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The Next Generation Innovation Panel Amir Amirrezvani: Executive Vice President & Founder, DealerOn David Gilmartin: Director of New Car Strategy, Cars.com.

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Presentation on theme: "The Next Generation Innovation Panel Amir Amirrezvani: Executive Vice President & Founder, DealerOn David Gilmartin: Director of New Car Strategy, Cars.com."— Presentation transcript:

1 The Next Generation Innovation Panel Amir Amirrezvani: Executive Vice President & Founder, DealerOn David Gilmartin: Director of New Car Strategy, Cars.com Brad Korner: Vice President Sales & Client Services Automotive Retail & Media Solutions Group, Polk Amit Maheshwari: Vice President and General Manager - Digital Retailing, Data and Strategy, DealerTrack David Metter: President, Automotive, HookLogic Tom Mohr : President & CEO, Digital Air Strike Moderated By: Jason Ezell: President and Co-Founder, Dataium

2 Amir Amirrezvani Executive Vice President and Founder DealerOn

3 A TYPICAL CUSTOMER WEB EXPERIENCE CUSTOMERS WITH UNIQUE BROWSING GOALS CUSTOMERS ALL PRESENTED WITH THE SAME OFFERS

4 DATA IS GATHERED TO DETERMINE BROWSING EXPERIENCE THAT BEST MATCHES USER GOALS REAL-TIME ADAPTIVE DATA-DRIVEN EXPERIENCE CUSTOMERS WITH UNIQUE BROWSING GOALS CUSTOMERS ALL PRESENTED WITH UNIQUE OFFERS BASED ON DATA GATHERED

5 Dave Gilmartin Director, New Car Strategy Cars.com

6 Technological Capabilities and Trends Nearly 40% of total new car searches on Cars.com come from mobile. 1 43% of smartphone shoppers use their device on the dealer lot. 2 Cars.com shoppers who read dealership reviews are 7x more likely to contact a dealer. 1 Consumers want to read up to 10 reviews prior to choosing a local business. 3 80% of online new car shoppers do not plan to send a lead. 5 41% of consumers say a social media post caused them to add a dealership to their consideration set. 4 Sources: 1 Cars.com Internal Site Metrics, 2 Cars.com: Mobile Web and App Usage for Automotive Shoppers (Source: Nielsen, 2012), 3 BrightLocal Annual Consumer Review Study 4 Dealer.com/DriverSide/Gfk: THE RISE OF LOYALTY, ADVOCACY & INFLUENCE, 2011, 5 Source: Cars.com/Synovate Online New Car Shopper Study, 2010

7 Consumer expectations and technological capabilities evolving the buying process  Maureen, 42 Young and Social Shopper Tech savvy: Frequently accesses the internet and uses mobile Regularly connects with friends on social networks Gets an idea of vehicle prices, then explores features/options in depth Seeks the right car with the right features at a fair price Diligent Shopper Does all research online before visiting a dealership Believes 3 rd party sites provide unbiased pricing information Values opinions of consumers and experts online Considers new and used Source: 2011 Cars.com/Synovate segmentation research ZAK, 33 “ I want to make the best decision…but you’d think someone would have figured out how to make it easy for me.” “I’m intimidated by the car shopping process, so I want to get all my facts together before I visit the lot.”

8 Consumer NeedsTakeaways Control-Be valuable – people don’t want to be sold to, they want to buy. -Be transparent -Lower “connection barriers” -Expect fewer but more qualified leads Less negotiation-Pricing transparency -Process transparency Confidence in you-Develop/differentiate your brand -Communicate your value everywhere consumers shop -Deliver on it – online and at your dealership Respect-Their time -Their preferences -Their privacy Delivering for Today’s Consumer

9 Brad Korner VP Sales & Client Services Automotive Retail & Media Solutions Group Polk

10 Classic Dilemma: Hitting the Right Right Time Purchase Decision Color…trim…location/dealership…finance options Building a Consideration Set Vehicle segment/brand/model…new/used/CPO Brand Messages Awareness…owner reinforcement…service marketing Multiple “ZMOTs” drive multiple campaign objectives and needs

11 Making Offline Work Online Insights on Consumer Ownership & Purchase Behavior (“likelihood of… owning X…buying in next X months”) Internet Users (anonymous) Desktop/laptop & phoneMobile DevicesHousehold Cable TV (on-demand response) Proven Targeting Tools & Predictors “Link” Points Ads Served to:

