Text is now the preferred method of communications for U.S. adults. It has a 99% open rate compared to email’s 20% (at best), making it a far more effective form of communication. However, most dealerships’ websites still have countless clever — and annoying — ways to attempt to get a consumer to fill out a lead form.
While measuring sales and service revenue by marketing campaign may reveal which campaigns are yielding positive ROIs and which are not, this approach doesn’t reveal why the campaigns are performing the way they are.
To reach these objectives, dealership managers will need to embrace change. There are new metrics and methods to determine which marketing channels are supporting the goals of the business. One of the changes managers will need to embrace, for example, is that metrics such as cost per click (CPC), impression share, bounce rate, and time on site (TOS) should not be included in the list of key performance indicators (KPIs).
“Marketing analytics and attribution are hot topics of discussion at larger dealer groups seeking to intelligently reduce budgets in a slowing sales climate.”