LotLinx' Digital Marketing Tool Eliminates Wasted Dealer Ad Spending
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 has the power to help dealers ensure each dollar is being spent on the individual vehicle that needs it the most.
Here’s how it works:
Dealers provide LotLinx access to Google Analytics and vAuto SRP and vehicle description VDP activity.
Lotlinx compiles a customized, interactive data set with detailed insights into their VIN view sources.
Dealers are able to see on their own personalized dashboard their exact VIN view distribution from various sources of traffic including direct, organic, SEM, AutoTrader, Cars.com and LotLinx, and take corrective action.
Based on these insights, dealers can adjust their marketing to drive shopper traffic to their entire inventory, eliminating waste in 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.”
“We’re excited to give dealers the ability to fine-tune their advertising spend down to the individual vehicle level,” said founder of LotLinx, Len Short. “With the ability to promote inventory that otherwise may be neglected, dealers can optimize their marketing strategy and maximize turn rates and margins.”