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Turning Cars into Stars Through Online Merchandising
John Griffin Vice President Performance Management AutoTrader Group, Software Division
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The Case for Classified Advertising
Mission: Deploy resources and expertise to attract customers. Most are online Don’t automatically show up Responsibility to attract them
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The Case for Classified Advertising
Used car shoppers look for the car first
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The Case for Classified Advertising
Used car shoppers look for the car first and the “deal” second.
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SRPs Search Result Pages VDPs Vehicle Display Pages VDP Conversions
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Need for “pixel” proficiency
Manage what you “can’t see” Monitor SRPs and VDPs Chart for the wkbk.
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What are SRPs? Search Results Pages
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What are VDPs? Vehicle Detail Pages
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VDPs are controlled by SRPs
We absolutely need to understand these new metrics SRP = Drive By Traffic = VDP “UP” VDPs are controlled by SRPs
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Can we answer the most basic questions?
How many VDPs should we have? Are we on track MTD? What is our conversion ratio?
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Conversion Benchmarks
2.5%* from SRP to VDP 3.5%* from SRP to VDP *These are estimates. Subject to market and site conditions.
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VDP is the Money Metric VDPs Sales 10,000 = 100
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Dealers Control Their VDP Destiny
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Cars are like children.
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Each one is unique.
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Listening to Your Cars SRPs VDPs Conversion 240 560 90 8 10 60 3% 1.8%
Toyota Land Cruiser BMW Jeep Commander SRPs VDPs Conversion 240 560 90 8 10 60 3% 1.8% 55%
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Tactics for turning your dealership into a VDP Factory
1 Generate more SRPs There are 3 factors 2 Convert more SRPs to VDPs There are 4 factors
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Drive more SRPs Placement Price Inventory
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Convert more SRPs to VDPs
Good thumbnail Photo bait Compelling Notes Right Price
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4D Sport Utility Color: White
Your cars are talking, are you listening? Vehicle Inventory Page Make/ Model Days in Inventory Body Price / % to Market Market Day’s Supply AutoTrader Cars SRP VDP % Conv. 2008 Toyota Land Cruiser Odometer: 32,985 15 4D Sport Utility Color: White $55,293 97% 56 240 8 3% 295 10 3.5% 2002 BMW 540 Odometer: 103,722 4D Sedan Color: Gray $11,500 98% 82 560 10 1.8% 635 13 2.0% 2009 Jeep Commander 24,936 $18,900 99% 41 90 50 55% 75 38 50.7%
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Profitability Actually make it work
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Monitor SRPs and VDPs SRPs BY MONTH VALUE MTD PROJECTION SRPs 305,283
OCT NOV DEC JAN FEB SRPs BY MONTH 500,000 400,000 300,000 200,000 100,000 VALUE MTD PROJECTION SRPs 305,283 556,693 VDPs (#) 12,881 23,489 VDP (%) 4.2% -
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of vehicles with unacceptable time to internet?
of vehicles with no online price? of vehicles with incorrect prices? of vehicles that are not being published to all designated sites? of vehicles without compelling descriptions? of vehicles without quality photos?
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Compact Intermediate Luxury Luxury High Luxury Sport Sport Subcompact Large Classic Small Full Size 0% 6% 24% 18% 12% CAR SUV TRUCK VAN Your Dealership Your Live Market
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Thank You John Griffin Vice President, Performance Management AutoTrader Group Software Division
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