so many dealerships and manufacturer programs.

The data and results in the below "info-ish-graphic" represents the real results for 193 dealerships using HookLogic's Web2Show feature and are on the Dealer.com website platform. There's quite a bit of information included so lets break it down, starting from the top and moving our way to the bottom.

Before we get started - I would like to point out that we have partnered with Polk to help acquire and validate the lead close rates for our customers.  This is provided by matching all leads to Polk’s census of vehicle registrations for actual close rates of all new and used vehicles purchased by the consumer submitting the lead. You can’t get any better than the data Polk provides.

Moving on...

Starting from the top, you see "Leads Generated". During the months of  January 2013 – June 2013 HookLogic Web2Show generated 29,577 leads for dealers on the Dealer.com platform. Of the 29,577 incentivized vehicle shoppers,  9,814 customers walked into a dealership during this time frame to test drive a vehicle. Of the total amount of leads submitted, 1 in 3 showed up at the dealership for a 33% Lead to Show rate.

Now lets get to the final result - A SALE!

Of the 9,814 incentivized customers that walked into this group of 193 dealers for a test drive, 6,320 or 65% Purchased a Vehicle between 1/1/13 – 6/30/13.

Dealer.com HookLogic Results
Dealer.com HookLogic Results

Let's agree, HookLogic nor any other marketing / lead generating feature has a direct correspondence to how well your sales floor can close deals. However, let's consider this - J.D. Power studies show that consumers are now visiting LESS than 2 dealerships before purchase. That equates to a 50% show to close ratio on average by default. This group of dealers are closing Web2Show incentivized "shows" at 65%.

What's your dealers overall showroom or show to close ratio?

A better question might be - what's your dealers Lead to Show Rate?Because without shows, you sell...very little.

Let's be real, most dealers anymore do a good job at closing the customer once they show. How can you not, if on average consumers are visiting Less than 2 dealers before purchase? In todays world, it truly comes down to your dealers Show Rate. Whether it be from a lead originating from your dealers website form, 3rd Party Lead Provider, Online Chat or HookLogic Web2Show - if you can get more in-market shoppers to Show Up, you're going to sell more vehicles.

Dealers using HookLogic's suite of features get MORE  in-market shoppers to SHOW!

BTW - quick math for you internet managers that measure your Lead to Close/Sold, the closing ratio on Web2Show Leads generated from this group of  dealers was 21%.

Note: HookLogic has been recently added to the Dealer.comCertified Provider Program. In addition to expedited installation and training, this will provide you with integrated reporting in your dealer dashboard. HookLogic’s Web2Show and Lead2Show solutions can be added in the Marketing Upgrade Center or by clicking here

Contest Winner - "What percentage of Generation Y are open to buying ANY brand of vehicle?"

monthly HookLogic Automotive Contest Winner
monthly HookLogic Automotive Contest Winner

In last months newsletter, our contest question was "What percentage of Generation Y are open to buying ANY brand of vehicle?" The possible choice of answers included: 13% 27% 43% 54% <-- the answer!

This must have been a real stumper of a question; with less than half of the participants choosing the correct answer - 54%.

Seems like a large percentage to me. But according to a recent study by J.D. Power and the article around the study, more than half of Gen Y online shoppers are open to buying ANY brand at the beginning of the shopping cycle for their next vehicle.

How much focus should be placed on Gen Y buyers?

Well, they're increasing in market share at the greatest rate among all new-vehicle buyers" and are now responsible for more than 20 percent of all retail sales. That's a substantial group of buyers.

Another interesting stat from the study - of the Gen Y automotive consumers who go online during the buying process, 47 percent use smartphones -- the highest among any demographic, the study found. I believe that! More and more, potential consumers are on their phones "showrooming" while standing on your dealers showroom floor. I discussed topic of "Showrooming" during my DSES2013 presentation with Ryan Leslie. What are you doing to help prevent this from happening on your dealers showroom?

…back to the contest.

