Facebook is introducing a new collection feature ad format that should help dealers showcase their inventory.
The last addition to Facebook’s ad lineup came last year, with the launch of Canvas, a fast-loading, rich media ad. Also like the Canvas ad format, the collection feature is created specifically for mobile, and seems designed to win users over inside the Facebook app — before directing them to the dealer’s mobile friendly website.
On this week’s episode “What are UTM tags?” of the #dealermartech show, we have digital marketing director and speaker Matt Raymond talking about UTM tags and how to:
How to build your UTM URL
How to name the sections of your UTM URL.
Where to look in Google Analytics to see your data
A UTM What?
A UTM tag is an easy code that you can attach to a naked URL to track a source, medium, and campaign name in your automotive digital marketing. This enables GA (Google Analytics) to tell you where searchers came from as well as what campaign directed them to your dealership. An everyday use of UTM code is to create a vanity URL for each individual offline campaign, and then redirect that URL to whatever forwarding address you assign. This will give you the ability to track how a service coupon, weekly newspaper or radio ad, or any TV commercials without having to create custom landing pages for each campaign. By creating a separate UTM tag for each TV commercial and print ad, for example, you can get data on which generates more traffic, conversions, and metal moved. Additionally, It’s not only the source and the medium (coupon, radio, newspaper, etc.), but even individual campaign names like “Summer Nissan Sale.”
There are also some other values you can add to your code to monitor terms you are going after, or even specific content. Terms can include keywords like “Altima’s,” “Trade In Offer,” or any other paid terms you are targeting. For content, you may split test(monitor two different ads that include the same message but different text or CTAs) to see which performs better.
Once you know the values you wish to track, you go to Google’s URL Builder, enter your values into the parameters, click “generate URL,” and presto, you are all set. The wonderful thing about UTM tags is that you can change the code whenever you want to adjust for your latest content and campaigns!
UTM Builder Example
Source: Google URL Builder
More information and examples for each parameter
The following table gives a detailed explanation and example of each of the campaign parameters. To learn more, check out the links in the related resources section below.
||Used for keyword analysis. Use
||Used for paid search. Use
||Used for A/B testing and content-targeted ads. Use
Brand equity is the additional value your dealership receives from having a well known brand, or high level of brand awareness. It is the difference in price that a consumer pays when they purchase a recognized dealer’s brand’s inventory over a lesser known, ( and possibly even cheaper) dealer with the same models.
“Brand equity is a major indicator of company strength and performance, specifically in the public markets. Often times companies in the same industry or sector compete on brand equity. For example, an EquiTrend survey conducted on July 14, 2016, found that The Home Depot was the number one hardware company in terms of brand equity. Lowe’s Companies, Inc. came in second, with The Ace Hardware Corporation scoring below average.”
Brand equity is a competitive advantage that lower costs and produces results proven from higher sales and revenues.
Why is brand equity important in your dealership’s marketing?
Having it means that a dealership has separate itself from its market competitors. Whether it is excellent customer service, an excellent sales staff, or even a thriving service department, some aspect of the store has attracted enough respect and recognition from local car consumers to warrant them spending more.
Establishing brand equity will have tons of advantages for a any dealership. Stores with this competitive advantage might enjoy higher revenues as customers pay more , as well as having a larger market share and customer base. Finally, it is generally easier for dealerships with strong branding to expand into different profit centers, since the car consumer trust of that dealership will follow any new service or special a store creates.
It not only increases sales and revenues for a dealership, but it lowers costs also. Marketing expense costs for recognized dealership brands are lower since many car consumers already know about the Store.
Brand awareness is the level of public consumer consciousness of your dealership. It measures a potential customer’s ability to recognize your dealership’s brand image.
“Different types of brand awareness have been identified, namely brand recall and brand recognition. Key researchers argue that these different types of awareness operate in fundamentally different ways and that this has important implications for the purchase decision process and for marketing communications.”
Brand awareness is best spread through both inbound and outbound marketing efforts.
When competition in an industry is high such as automotive retail, your brand is your dealership’s greatest digital asset.
An Engaged Sales Staff Can Build Strong Brand Awareness.
Many dealers focus all their branding efforts on marketing activities such as print, direct mailers, and packaging, yet one of the most powerful brand assets your dealership has is your people. Regardless if you’re in luxury or Sub-prime, building a strong brand requires that all employees feel connected to the store and the desk. They’ll understand their role in turning brand aspirations into reality.
If you’re not inspiring your sales floor to be brand ambassadors, you’re missing out.
Benchmarking is the process of measuring dealerships performance against competitors and automotive industry standards.
“Dimensions typically measured are quality, time and cost. In the process of best practice benchmarking, management identifies the best firms in their industry”
Your in-house marketing or vendors should benchmark to analyze your dealership’s success, ROI, brand awareness, and units sold. This helps to get a better understanding of how the dealership is performing relative to their competition across town.
Why is benchmarking important for car dealers?
Benchmarks is a fundamental practice of Dealer Martech and provides incredibly valuable insights for General Managers, BDC directors, and Internet sales directors who know how their marketing campaigns stack up against their dealership competitors’, can use this in-depth competitive analysis to differentiate their offers and specials.
This process gives dealers the ability to capitalize on their store’s strengths and exploit their competitors’ weaknesses.