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Gerardi: Measuring Impact

Often the hardest thing for car dealers to do is get a true understanding of their marketing investment. What's working? What's not? Is it worth the money? Is there a return on investment? Ryan Gerardi tackles this concept on Driving Sales:

With more advertising channels comes more ways to reach potential consumers, but also more complicated analysis to determine if your investment is working. Effectively, your ability to attribute sales to specific marketing initiatives has evolved, but so too have the intricacies.

So where should savvy marketers start?

In marketing, attribution means the tracking of your marketing investment through each stage of path-to-purchase from creating awareness to driving traffic to close. Attribution allows you to understand which elements of your marketing mix were involved in the purchase decision process, and ideally, which were the most effective.

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Money AND Time Determine ROI

When dealers look at the return on investment of any product or service, they often focus strictly on the cost versus rewards. How many leads will it generate? How many sales will it bring? This is great, but there's another level that dealers must consider. How much time will it save?

In this article on Dealer Refresh, we examine the importance of timing and look at some of the products and services out there that are recommended as time savers even if the return on financial investment isn't necessarily there.

At most dealerships in North America, there is a huge gap in the free time available to people in different roles. Some people such as General Managers and eCommerce Directors could probably count the free minutes they get in a day on one hand. Other roles seem to have a hard time staying busy at all.

Read more on Dealer Refresh.

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