10 WAYS TO BOOST SOCIAL CONVERSION WITH AUTOHOOK INCENTIVES

A How to Guide for Dealers

Why Social? Marketing 101 says if you want to effectively reach your customers you have to be where they are, or “in the right place at the right time.” Social media represents the most widely utilized communication channel in existence. Salesforce reported 66% of all Internet usage occurs on social sites. Facebook takes the cake as the most widely used platform with 80% of Americans using it on a regular basis (talk about being where your customers are).

Why AutoHook Incentives? That’s an easy one. In order for a customer to redeem an AutoHook incentive, they have to physically walk into a dealership. We all know the chances of selling a vehicle drastically increase when you’re able to get shoppers off the Internet and into your store. But what AutoHook does that’s even more important than driving more showroom visits (yes there are more important things), is we use the most up-to-date sales match reporting to prove exactly which incentive offers resulted in a sale.  

Below are 10 ways to boost the revenue driving opportunities already available to you as an AutoHook customer. Simply reach out to your AutoHook Client Service Specialist (CSS) to implement any of the examples listed below. They will help you set up campaigns and make sure these efforts convert into sales or service appointments.

1. PLUG INCENTIVES INTO YOUR EXISTING SOCIAL CAMPAIGNS

Plugging in an incentive into any social campaign is very simple to do. All AutoHook needs to know is the URL of the landing page you want to drive traffic to - whether it’s a specific vehicle, model, service offer, or special. We then provide you with a trackable link you can drop into any Facebook or social campaign. We attach a unique identifier to every offer so we can prove sales attribution for your store. Furthermore, we source out every link separately so that you can differentiate which specific AutoHook campaign converted into a showroom visit or sale in your CRM.

• Customize Time Frame & Offer Amount: All we need from you is the landing page you’d like to promote, the value of the incentive you’d like to offer and the time frame in which you’d like the campaign to run.
• Ex: Boost your new vehicle specials with a $50 offer.

2. USE YOUR CRM DATA TO CREATE CUSTOM AUDIENCES

We know no two dealers and no two markets are the same. Therefore, we don’t believe in one-size-fits-all solutions. Despite what vendors try to tell you, no one knows your pain points better than you. The most valuable data you have at your fingertips is your own customer data. Use this to pull targeted lists that address your unique needs and then work with a Client Service Specialist (CSS) to implement the campaign on social.

Here are a few examples to get the wheels turning:

• Pull a list of customers who are in equity and provide an incentive for them to get into a new vehicle for the same monthly cost.
• Consolidate a list of all active leads across all your 3rd party sources and retarget those individuals all in one place.
• Use equity-mining software such as AutoAlert to identify all customers in your market who have upcoming contracts ending on a lease or purchase.
• Target customers who visited your service drive but did not purchase from you.

3. ELIMINATE WASTED TIME & MONEY

Wouldn’t it help to know which leads in your CRM have already purchased so you don’t waste time and money trying to sell them? A high percentage of car buyers are only in market for a relatively short period of time. Through near real time sales data from Urban Science, AutoHook can help you identify which customers are no longer in market for a vehicle. No one (not even the OEMs) has access to this data within DAYS after sales transactions occur (rather weeks or months). Work with your CSS to create a suppression list of all the customers currently in your CRM that have already purchased a vehicle elsewhere.   

4. INCREASE CUSTOMER RETENTION

This is a HUGE and often undervalued aspect of the car business. Retention is half the battle. We know 30% of people will defect to a different brand after their lease is up. Use an incentive to ensure they come back to your store to test drive the newest model or any other vehicle they might be interested in. Mine your CRM data to find consumers who are “in equity” or who have a lease coming to term in the next 3-6 months.

5. TARGET UNDERPERFORMING MODELS

Real Dealer Case Study: Germain Ford of Beavercreek

• Using the data found within the MarketMaster tool and Urban Science’s shared sales database, AutoHook identified specific areas of opportunity for Germain Ford of Beavercreek to grow their market share by targeting the top three models they were losing to competitors (including the Ford Focus, Fusion, and Edge). We then implemented a $50 test-drive incentive on all Focus, Fusion and Edge VDPs and SRPs, while running social campaigns to drive traffic to those pages. The result was a 47% reduction in overall lost sales (pump-in). Click here to see the complete case study.

