Uncle Joe's Make Over Diary

[craigh]

I'm trying to wrap my head around this and put the numbers in a different light to see what I can learn from this.

Using an example client (my data):
Monthly Sales: 115
Monthly Uniques: 4016
Return Uniques: 1100

Using Survey Results (your data):
% of Customers Visiting More than Once: 88%

With that data, 88% of my sales was 101 sales - this should represent the number of customers who visited the site more than once.
Using my data sources, I should have 1100 people in a month that meets that criteria (Return Uniques)

This would mean that 9% of my returning visitors are purchasing a car.

The piece I'm missing that makes all this data useless is that I need to know what % of customers answered "Yes" to your gateway question of "Did you visit the website?"

If I hypothetically were to reduce that by 50% and say only half my customers saw the website, that's still a 4.5% closing rate on my return visitors and that would change my entire perspective of these visitors and how I treat them - that's a 1 in 20 chance they're going to buy in the current month.

 

[joe.pistell]

I'm trying to wrap my head around this and put the numbers in a different light to see what I can learn from this.

Using an example client (my data):
Monthly Sales: 115
Monthly Uniques: 4016
Return Uniques: 1100

Using Survey Results (your data):
% of Customers Visiting More than Once: 88%

With that data, 88% of my sales was 101 sales - this should represent the number of customers who visited the site more than once.
Using my data sources, I should have 1100 people in a month that meets that criteria (Return Uniques)

This would mean that 9% of my returning visitors are purchasing a car.

The piece I'm missing that makes all this data useless is that I need to know what % of customers answered "Yes" to your gateway question of "Did you visit the website?"

If I hypothetically were to reduce that by 50% and say only half my customers saw the website, that's still a 4.5% closing rate on my return visitors and that would change my entire perspective of these visitors and how I treat them - that's a 1 in 20 chance they're going to buy in the current month.

You missed it just by a little. Working backwards...

115 sales
101 Buyers that were on dealer's site prior to purchase (88%)
--From this group of 101

13 buyers made 1 visit (13%)
19 buyers made 2 visits (19%)
21 buyers made 3-5 visits (21%)
48 buyers made more than 5 visits (48%)​

Here's the WOW factor:

1. 88% of all sales came through the dealer's website.
2. 69% the buyers were on the dealer's website 3 times or more. This means....
3. 61% of total sales were to buyers that were on the dealer's site 3 times or more (69% of 88 = 61%)

#EpicNumbers

 

[craigh]

You missed it just by a little. Working backwards...

115 sales
101 Buyers that were on dealer's site prior to purchase (88%)
--From this group of 101

13 buyers made 1 visit (13%)
19 buyers made 2 visits (19%)
21 buyers made 3-5 visits (21%)
48 buyers made more than 5 visits (48%)​

Here's the WOW factor:

1. 88% of all sales came through the dealer's website.
2. 69% the buyers were on the dealer's website 3 times or more. This means....
3. 61% of total sales were to buyers that were on the dealer's site 3 times or more (69% of 88 = 61%)

#EpicNumbers

Where did you get your 88%?
My 88% came from your survey, which says that 88% of buyers visited more than once - the other 12% still visited one time.
Your numbers above just took 88% and then applied another 88% filter to it again (2+ visits).

115 x .88 = 101
101 x .88 = 88

19 buyers made 2 visits (19%)
21 buyers made 3-5 visits (21%)
48 buyers made more than 5 visits (48%)

This also equals 88^

So are you saying that it just so happens that the number 88 is the answer to both these questions?
- What percentage of customers visited the website before purchasing?
- What percentage of those who visited the website before purchasing visited more than one time?

 

[joe.pistell]

Where did you get your 88%?
My 88% came from your survey, which says that 88% of buyers visited more than once - the other 12% still visited one time.

Survey asked: "Prior to purchase, did you visit our dealership's website?" 88% said yes. (this means the remaining 12% DID NOT go to the dealer's site).

FYI: Here's the buyer's survey
http://forum.dealerrefresh.com/threads/survey-at-delivery-a-road-map-to-your-store.3751/#post-32318

Did you visit [your store site.com]?
____ Yes
____ No

IF YES…
Did you visit [your store site.com] more than once?
____ One time
____ Two times
____ less than 5 times
____ I went there a LOT!

 

[craigh]

The piece I'm missing that makes all this data useless is that I need to know what % of customers answered "Yes" to your gateway question of "Did you visit the website?"

Alright, that's perfect - then the number I said I was missing is in fact 88% and that completes my data, just as you showed it.

88 of my 115 buyers should be recurring visitors. That still leaves me with 8.08% of my returning website visitors purchasing a car. That's very high - this means I should treat returning visitors as extremely high intent because more than 1 in 20 of them will buy a car.

Here's the WOW factor:

1. 88% of all sales came through the dealer's website.
2. 69% the buyers were on the dealer's website 3 times or more. This means....
3. 61% of total sales were to buyers that were on the dealer's site 3 times or more (69% of 88 = 61%)

#EpicNumbers

I'm not that wowed by the 88% - that number seems exactly where I expected it to be. Then again, I don't visit any store (not just automotive) without first looking at their website for hours of operation, address, sales, staff names, etc.

The other two stats are impressive, but flipping it around is far more impressive to me - 1 in 13 returning visitors (based on sample stores data I'm using) will purchase a car from your dealership. This changes the way I do live chat, lead prioritization, website content shaping and vehicle promotions. If 69% of buyers see the site more than 3 times, I can treat their first visit like a gateway visit 2 out of 3 times, then when they return I can welcome them back and let them pick up where they left off.

Time to convert to actions on my end.

 

[joe.pistell]

...The other two stats are impressive, but flipping it around is far more impressive to me - 1 in 13 returning visitors (based on sample stores data I'm using) will purchase a car from your dealership. This changes the way I do live chat, lead prioritization, website content shaping and vehicle promotions. If 69% of buyers see the site more than 3 times, I can treat their first visit like a gateway visit 2 out of 3 times, then when they return I can welcome them back and let them pick up where they left off.

Time to convert to actions on my end.

"To flip the numbers no need, to each other all the numbers connect. Yes, hmmm."

 

[craigh]

I wish I spoke Yoda

 

[joe.pistell]

Yoda: "To flip the numbers no need, to each other all the numbers connect"

The other two stats are impressive, but flipping it around is far more impressive to me -

English: "no need to flip the numbers, all the numbers connect to each other"

You can yoda too http://www.yodaspeak.co.uk/index.php

 

[joe.pistell]

New Idea Feedback Wanted, Round #2.

If you're a Dealer.com client, I'd like your opinion on 12 new top secret product concepts. I want your raw opinions, hit me hard, no fluff. We'll do it by phone. Private Message me here or send me an email at joe[dot]pistell[at]dealer.com

thnx
Joe

 

[joe.pistell]

Managers & owners, if you think you're progressive, get ready for a real challenge. http://www.dealerknows.com/what-happens-when-they-disappear/ It's a great read from Dealer Knows' Bill Playford.

"...From a human resources standpoint, the optimum hire from 30 years ago simply doesn’t exist anymore. You don’t have to crack open a book to realize that, since the Great Depression, every subsequent generation has changed radically from the previous one. Think about that for a second. Whether it was being drafted into a war, rock and roll, space travel, computers, designer dru..clothes, dual career households, video games, or the sharing economy, it’s getting harder to identify with those who came before us. Square peg? See round hole.

It’s high time that we stop bitching about people not wanting to work. There, I said it..."

​

Bill calls out the dirty lil' secret in our space. I've re-read it 2X today!