Of the participants that submitted the correct answer, we chose 1 WINNER. The winner receives a $100 eGift Card courtesy of HookLogic, of course.

And -- the winner is ….. Adam Owens!!

Adam Owens - Contest Winner
Adam Owens - Contest Winner

Adam is the Internet Internet Marketing Director for the Herb Connolly Auto Group and heads up the Internet Lead Management, Internet Sales and Online Marketing for the group. Adam has been with Herb Connolly for just over 7 years.

Not only did Adam win this contest but also wins additional Lead to Shows each month using HookLogic's full suite of dealer products. The Herb Connolly has been leveraging Web2Show and Lead2Show for over a year now with amazing results.

A big Congratulations going out to Adam from the HookLogic Automotive team!

Who will be our next winner?

Want your opportunity to win? Subscribe to our Monthly Newsletter and participate!

9th Annual Automotive Digital Success Workshop w/ Kain Automotive

Kain 9th Workshop
Kain 9th Workshop

It's that time of year again - where David Kain and the crew hosts their Automotive Digital Success Workshop. 

As always, the event is help in beautiful Lexington, KY. This year it's on November 12th and 13th and guess what?? You're INVITED!!

Join David Kain and a slew of amazing industry speakers for their 9th annual workshop, where they will be teaching you how to build on the success of your Internet and BDC Operations. The speakers will bring the latest and greatest strategies and tactics designed for you to implement right away. Join fellow Dealers, General Managers, Internet Managers, BDC Managers, Digital Marketing Managers, Sales Managers and other team members from our clients and friends dealerships.

The workshop will be hosted at the Hilton Downtown in Lexington, Kentucky. The hotel is located just 15 minutes from the Lexington Blue Grass Airport (LEX). Several major airlines serve LEX. You may also consider the Louisville International Airport (SDF) or Greater Cincinnati Northern Kentucky Airport (CVG), which may offer lower airfares and are both located just 75 minutes from Lexington.

Register Today atwww.kainautomotive.com/kain/events

Or TAKE ADVANTAGE of our Special HookLogic Pricing of $299 - Use Discount Code "HookLogic" 

Please contact Jessica Kain at 859-797-6807 or by email at Jessica@kainautomotive.com for additional details

SCHEDULED SPEAKERS:

Our own David Metter - President of Automotive for HookLogic

Todd Smith - CEO of ActivEngage.com Stacey Coopes - CEO of FordDirect.com Scott Painter - CEO of TrueCar.com Egon Smola – Vice President of Dealix.com Christian Salazar – National Sales Director at DealerFire Jordan Hyatt - Sr. Product and Solutions Specialist at Google Terry Moore – Internet Manager at Reed Lallier Chevrolet Brian Pasch - CEO of PCG Consulting Ben Cohen - President of Vast.com Shaun Kniffin – Director of Marketing at Steve Germain Motor Company Kyle Lindsey - Owner of SaabKyle04.com Matthew Belk – CEO of BetterCarPeople.com Ali Mendiola – BDM Digital Retailing at DealerTrack Hunter Swift – Director of Sales Development at DealerSocket

There will also be presentations by Haystak Digital as well as the KainAutomo@ve.com Training Team of Jessica Kain, Tiea Roper, Nancy Stracione, Steve Miner and David Kain

Looking forward to seeing you there!

Introducing Our New Purchase Analysis Report

We are extremely EXCITED here at HookLogic.

Why? Because over the last year we have been working to "Build the Ultimate Attribution Model" for Auto Dealers.

By diligently working with RL Polk, we have developed a monthly Purchase Analysis Report to complement our existing reporting suite.

You already know our weekly performance report that breaks down your lead and show ratios.  Many of us on the HookLogic team have spent several years in the business and know that you are wondering ‘But do I sell cars using HookLogic’. Now we provide the answer. By providing sales data, not just with our dealers, but with surrounding dealers as well, you will see your true HookLogic ROI as well as lost opportunities.

