With the average monthly car payment roughly $660, Rob Carrick of the Globe and Mail says consumers are spending too much money on cars. Carrick offered some financial rules for buying a car, and he dug into the data from CarGurus’ Price Trends tool to back his recommendations. Check out his advice here:
Congratulations to the dealerships that were recognized today in the 3rd annual CarGurus Top Rated Dealer Awards!
Based on reviews from car shoppers across the country, these annual awards celebrate a select group of car dealers for their exceptional service and commitment to customer satisfaction. The winning dealers have the highest ratings from shoppers on the CarGurus platform. In this 3rd year of the awards, we were happy to see a 41% increase in the number of qualifying dealers compared to last year.
As Canadian car consumers continue their infatuation with the internet, dealers are sharpening their digital marketing tools to meet the expectations of these demanding consumers.
Leading the charge are the millennials, and with good reason. By 2020, it’s estimated that 40% of new car buyers will be millennials. And 88% of current millennials already use the internet to research a new car purchase.
Automakers have already felt the impact of this cohort. Millennials are less interested in test drives, preferring to do their research on social media and dedicated websites before they even step into a dealership. At that point, they’ve pretty much made up their mind.
But it’s not just millennials. An Ipsos survey for Canadian Black Book found that car buyers make only an average of two dealership visits. That’s a steep decline when compared with the half a dozen visits buyers made barely a decade ago.
Competition is fierce in the auto industry, but dealers can set themselves apart with the right marketing strategy. Ashley Karr, CarGurus’ VP of Global B2B Marketing, outlines five digital marketing tactics dealers should put into action to drive more business this year. Check out page 22 for the full article:
2018 was a banner year for us here at CarGurus: we officially became the fastest growing auto shopping site in the country,1 our Gurus held and attended dealer events across the country, and we launched lots of new content to help you sell more cars!
We took a moment to reflect on everything we did in 2018, and here are some of the highlights.
At CarGurus, we’re working hard to give our dealers better tools to solve the challenge of attribution. We recently launched an update to our Dealer Dashboard that should make it easier for dealers to see which CarGurus leads bought a vehicle.
Lead details added to Removed Listing Activity section
The Removed Listing Activity section isn’t so much new as it is improved. This section lets dealers see their recently sold/removed listings, along with a breakdown of all the CarGurus leads and connections for those vehicles. What’s new is that we’ve added the details of those leads so it’s easier for dealers to tie a specific lead to the sale of a particular vehicle.
In the past several years, there’s been a surge in digital advertising spend in the automotive industry. And eMarketer forecasts that consistent, double-digit growth in digital ad spending will continue through 2021.
Yet all too often, dealerships treat the copy in their advertising as an afterthought. They toss in a few keywords, check the grammar, and hit publish. But copy is important—words matter!—and it should be treated that way.
We’ve put together some of the top tips for writing ad copy to help your dealership get the greatest ROI from online ads.
More than half of the average dealership’s revenue comes from its service department. Yet only about 30% of sales customers return to the dealership for service within the first year of ownership—and that number drops with each passing year. Why? Studies show that convenience and price are the main factors. Car owners believe that returning to the dealership for service is less convenient than visiting a local mechanic, and they assume non-dealership service options are better deals.
But as car owners continue to hang onto their vehicles longer than ever—and the opportunity to increase revenue grows—it’s become crucial for dealerships to expand their digital marketing efforts to include their service department. Dealerships that set themselves apart by marketing their services stay top of mind among existing customers and earn more new business.
Fixed ops marketing presents a valuable opportunity for dealerships, but to truly tap into the opportunity, you have to be strategic. Here we explore four things you can do to effectively market your dealership’s services and reach more potential customers.