12 Innovation Put Into Practice Intell. via Aggregate Auto Data Intell. via Modeled Auto Data Mobile Ad Networks Data Aggregators DSPs / Ad Networks Portals / Tier 1-3 Agencies Mobile Ad Networks Video Ad Networks Hyper Local Targeting 30+% click- through improve- ment > 1 Bill. Impressions per month “I don’t have a link with them yet”“I do have a link with them”

13 Amit Maheshwari VP and GM, Digital Retailing, Data and Strategy DealerTrack Inc.

14 A good Digital Retailing strategy can deliver better ROI on your dealer’s Digital Marketing spend via higher conversion rates. It can also differentiate you as a someone who delivers the next generation buying experience that today’s consumers want. Digital Retailing can be deployed before the consumer comes to your website. Datium reports that 70% of your shoppers visited a 3 rd party portal site during the shopping process. Digital Marketing Brings a consumer to your inventory Digital Retailing Converts that consumer from a shopper to a buyer Digital Retailing: converting shoppers to buyers online...

15 Beyond the “lead” model. True online-in-store integration.. Research My Vehicle (Config, Compare, Up- sell, Print, Save) Find My Vehicle (SmartFind TM ) Dealer Stock, Area Stock, Pipeline Pricing and Payment (PaymentDriver TM ) Incentives, Payment Illustration (Rates and Programs), Print Quote Value My Trade (TradeDriver TM ) Dealer on-demand appraisal, detailed condition reporting Finance my Purchase (FinanceDriver TM ) Credit App, Pre- qualification, Approval Protect my Investment/Personalize (MenuDriver TM ) F&I Add Ons, Accessories, eDeal Forms, Funds Transfer, Titling, Trade Pickup and Vehicle Delivery Dealer Sites OEM Sites Portal Sites In store process © 2012 DealerTrack, Inc.

16 Evolving from Internet Pricing to the Four Square on your Website… © 2012 DealerTrack, Inc.

17 David Metter President, Automotive HookLogic

18 Next Generation Capabilities o Lead2Show o Open API approach for the good of the dealer o Online Data Matching to Online Buying Intent o Offline Data Matching to Online Buying Intent o Personalized targeting with Facebook and other social hubs o Apple Passbook Integration o Product Ads o Select SKUs to Highlight, assign image or text assets o UI allows for creation & customization of ad units o System outputs tag to be plugged into any ad server o Delivery engine shows the “right ads” - maximizing media buy & advertiser ROAS o Trade Evaluation and Acquisition o Target the right trade during the online evaluation o “Wish List” integration with inventory management tools

19 Tom Mohr President and CEO Digital Air Strike

20 Key Technology Trends Message Delivery System Eyes and Ears at the Edge Mission Critical Enterprise Solutions SmartQuote SmartFollow Review Surge Review Responses Dealer Alerts Hyper-Retargeting Facebook targeted ad program Content publishing RapidTouch CrowdSourcing Review Site Monitoring Quote cookie = hyper-retargeting SmartFollow interactivity Transform dealer’s social presence and reputation status Optimize dealer engagement with his customer from initial lead response through the sale

21 Key Technology Trends Sentiment analysis Behavioral targeting Personalized transactions Unstructured language interactions Predictive analytics Multi-channel communications

22 How they might be applied TrendExample Sentiment analysisOEMs see online vehicle preference trends and adjust manufacturing schedules accordingly Behavioral targetingDealer marketing platforms detect if consumers have changed vehicle preference; update / mobile / online ad marketing Personalized transactionsZip-based pricing Unstructured language interactionsAutomated chat Predictive analyticsLead scoring Multi-channel communicationsPlatform publishes customized dealer communications to all dealer-relevant sites on the grid

23 Practical Next Gen Capabilities Lead Generation o Crowdsourcing o Multi-channel social publishing o Data-driven online advertising– super-tight targeting Prospect Management o Initial quote response: algorithms drive relevant alternatives o Automated quotes linked to outsourced BDC’s for intelligent first follow-up call o Lead scoring drives prioritization in CRM o Unstructured language technologies power real-time consumer engagement (automated chat; exchanges) o Hyper-retargeting– Facebook, other o Sentient follow-up messaging Analytics o Social sentiment analysis to update lead status o Powerful graphical representations


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