AutoConversion
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?
Ryan is a creative, resourceful, and resilient automotive B2B sales and marketing technologist who works with people and businesses on a variety of levels to help elevate their game, their brand, and their businesses. Text 'autoconversion' to 555888 to opt in and receive text communications from Ryan @ AutoConversion.
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5 Comments
Mark Rask
Kelley Buick Gmc
From a digital standpoint we use google analytics of course.....we also have it tracking each click not just the final click
Eduardo Aragon
FlexDealer
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
AutoConversion
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
Kelley Buick Gmc
We do have that set up....
Katie Robinson
Clarivoy
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