Steve White

Company: Clarivoy

Steve White Blog
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Steve White

Clarivoy

Dec 12, 2016

The Amnesia Effect of Google Analytics

Your dealership undoubtedly sees a lot of customers each day. Let’s say that each customer who walks into your showroom wears a different color shirt. Over the course of time, you see a trend in that every single customer who purchased a vehicle wears a red shirt. You’d probably start getting excited when you see a customer come onto the lot wearing a red shirt. In fact, you might come to the conclusion that perhaps you should start marketing to people in red shirts, as those customers are clearly buying vehicles from you. But that would be a bad assumption to make. Why? Because I could visit a dealership five times and each time wear a different colored shirt. It just happened to be a red shirt I wore on the day that I purchased. 

The same thing applies when Google Analytics reports attribution. I like to call this the “Amnesia Effect of Google Analytics.” Google Analytics doesn’t remember that the customer visited the dealership five times, or that the customer wore a different colored shirt. Only the fact that he or she was wearing a red shirt when they purchased a vehicle. So, Google Analytics attributes the sale to the red shirt. 

This may sound illogical, because it is! 

Attribution is a subject close to my heart, and an area of expertise, I’ve recently written quite a bit about over the last few months. The subject can be rather confusing, especially if you don’t understand the different types of attribution models and which ones are more accurate than others. In a previous blog I received a lot of positive feedback on an analogy I used in an attempt to simplify the differences between first, last and multi-touch attribution. I thought I’d expand on the analogy to provide a mini “Attribution 101.”

A scenario that happens every day at most dealerships is that multiple salespeople are involved with the same customer over a period of time. It’s a well-known fact that the majority of customers don’t buy the first time they visit the dealership. 

Mr. and Mrs. Smith come to the dealership. They’re approached by salesperson #1 who greets them. They say they wish to look around by themselves. Salesperson #1 hands them his business card and says he’ll be waiting in case they have any questions or would like to see a specific vehicle. As they leave, he manages to get their names and phone number and enters them into the CRM. 

A week passes and Mr. and Mrs. Smith return to the dealership. Salesperson #1 is off and they don’t remember his name, or ask for him. Salesperson #2 greets them and answers specific questions about a couple of models they have interest in. He test drives both models with them and conducts comprehensive walk arounds explaining the various features and benefits of each vehicle. Mr. and Mrs. Smith thank him for his time and let him know they want to do a little more research. Salesperson #2 gets their information and the customers leave. 

A few days pass and Mr. and Mrs. Smith return. Salesperson #1 and #2 are not on shift. The Smiths are greeted by salesperson #3. They inform salesperson #3 that they are interested in a specific vehicle and would like to get information on pricing and payments. Salesperson #3 sits them at his desk and goes over all that information with them. After the information is presented, the Smiths again say they would like to think about it and they leave. 

The next weekend, the Smiths return and salesperson # 4 greets them. They inform salesperson #4 that they previously visited and test drove a specific car, have already worked out figures and would like to purchase the vehicle. Salesperson #4 sits them down and proceeds to wrap up the deal and delivers the vehicle. 

In this case, how does the sales manager work out who gets credited with the sale?

Assuming everybody involved entered the customer in the CRM and followed up, most dealerships would credit salesperson #1 (first) and salesperson #4 (last). Salesperson #2 and #3 get no part of the commission. However, when viewed from an effort and influence perspective, salesperson #2 and #3 actually did the most work and had the most influence. 

This is an example of first and last touch attribution. In a multi-touch attribution situation, a dealer would have the ability to see that salesperson #2 and #3 actually did the most work and could credit them with the most influence leading to the sale. 

You need a bigger picture with accurate attribution data to make effective marketing decisions. Otherwise you will find you are experiencing the amnesia effect of Google Analytics - wasting money marketing to people wearing red shirts when, in fact, the color of shirt had no influence on the sale. It just happened to be what the customer was wearing when they purchased the vehicle. 

I hope this helps bring about a better understanding as to why a multi-touch attribution model is imperative in making informed decisions based on accurate data that will produce greater ROI from your marketing budget. 

Steve White

Clarivoy

CEO

918

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Steve White

Clarivoy

Dec 12, 2016

Are You Playing Russian Roulette With Your Marketing?

These days, Google searches are much more personalized and localized. For example, when a consumer types in a search query at their home it produces different results to the exact same search conducted at their office 30 miles away.

