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Digital marketing expenditures by dealers continues to rise; do they get money's worth?

October 26, 2012
Every auto dealer is investing in digital marketing. Indeed, many have made it the central initiative for growing their sales. But no dealer can relax in the confidence of knowing his digital marketing programs are under control and will continue to pay back.
Why? Because the digital marketing industry simply isn’t “under control” — it continually changes in significant ways. What once worked well might stop, and important new marketing channels frequently appear and require a dealer’s consideration.
Compounding this problem is the digital marketing industry’s lagging capability to measure and report the results achieved from retailers’ investments. Most agency reports focus on metrics such as impressions, visits, clicks, likes and shares; they are not truly exposing the marketing channels that deliver results and those that don’t.
Bill Jenkins of Web Lever Consulting Services, a CATA allied member, examined the situation at a recent CATA seminar, “Digital Marketing: Prove the Payback.” Attendees learned how to tackle the problem of understanding the payback of digital marketing investments.
Jenkins walked through the creation of a special Dashboard using two steps in Google Analytics: 1) setting weighted goals, and 2) customizing the Multi-Channel Funnel views. The resulting Dashboard reveals the impact of each digital marketing channel tied to a business’s website.
Dealers who already have gained access to their Analytics data and regularly study it are ahead of the game. Those dealers who do not have access to their Analytics should contact their website vendors to get that process started.
With the Dashboard in place, a dealership can confidently take control of its digital marketing destiny, knowing that the impact of each channel can be understood and their investments adjusted accordingly.
Dealers with questions on the Dashboard setup can reach Jenkins at (630) 253-8502.