#RefreshFriday Merchandizing - Someone is Launching a new Service | Joe Pistell

Jump to latest Follow Reply
#102
Always be a human element to video/photo's either good or bad. I wish you luck Joe. If I get those Apple Vision Pro's I'll let you know!
I'm not very good with just my iPhone. I did that like 10 years ago when I was in retail and joined this forum (2014). People came into the dealership and told me they got dizzy watching. But I really didn't care as long as they bought something! Also BTW, Sales tripled at that store from 2010-2012 and I attributed inventory video's as one of the main reasons.
 
Last edited:
  • Like
Reactions: joe.pistell
#104
#UncleJoeRant. (1 of 5)
In the internet era, our industry has had little innovation and has lagged other industries. IMO, dealers have not demanded anything but lead gen from digital vendors, and this is why:
1708612497866.png
(above) Back in the day, when the internet was a baby, Dealers saw the internet customer as a sideshow, they created stand alone departments and pay plans for "My Internet Sales".
 
Last edited:
#105
#UncleJoeRant. (2 of 5)

The Internet evolved, but, the dealer's view of the internet hasn't...
1708613251937.png
The dealer can't see the 'Internet Walk-in', BUT, they intuitively know damn near every walk-in was on their site prior to purchase.
 
Last edited:
Dominion DMS
#106
#UncleJoeRant. (3 of 5)
IMO, most dealer websites are shitty spammy junk.
1708613539300.png
Lead gen obsessed dealers can't see how lead gen SPAM creates lost "walk-in" opportunities, AND, because these can't be measured, they (i.e. the industry) ignores it.
 
Last edited:
#107
#UncleJoeRant. (4 of 5)

How big is your invisible walk-in audience? 60% of total Sales?​

Do the math. Let's say you sell 100 VINs a month...
  1. Survey your BUYERS, before delivery, ask "were you on our website prior to purchase? (yes or no)"
  2. Take the "yes" count and from this remove the total sales count from BDC dept.
  3. Done.
 
#108
#UncleJoeRant. (5 of 5)
To determine the "Internet Walk-in" sales ratio from monthly VIN sales, follow the steps outlined below, using the defined variables and formulas.

Definitions:
  • V = Total sales of VINs a month (e.g., 100 VINs)
  • B = Percentage of buyers who were on the site prior to purchase (from survey, e.g., 80%)
  • L = Sales rate of BDC/Lead Gen as a percentage of total store sales (e.g., 20%)
Objective:
Calculate the "Internet Walk-in" sales ratio, which represents the percentage of total sales made by customers who visited the website before purchasing but were not accounted for through BDC/Lead Gen efforts.

Steps:
  1. Calculate Buyers on Site Prior to Purchase:
    • Formula: Buyers on site = V * B
    • This step determines the number of buyers who visited the site before making a purchase.
  2. Find BDC/Lead Gen Sales:
    • Formula: BDC/Lead Gen sales = V * L
    • This calculates the sales attributed directly to BDC/Lead Gen efforts.
  3. Calculate "Internet Walk-in" Sales:
    • Formula: Internet Walk-in sales = (Buyers on site) - (BDC/Lead Gen sales)
    • By subtracting BDC/Lead Gen sales from the total buyers on site, we find the number of "Internet Walk-in" sales.
  4. Determine "Internet Walk-in" Sales Ratio:
    • Formula: "Internet Walk-in" sales ratio = ((Internet Walk-in sales) / V) * 100%
    • This final step calculates the "Internet Walk-in" sales ratio as a percentage of all sales.
Final Formula:
  • "Internet Walk-in" sales ratio = (B - L) * 100%
Example Calculation:
If B = 0.80 (80%) and L = 0.20 (20%), then the "Internet Walk-in" sales ratio is calculated as:
  • "Internet Walk-in" sales ratio = (0.80 - 0.20) * 100% = 60%
 
#110
I haven't bought a car that wasn't either a magazine (Japan used to have 300 page books) or an internet shopping experience first.

But, I'm also the kind of shopper that is looking for a specific make-model-trim. I have ended up buying a differentcar off the lot but that was only because I had used the internet to go check out what I thought I liked.

Yes, I have cruised a lot but that's window shopping for giggles because I was already at a dealer a few doors down.

Do people really just go to a dealership and say "HI! I"m looking for a car to buy, what do you have?" ?
 
Top Bottom
Back
Jump to latest Follow Reply
Jump to latest Follow Reply
Menu