And, to further complicate matters, consumers increasingly shop and conduct their research using multiple devices, making it that much more difficult to follow them from the beginning of their journey to the end. A consumer may start their shopping journey on a desktop, browse a dealer’s inventory and then jump to a review site, then to a third-party listing site to compare pricing and availability. When they do find a vehicle they like, often they just go to the dealership to see it. Perhaps their visit is preceded by a phone call or internet inquiry to confirm the vehicle’s availability, or maybe they just show up. Once they arrive, they may be attracted to a different vehicle which prompts them to whip out that cell phone and start researching and price checking while standing on the lot. Most consumers don’t buy the vehicle they first inquired about and showrooming is now a common practice -- and there’s nothing anybody can do about it.

That being said, understanding the POSSIBILITIES which exist along a consumer’s car-buying path, and ensuring your dealership is present with compelling messages at each touchpoint, can lead the shopper that much further down the funnel and, ultimately, to your dealership.

But when it comes to sourcing that customer, many salespeople only ask surface-level questions which rarely, if ever, provide accurate information needed to identify and accurately measure your marketing spend. Of course, many consumers themselves don’t remember all of the touchpoints they visited that led them to buying a vehicle from you so asking them more questions can still lead to inaccurate results. However, you should still ask customers these questions if only to understand the customer’s perception of what influenced them.

Today most consumers own multiple devices on which they use to shop and conduct their research – work computer, home computer, tablets, cell phones - and now voice-activated services such as Amazon’s Alexa and Siri (amongst others). It’s never been more important to have the data you need to make accurate and reliable marketing decisions.

While in the past, last-click attribution was used simply because the technology didn’t exist to see beyond that, now, successful marketers understand that there is no longer just one source responsible for influencing the entire customer journey. All of your marketing efforts work in their own way in a symbiotic relationship to influence the customer. A review site could be what convinced the customer to look at a specific make and model. A third-party listing site could be what influenced them to narrow their selection down to your specific vehicle. Another review site could then have given them confidence that they would have a good experience at your dealership and be treated fairly. Each of these touchpoints did their job and played a part in providing the customer the information they needed, which ultimately led them into your dealership.

It’s certainly possible that lack of presence on one or any of these touchpoints could influence the consumer into following a different path and onto a competitor’s lot. However, without the data and information showing you which touchpoints are influencing your customers, you’re simply guessing.

Steve White

Clarivoy

CEO

982

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Steve White

Clarivoy

Nov 11, 2016

The Most Important Factor to Consider When Choosing a PPC Vendor [VIDEO]

In this short video blog, Clarivoy CEO Steve White shares the one question that every dealer should ask of any PPC vendor that they are considering.


 

The Most Important Factor to Consider When Choosing a PPC Vendor from Clarivoy on Vimeo.

Steve White

Clarivoy

CEO

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Steve White

Clarivoy

Nov 11, 2016

The True Cost of Google Analytics

During my Innovation Cup presentation at the 2016 DrivingSales Executive Summit, while presenting our Multi-Touch Attribution software, one of the judges, Robert Karbaum, challenged me saying that Google Analytics already allowed users to import sales data. When the question was asked, I had my attribution hat on, versus my Google Analytics hat, so I was thinking in the context of “can you import sales data AND do user-level attribution.” Given that presenters in the contest have a very limited amount of time, I do not feel I did a good enough job of clarifying my answer in full. With that framework in mind, let me clarify with this blog:

A question that often arises in talking about Multi-Touch Sales Attribution, one of Clarivoy’s core products, is: “How are you doing anything different from what Google Analytics already does for me?”

Well, Multi Touch Sales Attribution incorporates offline sales data and connects ALL the online AND offline marketing touchpoints on a consumer’s purchase path to the eventual sale. Google Analytics on the other hand, lives in the online world only.

Before I go any further, I want to be clear: free analytics tools or platforms, such as Google Analytics, absolutely have their place in a marketer’s bag of tricks. However, while I am not out to end the use of Google Analytics, I want to underscore the downside of relying exclusively on these type of tools. Throughout my 17 years in the digital marketing sector, I have seen an over-reliance on Google Analytics and other web analytics solutions. These platforms, in their default out-of-the-box installations, provide data, but often not intelligent insights.

