Transcript Boosting the Big 5 of Online Merchandising

Boosting the Big 5 of Online Merchandising
Russ Daniels
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Are you creating a before-the-lot connection?
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
The Big 5 of Online Merchandising
Photos
Descriptions
Videos
Image Overlays
Speed to Market
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Photos
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Do Photos Matter?
•
One third of all shopping online occurs while
your dealership is closed.
•
New car listings priced below MSRP with
multiple photos get 142% more views.
•
Used car listings with multiple custom photos
vs. a stock photo get 305% more views.
•
Listings with multiple photos vs. no photo get
372% more views. 1
1. Online Merchandising in a Multi-Device World, Autotrader 2015
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Best Practices & Feedback
•
How many photos?
•
New vs Used Best Practices.
•
Photo Capture is the 2nd most important
component of an inventory merchandising tool.
•
6th highest pain point for merchandising
vehicles online. 2
1. Online Merchandising in a Multi-Device World, Autotrader 2015.
2. HomeNet Merchandising Effectiveness Dealer Survey, 2015.
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Videos
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Does Video Matter?
•
47% of car shoppers first heard about a car/truck
by watching an online video.
•
65% of car shoppers are able to narrow down their
options after watching a video. 2
•
84% of car shoppers plan to watch a video the next
time they shop for a vehicle.1
1. Millward Brown Digital/Google Vehicle Shopper Path to Purchase Study, September
2013.
2. Online Merchandising in a Multi-Device World, Autotrader 2015.
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Best Practices
Videos
•
Keep the video short – 1 to 2 minutes.
•
Shoppers see the first 140 characters of
your video description during a Google
search.1
•
Live vs. Slideshow Videos
1. Online Merchandising in a Multi-Device World, Autotrader 2015.
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Can You Prove It, Russ?
What’s the most frequently accessed content on third party sites?1
70%
60%
50%
40%
30%
20%
10%
0%
Vehicle Pricing
Model Information
Vehicle Pricing
Model Information
Inventory specific research
Inventory specific research
Special Offers
Special Offers
1. J.D. Power Reports: New-Vehicle Buyers Who Spend the Most Time Shopping Online Also Visit the Most Dealerships , 2014.
2. Automotive Buyers Influence Study, Auto Remarketing 2014.
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Can You Prove It, Russ?
Gen Population vs. Millenials Shopping Online
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2011
2014
Gen Population
Millenials
1. J.D. Power Reports: New-Vehicle Buyers Who Spend the Most Time Shopping Online Also Visit the Most Dealerships , 2014.
2. Automotive Buyers Influence Study, Auto Remarketing 2014.
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Image Overlays
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Image Overlays
Mastering the Art of “Connection Points”
• “More Information” Connections Points perform when
advertising online.
•
27% said Connection Points on vehicle information
are their primary drivers.
•
Schedule Test Drive is 3rd highest at 10%.1
A New Opportunity?
• Overlay creation is the 7th biggest pain point for
dealers. 3
•
Out of 100 millions photos online, less than 10%
have Overlays with strong Connection Points. 2
• Differentiate your dealership.
• Attract attention from car shoppers at the
1. How To Convert Used Car Shoppers to Buyers, CarStory 2015
2. Inventory Online Retail Photo Data, HomeNet Automotive 2015
3. HomeNet Merchandising Effectiveness Dealer Survey, 2015
point of discovery.
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Image Overlays - Standard Example
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Image Overlays - Upgraded Example
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Descriptions
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Descriptions
• Build a connection.
• Be specific.
• Balance the message.
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Build a Connection
Identifying Shopper Personas is Critical
Customer Focus
• “All Wheel Drive gets you
everywhere in any weather”
Why Buy from Us?
• “Full range of services,
including parts and service”
• 23% of women listed leather seats as
important features, and 14% listed
cooled seats. 1
• 11% of men listed leather seats as
important features, and 5% listed
cooled seats. 1
• 65% of U.S. drivers weren’t aware
adaptive cruise control existed. 2
1 How To Convert Used Car Shoppers to Buyers, CarStory 2015
2 University of Iowa Public Policy Center’s Transportation and Vehicle Safety Survey,
2015
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Be Specific
Car shoppers want more from
Vehicle Descriptions
• 58% of car shoppers find vehicle
descriptions inadequate to make a
purchasing decision.
• 53% of used car listings do not include
vehicle descriptions.1
What do your
comments say about
your vehicle?
1
2
• 26% more car buyers are willing to travel
30+ miles to view vehicles with custom
comments. 2
How To Convert Used Car Shoppers to Buyers, CarStory 2015
Online Merchandising in a Multi-Device World, Autotrader 2015.
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Balance the Message
OEM and Notable Brands
•
Benefit from their advertising budget.
Awards and Accolades
•
“2014 Motor Trend Car of the Year”
•
“2013 IIHS Top Safety Pick”
Editorials
•
“According to Edmunds.com, this vehicle….”
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
What are we hearing?
Based on a dealer feedback:
•
35% of dealers are writing comments from scratch.
•
2nd most important area that needs to be innovated.
•
2nd biggest pain point for merchandising vehicles online.
HomeNet Merchandising Effectiveness Dealer Survey, 2015
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Speed to Market
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Speed to Market
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Speed to Market
Forget anything?
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Speed to Market
Do you have the answers?
•
How does your dealership measure time to
market?
•
How much time does it take to get photos,
price, description completed on a car?
•
How much time does it take to get photos,
price, description online?
What are we hearing?
•
Syndication is the most important part of a
merchandising tool.
•
3rd biggest pain point for merchandising
vehicles online.
1. HomeNet Merchandising Effectiveness Dealer Survey, 2015
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Speed to Market
Mobile Advertising
• 50% of Millennials used a smartphone during
the car buying process.1
• 60% of General Population use mobile devices
when researching a vehicle.2
Mobile Merchandising
• Ditch the desktop, use mobile.
 Data Collection & Photo/Video.
What are we hearing about Mobile?
• 89% of dealerships use mobile devices to conduct
business every day.
1. Automotive Buyers Influence Study, Auto Remarketing 2014
2. 2014 Automotive Social Media Trends Study released by
Digital Air Strike at JD Power Roundtable
3. HomeNet Merchandising Effectiveness Dealer Survey, 2015
• The biggest pain point and the biggest area of
innovation for merchandising tools.3
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
Make sure you have all of the supplies
The Journey to Successful Online Listings
is not a Sprint, it’s a Hike.
Russ Daniels | HomeNet Automotive | Product Marketing Manager | [email protected]
CONTACT INFO
Full Name: Russ Daniels
Company: HomeNet Automotive
Job Title: Product Marketing Manager
Email: [email protected]
Share an important takeaway you received from this session
using hashtag #DD19 for a chance to win an iPad