EP 8:3 How To Properly Perform A Digital Marketing ROI Assessment & Vendor Partner Analysis

In this episode of the Millionaire Car Salesman Podcast, host Sean V. Bradley delves into the intricacies of Digital Marketing and Vendor Partnerships within the Automotive Industry. Sean emphasizes the importance of understanding the breakdown of website expenses, including components like SEO and SEM, to make informed decisions. He advocates for a shift in focus from VDPs and SRPs to actionable opportunities and leads.

Tune in to gain insights on the necessity of regularly auditing vendors to ensure they deliver value for your investment. Sean explores common vendor-related issues, such as data feed problems and content quality, and offers practical solutions. Additionally, he introduces a scorecard and referral program to empower dealers to assess their vendors and enhance their lead-generation strategies. Don't miss this episode for expert advice on optimizing your dealership's digital marketing efforts and vendor relationships.

 

Key Takeaways:

• Dealers should break down their website expenses and understand the impact of each component, such as SEO and SEM.

• The focus should be on generating actionable opportunities and leads rather than VDPs and SRPs.

• Dealers should assess their vendor partners regularly and ensure they are providing value for the money spent.

• If a dealer is receiving a high percentage of bad leads, it may indicate issues with tracking, internal processes, or the vendor.

• The success of third-party providers depends on having a CRM set up with the right processes, action plans, templates, and accountability.

 

"If you get 500 leads a month and 100 or 200 leads are bad, something's either wrong with your tracking or internal. You're burning through ups, or you have the wrong vendor." - Sean V. Bradley

 

About Sean V. Bradley

Sean V. Bradley, CSP is an entrepreneur, published author, speaker and award-winning international trainer. He is a 14-time NADA/ATD convention speaker, FranklinCovey Certified Facilitator and has earned the coveted “CSP” designation in the National Speakers Association. Sean is also a member of the elite “Million Dollar Speakers Group” in the NSA and a state association speaker and trainer. He has spoken at over 400 NCM and NADA 20 Groups. Sean started Dealer Synergy over 20 years ago, but has been in the automotive industry for almost 22 years. Sean and his Dealer Synergy team are a 14-time Dealers’ Choice Award Winner for being the “Best of the Best Internet Sales Trainer” and “Mobile Provider Partner” in the Automotive Sales Industry. 

Sean has personally trained over 100,000 Automotive Sales Professionals in 3,500 unique rooftops. However, he literally influences hundreds of thousands of professionals, in and out of the Automotive Sales industry, all over the world, through: his over 4,000 published articles, his best-selling book “Win the Game of Googleopoly”, over 7,000 videos published online, and through Radio Station soundwaves by Hosting the globally recognized Against All Odds Radio Show currently airing in Atlanta, Cleveland, Rochester, and Los Angeles, and the 'internet buzzing' Millionaire Car Salesman Podcast reaching over 1 million Americans! Additionally, Sean is the creator of the Millionaire Car Salesman Facebook Group, with a membership count of 25,900+ automotive professionals.

 

 

How to Maximize ROI in Automotive Digital Marketing: Insights from Industry Experts

As the automotive industry continues to evolve, dealerships are faced with the challenge of effectively allocating their marketing budgets to generate the highest return on investment (ROI). In an era where digital marketing plays a crucial role in driving sales, it is essential for dealerships to conduct a thorough assessment of their digital marketing strategies and vendor partnerships. In this thought leadership article, we will delve into the insights shared by industry experts during a recent Dealer Synergy Academy class, where they discussed the importance of conducting a digital marketing ROI assessment and vendor partner analysis. We will explore the key themes that emerged from the discussion and analyze their implications for dealerships.

 

Introduction: The Disparity in Dealership Spending and Results

In the fast-paced and competitive world of automotive sales, success is not easily achieved. However, there are individuals who have managed to rise above the rest and achieve remarkable results. One such individual is Ray McLaughlin II, a top performer at Koons Ford of Baltimore, a multi-billion dollar dealer group. In this thought leadership article, we will delve into the insights and strategies shared by Ray during a podcast interview with Sean V. Bradley, the president of Dealer Synergy and creator of the Millionaire Car Salesman podcast. By examining Ray's experiences and perspectives, we can gain valuable knowledge on how to excel in the automotive sales industry.

 

The Importance of Breaking Down Website Costs

One of the key issues identified during the discussion was the lack of transparency in website costs. Many dealerships are unaware of the breakdown of expenses for their websites, including core packages, SEO, SEM, social media ads, and other tools or widgets. Sean V. Bradley emphasized the importance of breaking down these costs to determine the true ROI of a dealership's website. By understanding the individual costs of each component, dealerships can assess the effectiveness of their digital marketing strategies and make informed decisions about their marketing budgets.

Joel, one of the participants in the class, shared his experience with website costs. He estimated spending less than $800 per month on his website, including SEO and other tools. However, Sean V. Bradley pointed out that it is essential to break down these costs to determine the true ROI. Without a clear understanding of the individual costs and their impact on lead generation, dealerships cannot accurately assess the effectiveness of their website and make data-driven decisions.