While marketers are lulled into believing that an out-of-the-box implementation is good enough to get accurate information for their marketing decisions, these free tools only focus on online activity. With so many reports, all the data a marketer needs must be in there somewhere, right? In actuality, what marketers end up with is last-touch, online only attribution.

Google Analytics measures site activity, but not what’s important: SALES! Google Analytics enables you to measure the success of your marketing based on clicks, cost per click, website traffic, number of leads and vehicle detail pages (VDPs) amongst others. Unfortunately, those metrics don’t offer information as to exactly what impacted sales. That is why we call them vanity metrics. How do you improve your marketing and increase sales solely using vanity metrics? Optimizing on those vanity metrics feels productive, but is it, really?

The reality is that Google Analytics only gives you part of the entire picture. You are only looking at digital marketing activities. Looking for marketing insights from only part of the picture may drive you to the wrong conclusions.

For the advanced marketer, Google does offer a more robust analytics platform called Google Analytics 360 (formerly known as "Premium"). This paid platform is intended to solve many of the issues that enterprise customers may have with the free version: for example faster data processing, higher quotas, and a rudimentary version of attribution analytics.

Ultimately, Google Analytics 360 has many of the same issues as the free version. The CMO of a very large auto group recently told me he canceled Google Analytics 360 as he felt the value was just not there. For this sophisticated marketer to say “No, Thanks” to Google’s premium tool speaks volumes about the usefulness of its metrics. While these tools do deliver a substantial amount of information, they lack the substance to actually help optimize marketing decisions because the information delivered isn’t based upon data about what actually caused that sale to happen!

Sadly, in my opinion, free web analytics solutions have given rise to a lackadaisical approach to marketing and website optimization. The attitude is, “Just put Google Analytics on the site…simple…we’re done now.” Such a position has created a laissez faire attitude toward performance objectives. It’s as if Google Analytics lets marketers off the hook -- they’re not held accountable for their true performance or the performance of their marketing initiatives. Relative ignorance has become acceptable.

This ignorance manifests itself in several ways. Google Analytics, by default, gives 100 percent of the sales credit to the last (non-direct) touch. For the vast majority of dealerships, this last touch comes from a brand search for the dealership’s name. As a result, many sales leads are wrongly attributed to search, because most marketers just look at the overall impact of search, and don’t drill down into what keywords actually sell the cars. And, as ignorance is bliss, they invest more into that channel and then pull back on the very marketing campaigns -- display ads, social, TV, etc. – that ARE actually triggering consumers to search for the dealership in the first place.

Consider the following scenario. A customer first discovers your dealership via a third-party auto listing site. Then they come back to your site later by searching your dealer name on Google and clicking on an AdWords listing, which perhaps was right above a free Google organic listing for your website. By default, in Google Analytics, that AdWords click took 100% credit for that visitor, assuming as a fact that it was incredibly valuable, when it may have had no impact at all on whether or not that sale was made.

To further complicate things, approximately 2 out of 3 of all car buyers do not contact the dealership prior to their first dealership visit. So, “walked in” is the most commonly reported method for how initial contact was established. However, 83 percent of consumers reportedly visited a dealer’s website before stepping into the dealership.

Given these facts, nearly 66 percent of leads sourced as “walk-ins” are incorrectly attributed. And, the remaining leads are attributed on a last-click basis. This is a recipe for disastrous marketing decisions which have a long-lasting ripple effect by reducing or eliminating what are in fact effective marketing channels -- display advertising, social, third-party auto listing sites, video and TV. The very channels that keep the dealership top-of-mind throughout the consumer purchase path and trigger consumers to search for a dealership. Even Google underscores the importance of using a variety of mediums to trigger brand searches in their study: “Vehicle Shopper Path to Purchase Study.”

While Google Analytics is touted as “free,” we all know nothing in life is really free. It’s a fallacy to believe there are no costs involved. There are real costs, in dollars, to managing Google Analytics in a way that gives true and valuable insights to marketing. This includes the huge hidden cost of incorrectly allocating marketing spend to the WRONG channels and losing out on the lift that the RIGHT channels would give you.

In addition to investing in modern digital analytics, don't abandon traditional tried and true advertising tactics that have served you well for years. Instead, find a partner that can help to measure and analyze the effectiveness of marketing for the entire purchase path of all your customers– offline, online and everywhere in between. Then make decisions based on real attribution data, not data which is biased towards an attribution model that benefits the company providing free analytics tools. You’ll find your decisions are more beneficial and will see that your marketing spend is much better optimized. And because of that, you’ll sell more cars.

