Popup forms are another way to learn
how engaged your audience is.
References
1-https://www.benchmarkemail.com/resources/manuals/automotive-dealerships/open-rates-by-industry
2-https://www.regalcreative.com/blog/marketing-metrics-quick-reference-guide
3-https://www.quintly.com/blog/2017/08/average-interaction-rate-facebook-industry-insights
Set up Google Analytics
Important Analytics Terminology
Important Analytics Terminology
Learn More
Have questions or want to know more?
Competitor(s)
You
YOU
COMPETITOR
With this metric, you can measure your competitors’ impact just as easily as you can measure your own.
How much of the total social conversation in your industry (or your area) is about your brand, compared to your competitors.
METRIC TIP
SHARE OF VOICE (SOV)
.35%
3
Automotive Industry
engagement rate
At 0.35%, the Automotive Industry has a better engagement rate than the average of 0.21% across all industries.
The number of user interactions (clicks, likes, comments, and shares) with your content divided by the total number of people who viewed your content.
METRIC TIP
ENGAGEMENT RATE
Reach alone does not tell you everything, but it becomes a powerful metric when compared to other engagement metrics.
The number of unique people who have seen your content—organic or paid.
METRIC TIP
REACH
On their own, impressions don’t give the full picture of how your social media marketing is performing.
The total number of times your content has been seen, whether it’s been clicked or not.
METRIC TIP
IMPRESSIONS
How much of the total social conversation in your industry (or your area) is about your brand, compared to your competitors.
SHARE OF VOICE (SOV)
The number of user interactions (clicks, likes, comments, and shares) with your content divided by the total number of people who viewed your content.
ENGAGEMENT RATE
The number of unique people who have seen your content—organic or paid.
REACH
The total number of times your content has been seen, whether it’s been clicked or not.
IMPRESSIONS
Third-Party Provider Metrics
Whether you promote your brand to a targeted audience via paid social media tactics like sponsored content and advertising, or you let your content travel across social networks organically, you must analyze your social media marketing to understand its impact. While terms can vary across different platforms like Facebook, Twitter, and LinkedIn, these are the most important:
SOCIAL MEDIA METRICS
SOCIAL MEDIA METRICS
THIRD-PARTY METRICS
WEBSITE METRICS
EMAIL METRICS
This metric tells you how much your dealership pays in order to acquire a paying customer, not just a lead.
Total marketing dollars spent with a given provider divided by number of customers acquired from that provider.
METRIC TIP
COST PER ACQUISITION (CPA)
Depending on the platform, this may be a set cost per lead, or it could be a subscription fee divided by the number of leads driven by that channel.
Total marketing dollars spent divided by number of leads received.
METRIC TIP
COST PER LEAD (CPL)
Each connection is a step towards a purchase and an opportunity to engage with the shopper—so they all deserve attention. Besides phone and email leads, you should measure text leads, VDP views, map views, and website clicks.
All the times a shopper engages with your brand and your cars as they’re shopping.
METRIC TIP
CONNECTIONS
Analyzing your close rate puts you another step closer to looking at your return on investment from third party providers. Measuring your close rate, cost per lead and cost per acquisition by provider gives you a holistic view of which third-party sites are contributing the most to your bottom line.
The number of sales that have resulted from a third-party lead provider divided by the total number of leads from the same lead provider.
METRIC TIP
CLOSE RATE
Measure how your lead volume is changing over time from each source.
An individual that has expressed interest in one of your vehicles by sharing contact information, such as an email address or phone number.
METRIC TIP
LEAD
Total marketing dollars spent with a given provider divided by number of customers acquired from that provider.
COST PER ACQUISITION (CPA)
Total marketing dollars spent divided by number of leads received.
COST PER LEAD (CPL)
The number of sales that have resulted from a third-party lead provider divided by the total number of leads from the same lead provider.
CLOSE RATE
All the times a shopper engages with your brand and your cars as they’re shopping.
