The 1 Thing Every Dealer Needs To Do Before Spending A $1 Of Digital Advertising
Dealers, are you wasting money advertising vehicles from your inventory that are already getting online VIN view attention? If your answer to this question is, “I don’t know,” then now is a good time to rethink your digital advertising strategy. For automotive digital advertising campaigns, it’s important that dealers have a clear objective for every dollar spent. That objective should be to bring enough online views to every VIN on the lot to make it turn on time. How many views are enough? According to industry research, the threshold is 30.
In order to make sure ad dollars are spent most efficiently, we recommend that dealers do one thing upfront, before they spend a single dime: assess the total number of online views from every source that each VIN on the lot is getting, then shift dollars to invest in the VINs that need more attention (VIN-specific campaign management). We see this all the time: a dealer sees that their advertising efforts have resulted in a total of 10,000 VDP views for their 214-car inventory in a month. That’s a ton of VDP views…does that mean their digital advertising did a good job? Not necessarily. What if 80% of those views went to 25% of the cars on their lot, leaving the rest under 30 or even orphaned at 0?
Without knowing the exact number VIN Views each VIN on their lot received, a dealer cannot accurately assess the true ROI of their ad dollars on a CAR BY CAR basis. LotLinx has built a solution. LotLinx enables dealers to see their inventory’s VIN view distribution with our free VIN-View Optimizer™ tool. By using this tool, dealers can identify – in a single pane of glass – exactly which VINs need more online exposure, and then create customized campaigns for those VINs. Campaign recommendations can also be provided directly from the tool, so no opportunities go unnoticed.
To best understand how VVO™ works, watch this 10-minute explainer video by LotLinx CEO, Denise Chudy: