Dealer.com Dealer Results Using HookLogic

hooklogic ddc results

Okay - this gets exciting so follow me here...

Over the past few months, we have been talking about "Building the Ultimate Attribution Engine”.  As part of that story, we introduced our new Purchase Analysis Reports powered by IHS Automotive, driven by Polk.

Over the next few months, we are going to break down sales data by OEMs, vendor partners, and marketing campaigns. Drawing the line between digital marketing and a sale in the showroom has always been blurry..until now.  You are about to see why HookLogic is used by so many dealerships and manufacturer programs.

The data and results in the below "info-ish-graphic" represents the real results for 193 dealerships using HookLogic's Web2Show feature and are on the Dealer.com website platform. There's quite a bit of information included so lets break it down, starting from the top and moving our way to the bottom.

Before we get started - I would like to point out that we have partnered with Polk to help acquire and validate the lead close rates for our customers.  This is provided by matching all leads to Polk’s census of vehicle registrations for actual close rates of all new and used vehicles purchased by the consumer submitting the lead. You can’t get any better than the data Polk provides.

Moving on...

Starting from the top, you see "Leads Generated". During the months of  January 2013 – June 2013 HookLogic Web2Show generated 29,577 leads for dealers on the Dealer.com platform. Of the 29,577 incentivized vehicle shoppers,  9,814 customers walked into a dealership during this time frame to test drive a vehicle. Of the total amount of leads submitted, 1 in 3 showed up at the dealership for a 33% Lead to Show rate.

Now lets get to the final result - A SALE!

Of the 9,814 incentivized customers that walked into this group of 193 dealers for a test drive, 6,320 or 65% Purchased a Vehicle between 1/1/13 – 6/30/13.

Dealer.com HookLogic Results

Let's agree, HookLogic nor any other marketing / lead generating feature has a direct correspondence to how well your sales floor can close deals. However, let's consider this - J.D. Power studies show that consumers are now visiting LESS than 2 dealerships before purchase. That equates to a 50% show to close ratio on average by default. This group of dealers are closing Web2Show incentivized "shows" at 65%.

What's your dealers overall showroom or show to close ratio?

A better question might be - what's your dealers Lead to Show Rate?Because without shows, you sell...very little.

Let's be real, most dealers anymore do a good job at closing the customer once they show. How can you not, if on average consumers are visiting Less than 2 dealers before purchase? In todays world, it truly comes down to your dealers Show Rate. Whether it be from a lead originating from your dealers website form, 3rd Party Lead Provider, Online Chat or HookLogic Web2Show - if you can get more in-market shoppers to Show Up, you're going to sell more vehicles.

Dealers using HookLogic's suite of features get MORE  in-market shoppers to SHOW!

BTW - quick math for you internet managers that measure your Lead to Close/Sold, the closing ratio on Web2Show Leads generated from this group of  dealers was 21%.

Note: HookLogic has been recently added to the Dealer.comCertified Provider Program. In addition to expedited installation and training, this will provide you with integrated reporting in your dealer dashboard. HookLogic’s Web2Show and Lead2Show solutions can be added in the Marketing Upgrade Center or by clicking here. 

Key Partnerships Set the Stage for Innovation

Good partnerships can go a long way in the auto business. They aren't always easy to establish or maintain and sometimes they come with challenges and limitations, but when you have an opportunity to do business with another company that doesn't just use your product but has the ability to take it to new heights, that is when you want to put your options on the table. Throughout the past several months, we here at HookLogic have been busy introducing the AutoHook Web Suite to dealers and  other automotive organizations throughout the automotive space and building our own presence online and throughout. We have been implementing AutoHook onto dealer websites across the country and even started experimenting with the technology in other implementations.

During this time we have also been forging key strategic relationships with a small handful of players in our space, and this week as it turns out we have the fortune of announcing two of these new key partnerships just in time for this year's NADA conference in Las Vegas.

ActivEngage and HookLogic Partner to Provide Comprehensive Solution for Automotive Dealers

The first of these is our newly formed partnership with activEngage. Based out of Orlando, FL, activEngage is the industry's leading chat provider who as made quite a splash in our space these past couple of years. The company's track record with dealers using activEngage's chat solution on their websites is second-to-none and with the inclusion of HookLogic, activEngage and its dealers will now have the ability to benefit from HookLogic's large incentive network to qualify even more customers during the chat process and bring those people into dealership showrooms. Naturally we are excited about the possibilities here and look forward to seeing how our technology and incentive marketing stand in the online chat environment.

Dataium and HookLogic Partner to Give Dealers New Auto Shopper Insights

In addition there is the announcement about our partnership with Dataium. Based in Nashville, TN, Dataium is the industry's leading data utility company that provides critical business intelligence insight through the aggregation and analysis of consumer activity from across the Internet. HookLogic has partnered with Dataium to provide intelligence specific to our Lead to Show product.

The partnership with Dataium puts both companies on a platform to achieve something that has been virtually unattainable until now. With Dataium, dealers using HookLogic now have the ability to reach out to potential customers with precision timing that was only dreamed of before now. As a result, dealers using HookLogic's Lead to Show 3.0 product will be able to automatically re-activate old leads based on behavioral indicators demonstrated by previously identified auto shoppers.

What this Means for Dealers

While growth and success are important, so too is knowing how you got to where you are and who helped you get there. For HookLogic dealers, these new partnerships set the stage for even more innovation and in this case this innovation will be among some of the industry's leading players.

The technology behind HookLogic has been tested and proven in numerous environments, mostly outside of automotive considering that HookLogic got its start in the travel business helping online travel booking sites such as Expedia.com better monetize its online reservation system. Our experience in e-commerce will benefit our dealers and our partners by streamlining the incentive marketing process and bringing more people into our dealership showrooms to buy new vehicles.

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