Jeremy Anspach: How to Maximize Inventory Conversion from Search to Showroom
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Jeremy Anspach: How to Maximize Inventory Conversion from Search to Showroom
- 1. How to maximize Inventory Conversion from Search to Showroom. Jeremy Anspach Page 41
- 2. Search to SHOWROOM Presented by: Jeremy Anspach CEO / Co-Founder of PureCars
- 3. / Passionate about the car business since age 3 / Twin boys Noah and Eli in training / Live in Charleston, SC
- 4. PureCars Mission: To provide more relevant information to improve the car buying experience. Founded PureCars in 2007
- 5. / INC. 5000 Ranked #141 / Fastest-Growing Automotive Company in the Country / Featured Cover Story in Digital Dealer / Google Partner that is Philosophically Aligned
- 6. It is now a digital world…
- 7. 24Sources 1.4 Visits 11 HOURS 97% Compared to 18 from ZMOT 2012 Spent online shopping for a pre-owned vehicle To the dealership prior to purchase, compared to 4.5 visits in 2007 Consumers shopping online prior to purchase Consumer Behavior has Changed.
- 8. Adults 18+ Media Consumption Internet TV Radio Traditional Media 39.8% 36.5% 13.2% 5.4% 2012 Ad Spending Share of US Automobile Dealerships, 2012 Consumer behavior Dealer behavior / 201
- 9. Adults 18+ Media Consumption Internet TV Radio Traditional Media 39.8% 39.5% 13.2% 5.4% 2012 Ad Spending Share of US Automobile Dealerships, 2012 Consumer behavior Dealer behavior / 201
- 11. Search is part of our lives.
- 13. Organize the world’s information and make it universally accessible and useful. Google’s Mission: RELEVANCY
- 14. Organize the world’s information and make it universally accessible and useful. Google’s Mission: RELEVANCY
- 15. Google Dominates with 69% Market Share 17% - Bing 10% - Yahoo
- 16. Why?
- 18. Organize the world’s information and make it universally accessible and useful. Google’s Mission: RELEVANCY Advertising Platform
- 19. Google AdWords Vertical Agnostic Campaigns (new, used, service, etc.) Ad Groups (model) Ads Keywords
- 21. Rank = bid x GQS It’s not just about the bid. BID X GQS = HIGHER RANK
- 22. NEW
- 23. USED
- 24. Right Approach?
- 25. What do you want to market?
- 26. Whole lot?
- 27. Photos & Price
- 28. Photos & PricePriced Below Market
- 29. IN DEMAND
- 30. $$$$$$$ Ideal to Market Sales Efficiency, Margin, Etc.
- 31. WHERE do you want to market?
- 33. Right Approach?
- 34. Sold Data
- 35. Market Data Pump In / Out Sales Efficiency
- 36. CRM Data 4 leads = 1 sale 25 leads = 1 sale 10 leads = 1 sale Selling Opportunity Estimation….A little math
- 37. WHO do you market to?
- 39. Right Approach?
- 40. Research “Best gas mileage…” “Best truck under $50,000…” “Reviews…”
- 41. BROWSING “Best Honda accord price…” “Honda accords for sale…” "Reviews..."
- 42. BUYING “Black Honda Accord with Leather…” “Used White Chevy Truck 4x4…” “Black Honda accord for sale…”
- 43. Desktop vs. Mobile 47% of all automotive search queries come from mobile Source: Google Internal Data.
- 44. Mobile Search is Critical During the Shopping Process Source: Google/Compete/Polk, Auto Buy Flow Study, June 2012 44% Use their device for price comparison on the dealer lot.32% Use their smartphones to find a dealership. 36% Use mobile for contacting dealerships. 46% Check inventory in stock. 48% Looked up dealer information .
- 49. 3D Targeting color trim certified YMMT payment mobile
- 61. Shoppers Request Toyota SUV Price/Pa ymentDeals
- 62. Mobile SEM
- 64. How SHOULD it be?