 

The Pitfalls of OEM-Compliant Websites

Pay-per-click (PPC) advertising and social media marketing were also discussed during the class as essential components of digital marketing strategies. Joel shared his experience with PPC advertising, mentioning a budget of $1,500 per month for Google AdWords and an additional fee for ad management. However, Sean V. Bradley emphasized the importance of breaking down these costs to determine the true ROI of PPC advertising. By understanding the individual costs and their impact on lead generation, dealerships can make informed decisions about their marketing budgets.

The discussion also touched upon the role of social media marketing in driving traffic to dealership websites. Joel mentioned minimal spending on Facebook and Instagram ads, highlighting the need for a management fee to optimize these campaigns. Sean V. Bradley emphasized the importance of breaking down these costs and assessing the effectiveness of social media marketing strategies. By understanding the impact of social media ads on lead generation, dealerships can allocate their marketing budgets more effectively.

 

The Role of Pay-Per-Click Advertising and Social Media Marketing

In today's digital age, social media has become a powerful tool for automotive sales professionals. Ray recognizes the significance of social media in reaching a wider audience and building a personal brand. He actively uses platforms like Instagram and Facebook to showcase his expertise, share customer testimonials, and promote special offers. By leveraging social media, Ray is able to stay connected with his customers and attract new prospects.

Ray also expresses his interest in exploring TikTok as a platform to expand his online presence. He acknowledges the potential of TikTok in reaching a younger demographic and creating engaging content that resonates with potential customers. By embracing social media and staying active on various platforms, Ray is able to establish himself as a trusted authority in the automotive industry and attract a steady stream of leads.

According to Ray, "I plan on texting you, I plan on emailing you. I plan on harassing you, man." This statement reflects Ray's enthusiasm for utilizing digital platforms to connect with industry experts and continue his learning and growth in the field of automotive sales.

 

The Value of Third-Party Lead Providers

During the class, Sean V. Bradley highlighted the value of third-party lead providers, such as AutoWeb and CarsDirect. He emphasized the importance of considering these providers as part of a comprehensive digital marketing strategy. While some dealerships may be hesitant to rely solely on third-party leads, Sean V. Bradley emphasized the need to evaluate the cost per lead and the potential ROI. He shared examples of dealerships that had successfully generated leads at a fraction of the cost compared to other marketing channels.

Zach, one of the participants in the class, expressed his frustration with the lack of success in generating leads from his dealership's website. He mentioned conducting a comprehensive SEO assessment and finding significant issues with the website's optimization. Sean V. Bradley acknowledged the challenges faced by dealerships and emphasized the importance of investing in oneself. He encouraged Zach to focus on building his personal brand through social media platforms and leveraging his own marketing strategies to generate leads.

 

Conclusion: Maximizing ROI in Automotive Digital Marketing

In the highly competitive world of automotive sales, success requires a combination of leadership, consistency, organization, online presence, and word-of-mouth marketing. Ray McLaughlin II, a top performer at Koons Ford of Baltimore, exemplifies these qualities and has achieved remarkable results in his career. By following his insights and strategies, automotive sales professionals can enhance their performance, build strong customer relationships, and drive business growth. The key takeaways from Ray's experiences include the importance of strong leadership and company culture, the power of consistency and organization, the value of social media and online presence, and the significance of referrals and word-of-mouth marketing. By implementing these strategies, automotive sales professionals can elevate their success and thrive in a competitive industry.

 

 

Resources

Dealer Synergy & Bradley On Demand: The automotive industry’s #1 training, tracking, testing, and certification platform and consulting & accountability firm.

The Millionaire Car Salesman Podcast: is the #1 resource for automotive sales professionals, managers, and owners.  Also, join The Millionaire Car Salesman Facebook Group today!

The Against All Odds Radio Show: Hosting guests that have started from the bottom and rose to the top.  Also, join The Against All Odds Radio Show Guests & Listeners Facebook Group for the podcasted episodes.

For more interactivity, join The Millionaire Car Salesman Club on Clubhouse.

Win the Game of Googleopoly: Unlocking the secret strategy of search engines.

 

The Millionaire Car Salesman Podcast is Proudly Sponsored By: 

Dealer Synergy: The #1 Automotive Sales Training, Consulting, and Accountability Firm in the Automotive Industry! We have been building Internet Departments and BDCs for over two decades! It is this experience that has allowed us to develop the absolute best automotive Internet Sales, BDC, and CRM solutions for car dealerships. We have created the most effective training programs and processes. Phone scripts and rebuttals are our specialties, while CRM action plans, strategies, and templates are our expertise! Dealer Synergy will take both your tools and your people to the next level.

Bradley On Demand: Automotive Sales Industry’s #1 Interactive Training, Tracking, Testing and Certification Platform. With over 7,500 training modules, our platform has everything you and your dealership need to sell more cars, more often and more profitably!

Money Mind Mapp (M3): Visit MoneyMindMapp.com for help in revolutionizing your business to help you sell more cars by tracking, projecting, and forecasting your personal sales goals!