CONNECTIONS
An individual that has expressed interest in one of your vehicles by sharing contact information, such as an email address or phone number.
LEAD
Website Metrics
Social Media Metrics
To gauge the effectiveness of your partnerships with third-party lead providers, analyzing these key metrics is crucial:
THIRD-PARTY PROVIDER METRICS
SOCIAL MEDIA METRICS
THIRD-PARTY METRICS
WEBSITE METRICS
EMAIL METRICS
A goal in Google Analytics measures completed activities or conversions. Examples of goals include lead form submissions, clicks on store directions, and more.
When set up correctly, goals track how well your website is meeting objectives that contribute to the success of your business.
METRIC TIP
GOALS
Google Analytics considers a visitor to have interacted with your site if they visit at least one other page. Typically, the lower the bounce rate, the better. A high bounce rate might indicate changes to your website are necessary. For example, if your homepage is the gateway to the rest of your site (i.e. VDPs, reviews, etc.) and a high percentage of people are viewing only your homepage, then you may need to develop more relevant content to engage visitors.
The number of people who come to your website and immediately leave without interacting further with your site, divided by the total number of visitors.
METRIC TIP
BOUNCE RATE
Used Cars
Contact Us
Homepage
This data is important because it allows you to see which pages are attracting visitors. Consider highlighting these pages in your advertising to further increase conversions.
The pages that users most often visit on your website.
METRIC TIP
TOP PAGES
Also referred to as pages per session, this metric is a leading indicator of consumer engagement with your site. Easy-to-navigate websites see an increase in the number of pages viewed.
Typically displayed as an average, the number of pages viewed on your website during each session.
METRIC TIP
PAGE VIEWS
Time on site can be a strong indicator of campaign performance and customer interest. The longer consumers spend on the site the more engaged they are with your content. This is an important engagement metric that should be looked at in conjunction with traffic volume.
The average amount of time in minutes and seconds visitors have spent on your website.
METRIC TIP
TIME ON SITE
2
Traffic can come from a variety of sources, including organic, referral, social, and direct. Organic traffic, traffic that comes to your website from free search results, makes up the majority of most organizations’ traffic, but traffic can also come from paid sources like ads. In general, your traffic numbers are a good indication of if your website is growing, stagnating, or declining.
The number of visitors to your website.
METRIC TIP
TRAFFIC VOLUME
When set up correctly, goals track how well your website is meeting objectives that contribute to the success of your business.
GOALS
The number of people who come to your website and immediately leave without interacting further with your site, divided by the total number of visitors.
BOUNCE RATE
The number of visitors to your website that complete a goal, such as lead form submissions or clicks on store directions, divided by the total number of visitors.
CONVERSION RATE
Typically displayed as an average, the number of pages viewed on your website during each session.
PAGE VIEWS
The average amount of time in minutes and seconds visitors have spent on your website.
TIME ON SITE
The pages that users most often visit on your website.
TOP PAGES
The number of visitors to your website.
TRAFFIC VOLUME
Email Metrics
Third-Party Provider Metrics
By tracking the following metrics, you will be able to better understand who your audience is, and, more importantly, how they use your website to find what they’re looking for:
WEBSITE METRICS
SOCIAL MEDIA METRICS
THIRD-PARTY METRICS
WEBSITE METRICS
EMAIL METRICS
1
1
30%
=
OPEN RATE
total # of emails sent
average open rate for the Automotive Industry
# of people who open/viewed your email
8.1%
=
CLICK THROUGH RATE (CTR)
total # of emails opened
# of people who clicked a link in your email
average click through rate for the Automotive Industry
=
UNSUBSCRIBE RATE
total # of people who received your email
# of people who opted out of receiving future emails from your dealership
After a consumer makes a purchase, remove them from email communication lists that are no longer relevant to their needs. This avoids spamming people, and keeps them in your database for upcoming service or future purchases.