Can’t move a VIN off your lot? Try increasing the dollar amount of the test-drive incentive.

6. TARGET UNDERPERFORMING AREAS

Utilizing Market Master, AutoHook can help you identify the zip codes in which you’re losing the most sales opportunities. We can also show you the areas with the highest levels of pump-in sales and increase the incentive offer to come in for a test-drive in those underperforming areas. This will help you take back market share from the top brand competitors in your market.

Never heard of Market Master? A lot of dealers don’t know this powerful revenue driver exists. Market Master is an Urban Science tool that uses near real-time sales data to identify the biggest areas of opportunity within your market. It’s typically located within your dealer portal through your OEM (currently available for Ford, FCA, Honda, Hyundai, Toyota, and Nissan). 

7. CONQUEST TOP COMPETING BRANDS

Go after the models you know you’re losing to competitive brands in your market. Tailor the creative and messaging in your social ads to express why your brand is the better choice. For example, “Before you go back into a new Ford F150 here’s a $50 Visa Gift Card to come in and test drive the Dodge Ram at Hometown Chrysler.”

8. PLUG INTO VIDEO PRE-ROLL

Custom links can be embedded directly into your video ads on Facebook. Need to move more of a certain model, try offering $25-50 just for coming in to test-drive the featured vehicle. Chances are, if they’re watching the video, they’re already interested.

9. SECURE MORE FIXED OPS APPOINTMENTS

Running service specials? Why not promote them on social to get more exposure? Use incentives in your service and parts campaigns on social sites. Here are a few examples:

• Schedule a service appointment and get a $25 Visa gift card.
• Buy 4 tires get a $50 Visa Gift Card.
• Get a $10 Amazon Gift Card just for getting your oil changed with us.

10. BOOST HOLIDAY SPECIALS

Memorial Day is coming up! Lift the performance of your limited time holiday offers with a $25 gift incentive (or an amount of your choice). Dealers spend countless amounts of money to get customers in the door. Why not spend another $25 to ensure the sale? This same idea can be deployed throughout the year to increase sales around the holidays and give wings to your current specials and holiday sales events. 

To conclude, the opportunities in which you can leverage AutoHook to boost the performance of your social campaigns are limitless. Plus you have the attribution reporting that goes along with it, so you know we’re delivering results in the form of sales and service revenue.

In January of 2017, AutoHook opened up our API so that other best in class technology vendors could tie in our incentive offers to their own existing solutions. SOCIALDEALER is the latest partner to join in our open API initiative. Current and future clients of SOCIALDEALER will see even higher form fill conversion rates on social due to their integration with AutoHook’s API. To learn more about the new capabilities of this partnership, click here.

VDP Views are the Top KPI…and Other Data Myths

by David Metter

MYTH #1: VDP views are the metric that matters most. 

Since when did VDP views become more important than sales? This is not an attempt to downplay the importance of driving traffic to your VDPs. Reputable evidence exists around VDPs being one of the last digital destinations car shoppers touch before visiting a showroom. But are vehicle details page views receiving significantly more attention than they deserve? Are dealers working backwards? Are we losing sight of our one true goal…to sell more cars? 

There’s no argument that with everything our industry is capable of measuring, it all comes down to physical transactions between customers and dealers, specifically units sold and closed service ROs. That’s what you measure before anything else. That’s the reason “big data” exists in the first place – to help you generate more sales and service revenue. Dealers have more data at their fingertips than they realize, and it’s easy to get caught up trying to navigate and make sense of it all. Goals become blurred and dealers lose sight of the end game.

Allow me to remind you of the end game. When it comes to dealership operations, NOTHING is more important than increasing sales, service revenue, and customer retention – and I’m happy to take on anyone who’d like to challenge that statement.

I think our industry has completely overcomplicated the idea of big data. The role it plays is actually quite simple. When you break it down, VDP views are #5 on the “what to measure” list. Below is the infrastructure of the order in which you achieve your end game of more sales, closed service ROs, and repeat buyers.

