Can I suggest one way to calculate the specific value of traffic? Check out this blog... http://blog.stringautomotive.com/how-to-calculate-value-per-page
Our platform calculates this for you with custom inputs per conversion/lead source, but the blog shows a do-it-yourself version for all.
As one who spent years trying to draw this correlation using only GA and total media spend, we've come a long way to have this debate in an automotive forum. I had a dealer in Pascagoula, MS actually comment to my superior once, "If she talks to me about the damn website traffic once more, I'm going to throw her out of my office." So, I am happy to hear the battle is still raging to draw the correlation.
I'm just not sure I fully buy into the Sales per Thousand Visitors (SPMV- we might as well make an acronym out of this, right?) as a standalone metric on which to ACT. If the reaction to this metric is "Great, so I just need to drive more traffic to my web site," the dealer is missing a ton of insight. Isolating engagement metrics at a campaign/landing page level will help you identify the highest converting sources of traffic. Also, looking at trends in relation to change in advertising mix and budget are key.
That said, we do see proof points everyday that as traffic increases at a zip by zip level, sales increases in those same zip codes. Inside PMA outside, etc. That type of data is not only actionable, it should inform the ENTIRE strategy at the dealership. Not just the digital budget, but the overall advertising spend can be optimized when those metrics are easily accessible.
Bill Simmons, the invitation still stands. Happy to throw those metrics into the DPS and drill down in order to add more color to the conversation. #noinvoicerequired
