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Autobytel ACQUIRES AutoUSA - Automotive Internet Sales - 3rd Party Lead Source Provider
- Transaction Significantly Expands Autobytel's Dealer Network;
Expected to Deliver Meaningful Increases in Revenue and Cash Flow -
IRVINE, Calif.--(BUSINESS WIRE)-- Autobytel Inc. (Nasdaq: ABTL), pioneer of the automotive Internet and the company dedicated to connecting automotive consumers with dealers and manufacturers, today announced it has acquired Ft. Lauderdale-based AutoUSA, a longstanding, premier Web-based auto leads and services provider, from AutoNation, Inc. (NYSE: AN).
The purchase price included $10.0 million in cash, a $1.0 million, 6% convertible note payable in one lump sum in five years and convertible to Autobytel common stock at a conversion price reflecting a 20% premium over the price of Autobytel's common stock on the date of closing, and warrants giving AutoNation the right to purchase approximately $1.0 million of Autobytel's common stock at an exercise price reflecting a 5% premium over the price of the stock on the date of closing. The transaction was financed by Union Bank, N.A. through a newly established $9.0 million senior secured term loan, and by drawing on Autobytel's existing secured working capital revolver. Both the term loan and the revolver carry interest at a rate of LIBOR plus 2.5%. The term loan is amortized over a period of four years. AutoUSA generated 2013 revenues of approximately $30.0 million, with positive operating income and cash flow. The company believes that the transaction will be accretive to Autobytel's 2014 results.
Autobytel said the acquisition expands its reach and influence in the industry by increasing its national new and used car dealer network to more than 5,200 from approximately 3,800, while boosting its business with auto manufacturers. It also enables the company to offer its new mobile and SaleMove products to a larger customer base, while continuing to build on relationships with OEMs and large dealer groups, including the AutoNation family of dealers.
Autobytel, which was founded in 1995 by former Southern California car dealer Pete Ellis, has again grown to become one of the most influential automotive services organizations, providing high quality leads and innovative marketing and mobile services to dealers and OEMs. The company serves a critical role in the industry in helping car buyers find the right vehicle while delivering highly relevant consumer purchasing information to its industry partners.
Phil DuPree, President of AutoUSA, has joined Autobytel as Executive Vice President, President of Dealer Services. As an inducement for joining the company, DuPree was granted an option to acquire 40,000 shares of Autobytel common stock at an exercise price equal to the closing price of Autobytel's common stock on the acquisition closing date. The option will initially vest based on certain financial performance criteria related to Autobytel's dealer services group and then on DuPree's time of service with Autobytel.
"AutoUSA brings a new, high quality client base to the Autobytel family and strengthens our existing relationship with AutoNation, which is the largest U.S. automotive retailer," said Jeff Coats, Autobytel's president and CEO. "The transaction solidifies our leadership role in the industry, enabling us to offer an even larger base of dealers and automakers top quality products, including leads that convert to sales at nearly three times an estimated industry average, and a wide range of mobile products designed to sell more cars.
"AutoUSA represents an outstanding fit with Autobytel. In addition to its core leads business, AutoUSA's suite of complementary third-party, Web-based services includes payment-based pre-qualification tools, incentive programs and other products and services designed to help dealer customers and manufacturers increase their sales," Coats added.
"Since 2000, AutoUSA has developed very strong relationships with dealers across the country. The combination of Autobytel and AutoUSA adds strength to both organizations and represents an opportunity for consolidation in an industry segment that remains fragmented," said Mike Maroone, president and chief operating officer of AutoNation, Inc. "This combination benefits automotive consumers, dealers and manufacturers, alike."
As previously announced, in addition to AutoUSA, Autobytel also recently acquired Advanced Mobile, LLC, now known as Autobytel Mobile, which provides a full lineup of auto industry mobile products and services such as mobile apps, mobile websites, Send2Phone capabilities and text message marketing, and TextShield, a web-based portal that allows dealers to centrally manage text communications. Also as previously announced, the company recently made a strategic investment in SaleMove, which enables auto dealers and manufacturers to enhance the online shopping experience by interacting with consumers in real-time. These new services will be available to Autobytel's expanded network of automotive dealers and manufacturers.
About Autobytel Inc.
