CarGurus set a new daily record for lead traffic this week.
Moreover, the number of email leads sent through the CarGurus platform is up 40% from last January.
Not only does this suggest that email leads are far from dead, it points to higher engagement among CarGurus visitors. Our analytics data bears this out: CarGurus users are bouncing less often – the site’s bounce rate has dropped 8% vs. last January – and spending more time on the site . Four percent more time, to be exact.
What do these milestones mean?
First, they validate our strategy. From our humble beginnings as an online community and forum, we’ve evolved into an auto shopping site with more than 15 million monthly unique visitors.
Those visitors are drawn not only to the great deals they can find from our 12,000 dealers but our own price analysis – the “ratings” (Great Deal, Good Deal, Fair Deal, etc.) that we assign to every vehicle.
Second, the price analysis and dealer reviews we offer are part of a larger trend towards transparency in the internet industry. Companies like Zillow, Yelp, and Kayak paved the way, offering transparent shopping experiences to home buyers, local business patrons, and travelers, respectively.
Third is the role we play in the biggest trend in auto shopping: the shift to digital.
Shoppers are turning to the internet in droves. Today, agency Digital Air Strike reports, 75% of auto buyers say internet research is the most helpful way to connect with a dealership.
Savvy dealers have been moving into digital for some time. In 2014, NADA found, digital was the single biggest advertising channel for dealerships, with 26.3% of dealers’ total ad spend. That percentage is likely even higher today.
And our lead numbers show that the digital shift only appears to be accelerating – perhaps because more Millennials are entering the auto market. Have you seen the digital shopper in your own store? Probably – and you can expect to see more of them in the months and years to come.
To learn more about how CarGurus can help you connect with more shoppers, call (855) 336-1488 or click here.