How trim and options data factor in CarGurus rankings
Andrew Grochal here, Head of Dealer Products for CarGurus. I wanted to provide some additional information to answer some questions that have come up from dealers on how we use trim and option data in our ranking and rating algorithms.
First, I want to be very clear that we understand how critical it is for vehicles to have accurate trim and option info. From our point of view, it’s a win for both consumers and dealers for us to get this right, and we’re constantly improving our ability to get this right while giving you the tools to identify and quickly fix any issues.
2018 in review: the evolution of CarGurus SEM Plus
After launching our SEM Plus product early in 2018, our engineering and product teams worked throughout the year to improve the product and drive better results for our CarGurus SEM customers. Here are some highlights of what we’ve added.
Bing search
We added a second ad partner to the mix for search budget in Q4. Now you can run search campaigns on Bing and Google. While the volume isn’t huge, Bing tends to perform quite well in automotive since its demographics skew toward older, higher-income searchers.
Updates to the Removed Listing Activity tab make attribution easier
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. It 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.
The top 2018 US used car searches on CarGurus, by state
Ever wonder which cars sit at the top of shoppers’ wish lists? Millions of car buyers visit CarGurus every month in search of their next vehicle, so we decided to dig into our data to find out. We looked at which makes and models were the most searched on CarGurus in each US state, and, after analyzing all of the car searches on our site in 2018, we found that when it comes to sought-after vehicles, Ford and Chevrolet lead the way.
CarGurus test drive reviews give dealers another way to reach car shoppers
CarGurus helps millions of shoppers find a good deal on the best car every day. How? You probably already know that consumers come to our site to compare models, read dealership reviews, and find a good price on the car they’re looking for. You might not know that they also come to CarGurus to get independent reviews of the cars they’re interested in. Our collection of video test drive reviews help shoppers discover which car is best for them by giving insight into the performance, comfort, technology, safety, and overall quality of some of the most popular makes and models.
From top-rated SUVs to new sedans and trucks, CarGurus test drive reviews are a great resource for shoppers narrowing their search—and resources that all dealers can share with their potential customers. Below are five of our most recent test drive reviews. Share them on your social channels or post them on your blog to give shoppers the final push they need to visit your lot.
Why your dealership should start marketing its service department—and 4 strategies for doing it
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.
Car shoppers not ready for EVs, CarGurus survey finds
With established automakers like Mercedes-Benz and newcomers like Byton announcing electric vehicles (EVs) at this year’s Los Angeles Auto Show, CarGurus conducted a survey to learn more about consumers’ thoughts and experiences with EVs.
Interestingly, we found that while 64% of shoppers are excited about the prospect of saving money on fuel with an EV, 65% are concerned about how expensive they are. This interest suggests a “wait and see approach,” with 15% of respondents noting they would probably or definitely own an EV in the next 5 years, and 34% noting the same over the next 10.
Use CarGurus resources to connect with customers after their car purchase and stay top of mind
People have become information-obsessed, even over the small stuff. And car buyers are no exception. They’re spending more time than ever—over 13 hours in many cases—researching their purchase options before ever making a decision.
But what happens to those car buyers after they’ve done their research and made their purchase at your dealership? Their need for information doesn’t end. As car owners, they need to know how to maintain their vehicles, where to go for service, what insurance to get, and more.
Key website metrics to track to ensure online success for your dealership
A website is an essential tool for generating leads, building your subscriber list, and raising brand awareness. But are you sure you’re looking at the right metrics to determine how well you’re doing?
Google Analytics can provide loads of data on all kinds of metrics, but some provide more value than others. Of all the dozens of different KPIs (Key Performance Indicators) you can look at, it’s best to narrow it down to at least five metrics which give you the most insight into how effective your dealership’s website is at converting visitors into paying customers.
While things like social media likes and total page views are nice to know, seeing high numbers there might not do much more than stroke your ego a little bit. Here are the five most important website performance metrics for car dealerships that will actually help you grow your audience.
CarGurus helps dealers gain insight into shopper activity with key industry partnerships
With so many different touchpoints along a car buyer’s path to purchase—more than 24, according to Google—it can be difficult for dealers to make sense of which are most influential throughout a consumer’s buying journey. Attribution is one of the biggest challenges dealers face today—and it’s something that we at CarGurus are continually looking to provide a solution to for our dealers. And, today we’re turning a corner.
CarGurus is thrilled to announce that we have teamed up with vAuto, Clarivoy, and Vistadash, three game-changing analytics platforms, to help dealers learn more about their inventory performance. Through these partnerships, we will be able to provide more data than ever to our dealers, increasing transparency and giving dealers a more holistic view of their online listing performance including VDP views, map clicks, and more.