CG x Virtual Dealer Insights Summit is back with new insights and tips for dealers
We’re excited to share that we’ll be hosting our second annual CG x Virtual Dealer Insights Summit on July 17 from 11am to 2:30pm ET. The 3.5-hour dealer education summit is designed specifically for busy car dealers looking to learn how digital can help boost their bottom line.
Understanding the what and why of retargeting
You visit a website to check out a pair of shoes you’ve been eyeing. You leave without buying them. You visit ESPN to check a score, then sign into Facebook to look at your newsfeed, and so on. Suddenly, you notice there are ads for the very shoes you were looking at following you around the web.
Maybe you ignore the ads at first, but after seeing the shoe ad for the tenth time, you decide to go back to the website and buy them.
That’s retargeting at work—and we’ve probably all had this experience in today’s digital age.
Consumers still don’t know how to protect their data in connected cars
For many drivers, getting in the car follows a routine: use a key fob to unlock the car door, get into the driver’s seat, connect a smartphone to the car’s infotainment system, and then drive off. Yet, when tested on their knowledge of connected vehicle security, consumers were wrong on half the answers, scoring a failing average of 49%.
A car dealer’s guide to digital marketing best practices
Unless you’re really lucky, keeping car sales rolling in isn’t as easy as turning the lights on at your dealership and crossing your fingers. Instead, you need a digital marketing strategy that attracts shoppers and ultimately turns them into buyers.
From optimizing your website to personalizing email campaigns and creating helpful videos, there’s a lot you can do to give your dealership a competitive edge. But there’s no one-size-fits-all approach, and that’s where these marketing best practices come in:
Industry Pulse: it’s more than just tax cuts impacting the used vehicle market
At CarGurus, we’re always looking for ways to share more industry insights with our valued dealers. Today, our Director of Automotive Industry and Economic Analysis, George Augustaitis, takes a look at how tax cuts and dwindling inventory are affecting the used car market.
The IRS started to release information on tax returns in the first week of February. As the data from the IRS changed over time, the media released weekly headlines, whipping back and forth between negative and positive:
“Here’s why the average tax refund check is down 16% from last year”
“After a slow start, tax refunds are ticking up…”
“Tax refunds are up from last year…”
“About 8 million individuals who received a refund last year may owe this time”
To date, the IRS has reported filings through the week ending May 10, 2019, and at first glance, the average refund is down 1.7%.
While the key metrics—total number of refunds, amount of money issued, and average refund—show a negative story, refunds alone aren’t the factor driving change in used car sales in the US.
Announcing Navigate 2019: CarGurus’ first-ever automotive conference
UPDATE: Tickets now available!
It’s official: Navigate 2019 is coming to Boston! In October, hundreds of car dealers, partners, and industry experts will converge at the Hynes Convention Center for two days of inspiring discussions, educational sessions, entertaining networking, and more.
Designed specifically for car dealers determined to sell more cars, we’ll share everything from actionable marketing tactics to high-level strategies from industry executives. Navigate will give you all the information you need to accelerate growth at your dealership.
Understanding programmatic keyword generation and bidding for paid search
The number of keyword combinations you should be using in your paid search strategy can add up quickly. For example, there are over 50,000 potential keywords you can bid on if your dealership wants to market and inventory of 20 make/model combinations from 10 model years in 10 different colors with 5 different trim levels across 5 local metro areas.
At this scale, you can’t choose keywords one by one. Luckily, today’s algorithmic paid search tools solve these problems through a combination of smart decision-making and extensive data.
Meet the winners: CarGurus announces third annual Best Used Car Awards
CarGurus yesterday announced the winners of its third annual Best Used Car Awards. The awards recognize the best recent-year used models across 16 body style categories and our analysis of factors including long-term projected value retention, driver satisfaction, expert reviews, and both model popularity and availability.
If your dealership sells any of these vehicles, share the award on social media and use it as an additional selling point for each of the winning vehicles. Here’s the full list of this year’s winners:
Paid search 101: 5 key components of paid search campaigns
The auto industry has seen substantial growth of digital ad spend in the last few years, and the growth isn’t predicted to slow down. The auto industry as a whole grew online ad spend by 77% since 2016 and is projected to reach almost $22B by 2022. And of the industry’s digital spend, 43% is in paid search—a total of $5.8B.*
The combination of spend per dealer and the large number of dealerships means that only the retail industry spends more on search ads than automotive. The reason for this spend is simple: digital ads drive more sales and cost less. According to DealerSocket, the average profit margin for sold vehicles that were advertised on digital channels exceeds that of sales driven by conventional media by over $800.
It’s clear that paid search is becoming more important than ever, so let’s take a quick look at five key components of a successful paid search campaign.
CarGurus teams up with Capital One Auto Finance to deliver even more ready-to-buy shoppers to dealers
At CarGurus, we understand that financing is critical for dealerships so we’re thrilled to announce our partnership with Capital One Auto Finance, which brings even more ready-to-buy and financially-prepared shoppers to eligible dealers.
Through our partnership with Capital One Auto Finance, consumers will be able to get pre-qualified for financing on cars from dealerships that already offer Capital One financing. This experience creates a more transparent and efficient process for buying a car while allowing dealers to maintain financing flexibility in their dealership. Dealers will benefit by getting better-prepared customers who have more data about financing options and are ultimately closer to their decision on buying a vehicle.