Let’s review our new Purchase Analysis Report:

example analysis report
example analysis report

In the example Purchase Analysis Report, we are able to match nearly every showroom visit into the dealership that resulted in a sale (29). This is found under the Data Summary in the top left portion of the report.

walkin rate analysis example_report
walkin rate analysis example_report

The first bar chart you see is the Overall Walk-in with Incentive Buy-Rate (66%). This is the percentage of overall customers that were incentivized with HookLogic that resulted in a sale during a 90 day period.

Important to note here - this is the OVERALL Incentive Buy-Rate. Meaning that, these matched customers bought a car, somewhere.

The next bar chart is your Dealer Buy Rate or what we like to call, your Show to Close. In this example, the dealership Sold 16 of the 29 opportunities (customers that walked into the dealership), resulting in a 55% Dealer Buy Rate, or show to close percentage.

Next up is your Dealer Lost Opportunity. These are the customers that HookLogic incentivized to show up at your dealership to buy a vehicle, but walked out of your showroom without making a purchase and then went to another dealership.

lost analysis example report_final
lost analysis example report_final

In this example you see this dealership lost 3 sales to a competitor. Not only does this report show you the number of lost sales, but at the bottom of the report, you will see which 3 dealers they lost the sale too. Not only did they lose 3 sales BUT these customers bought what they intended to purchase.

Compelling  isn’t it?

monthly analysis example report
monthly analysis example report

The middle performance bar charts includes the same information but broken out into the last 3 months by New, Used and Lost Opportunities.

We are confident these new Purchase Analysis Report will close the loop on the sale and help HookLogic and you create the ultimate attribution model.

If at anytime you have ANY questions about this report, please contact our support team and we will schedule a time to review. We want you to have a complete understanding of these reports.

Thanks for taking your time to read this; which hopefully has opened your eyes to the value HookLogic provides.

HookLogic Is The Official Driving Sales Executive Summit Show Provider!

We Are The Official DSES Show Provider!

limo.jpg

Everyone LOVES our complimentary HookLogic AutoHook Limo service. And who wouldn't? Arriving to your Hotel and the Driving Sales Executive Summit in style is a sweet offer.

If you’re attending DSES 2014 this Sunday, take advantage of our complimentary limousine service. to shuttle you and your party in style between the conference, your local hotel, and some of the amazing parties.

Starting Sunday October 12 at 8:00AM text ‘vegaslimo’ to 55678 for rides to and from the airport and to and from your Hotel and the conference. Limousine service will also be available up until 10:00pm each night of the event. Not only will you driving around is class, but our limos will be stocked full of “refreshing beverages” (BOOZE) – compliments of  Ryantech Cloud Services .

Rides are on a first come, first serve basis and no reservations can be made in advance.  We hope you enjoy the HookLogic limousine service.

Complimentary Limousine Service - On Us!

In the true meaning of HookLogic being a "Show Provider", we would like to provide you a ride to the "Show".

If you are attending Driving Sales, Digital Dealer or J.D. Power conferences this month, Follow HookLogic into Conference week 2013 as we invite you take advantage of our complimentary limousine service to shuttle you and your party between the conferences, your local hotel, and the Vegas strip.

We will be offering refreshing "beverages" while you enjoy your ride with us, compliments of MSCloud Services.

All you need to do is text the word VEGASLIMO to 55678 from your mobile phone and drivers will contact you to arrange for pickup.

The service is first-come-first-serve and our drivers will give priority to our HookLogic premier clients, OEM partners, and agencies of record so depending on the number of people requesting transportation you may or may not have to wait. The limos will be in service on Sunday between 12pm and 10pm and Monday through Thursday between 8am and 10pm.

HookLogic, the industry innovation leader in providing quality traffic into your showroom, looks forward to providing you quality ride to the Vegas fall conferences.

We hope that you have a great time in Las Vegas.

HookLogic vs. The Competition: A Testimonial Like No Other

Leadership vs the competition
Leadership vs the competition

They say competition is good.