- 65. Searching for… Used Chevy Tahoe LTZ
- 66. Searching for a Used BMW X5 with Third Row Seat
- 67. Searching for a New Chevy SUV
- 68. Land them on a Relevant Device Optimized Page
- 69. How do I track ROI?
- 71. Impressions Impressions Inventory / Keyword Buy Search Demand Budget Geo
- 73. Clicks Clicks Ad Messaging Dealer Brand Equity Rank Freq.
- 74. Quality Score Relevant Ad Relevant Landing Page Good CTR Higher Rank Lower Cost
- 75. Conversions Funnel of Keyword Buy Landing Page Relevancy Merchandising Photos $$ Recon
- 76. KPI Noise Leads only come from 1% of web shoppers. Photos
- 77. Display ads further sweeten the pot Note: among respondents who recalled all 15 brands tested without being provided a list of the 15 brands Source: iProspect, “Real Branding Implications of Digital Media – an SEM, SEO and Online Display Advertising Study” conducted by comScore Inc., Nov 2, 2010. organic search listing paid search listing 4% increase in likelihood to purchase 6% increase in unaided brand recall online display ad 300 x 250
- 78. Paid search reaches people you wouldn’t reach organically Source: Incremental Clicks Impact of Search Advertising, Google, July 2011: http://googleresearch.blogspot.com/2011/07/studies-show-search-ads- drive-89.html Paid Organic Organic clicks rise, but only slightly Not enough to recover the lost paid clicks Organic 88%of clicks are lost on average for automotive advertisers
- 79. Paid and organic search better together Note: among respondents who recalled all 15 brands tested without being provided a list of the 15 brands Source: iProspect, “Real Branding Implications of Digital Media – an SEM, SEO and Online Display Advertising Study” conducted by comScore Inc., Nov 2, 2010. paid search listing organic search listing 16% increase in likelihood to purchase 6% increase in unaided brand recall
- 81. Retargeting
- 82. 2. Adobe CMO.com Dynamic Display Ads & Dynamic Headlines VDP Matching
- 83. How much should I spend?
- 84. Probability
- 85. Probability
- 86. Probability Source Leads Spend CPL Sales CPS Direct Mail 57 $48,900.00 $857.89 4 $12,225.00 SEM 414 $13,800.00 $33.33 87 $158.62 Source Leads Spend CPL Sales CPS Direct Mail 88 $36,800.00 $418.18 3 $12,266.67 SEM 930 $47,200.00 $50.75 145 $325.52 Source Leads Spend CPL Sales CPS Direct Mail 10 $15,000.00 $1,500.00 1 $15,000.00 SEM 603 $29,500.00 $48.92 88 $335.23 Source Leads Spend CPL Sales CPS Direct Mail 45 $36,800.00 $817.78 6 $6,133.33 SEM 611 $28,400.00 $46.48 129 $220.16 Store A Store D *Note, SEMsales are a combination of website forms and calls generated. Store C Store B
- 87. How much should I spend?Fixed Budget? THINK ECOMMERCE Dominate Traditional? (ZMOT) Competitor Wins. Web
- 88. How much should I spend? THINK ECOMMERCE Dominate Traditional? (ZMOT)
- 89. How much should I spend?Fixed Budget? THINK ECOMMERCE Dominate Traditional? (ZMOT) Competitor Wins. Web
- 90. Implementation OptionsD.I.Y Agency Tech Platform (Automated) Agency Integration Who, What, Where, Why?
- 91. Questions? WANT A FULL DIGITAL REVIEW? TALK TO US AFTERWARDS!
Editor's Notes
- As you KNOW Consumer behavior has changed. Today shoppers are spending over 11 hours doing research on over 24 sources…As a result shoppers the research is influencing the shopper 97% of time towards making their purchase decision ONLINE and verifying their decision in the showroom and that is why the # of dealers visited are down to only 1.4…..In 2007 it was 4.5.