Autobytel Inc. provides high quality consumer leads and associated marketing services to automotive dealers and manufacturers throughout the United States and offers consumers robust and original online automotive content to help them make informed car-buying decisions. The company pioneered the automotive internet in 1995 with its flagship website www.autobytel.com and has since helped tens of millions of automotive consumers research vehicles; connected thousands of dealers nationwide with motivated car buyers; and helped every major automaker market its brand online.
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Make Money Mondays with Sean V. Bradley - 'How Do You Know How Much Money You Need to Make?'
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Automotive Sales Manager Trains With Sean V. Bradley - Objections / Rebuttals / Word Tracks
Sean V. Bradley had the opportunity to train objections, rebuttals (Word Tracks) with a very advanced Sales Manager from a Chevy Dealership in Indiana.
Watch this video and re watch this video and learn from Geno how to master the CLOSE!
Have you climbed on board the video marketing train yet? If you own a small business or are in business for yourself, there’s a lot of compelling evidence suggesting that online video marketing should be a major focus of your advertising and marketing budget. Here’s just one big number that should make you sit up and take notice:
1.8 Million Words
That’s the value of one minute of video, according to Dr. James McQuivey of Forrester Research.
Do you have the time and energy to write 1.8 million words? That’s the equivalent of 3,600 typical web pages. If you write an average of one web page an hour, it would take you 150 days of writing to achieve the impact of one minute of video.
When you look at it that way, online video marketing is the single most practical use for your marketing time and energy. Not convinced yet? Here are 15 more big video marketing numbers that should make you sit up and take notice.
What’s The Market for Online Video?
45.4%
According to comScore, which measures online engagement and use, that’s the percentage of Internet users who view at least one video online over the course of a month. The average user is exposed to an average of 32.2 videos in a month, increasing the chances that your marketing message will be seen. But what does that work out to in real numbers?
100 Million
That’s the number of Internet users who watch online video each day. Granted, a lot of those are watching the latest viral video with a goofy cat or a cute kid, but an awful lot of them are looking for advice on how to do something or how to make something work better. And a whole of them are looking to buy a service or product.
90%
The percentage of online shoppers at a major retailer’s website who said they find video helpful in making shopping and buying decisions. Retailers who provide online video to show off their products report that the products with video sell a lot more than products with no video.
75%
That’s the percent of executives who told Forbes that they watch work-related videos on business websites at least once a week. The results breakdown:
- 50% watch business-related videos on YouTube
- 65% visit the marketer’s website after viewing a video
16 minutes and 49 seconds
According to comScore, that’s how much time the average user spends watching online video ads every month.
Takeaway: If you're not using video marketing, you're missing out on a huge market opportunity. It’s not just the number of people who are watching videos that’s important – it’s the reasons why they watch it. When you post an online marketing video to a business website, you’ve got a great chance of engaging with a busy executive who is specifically looking for your services but might not have reached out to schedule a meeting for a presentation. Your marketing video is a great way to get your elevator pitch out into the ether and let it reel in leads.
What’s the Payoff for Online Marketing Video?
8 Big Video Marketing Results Numbers
80%
According to the Online Publishers Association, that’s the percentage of Internet users who recall watching a video ad on a website they visited in the past 30 days. It gets even better. Of that 80%, 46% took some action after viewing the ad. In fact:
- 26% looked for more information about the subject of the video
- 22% visited the website named in the ad
- 15% visited the company represented in the video ad
- 12% purchased the specific product featured in the ad
64%
That’s how much more likely website visitors are to buy a product on an online retail site after watching a video. In addition, visitors who view videos stay on the site an average of 2 minutes longer than those who don’t view videos, comScore says.
Online Video Marketing Is Not Just for Retailers
403%
An Australian real estate group reports that real estate listings with videos receive 403% more inquiries than those without videos. In other words, real estate ads with videos generate quadruple the leads of those without videos.
59%
According to Forbes Insight, that’s the percentage of senior executives who’d rather watch a video than read text. About 65% of those who view a video click through to visit the vendor website, 50% look for more information and 45% report that they contacted a vendor after seeing an online video ad. About 50% of those who viewed an online marketing video went on to make a purchase for their business.
And It’s Not Just Online
96%
In 2010, an Implix email marketing survey found that including a video in an introductory email increased the click-through rate by 96%. That’s nearly twice as many people clicking through to your website when you include a video in your marketing emails.
