Study results will be used to help auto dealers better understand which marketing investments actually lead to vehicle sales.
Columbus, OH (March 23, 2017) – Clarivoy, the auto industry’s leading provider of Multi-Touch Attribution, today announced the launch of an industry-wide study to better understand the current state and usage of attribution in the retail automotive industry.
“While Multi-Touch Attribution has been a big ‘buzzword’ lately, we think there is still a long way for us to go in educating dealers on its importance. The results of this study will help us gauge dealers’ baseline understanding of attribution, and their use of it, so that we as an industry can better help dealers understand and appreciate the dynamic and ever-changing customer journey that is not always accurately measured. Our end goal is that the results will help more dealers gain the knowledge to answer the question they have been asking themselves forever. ‘Is my investment helping me sell more vehicles?’” said Clarivoy CEO Steve White.
Auto dealers who wish to participate in the study can visit www.clarivoy.com/survey. Participants who complete the survey can register to receive an advanced copy of the study results and the chance to win one of several $100 Amazon Gift Cards.
There are several different types of attribution, all of which have their own logic. When it comes to digital, up until now most dealers have relied on first or last-click attribution provided by Google Analytics which only measures engagements – not sales. However, as consumers are now influenced by multiple offline and online touch points, this type of attribution cannot provide the full picture of what – and how much – influence each marketing partner had in bringing a customer into the dealership and producing an actual sale.
Rather than rely on first or last-click attribution to determine what’s effective, dealers can get a better picture of how their offline and online marketing works together to bring buyers to their doorstep by using Multi-Touch-Attribution.
With Multi-Touch-Attribution it is possible to more accurately track and measure the multiple (and growing) influencing factors that contribute to an auto buyer’s journey from start to finish — even connect the dots between offline and online touch points. It enables a true picture of how marketing dollars actually influence customers.
According to Steve White, in today’s digital culture, consumers are influenced by multiple sources. “They read reviews of vehicle models and dealerships, search prices and bounce around from site to site like never before. As a result, the average number of dealerships visited before purchasing a vehicle is dwindling. It is more important than ever before that dealers know how effective their marketing dollars are at bringing those prospects from the anonymous browser into their showroom. This study will provide valuable information about the state of attribution we can share with the industry” White stated.