For many reasons:

1. It helps promote growth. 2. It forces you to be more creative. 3. It promotes taking chances and trying something new. 4. It can force you to become more goal oriented.

The list goes on.

Competition IS good and healthy.

We, Hooklogic/AutoHook, of course have some welcomed competition within the automotive industry. Some may argue that they're not REALLY competition, as they have done nothing more than mimic or try to copy our Industry Leading services and technology.

One particular competitor is quite boisterous and uses several tasteless "tactics" to try and compete.

I digress, and say good for them.

We (the Hook crew) would rather stay focused on our products, technology and customers while building out the ultimate attribution model. This is why we have an extraordinary list of amazing Dealers Clients, Partners, and OEM's (like Volkswagen and Chrysler) that we work with. None of our current competition truly compares to our services and technology, no matter how they package it or what tactics they use to try and compete.

I understand that last sentence could be read as being overly presumptuousness, but I mean it as nothing more than confidence and pride in our people and services. I could go on and on about how great I think our services are, but no one says it better than our dealer clients that have given the competition the opportunity to perform, only to come back. It's a great feeling!

Below is a testimonial from one of our dealer clients...

watersautoland testimonial
watersautoland testimonial

Thanks for the amazing testimonial Thad. We look forward to our continuing partnership.

HookLogic Selected for Dealer.com Certified Provider Program

DDC_Certified
DDC_Certified

ANN ARBOR, Mich.--(BUSINESS WIRE)--HookLogic, the global leader in commerce search advertising and premium provider of lead-generating incentive solutions for automotive dealers, announced it was named among the trusted providers in Dealer.com’s Certified Provider Program. As a member of this program, HookLogic gains visibility and credibility in front of the thousands of auto dealers that Dealer.com serves. HookLogic joins MS Cloud Services and Contact At Once! among the list of the providers that have proven qualifications including security and seamless integration with Dealer.com’s products and services.

“We have a strong sense for what technologies are in-demand in the automotive dealer marketplace, and a data-driven incentive program seemed something that would benefit almost every dealer in our network”

The Certified Provider Program will make available two different HookLogic solutions, Web2Show and Lead2Show, to Dealer.com members. Web2Show converts web traffic to showroom visits by delivering incentive offerings to in-market shoppers who meet targeting criteria; Lead2Show offers similar incentives to only those potential buyers identified as highly motivated, according to an extensive data network. Both will be fully integrated into the Dealer.com analytics dashboard and ready-to-implement without any installation or training required.

“We already have positive relationships with many dealerships across the country,” said David Metter, president of automotive for HookLogic. “But this opportunity with Dealer.com allows us to reach a vast array of dealers with whom we might not have otherwise had the opportunity to connect. To know that so many dealerships will have the opportunity to collect and convert leads through our technology is exciting. And their affiliation with such a reputable service as Dealer.com shows that the relationship with these new dealerships will be mutually beneficial.”

“We have a strong sense for what technologies are in-demand in the automotive dealer marketplace, and a data-driven incentive program seemed something that would benefit almost every dealer in our network,” said Mike DeCecco, Dealer.com Director of Business Development. “By making this technology available through our Certified Provider Program, we were able to convey to our dealers that HookLogic’s offerings are both compatible with our platform and trustworthy.”

Web2Show and Lead2Show are both immediately available through the UpgradeCenter in Dealer.com’s ControlCenter.

About HookLogic

HookLogic, the global leader in commerce search advertising, enables marketers to influence in-market shoppers and Win the Moment of Truth™ on the world’s leading retail, travel, and automotive sites. Network partners and advertisers including Expedia, Target, AutoTrader.com, Chrysler, Intel, Newegg and Rakuten.com Shopping use HookLogic to increase sales and monetize site traffic with industry-leading solutions such as Retail Search Exchange, TravelAds, and AutoHook. Backed by Bain Capital Ventures and Intel Capital, HookLogic is headquartered in New York City, with offices in Ann Arbor, Atlanta, and London, UK. For more information on the Retail Search Exchange, please visit www.retailsearchexchange.com.