=
BOUNCE RATE
total # of emails sent
# of emails that were not delivered successfully
Your bounce rate is directly related
to the quality of your subscriber list.
To figure out if your emails and campaigns are actually driving the results you want, pay attention to these four metrics:
EMAIL METRICS
Website Metrics
SOCIAL MEDIA METRICS
THIRD-PARTY METRICS
WEBSITE METRICS
EMAIL METRICS
For questions about tracking your metrics, or to learn how your dealership can increase connections and drive leads with CarGurus, call (855) 841-6332, or fill out the form below.
Helpful resources to get started.
With analytics, you can look at all these metrics together to calculate your return on investment (ROI) and see just how efficient your marketing spend really is. Analytics are easy to set up, and the benefits are many—data-based information to help you make educated decisions, cost efficiency, and a competitive advantage.
Here’s a look at the metrics that matter most.
From measuring your email campaigns and website data, to tracking the performance of third-party providers and social media marketing, you can collect data at every point of a car shopper’s journey.
Why are analytics important for your dealership?
What questions can analytics help answer?
Analytics help you derive insights from your data that will allow you to make smarter, real-time decisions and test new strategies to maximize the performance of your various marketing channels. By using analytics, your dealership can be more efficient and minimize wasted marketing spend. Without analytics, it’s impossible to compete in today’s digital world.
Analytics help you understand how your efforts to market and sell vehicles are impacting your dealership’s bottom line by answering questions like: is your dealership seeing a positive return on investment (ROI) from marketing campaigns? Are your customers converting? What tactics are working best to bring in new customers?
MONTH
Understanding the Metrics that Matter Most
Collecting data is easy. Understanding data—and how to use it—is not.
That’s where analytics come in.
Next: Add tracking pixel to your site
Learn more about setting up your analytics account.
1-800-CARGURUS
© 2018 CarGurus®, Inc., All Rights Reserved. Your email is safe with us.
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Dealer Resource Centre
Dealer Resource Centre
Coming Soon
© 2019 CarGurus, Inc., All Rights Reserved. Your email is safe with us.
1-800-CARGURUS
Learn more about setting up your analytics account.
Next: Add tracking pixel to your site
Collecting data is easy. Understanding
data—and how to use it—is not.
That’s where analytics come in.
Understanding the Metrics that Matter Most
MONTH
Analytics help you understand how your efforts to market and sell vehicles are impacting your dealership’s bottom line by answering questions like: is your dealership seeing a positive return on investment (ROI) from marketing campaigns? Are your customers converting? What tactics are working best to bring in new customers?
Analytics help you derive insights from your data that will allow you to make smarter, real-time decisions and test new strategies to maximize the performance of your various marketing channels. By using analytics, your dealership can be more efficient and minimize wasted marketing spend. Without analytics, it’s impossible to compete in today’s digital world.
What questions can analytics help answer?
Why are analytics important for your dealership?
From measuring your email campaigns and website data, to tracking the performance of third-party providers and social media marketing, you can collect data at every point of a car shopper’s journey.
Here’s a look at the metrics that matter most.
With analytics, you can look at all these metrics together to calculate your return on investment (ROI) and see just how efficient your marketing spend really is. Analytics are easy to set up, and the benefits are many—data-based information to help you make educated decisions, cost efficiency, and a
competitive advantage.
Helpful resources to get started.
For questions about tracking your metrics, or to learn how your dealership can increase connections and drive leads with CarGurus, call (855) 841-6332, or fill out the form below.
EMAIL METRICS
WEBSITE METRICS
THIRD-PARTY METRICS
SOCIAL
MEDIA METRICS
Website Metrics
EMAIL METRICS
To figure out if your emails and campaigns are actually driving the results you want, pay attention to these four metrics:
Your bounce rate is directly related
to the quality of your subscriber list.
# of emails that were not delivered successfully
total # of emails sent
BOUNCE RATE
=
After a consumer makes a purchase, remove them from email communication lists that are no longer relevant to their needs. This avoids spamming people, and keeps them in your database for upcoming service or future purchases.
