Hint: It involves implementing a digital retailing strategy with messaging woven into it. And we’ve got a guide to help you make it work. SEE HOW
This weekend, I was comparing website analytics for 2010 vs 2009 for one of our dealers, which got me to thinking about how 2009 compared to 2010. Before I knew it, I was digging into analytics for 2008 and 2007.
Limiting myself to just one dealer's analytics could taint my findings with the improvement of the website, lead generation, SEO, SEM, etc. So to ensure the most accurate findings, I formed a test group of six dealers from various geographic regions with multiple rooftops and brands to provide better insight and benchmarks. The dealers’ websites were managed through BZ, Dealer.com, Cobalt, Dealeron, and Potratz over the period of 2007-2010. Third party leads from sites like Cars.com and ATC were not used in this measurement.
Here are some of my findings:
Unique visits from 2007 to 2010 have increased at a rate of 743%
Average time on site increased 1:37 from 2007 to 7:10 in 2010
Bounce rates averaged 51% in 2007 and decreased to 23% in 2010
The money question… Conversions increased by 625% from 2007 to 2010!
Site visits by mobile device in 2007 were too low to measure (less than .01%). However, in fourth quarter 2010, these were at 6%
These findings did not completely surprise me, since I have been in the digital bubble for many years and I choose to do my shopping, reading, and learning online. Also, I am a gadget freak the type who feels like a little boy on Christmas day when I find a new Saas CRM, SFA, open source software, or API package.
We have all heard terms like “Internet Bubble” and how the internet is going to create explosive growth. Well, that time is officially here, and is not showing any signs of slowing. In fact, it is only growing, seeing a triple digit growth over time!
61,000,000 smart phones are in use with growth of 10% in the last 90 days, mobile tablets are flying off the shelves, and free wifi is popping up everywhere!
If your dealership is tracking lot ups on a paper log then I challenge you to track internet ups daily on a log and analyze this number daily just like you do lot ups. There is no difference in a lot up and an internet up! Internet ups are car shoppers, and the same shoppers you have visiting the lot EXCEPT the internet ups outnumber the lot ups 10 to 1.