200%
The Forrester Marketing group surveyed businesses in 2010 and found that video did even better. When marketers included a marketing or explainer video in an email, the click-through rate increased by 200% to 300%.
75%
Do your email subscribers drop like flies? Eloqua, an automated email marketing provider, noted that including video in an introductory email reduced the number of subscriber opt-outs by 75%. Maintaining that contact is a vital part of establishing a relationship with prospects.
51%
One online marketer reported a 51% increase in subscriber-to-lead conversion rates when video was included in an email marketing campaign.
Takeaway: Video marketing increases sales and leads. If you're not using video marketing, you're losing customers to those who do. Businesses that incorporate video marketing into their overall marketing strategy see higher engagement rates, higher click-through rates and higher conversion rate. Why would you leave all that value sitting on the table?
How to Make Video Marketing More Effective
4 Big Numbers About User Engagement with Video Content
10 seconds
That’s how long you have to grab the attention of viewers in a video marketing clip. According to research by Visible Measures, 20% of your viewers will click away from a video in 10 seconds or fewer.
And it doesn’t get a lot better than that. You’ll lose about 1/3 of your viewers by 30 seconds, 45% of them by 1 minute and almost 60% by 2 minutes. And those numbers remain the same no matter how long the video is.
5 minutes
There’s good news, though. While desktop viewers tend to stick with videos for 2 minutes or less, mobile users seem to have a longer attention span. iPhone users tend to watch for about 2.4 minutes. Android users give a video three minutes to engage them and Symbian users stick around for just over 4 minutes. iPad users have the longest attention spans of all, sticking with a web video for an average of 5 minutes.
16%
That’s the percentage of YouTube videos that are embedded, linked or shared on Tuesdays between 11 a.m. and 1 p.m., according to Sysomos.
15 seconds
According to research conducted by Jun Group (2011), videos that are 15 seconds or shorter are shared 37 percent more often than those that last between 30 seconds and 1 minute. If you make your video longer, that stat goes down. Those shorties are only shared 18% more often than videos of longer than 1 minute.
Takeaway: Effective video marketing has to be engaging right from the start, but how do you know where your video is going off the rails? That’s where video analytics comes in. Detailed video analytics will tell you who’s watching your video, how long they stay engaged and exactly where they click away. Armed with that information, you can sharpen your message and target it more precisely. If you haven’t started your own video marketing campaign, isn’t it time you jumped in with both feet? There’s nothing to lose and about 403% more profit just waiting for you.
Source: http://www.videobrewery.com/blog/18-video-marketing-statistics
Google's Matt Cutts Keynote at PubCon 2013
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Sean V. Bradley's 2014 "Video Vision Board" (I am going to break $100 Million Dollars!) - The Secret - Mind Map
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Sean V. Bradley Is Speaking & Dealer Synergy Is Exhibiting (At Booth #4401) at the 2014 NADA Convention in New Orleans
Lets connect at #NADA2014 in #NewOrleans I will be a #Convention #Speaker and Dealer Synergy will be exhibiting at booth #4401
We will have SPECIAL Guests at our booth like James A. Ziegler Debbie Ziegler Peter Martin Danny Alkassmi as well as some Dealer Synergy Team Members like Joe Cala Chary Rodriguez & of course our President, Karen Uriarte-Bradley
We look forward to seeing you in New Orleans!!
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Make Money Mondays with Sean V. Bradley - 'Verbal Kung Fu' - Automotive Sales - Car Sales
Sean V. Bradley discusses "Verbal Kung Fu" at your dealership and the importance of "sparring" with someone else in order to sharpen up your skills. You must be proficient in:
* Process
* Qualifying
* Objections / Rebuttals
* Words Tracks
* Communication
* Tone / Inflection
* Confidence
* Cadence
* Content
* Flow
* Style
*** You can NOT master communication / phone sales / Internet sales / showroom sales by reading an article or a book or watching a video. You have to PRACTICE and MASTER it through hard work and dedication!
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Your Internet Sales / Phone Sales Script is NOT Enough! The Script is ONLY 1/3 Of Your Success, You ALSO Need…
Your Phone Script is NOT Enough! The Script is ONLY 1/3 Of Your Success...
The 3 Parts to Phone / Internet Sales Process Mastery is:
1. Knowing The Script INSIDE And OUT...
2. Knowing the TOP 7 reasons why people are going online and at least 5 STRONG rebuttals for EACH, for a TOTAL of 35 Word Tracks...