# of people who opted out of receiving future emails from your dealership
total # of people who received your email
UNSUBSCRIBE RATE
=
average click through rate for the Automotive Industry
# of people who clicked
a link in your email
total # of emails opened
CLICK THROUGH RATE (CTR)
=
8.1%
# of people who open/viewed your email
average open rate for the Automotive Industry
total # of emails sent
OPEN RATE
=
30%
1
1
WEBSITE METRICS
By tracking the following metrics, you will be able to better understand who your audience is, and, more importantly, how
they use your website to find what they’re looking for:
Third-Party Provider Metrics
Email Metrics
TRAFFIC VOLUME
The number of visitors to your website.
TOP PAGES
The pages that users most often visit on your website.
TIME ON SITE
The average amount of time in minutes and seconds visitors have spent on your website.
PAGE VIEWS
Typically displayed as an average, the number of pages viewed on your website during each session.
CONVERSION RATE
The number of visitors to your website that complete a goal, such as lead form submissions or clicks on store directions, divided by the total number of visitors.
BOUNCE RATE
The number of people who come to your website and immediately leave without interacting further with your site, divided by the total number of visitors.
GOALS
When set up correctly, goals track how well your website is meeting objectives that contribute to the success of your business.
TRAFFIC VOLUME
METRIC TIP
The number of visitors to your website.
Traffic can come from a variety of sources, including organic, referral, social, and direct. Organic traffic, traffic that comes to your website from free search results, makes up the majority of most organizations’ traffic, but traffic can also come from paid sources like ads. In general, your traffic numbers are a good indication of if your website is growing, stagnating, or declining.
2
TIME ON SITE
METRIC TIP
The average amount of time in minutes and seconds visitors have spent on your website.
Time on site can be a strong indicator of campaign performance and customer interest. The longer consumers spend on the site the more engaged they are with your content. This is an important engagement metric that should be looked at in conjunction with traffic volume.
PAGE VIEWS
METRIC TIP
Typically displayed as an average, the number of pages viewed on your website during each session.
Also referred to as pages per session, this metric is a leading indicator of consumer engagement with your site. Easy-to-navigate websites see an increase in the number of pages viewed.
TOP PAGES
METRIC TIP
The pages that users most often visit on your website.
This data is important because it allows you to see which pages are attracting visitors. Consider highlighting these pages in your advertising to further increase conversions.
Homepage
Contact Us
Used Cars
BOUNCE RATE
METRIC TIP
The number of people who come to your website and immediately leave without interacting further with your site, divided by the total number of visitors.
Google Analytics considers a visitor to have interacted with your site if they visit at least one other page. Typically, the lower the bounce rate, the better. A high bounce rate might indicate changes to your website are necessary. For example, if your homepage is the gateway to the rest of your site (i.e. VDPs, reviews, etc.) and a high percentage of people are viewing only your homepage, then you may need to develop more relevant content to engage visitors.
GOALS
METRIC TIP
When set up correctly, goals track how well your website is meeting objectives that contribute to the success of your business.
A goal in Google Analytics measures completed activities or conversions. Examples of goals include lead form submissions, clicks on store directions, and more.
EMAIL METRICS
WEBSITE METRICS
THIRD-PARTY METRICS
SOCIAL
MEDIA METRICS
THIRD-PARTY PROVIDER METRICS
To gauge the effectiveness of your partnerships with third-party lead providers, analyzing these key metrics is crucial:
Social Media Metrics
Website Metrics
LEAD
An individual that has expressed interest in one of your vehicles by sharing contact information, such as an email address or phone number.
CONNECTIONS
All the times a shopper engages with your brand and your cars as they’re shopping.
CLOSE RATE
The number of sales that have resulted from a third-party lead provider divided by the total number of leads from the same lead provider.