I hope that this blog helps explain in more detail the question I received from the panel during my Innovation Cup presentation at the 2016 DrivingSales Executive Summit. We’re very honored to win the award this year and excited for our future. We look forward to helping dealers sell more vehicles by better optimizing their advertising spend!.

Steve White

Clarivoy

CEO

1350

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Steve White

Clarivoy

Nov 11, 2016

Multi-Touch Attribution in a Nutshell [VIDEO]

Clarivoy CEO & Founder Steve White explains the multiple attribution models that exist in this short video blog.

 

Steve White: Attribution in a Nutshell from Clarivoy on Vimeo.

 

 

Steve White

Clarivoy

CEO

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Steve White

Clarivoy

Nov 11, 2016

Clarivoy Announces Native Integration of Multi-Touch Sales Attribution Solution into Google AdWords

For the first time auto dealers can have total certainty how many vehicles AdWords sells

Columbus, OH (November 9, 2016) Clarivoy today announced the native integration of its industry-leading Multi-Touch Sales Attribution solution into Google AdWords. The integration includes its proprietary Anonymous Attribution technology, which identifies the online and offline purchase paths of buyers who choose to remain anonymous, ensuring a large percentage of all sales are properly attributed to specific keyword, YouTube and display campaigns.

Dealerships currently piloting the native integration have seen impressive results. In fact, according to Alan Krutsch, Director of Marketing and E-Commerce at Apple Autos, Clarivoy was able to identify $2.2 million of previously unattributable monthly sales for his dealership, providing a much more transparent view of which ads really contributed to sales, “As dealers we spend all of this money on marketing tactics and not enough energy and money on analysis and insight. This new integration enables us to make smarter decisions based on facts and data. As marketers we need to optimize campaigns based on data that is flowing through AdWords or our bid management platform. The native integration of Clarivoy’s Multi-Touch Sales Attribution solution into AdWords gives us vital insight and certainty on what is working -- and that’s priceless,” said Krutsch.

According to Clarivoy CEO Steve White, Clarivoy’s native integration into Google AdWords allows dealers to optimize their AdWords campaigns based on actual sales data - not vanity metrics. “There is a total disconnect. Many dealers think AdWords is working for them. However, they only know half of the story with clicks and don’t truly know what sales can be attributed to their campaigns. And even those that have taken on the arduous task of matching buyers to their AdWords tracking codes are extremely disappointed with the low amount of sales they can identify, since a large percent of buyers never self-identify in their buying journey. Now, for the first time ever, auto dealers will know how many vehicles AdWords sold for them in any given month,” White stated.

Clarivoy’s Multi-Touch Sales Attribution platform uses proprietary attribution algorithms that help marketers discover what’s really driving sales. It is uniquely focused on user-level attribution, allowing clients to transparently view a consumer’s full purchase path, sorting and ranking the influence of each channel’s contribution – paid search, display ads, TV, email, third party websites, organic search, social, and brand website.

The new integration into Google AdWords collects and pairs all AdWords clicks and calls to the appropriate vehicle buyer while fractionalizing the credit within AdWords, ensuring no over-attribution to any one keyword, campaign or ad group. Designed for ease of use, all dealers need to do is install Clarivoy’s simple tracking code and provide DMS access to sales.

Clarivoy’s native integration into Google AdWords will be unveiled at the upcoming Kain Automotive Clients & Friends Digital Success Workshop, November 15th- 17th at the
21c Museum Hotel, Lexington, KY.

For more information, or to sign up for a product demonstration, visit: http://www.clarivoy.com

# # # # #

About Clarivoy           

Clarivoy is the auto industry’s leading provider of multi-touch sales attribution and advanced digital targeting tools. Their solutions reveal more about their clients’ customers, their advertising and their path to success so they can drive more sales.  Clarivoy’s proprietary technology grants marketers incomparable visibility into their customers and campaigns – across all channels, all devices – online and offline.  Armed with this new information, marketers can stop guessing and start knowing what is working and what is not. http://www.clarivoy.com

Steve White

Clarivoy

CEO

2140

1 Comment

Alex Lau

AutoStride

Mar 3, 2017  

Nice!

Steve White

Clarivoy

Nov 11, 2016

How Will You Stay Competitive in a Down Market?

With automakers expecting a slow-down in sales we should soon see how each manufacturer chooses to respond.