1.    Sales Data: Securing accurate and timely sales match data is paramount. There is nothing more important. Leverage sales match data to see if a customer bought from you or somewhere else? What make and model did they choose? Was it your brand or a competitor’s brand? Monitor your pump in and pump out percent to hold onto sales in your PMA.

2.    Service Data: Measure your closed service repair orders – especially during the critical period from after a sale to the first recommended service appointment. This is where most dealers experience the biggest drop off in retention. Did the customer come to your store for their vehicle’s initial scheduled maintenance or to a competitor? Did they order replacement parts from you or somewhere else? How many people made a service appointment on your website? How many of those people actually showed up? What sales opportunities exist among your service customers?

3.    Showroom & Service Traffic: Next quantify, how many people physically came into your store or entered your service lane? The majority of people don’t have time to browse around multiple dealerships or visit your service center just for a quote. If they came to you, it’s for a reason. So make sure your staff is in the business of closing deals and ROs.

4.    Leads, Phone Calls, & Chats: When potential customers complete an action on your website, whether it’s submitting a lead form or picking up the phone to call you, that opens the door to potential sales. Metrics on your lead, call, and chat volumes are important to analyze, but it’s much more about quality than quantity. Instead of focusing your budget on more leads, calls and chats, focus on the actions that drive showroom visits.

5.    VDP Traffic: VDP views drive awareness, familiarity, and consideration. Although they can influence a customer to take further action, they do not directly result in sales.

MYTH #2: VDP traffic is the foundation for future sales. 

In what world does a VDP view hold more value than an actual human-to-human interaction? VDP views are not the foundation. Showroom traffic is. Correct me if I’m wrong, but last time I checked, getting people in the door and speaking to them face-to-face is the best way to get them in a vehicle so they can touch, see, feel, drive and experience it for themselves. Show rates are infinitely more impactful than any ad or page view could ever be. Our industry has become so brainwashed, people believe more time, energy, and money should be allocated to driving VDP views rather than using those resources to drive showroom traffic. It’s absolutely mind-boggling.

MYTH #3: Big data is very complex and requires experts to turn it into action.

Wrong. All too often, dealers allow outside vendors to come in and tell them what they should be measuring. Social marketers will tell you social metrics are most important. Paid search companies will tell you clicks and website traffic are the secret to more sales. Our industry is stuck in this maze of listening to incessant digital noise. But every dealership is different, and there is no one size fits all solution.  

My friends, it’s time to remove yourself from the maze and turn the volume of the noise ALLLL the way down so that you can actually hear the music. 

You and your staff are the ONLY people that should dictate what you need to measure. Take the data you already have and zero in on the metrics that involve sales, service ROs, and repeat customers. Data is simply a catalyst for determining and reaching your goals. Sales data shows you where you stand against competitors, but more importantly, how you stand against yourself historically. Sales data will tell you exactly where you are, and exactly where you need to go. 

Infographic: Reclaim Your Service Revenue

Incentivize Your Service Drive

3 Ways to Rev Up Revenue This Tax Season

By David Metter

April offers a month of renewed optimism for car dealers everywhere as spring comes into fruition and pockets become heavier with a little cash back from Uncle Sam. Tax refund season has arrived, and with it, infinite profit opportunities for both vehicle sales and your fixed operations. I fondly remember April 15th back in my car-selling days as the “real” beginning of the month. 

With that in mind, the following have the potential to be the three most lucrative areas to focus your strategy on during this season of budding opportunity:

1. Increase Show Rates. Okay, this is obvious - but here’s how. We all know the probability of closing a deal skyrockets when a customer is physically in front of you in your showroom. The challenge is getting them there. This is where lead scoring comes into play. If you had the ability to instantly score leads based on their level of buying intent wouldn’t that make the time you spend chasing leads drastically more efficient? Wouldn’t you then know which leads to focus your attention on first and foremost? I recommend implementing technology that has the ability to score all your site, mobile, and third party leads simultaneously and in real-time, so that you know where to focus your efforts.

One way to increase your odds of getting buyers in the showroom is to offer an incentive just for coming in for a test drive, or for a vehicle inspection if their car is a potentially desirable trade-in. The higher the lead score, the more you should offer in exchange to facilitate heavier foot traffic, both on your showroom floor and in your service drive.  