3. Know your dealership's value package proposition. "Why Buy From Us". Not only do you need to know what is different and better about YOUR organization, you NEED to be able to passionately convey that to your prospect. You need to SELL Your Organization.
**** The Goal is to identify, meet and exceed your prospect's expectations.
The Script Identifies their wants wished and expectations...
The Words Tracks allow you to MEET their expectations...
And the Value Package Proposition Allows you to EXCEED their expectations...
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STOP Believing The B.S. About Your Internet Sales Department Or BDC NOT Being Able To Make A Minimum Of 120 Calls Per Day Per Rep!
Most dealerships on a daily basis hear excuses from their Internet Sales Department, BDC or their Sales Team in regards to how many phone calls they can ACTUALLY make in a day. I have said it for almost 15 years that an Internet Sales Coordinator, BDC Rep AKA an appointment setter can and should make a MINIMUM of 120 calls per day. BOTTOM LINE, PERIOD but YET, there are dealers that ALLOW their employees to be COMPLACENT in MEDIOCRITY. That is right… they ALLOW Mediocrity. Please watch these videos over and over again. PLEASE go to the search bar on this site and search "Power Hour". This is NOT the first time I have done this and VIDEO RECORDED THE RESULTS. It happens ALL THE TIME!!
All I have to do is put up a $100 Bill… tape it to the wall and BOOM!!!! I SHATTER THE Mediocrity. I shatter the myth that they can't make all of those calls… I SHATTER their FEAR THAT THEY CAN'T do it. BOOM!
PLEASE DO NOT ALLOW Mediocrity in your stores or in your life.
If you would like to discuss this video or how I can help you obliterate Mediocrity in your Internet Sales Department, BDC or Showroom. Please feel free to call me or email me-
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Mid-Week Motivation with Joe Cala - 'What We Neglect, We Will Eventually Lose' - Automotive Sales
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Focus On "Point Of Interest" CONTENT For Your Prospects / Shoppers… Cultivate Opportunities
This is a video I shot on site at a Major KIA Dealership in Pennsylvania last week.
Point of Interest Versus Point of Sale… That means that Sales Consultants, Internet Departments / BDCs etc… NEED to focus on cultivating opportunities. You can NOT just wait for the "Up Bus" to come through your dealership.
Think about it… MOST people are surfing the Internet. They are researching, they are "Googling". People are gathering "Field Intelligence". So what content are YOU or your dealership creating to provide valuable "Field Intelligence" for your prospects? Most people unfortunately will say NONE…
For example, you can create:
"How To" Videos:
* How To Set Up Your Blue Tooth
* How To Set Up Your Satellite Radio
* How To Set Up Your OnStar
* How To Properly Install a Car Seat (Must be CERTIFIED to do this)
* How To Buy A Car…
* How To Buy A New Car…
* How To Buy Used Car…
* How To Find The BEST Used Car Dealership...
* How To Find The BEST New Car Dealership...
* How To Get A Car Loan EVEN if you have BAD Credit or NO Credit...
Information Videos…
* What is Better… Leasing OR Financing?
* What is Better… A New or Used Car?
* What is the difference between a Used Car or a Certified Pre Owned Car?
Reviews / Comparisons:
* (YOU) Review ALL of the Models you sell… Make these reviews, custom and personal
* Compare all of your models to ALL OF YOUR COMPETITORS… For example, if you were a Single Point Ford Dealership you should compare ALL of your models to all of their competitor models like the Ford F-150 AGAINST:
* Chevy Silverado
* GMC Sierra
* Ram 1500
* Toyota Tundra
* Nissan Titan
If you would like to have more information on this topic or if you would like to set up a FREE strategy session. Call me on my cell at 267-319-6776.
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Dealer Synergy Is HIRING! We Are Looking For Social Media Analysts. We Are GROWING & Need Social Media Specialists
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Make Money Mondays with Sean V. Bradley - Special Edition With General Sales Manager Charlie Kearns
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Mid-Week Motivation with Joe Cala - 'Stir Yourself Up' - Automotive Sales - Car Sales
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Karen Bradley, Sean V. Bradley & The Entire Dealer Synergy Team Want To Wish You A Very Happy Holiday!!