Typically, when looking to boost sales, OEMS add incentives or special lease deals. However, that may not be the right strategy. These types of campaigns tend to end up starting a domino effect that creates a catalyst for competing manufacturers to offer similar incentives in order to maintain market share.

Just as reported in a recent article in Automotive News, in down times, typically manufacturer’s gloves come off as they battle for consumer buying attention through marketing and incentives.

This has an effect on dealers of all brands who must then react to what’s happening in their personal markets to stay competitive and keep the lights on at their dealerships. For many, simply throwing more money into marketing will be the go-to solution – very similar to what manufacturers are expected to do – but is that the right answer?

The majority of dealer marketing is price-centric -- designed to lure customers to the dealership through big discounts. When manufacturers as a group start throwing incentive money right and left, dealers react by reducing their prices causing competitors to follow suit. This infinite circle of react-and-respond behavior typically includes an increased marketing spend. Dealers order more leads and, in general, invest more money in traditional and digital advertising. Oftentimes, this increase in budget is welcomed by their vendors. Why not? Of course the vendors like more business. But is increasing marketing spend actually going to matter if the competition is simply following suit?

I get it. Our industry tends to be numbers based. Get more people in the showroom and we’ll sell more cars. How do we get more people in the showroom? Spend more money. While that formula may seem logical, with just basic data to work with, many dealers find that they’re spending money in all the wrong places and not spending money where it should be spent. They see poor marketing results and end up pulling their hair out trying to figure out what works and what does not.

In no way am I saying sit back, relax and let your competition eat your lunch -- and steal your customers. What I am saying is that sadly, some dealers simply don’t know what marketing actually works to drive customers into their dealerships outside of a vendor rep taking credit, or looking at a source in the CRM to determine which advertising methods produce sales.

Without a larger picture, it’s almost impossible to truly judge what marketing strategies pay off and which ones don’t. You may not have to spend more money at all to “keep up with the Joneses.” But rather spend the same amount of money you’ve been spending – only spend it smarter.

Consider taking a holistic approach to your marketing spend and touchpoint influences. This will help to identify where you can improve, which channels are influencers and which ones aren’t. Armed with that knowledge, decisions can be made that could result in an increase in sales without an increase in marketing spend.

And, if we do find ourselves in a downward sales period, the ability to spend money more intelligently could be exactly what your dealership needs to remain competitive without emptying your bank accounts.

Steve White

Clarivoy

CEO

1117

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Steve White

Clarivoy

Oct 10, 2016

Clarivoy’s Proprietary TV Analytics Solution Selected as Finalist for Most Innovative Solution

Columbus, OH (October 18, 2016) - Clarivoy, the automotive industry’s leading provider of multi-touch sales attribution, today announced that the company’s proprietary TV Analytics solution has been selected as a finalist for the eighth annual DrivingSales Innovation Cup Award, which recognizes the most innovative dealership solutions of 2016. Many companies applied, but DrivingSales’ panel of dealer judges could choose only five finalists to compete for the award.

Finalists will compete onstage for the Innovation Cup Award at the 2016 DrivingSales Executive Summit (DSES). The event, to be held at The Bellagio in Las Vegas, brings the most progressive automotive dealers in the country together to discuss innovative and effective trends that can drive increased sales.

Clarivoy’s proprietary TV Analytics solution stringently maps online traffic to TV ads, matching advertising spot data with website visitors granting advertisers a transparent snapshot of which TV ads truly influence sales.

Dealers who used TV Analytics were able to make data-driven decisions for their media buys that helped decrease their cost per website visitor as much as 2X. TV Analytics also provided the visibility one auto dealer group needed to intelligently broaden their cable reach, maximize the investment they make in TV, reallocate more spend (16%) to cable and reduce their cost per website visitor by 62 percent.

Agencies also greatly benefit from this solution. In fact, by combining TV Analytics data with cost information, one agency shifted their investment in underperforming spots to local insertion and upgraded other national inventory to higher converting and more socially active networks. As a result they achieved a 40 percent lift in their schedule’s performance.

Clarivoy’s intuitive TV Analytics dashboard lets dealers quickly visualize the impact of their advertising:

  • Identifies which networks, programs, creatives and dayparts convert potential consumers into buyers.
     
  • Optimizes cost per response by identifying the most efficient website traffic drivers.
     