DealerRefresh just published an article advising dealers to have their sales staff “put the phone down!” Customers who call your store are not looking to be sold. In fact, they are already sold on which vehicle they want down to the year, make, model, and even and trim level. Therefore, all calls should be managed by your BDC, or your appointment setters as the one and only goal should be setting the appointment to get them in the door.

2. Reclaim Your Fixed Ops Revenue. The service and parts department of a dealership is easily the revenue engine with the most powerful horsepower. The potential for profit opportunities is greater than ever before in a market infested with disloyal service goers. According to DME Automotive, service center loyalty is remarkably low. “Fewer than 1 in 4 drivers are loyal to their service center type, leaving 88.2B up for grabs.” Yes, you read that right. Eighty-eight BILLION. That is how much money is at stake in the market for service and parts. So, who’s going to claim it?

Cars.com agrees and points out, “We in the industry know that dealerships provide fair, competitive prices on quality service, but service shoppers don’t because we aren’t telling them, and it’s squeezing dealership profitability.” National repair chains take business from dealerships either because their digital marketing is more effective, or they offer a smoother digital experience – or both. A better experience includes superior visibility and more transparent pricing models. “All things that are within a dealership’s power to control, improve upon and use to influence service customers,” says Cars.com.           

3. Deploy a Millennial Marketing Strategy. As you’ve probably heard, the Millennial market of vehicle buyers is rapidly accelerating – and it covers a wider age group than you may realize, spanning the ages of 18-34 years old. The differentiating factor in this generation is that the dealership experience is rated much more heavily than the actual price of a car. According to a recent DrivingSales study, “While finding the right vehicle at the right price is important to everyone, our study shows that most younger consumers want a positive customer experience at the dealership and are willing to pay a little more to ensure they get it.”

Edmunds.com also offers insight as to what the mobile experience in particular looks like for Millennials, reporting that 60% of Millennial visitors come through their mobile site. These shoppers are most active during evenings and weekends when they are out and about, implying they’re using their phones while on the dealer lot.

Tips for Appealing to Millennials:

·      Mobile Focused Ads

·      Fluidity of Setting Appointments

·      Up Front Pricing

Time and convenience are perhaps the greatest hurdles to overcome when competing for millennial attention, with price following closely in third place. People don’t have time to sit and wait. Often, they are willing to pay slightly more for a faster, easier experience. Wouldn’t you? Quite frankly, time is money.

There is no time to waste. Spring has sprung, and there are billions of dollars to be claimed!  

10 Outside the Box Ways to Use AutoHook

For Those Who Suffer from Stuck in the Box Syndrome

Offering incentives to your customers is one of the best ways for both parties involved in any business transaction to get something they want. According to Verve Wireless, 85% of consumers say they are willing to visit a local dealership to test-drive a new vehicle if they were to receive an incentive on their smartphone or tablet. Targeted, incentivized promotion offers have also been proven effective in increasing showroom traffic, inventory turnover, and most importantly, dealership revenue throughout multiple departments.

At AutoHook, we push outside of the box thinking. The following are ten ways to use AutoHook’s Suite of Solutions to your benefit that you probably haven’t thought of yet – because unfortunately, you may be suffering from SBS (which of course stands for Stuck in the Box Syndrome).

1. INCENTIVIZE YOUR SERVICE DRIVE. Have a service appointment? Who wouldn’t want to get paid to take a spin in a vehicle that peaks their interest while they wait? There are several ways to utilize AutoHook’s incentive offers in the service department that dealers are just beginning to catch on to. For customers who already have an appointment scheduled, use our Bulk Coupon Generator to push appointments already on the books to test-drive one of your cars instead of sitting around waiting for their vehicle to be serviced.

Dealers can maximize the benefits of offering gift card incentives in the service department by pulling a list of vehicles within a specified mileage range, or a list of vehicles that meet certain criteria to increase your probability of conversion. If you didn’t plan ahead, you can use Issue Coupon Code or Instant Reward to customers sitting in the waiting area that may not have received a pre-generated offer to test-drive a new vehicle.

In addition, dealers can use incentives for customers who schedule service appointments directly on their website, especially for those customers who abandon the online service scheduler process. You can also offer the Issue Coupon Code to encourage customers to schedule their service appointment online, or add a test drive link to your confirmation page and email.

