Inverse Relationship Between CarGurus and Cars.com SRP/VDP Conversions?

[joe.pistell]

woa boy, @Dan Sayer here we go...
Assuming SRP traffic is the same, Higher CTR will create more VDPs. For every 100,000 SRPs. a 1% rise in SRP/VDP ratio will create 1,000 more VDPs (FREE

To get a read on how stable SRP/VDP CTR is, I wanted to see it mapped across time, across all stores (Used only)

Woa, what a peak in June-Sept 23. Before and after looks to be the 'normal' CTR range. I ck'd to see if any store(s) caused this outlier, all stores generally rose and fell in this period (Anderson Ford South rose the most, Anderson Kia of St Joseph rose the least).

Dan, did your group do a big mark down event in the June, July, Aug, Sept 23?
Thoughts?

 

[joe.pistell]

I wanted to view Used vs CPO...

CPO CTR is generally higher and followed used...

but the CPO WIFM isn't in the Hero...

Dan, if you add CPO WIFM on the hero, u may boost CTR and get you some free traffic

 

[joe.pistell]

Chart Hypothesis:
If higher CTR = higher shopper interest, is that seen in higher counts of saved vehicles?

Fascinating.
My gut was off on this one. They are correlated, I expected a far higher correlation.

@Dan Sayer January saved VINs are off the chart, how was used sales?? (I prorated Feb saves, they look good)

 

[Dan Sayer]

Dan, did your group do a big mark down event in the June, July, Aug, Sept 23

For Used, we have a pretty hard stop at 75 days with pricing strategies set at a lower and lower % of market at 15, 30, and 60 days. Bronze units are limited to a hard 45 day. I think we implemented those price rules and day rules in the late spring last year so that was the reason. I handed this type of classifieds review off to the CMO a couple years ago and it'll most likely come back into my lap later this year. I love this stuff but not in my front view a this point.

January saved VINs are off the chart, how was used sales??

All stores hit forecast on Used in January, so it was a good Used month.

Dan, if you add CPO WIFM on the hero, u may boost CTR and get you some free traffic

That seems to be a common theme of managing Homenet and our banners. Our recon process either misses or Homenet gets crossed. Either way, digital-lot-walk isn't happening like it should from Used managers. We are looking at other options to make sure this is consistent in both system and accountability.

 

[BillKVMotorCo]

After speaking with my account managers at each of "The Big 3," it seems like the biggest problem with comparing the conversion rates is how they measure what exactly constitutes an SRP.

 

[joe.pistell]

After speaking with my account managers at each of "The Big 3," it seems like the biggest problem with comparing the conversion rates is how they measure what exactly constitutes an SRP.

Dude, you ask great questions, I was head of marketplace at CARS and no one ever asked that question and I never thought of it either

 

[Dan Sayer]

After speaking with my account managers at each of "The Big 3," it seems like the biggest problem with comparing the conversion rates is how they measure what exactly constitutes an SRP.

It seemed like they were never wanting an apples to apples comparison by tweaking their versions of data. Cargurus SRPs counted everything that loaded "below the fold" even if the scroll never made it to someone's eyes so they had more SRPs but lower SRP/VDP rates. AutoTrader used to run any metric that had to do with "per vehicle" (like VDP per) using average daily inventory counts as the denominator whereas Cars.com used the total syndicated unique VIN count in that same range. So AutoTrader used to always come to the table with "we provide more VDPs per vehicle". Earlier than that Cars.com and AutoTrader had different SRP CTAs and information shown in the SRP view so shoppers had to click through the SRP into the VDP to get the same information as the competitor driving up conversion and VDP views.

Are they still doing any of this now? I'm somewhat removed from monitoring this in my stores in the last few years in my current role. I do recall spending time with Cargurus VP of Dealer Product, Andrew Grochal, in '20 and at the time and he was very responsive to some changes on the dashboard and reporting. I think I got the 13th month on the dashboard and SRP views to show above the fold during the meetings we had.

 

[joe.pistell]

Cargurus relevant news "On 2/21, we’ll be changing our default SRP sort order to ‘Best Match’"
No change yet, Watch your CG performance data in March.

 

[joe.pistell]

FWIW, AT feels like its sailing out into the sunset and CG's 'Best Match' kills it's USP and it's SRP output will be based on voodoo )on par with Cars.com).

AT & Cargurus ?

 

[BillKVMotorCo]

FWIW, AT feels like its sailing out into the sunset and CG's 'Best Match' kills it's USP and it's SRP output will be based on voodoo )on par with Cars.com).

AT & Cargurus ?

I've always thought it funny how far "Deal Rating" was down the list of CG's filter options.