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From: Jared Hamilton
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Ryan Gerardi

Ryan Gerardi Futurist

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Measuring the Impact of Your Marketing Investment in Auto Retail

With more advertising channels comes more ways to reach potential consumers, but also more complicated analysis to determine if your investment is working. Effectively, your ability to attribute sales to specific marketing initiatives has evolved, but so too have the intricacies.

So where should savvy marketers start?

In marketing, attribution means the tracking of your marketing investment through each stage of path-to-purchase from creating awareness to driving traffic to close. Attribution allows you to understand which elements of your marketing mix were involved in the purchase decision process, and ideally, which were the most effective.

The role that attribution plays today and in the future is evolving rapidly as more sophisticated data becomes available and able to be interpreted and acted on more intelligently.

As an example, consumers now expect and respond better to messaging that is better customized to them personally, thus customization has become a key measurable characteristic with marketing attribution, an idea unimagined only a few years ago.

Others include…

  • Implementing a streamlined form-fill process on all devices in conjunction with responsive design
  • Consumer experience plays a significant role in the attribution process
  • Attribution is more accurately measured when conversion is streamlined via e-mail or text message delivery

The better you’re able to understand your consumers and address their needs and wants (both from an information and product perspective), the more you’ll earn their trust.

I'm curious to know what are some tools and technologies that either your dealership or agency are using to "attribute" vehicle sales to specific marketing dollars?

 

Mark Rask

From a digital standpoint we use google analytics of course.....we also have it tracking each click not just the final click

Eduardo Aragon

Hey everyone, the conversion tracking pixel and now the new Facebook pixels are must haves for any Facebook marketing campaigns. https://www.facebook.com/business/help/1662592027337096 

Ryan Gerardi

Yes Eduardo they are must haves!

Mark, do you have goals and values set on each click type as well? What about Big Data? Is this part of your "attribution" strategy?

Mark Rask

We do have that set up....

Katie Robinson

Hey guys!  Totally agree and I happen to work for a company that specializes in the identification of the most common and effective purchase paths of auto buyers.   Way beyond the first click/last click attribution you can get from tools like GA.  Would love to talk more!  www.clarivoy.com  

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