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Are You Missing The Big Picture?

We live in a world where we're tricked into thinking we know the bigger picture.  In reality, we don't!

Nan Mossey takes over for Paul in this week's Think Tank Tuesday to debunk a few common misconceptions about the marketing and advertising world.  From getting more PDP views to customer reviews, Nan will teach you how all of these busted myths can affect your business.

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EDITOR'S NOTE: Transcript of Presentation: How people search - Presentation Transcript 1.7 Myths about How, Where and Why people search for a car and what they do when they get there VINSolutions Dealer Advisory Board Meeting Las Vegas NV 10.12.10 Larry Bruce President / CEO MicrositesByU.com @pcmguy. 2.PPC #1 way you can conquest new business for your dealership 3.What’s holding you back? 4.7 Myths that have been heaped on us with little or no basis of actual behavior •People trust 3rd parties more than the dealer •Internet shoppers are price driven •The internet is better for used than new cars •Organic links are trusted more than sponsored •The long tail search phase •People will go online and just come into the dealership •You can’t compete with the budget of the OEM , AutoTrader or Cars.com 5.•Over 35 hours of video •109 users •436 searches 6.Myth 1: People trust 3rd parties more than the dealer 7.Myth 1: People trust 3rd parties more than the dealer Of the 26% that converted: 8.Myth 1: People trust 3rd parties more than the dealer Why did they convert there? This same scenario happened 86% of the time a user landed on a 3rd party site 9.Myth 1: People trust 3rd parties more than the dealer How did they get there? 10.Myth 1: People trust 3rd parties more than the dealer What would have happened if?… Number of Mustangs available What types are available How much they cost 11.Myth 1: People trust 3rd parties more than the dealer Version 2 payment 12.Myth 1: People trust 3rd parties more than the dealer Version 3 trade‐in 13.Myth 1: People trust 3rd parties more than the dealer Things you can do to your website / landing experiences to instill trust. Reviews used by 32% of the users tested •Put your eBay rating on your home page with a link to the ratings •Put your Google ratings on your home page with a link •Put your Yelp ratings on your home page with a link •Use some excepts from letters or surveys on your home page •Facebook Like button on your home page and in special pages and your blog. 14.Myth 2: The Internet is all about price It is actually about saving time and hassle – 1st Concern, do you have what I want? 28% of the time a visitor will search themselves right out of a car 15.Myth 2: The Internet is all about price It is actually about saving time and hassle – 1st Concern, do you have what I want? Volzauto before 16.Myth 2: The Internet is all about price It is actually about saving time and hassle – 1st Concern, do you have what I want? Volzauto After 17. 18.Myth 2: The Internet is all about price It is actually about saving time and hassle – 1st Concern, do you have what I want? 19.Myth 2: The Internet is all about price It is actually about saving time and hassle – 1st Concern, do you have what I want? •1 click access to the most popular selling vehicles •UserTesting.com to find trouble spots in you conversion funnel •Crossbrowsertesting.com to find the breaks in code This has doubled Volz Auto Groups Lead Conversion Rate 20.How Split Testing Works Split Testing Platform 21.How Split Testing Works www.google.com/websiteoptimizer Split Testing Platform 22.Myth 3: The Internet is more suited to used cars than new Search testing found New & Used to be evenly split 23.Myth 4: Organic links are clicked and trusted more than sponsored links For pure purchase intent sponsored links converted 300% higher than organic links 24.Myth 4: Organic links are clicked and trusted more than sponsored links CarMax landing pages showed up in 33% of the searches that were performed in this test all sponsored links 25.Myth 4: Organic links are clicked and trusted more than sponsored links For pure purchase intent sponsored links converted 300% higher than organic links 26.Myth 4: Organic links are clicked and trusted more than sponsored links Organic traffic is inconsistent. You have no idea what the users intent really is other than 70% of the time they were looking for your dealership to do something The term Random access website refers to your main site where the users intent isn’t clear and there is a lot of navigation for them to get lost in the page shuffle 27.Myth 4: Organic links are clicked and trusted more than sponsored links Organic traffic is inconsistent. You have no idea what the users intent really is other than 70% of the time they were looking for your dealership to do something 28.Myth 4: Organic links are clicked and trusted more than sponsored links You will get higher conversions and better results out of PPC than organic SEO efforts but to do so you have to optimize at all 4 dimensions of online marketing Test‐Driven Marketing: •Geo‐location •Keyword / placement Making •Ad position agile marketing strategic •Landing / Conversion growth engine. 29.Myth 4: Organic links are clicked and trusted more than sponsored links Test Driven Marketing Ad Group Ad Split testing for Ad Ad Ad CTR Ad Split testing for Landing Landing Landing Conversion 30.Myth 4: Organic links are clicked and trusted more than sponsored links Test Driven Marketing Ad Group Ad Split testing for Winning Ad CTR Ad Split testing for Winning Conversion Landing 31.Myth 4: Organic links are clicked and trusted more than sponsored links A culture of constant improvement Ad Group Ad Split testing for New Ad New Ad Control Ad CTR Ad Split testing for New New Control Conversion Landing Landing Landing 32.Myth 5: The long tail search phrase Yes in overall internet searches long tail search phrases 4+ words are 23% of the searches and do have higher intent. But in the car business this is not the case. 33.Myth 6: People are going to your site and looking at vehicles then showing up on your lot The internet is an “Influencing Medium”. If you believe that then I have other stuff I want to sell you 34.Myth 7: You can’t compete with the budget of the OEM, AutoTrader, Cars.com Yes at the local level you absolutely can and you absolutely should. Other contributing factors to the search •Location 54% •Product 80% •Avg number of searches 3.5 35.Myth 7: You can’t compete with the budget of the OEM, AutoTrader, Cars.com Yes at the local level you absolutely can and you absolutely should. Location 54% 36.Myth 7: You can’t compete with the budget of the OEM, AutoTrader, Cars.com OEM Involvement 37.Remarketing 23% Email Capture Rate / 37% Call Rate 38.Remarketing 39.Remarketing 40.Remarketing 41.Remarketing 12% Click Through Rate 17% Conversion Rate 42.Integrated Channels Honda CTR – 3% Conversion – 31% 43.Integrated Channels 44.Integrated Channels Budget ‐ $500 Honda Service for Schools www.supplies4kids.com ; Service Your Honda and Help a child with School Supplies! CTR – 7% Conversion – 23% 45.Integrated Channels Budget ‐ $200 CTR – 3% Conversion – 47% 46.Integrated Channels Important: Service your Honda help a child get school supplies http://bit.ly/4kids Haynes Honda donates $1 for each RETWEET Retweets – 1112 142 new followers Conversions – 115 last count 47.Integrated Channels 48.Summery •3rd parties DO NOT have a Brand or a trust advantage. They don’t really even have an SEO advantage •You’re going to get a lot farther if you give visitors what they want, when they want it the way they want it than trying to run a bunch more people to your website and convert the same lousy percentage. •Internet user don’t play favorites with new or used and they both convert just as easily. •Organic links do not have some magic hold over the customer and are very inconsistent when it comes to intent. •To make PPC really work you have to control all dimensions of the online marketing experience. •Split testing is really the only way to consistent double digit conversion rates and constant improvement. • if you’re one that believes the internet is an influencing medium then you may be joining some of our less fortunate car brethren that no longer have a store. •You absolutely can and should eliminate 95% of your dependence on 3rd parties between you and your visitor / customer. •Targeted PPC + Remarketing will pick you up to a 40%+ Conversion Ratio •Integrating Channels the right way increases conversions into the 30%+ range
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