2. AMPLIFY YOUR SERVICE CAMPAIGNS. Another idea is to utilize AutoHook’s solutions to give your service campaigns a needed boost. Dealers can offer incentives to recent buyers who need to come in for their first service appointment. According to Automotive Digest, “The first ser­vice appoint­ment is step one in the reten­tion process that leads to future vehi­cle purchases.” Advertise a generic gift card offer and use Issue Instant Reward or Issue Coupon Code.

If you utilize Urban Science’s SSO (Service Smarts), or MMO (Market Master) contact your AutoHook Customer Service Representative to see how you can execute on that valuable service data. 

3. GET MORE QUALITY TRADE-INS. Your equity mining software can help you target customers with an incentive to get them to trade in their desirable car and purchase or lease a new one from you.

4. BOOST NEW MODEL LAUNCHES. Piggyback on OEM launch campaigns and drive those intenders into your showroom with customized offers.

5. MOVE AGING INVENTORY. Depending on your brand, we know certain models move faster than others. Use AutoHook incentives on the particular details pages of the vehicles in your inventory that need “a little help.” Target and boost any model that may be underperforming.

A few years ago, AutoHook ran a campaign for an OEM that nearly doubled the amount of cars they typically sell within a certain model. Why did that happen? Because we more than doubled the amount of customers that physically walked into the dealership. Don’t underestimate the power of getting someone past the lead form and into your showroom so that your sales team can do their job and get them excited about making that purchase.

6. GET MORE REFERRALS. Use Issue Instant Reward to customers who refer your store to their friends and family. Issue Coupon Code can be leveraged to lock in referrals over the phone in those states that allow referral payments. Check with your state Dealer Association for more information.

Actual Dealer Example:

Central Kia of Lewisville runs a strong referral program and uses our Issue Instant Reward as their fulfillment and measurement tool. We noticed a trend in multiple $25 gift cards being issued to the same people and the dealership had a very high ratio of issued rewards to their other products. After speaking with their Internet Sales Director, AutoHook built a set of special Issue Reward placements that range in value from $25 to $200 and marked each as a Referral Gift.

Central Kia loves having the ability to have the fulfillment process completely handled for them. They can also track the specific placements to see who refers the most people to buy and how much they need to offer to incent the best referrals. Additionally, this will make your accounts payable department very happy, in that they only have to write one single check for all of the output in a given month.  

7. COMMUNITY OUTREACH. The LaFontaine Automotive Group used Issue Instant Reward for a local grassroots program they sponsored. Dealers have the opportunity to get creative with this, especially during the holidays or just to give back to those less fortunate in their community through different programs throughout the year.

8. IMPROVE SOCIAL & DIGITAL ADVERTISING CONVERSIONS. Dealers can use triggered links on custom landing pages and send incentives for generic social advertising. Social also allows for many retargeting opportunities to reactivate and re-engage lost clicks. This tactic will add substantial conversion to your social and digital advertising campaigns. With AutoHook, you can provide your customer with the industry-best attribution; from ad click, to form fill, to showroom visit, to sale.

9. SAY “THANK YOU” FOR A GOOD REVIEW. Issue an Instant Gift Card as the perfect way to say thank you for writing a positive review on behalf of your dealership. You can also use AutoHook as an enticement for customers to leave reviews, testimonials, or feedback of their experience buying or servicing their vehicle at your location. 

On the flip side, you can use the Issue Instant Reward feature to any customer who complained or had a poor experience at your dealership. Not that that would ever happen at your store…but know it’s available for you to have in your back pocket, should that problem ever arise.

10. TIME OF PURCHASE PUSH. Utilize Issue Instant Reward for advertised offer with purchase. Some AutoHook clients have this turned on at the OEM level to boost last minute sales. Dealers have leveraged our incentive platform to help achieve various stair-step programs launched by their manufacturer. Customers will love the added bonus of leaving your store with a new ride and a gift card as a token of your appreciation for their business.

So there you have it. Incentives provide infinite opportunities around the various departments of your dealership and the ROI proof is in our attribution reporting.

Don’t be a victim. If you suffer from SBS please contact your healthcare provider or AutoHook Customer Service Representative before it’s too late.