Seriously, if you want to make your life easier and enjoy seeing more customers from your online marketing, then make a note to the formula below:
T + C = Cash
It’s simple.T stands for traffic; or rather the amount of people coming to your website every day.
Notice, I didn’t say “hits” - I said, “People”. These are the people actually seeking out a car dealer they would like to do business with.
That is why our web site needs to give them what they want, communicate with them in a way that makes it EASY to choose you as their Dealer.
That is where the “C” comes in.
C stands for Conversion.
In one of my future posts, I’ll go more in depth as to
what is the most proven way to structure your website to get clients to enter their name and information, then actually call your office and become a customer.
After all that is what we want. Heck, you can be at the top of Google and spending money on marketing if you aren’t converting prospective visitors into clients, then your website is just sitting out there collecting "Hits".
On the flip side, let’s say you could double or even quadruple your visitors to your Website and put in a good solid Conversion sequence.
Imagine what that would look like.
Let’s say you are currently getting 500 visitors a month…and you are only getting 10 new customers from that. That is a 2% conversion ratio. This can be improved.
If each customer is worth $1750 , then you are adding $17,500 in CASH to your dealership. This is NOT including referrals!
Next, we start by improving your traffic and we get up your traffic to over 1500 visitors a month.
Immediately, you go from getting 10 new customers a month to now getting 30 new customers a month without making a change to your website.
Pretending that your average new customer value stays the same ($1,750). You just increased your dealerships revenue to $52,500 a month.
Now Multiply that number by 12 Months…and you just added a nice $525,000.
Not bad!
Now, if you go back to your dealership and work on your Closing Rate, Transaction Size, Referral Rate while continuing your online marketing…then this improvement in revenue ONLY gets better and better!
Let me know your thoughts…and any questions you may have!
Make it a great day at your dealership!
Sean Patrick
Dedicated To Increasing Your Profits!
sean.patrick@automarketingprofits.com
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