Chicago, March 23, 2016
Twenty-five percent of a car dealer’s inventory gets nearly 80 percent of online VDP views, according to a study by leading automotive marketing technology provider LotLinx®. With the average dealer spending $130,000 a year on digital marketing (source: NADA), this imbalance leads to thousands in wasted ad spend, promoting cars that don’t need it, while most others are under-engaged or ignored. In response, LotLinx today launches its VIN View Optimizer (VVO) which enables any car dealer to track marketplace engagement at the vehicle level, revealing which cars are getting online customer attention and which aren’t, and ultimately how to redistribute ad spend accordingly.
This tool helps dealers ensure each marketing dollar is being spent on the individual vehicle that needs it the most. Here’s how it works:
- LotLinx compiles data on dealers’ VDP engagement from multiple sources including Google Analytics and vAuto SRP
- Data is analyzed to reveal exact VIN view distribution from each source of traffic including direct, organic, SEM, AutoTrader, Cars.com and LotLinx
- LotLinx provides a detailed, personalized dashboard with the results, advising adjustments that can be made to drive shopper traffic to their entire inventory
Dealers increase effectiveness of their digital ad spend while increasing turn rates and margins.
“We know that 95 percent of low-funnel shoppers are searching for cars online. For dealers, attracting those shoppers to the VDPs for in-stock inventory is key to selling that inventory faster,” said Denise Chudy, CEO of LotLinx. “If a dealer is failing to optimize their VIN views, they are missing out on a huge opportunity to connect motivated shoppers with available vehicles and maximize ad spend in the process.”
“One of the biggest challenges car dealers face is figuring out how to effectively move the orphaned vehicles on their lots,” said Brian Pasch, CEO of PCG Companies and digital marketing expert. “With the ability to promote inventory that otherwise goes unnoticed, dealers can optimize their marketing strategy and maximize turn rates and margins.”
LotLinx® is a digital marketing company that uses its proprietary LotLinx Deeplinking® technology to connect online auto shoppers who are nearing a purchase decision directly with dealer VDPs which increases consumer traffic to local lots and speeds inventory turn. Founded in 2012 and based in Chicago, LotLinx works with thousands of dealers around the country to reach over 63 million unique car shoppers per month across more than 500 digital properties. For more information, visit www.lotlinx.com.