- Source: http://searchenginewatch.com/article/2345837/Google-Search-Engine-Market-Share-Nears-68
- 72% of search sessions involve cross shopping
- Mobile is critical
- This is one of the searches we performed for a “Used Chevy Tahoe LTZ…” You can see the paid searches are either missing Model and Trim, some Make Model and Trim, the last one even just says used cars for sale….every one of these has a relevancy issue. As I mentioned, we built a relevancy engine, so we match the searchers request 100% of the time with a highly relevant Ad, since we have more data. <Next Slide>…. This is an example of what a PureCars Ad would look like… 15 Used Chevy Tahoe LTZs, some with……. Etc. Even site extensions are dynamic to the searchers request. Through our partnership at Google, we have access to beta features that even those with Google Adwords APIs don’t have access to. Look at what the site extensions were on the the Ad I just showed….. <CLICK BACKWARDS> Now, our Site Extensions…. (Tahoe Lease Special, 9 Tahoes with Navigations,…….) Our site extensions are changing in real time, based on each consumer search! IT’S HUGE! The relevancy of your site links also factors into your ad rank, and our technology allows us to never have to guess at what the right message is. T: Does that make sense?
- Now, Here’s a search for a “Used BMW X5 with Third Row”….Sure it’s long-tail, but if you had an X5 w/ 3rd Row, you’d want it to be ranked. We couldn’t find one paid ad showing options!... I could’ve typed in a Silverado or Tahoe with Nav or 4 wheel drive, anything like that. There are no paid ads. Highlighting options. Our Ad would read….”Used BMW X5 with Third Row…4 to choose from, starting at $23994”….and this is just one of many ad variations to choose from… T:…..And We didn’t stop with inventory…
- Now, Here’s a search for a “Used BMW X5 with Third Row”….Sure it’s long-tail, but if you had an X5 w/ 3rd Row, you’d want it to be ranked. We couldn’t find one paid ad showing options!... I could’ve typed in a Silverado or Tahoe with Nav or 4 wheel drive, anything like that. There are no paid ads. Highlighting options. Our Ad would read….”Used BMW X5 with Third Row…4 to choose from, starting at $23994”….and this is just one of many ad variations to choose from… T:…..And We didn’t stop with inventory…
- Now, Here’s a search for a “Used BMW X5 with Third Row”….Sure it’s long-tail, but if you had an X5 w/ 3rd Row, you’d want it to be ranked. We couldn’t find one paid ad showing options!... I could’ve typed in a Silverado or Tahoe with Nav or 4 wheel drive, anything like that. There are no paid ads. Highlighting options. Our Ad would read….”Used BMW X5 with Third Row…4 to choose from, starting at $23994”….and this is just one of many ad variations to choose from… T:…..And We didn’t stop with inventory…
- Once display advertising is added to the marketing mix, likelihood to purchase increase by 4% and unaided brand recall increases by 6%. When shoppers learn about your brand through multiple media outlets they are more likely to remember your brand name and ultimately buy from you. This also exemplifies why we can not measure search ad performance against display ad performance separately, but rather we need to evaluate how display ads strengthen your search ads.
- Let’s take search for example – paid search and organic search are connected, we’ve found that paid search covers many more keywords that organic search. Paid search provides much greater coverage than organic search. Specifically, when advertisers turn off paid search campaigns they lose 88% of their search traffic to their site. This means that organic clicks will capture a small portion of new traffic but by enlarge the traffic is lost to the advertise.
- Additionally, 16% more likely to purchase and 6% more likely to remember the brand name. This can be attributed to the fact that shoppers have greater confidence in advertisers as they appear multiple times within a search results page. Not only does this hold true for paid search.
- Use an example keyword search visual related to the general display being served through simplify. Use snippet if next to get clear placement on reputable web site