  • Uses adaptive data learning analytics that evaluate a trailing 12-month media buy to calculate net profit and cost per resource, illustrating which campaigns are phenomenal, which are flat and which are failing.
     
  • Powered by a proprietary graph model, the solution extracts “important influences” from hundreds of spots and months of data, assigning true proportional credit.

“I am extremely proud of our team at Clarivoy and delighted that dealers have chosen our proprietary TV Analytics solution as a finalist for Most Innovative Dealership Solution. Today’s market is so competitive that when it comes to understanding the results of their advertising, dealers can’t afford to guess anymore,” said Clarivoy CEO Steve White.

“In order to efficiently manage their budgets and get the most impact and ROI, it is vital that dealers know the real results of their ad spend and not rely on last click attribution. TV Analytics allows us to connect offline and online activity making this solution a great addition to our suite of multi-touch sales attribution tools. I am very excited by the results our advertising agency partners and top dealers such as Germain Motor Company and the Andy Mohr Auto Group are seeing as a result,” White added.

White has also been chosen as a speaker at the summit. His session, titled “Tools for the Advanced Dealer Marketer: From Free to Fantastic” will focus on helping marketers understand the spectrum of tools available (from free to fantastic) to measure the results of their online and offline advertising along with the advantages and disadvantages of each. Attendees will also learn how to use free or low cost tools to get some of the same data that the “fantastic” tools provide and how to move beyond the first layer of “vanity” metrics to discover data that will really drive their business.

Dealers can receive a $100 discount off current registration rates by visiting http://www.clarivoy.com/dses.

# # # # #

About Clarivoy           

Clarivoy is the auto industry’s leading provider of multi-touch sales attribution and advanced digital targeting tools. Their solutions reveal more about their clients’ customers, their advertising and their path to success so they can drive more sales.  Clarivoy’s proprietary technology grants marketers incomparable visibility into their customers and campaigns – across all channels, all devices – online and offline.  Armed with this new information, marketers can stop guessing and start knowing what is working and what is not. http://www.clarivoy.com

Steve White

Clarivoy

CEO

965

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Steve White

Clarivoy

Oct 10, 2016

Attribution: Whose Sale Is It Anyway?

In most dealerships a dispute inevitably arises between salespeople over a sold customer. Perhaps it’s because one salesperson initially assisted the customer and a second closed the deal and delivered the vehicle while the first was off for the day. And what happens when a customer visits multiple times and perhaps a third salesperson is involved?

Most dealerships won’t split deals more than two ways – typically first and last – with that third salesperson receiving nothing for being in the middle. The question then becomes who was most influential in the sale of that particular customer? Was it the first person, the last person or the person in the middle?

It’s hard to make that judgement. Why then, do dealers typically have the whole “first and last” rule without giving any credit to the salesperson in the middle? My guess is because it’s the easy way. In an extreme example, what if 10 salespeople helped that customer before they purchased? Depending on the length of time and the dealership’s protection policy, typically the first and last salespeople would be the only ones credited with the sale and paid on it. Is that fair? Did the other eight salespeople involved in the sale really have no influence on the sale whatsoever?

I guarantee that each and every one of those salespeople influenced the customer in some way – whether that was to build trust, explain features, answer questions, go on test drives or whatever – they all played a part in guiding that customer towards the desired final destination… a sale. It would be difficult to calculate how to split a commission 10 ways, or determine which salesperson had what amount of influence. I get that. It’s hard and the easiest way is to simply stick with first and last.

OK, so attribution is difficult enough with salespeople. But what about everything that happened that drove that customer to your dealership?

When we dive into the digital world of sales attribution, many dealers tend to follow a similar path. Keep in mind that most dealers get data from individual vendors and that bias can certainly be reflected in the data. For example, a third-party listing site may take credit because the customer converted on a VDP form, or called a tracking number. Or a widget company would take credit because the customer converted on their widget.

The fact is that not one singular entity is ever responsible for the entire customer journey and, because of that, no sale can be fully attributed to a single source. The customer’s car buying journey today encompasses multiple touchpoints and each and every one has some influence in that customer’s decision about which car to buy and where to buy it. Yet I see dealers continue to make decisions based on what are, in my opinion, erroneous attribution models.