COST PER LEAD (CPL)
Total marketing dollars spent divided by number of leads received.
COST PER ACQUISITION (CPA)
Total marketing dollars spent with a given provider divided by number of customers acquired from that provider.
LEAD
METRIC TIP
An individual that has expressed interest in one of your vehicles
by sharing contact information, such as an email address or
phone number.
Measure how your lead volume is changing over time
from each source.
CLOSE RATE
METRIC TIP
The number of sales that have resulted from a third-party lead provider divided by the total number of leads from the same
lead provider.
Analyzing your close rate puts you another step closer to looking at your return on investment from third party providers. Measuring your close rate, cost per lead and cost per acquisition by provider gives you a holistic view of which third-party sites are contributing the most to your bottom line.
CONNECTIONS
METRIC TIP
All the times a shopper engages with your brand and your cars as they’re shopping.
Each connection is a step towards a purchase and an opportunity to engage with the shopper—so they all deserve attention. Besides phone and email leads, you should measure text leads, VDP views, map views, and website clicks.
COST PER LEAD (CPL)
METRIC TIP
Total marketing dollars spent divided by number of leads received.
Depending on the platform, this may be a set cost per lead, or it
could be a subscription fee divided by the number of leads driven by that channel.
COST PER AQUISITION (CPA)
METRIC TIP
Total marketing dollars spent with a given provider divided by number of customers acquired from that provider.
This metric tells you how much your dealership pays in order to acquire a paying customer, not just a lead.
EMAIL METRICS
WEBSITE METRICS
THIRD-PARTY METRICS
SOCIAL
MEDIA METRICS
SOCIAL MEDIA METRICS
Whether you promote your brand to a targeted audience via paid social media tactics like sponsored content and advertising, or you let your content travel across social networks organically, you must analyze your social media marketing to understand its impact. While terms can vary across different platforms like Facebook, Twitter, and LinkedIn, these are the most important:
Third-Party Provider Metrics
IMPRESSIONS
The total number of times your content has been seen, whether it’s been clicked or not.
REACH
The number of unique people who have seen your content—organic or paid.
ENGAGEMENT RATE
The number of user interactions (clicks, likes, comments, and shares) with your content divided by the total number of people who viewed your content.
SHARE OF VOICE (SOV)
How much of the total social conversation in your industry (or your area) is about your brand, compared to your competitors.
IMPRESSIONS
METRICS TIP
The total number of times your content has been seen, whether it’s been clicked or not.
On their own, impressions don’t give the full picture of how your social media marketing is performing.
REACH
METRICS TIP
The number of unique people who have seen your content—organic or paid.
Reach alone does not tell you everything, but it becomes a powerful metric when compared to other engagement metrics.
ENGAGEMENT RATE
METRICS TIP
The number of user interactions (clicks, likes, comments, and shares) with your content divided by the total number of people who viewed your content.
At 0.35%, the Automotive Industry has a better engagement rate than the average of 0.21% across all industries.
Automotive Industry
engagement rate
3
SHARE OF VOICE (SOV)
METRICS TIP
How much of the total social conversation in your industry (or your area) is about your brand, compared to your competitors.
With this metric, you can measure your competitors’ impact just as easily as you can measure your own.
COMPETITOR
YOU
You
Competitor(s)
Have questions or want to know more?
Learn More
EMAIL METRICS
WEBSITE METRICS
THIRD-PARTY METRICS
SOCIAL
MEDIA METRICS
Set up Google Analytics
Important Analytics Terminology
References
1-https://www.benchmarkemail.com/resources/manuals/automotive-dealerships/open-rates-by-industry
2-https://www.regalcreative.com/blog/marketing-metrics-quick-reference-guide
3-https://www.quintly.com/blog/2017/08/average-interaction-rate-facebook-industry-insights
Popup forms are another way to learn
how engaged your audience is.
Fill out this form to continue learning about the
metrics that matter most for your business.
Dealer Resource Centre