Building on last week’s post about evaluating audiences, this week we’ll be discussing Digital Sin 2: Putting too much focus on traditional leads.
Legacy of leads
Leads have long been the core metric dealerships track to determine the return on investment of their digital marketing solutions. From cost per lead to cost per sale, metrics connected to both the amount and perceived quality of leads received each month often tie directly to advertising decisions.
Yet, most car shoppers today never actually generate an email lead.
Value of information
Sending a traditional email lead requires shoppers to give up their anonymity. In the past, this exchange was necessary because consumers didn’t have access to the important information needed to make their car buying decisions – dealerships did. Now, because access to information has leveled, there’s less for shoppers to gain from handing off personal information.
Though consumers have more information, they rarely have all the information they need. And when shoppers have questions, they expect answers – fast. Rather than send an email, which typically implies a formal, delayed response, modern car shoppers are seeking out communication channels that allow for immediate conversations, like chat and text, giving dealerships new opportunities to connect with potential customers.
Phone and email leads aren’t gone for good, but the way they’re used by car shoppers has changed dramatically. Learn how you can set your store up to capitalize on new communication methods, beyond leads, and align metrics accordingly in our new ebook, The 7 Digital Sins of Attribution.