The majority tend to fall into “first-click” attributors who believe that only the first touchpoint should be credited with the whole sale. Then there are the “last-click” attributors who believe the last touchpoint should receive all the credit for the sale. These attribution metrics are certainly an EASY way to make decisions about which vendors, listing sites, or media to allocate budget to. However,  neither will help you make a truly informed decision. In fact, subscribers to either one of these models may actually be harming themselves by cutting out a touchpoint simply because they believe it has no influence on their buyers when in fact it does. This makes their marketing strategy less effective, resulting in decreased sales.

 

So, if “first-click” and “last-click” aren’t the answer, then what is?

Unlike the salesperson attribution dilemma, digital marketing is quite the opposite. With digital and/or traditional media, the dealer pays for exposure before any sale is ever made. Having data on how each and every medium affected any particular buyer is paramount in making the most effective and cost-efficient use of your ad budget. Today’s technology enables you to do this. It’s called a multi-touch attribution model… and it’s something worth paying close attention to.

 

The philosophy of this model is that each and every touchpoint the customer visited influenced the sale. Yes, some may have influenced that sale more than others, but each one played a part. Knowing how much influence each touchpoint had on that specific buyer’s road to the sale enables you to make truly informed and educated decisions with your advertising dollars.

Consider changing the way you make decisions. Perhaps it is not such a great idea to rely purely on vendors who want to convince you that their solution is wholly responsible for the sale – that will never be true.

With the right data – and that data is available – you can track the customer’s entire journey (even the transition from offline media to online) and decide where best to allocate advertising dollars. First and last will never be accurate and are not the best metrics to influence marketing decisions.

In today’s world consumers are influenced by many factors – both on and offline – and knowing which of these stops on their journey are most influential will help you make decisions that produce true results, not easy answers.

 

Steve White

Clarivoy

CEO

2617

2 Comments

Alex Lau

AutoStride

Mar 3, 2017  

Excellent article!

Steve White

Clarivoy

Mar 3, 2017  

Thank you. Glad you liked it.

Steve White

Clarivoy

Aug 8, 2016

Clarivoy Announces the Release of Anonymous Attribution to Remove Marketers’ Digital Blind Spots

Columbus, Ohio (July 22, 2016)- Clarivoy today announced the release of a new feature for their Multi-Touch Sales Attribution product. Anonymous Attribution identifies the online and offline purchase paths of more than 90 percent of a dealer’s buyers who choose to remain anonymous. Anonymous Attribution uses proprietary technology that matches a buyer to the devices, access methods, and sessions they used to shop for their vehicle.

While 83 percent of car shoppers visit a dealer’s website prior to visiting the dealer’s store, the majority choose not to self-identify by filling out a form, chat or a phone call. According to a Polk Automotive Influence Study, approximately 2 out of 3 car buyers do not contact a dealership via form submission or a phone call prior to their first visit. “This data gap leaves a huge blind spot in a marketer’s ability to accurately attribute sales to sources like paid search and third party sites,” said Clarivoy CEO Steve White.

The ability to provide purchase path data for a broader group of customers significantly increases the accuracy of sales attribution results. The insights derived from this broader data set show more clearly the results of keyword searches, display advertising, social referrals, and third party sites, leading to improved marketing performance.

“We believe this feature is a breakthrough in multi-touch sales attribution. Advertisers can, for the first time, observe all touchpoints that led to a conversion for the vast majority of their customers, even the ones who don’t fill out a lead form, call or chat,” added White.

In fact, one Clarivoy client was able to double their customer match rate using Clarivoy’s Anonymous Attribution feature, granting them valuable insight into the impact of their paid search campaigns.

Clarivoy’s Multi-Touch Sales Attribution platform uses proprietary attribution algorithms that help marketers discover what’s really driving sales.  It is uniquely focused on user-level attribution, allowing clients to transparently view a consumer’s full purchase path, sorting and ranking the influence of each channel’s contribution – paid search, display ads, email, third party websites, organic search, social, and brand website.

About Clarivoy

Clarivoy is a marketing technology firm specializing in unified, unbiased business intelligence. Our solutions reveal more about our clients’ customers, their advertising and their path to success so they can accelerate sales and amplify results.  Clarivoy’s proprietary technology grants marketers incomparable visibility into their customers and campaigns – across all channels, all devices – online and offline.  Armed with this new information, marketers can stop guessing and start knowing what is working and what is not.

 

Contact

Katie Robinson

VP, Marketing

katie@clarivoy.com

614.975.4514

Steve White

Clarivoy

CEO

1705

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