Recent research validates that the sales cycle is longer than often believed providing the dealer with a greater opportunity to engage the prospect, establish trust and get the sale. Prospects visit 3.8 dealerships on average and over 40% of prospects buy a vehicle 90-120 days from their original dealer visit. What does that mean for the dealer? There is more time to effectively target and conquest prospects from competing stores.
V12 Signals for Auto uses mobile location device data to identify highly qualified prospects segmented by dealer brand visited, vehicle brand owned, distance calculations from neighbor dealerships, and more.
Automotive marketers are provided with daily consumer audiences who have visited a dealer’s lot within the previous 24 – 48 hours. Each lead includes name and address and is often enhanced with additional demographic, vehicle, and contact data.
We partnered with four industry leading organizations to track, monitor, and validate the value of V12 Signals Leads. The National Study revealed the following results:
After extensive attribution studies from reputable 3rd party data sources, we can confidently say that this “Consideration Phase” (the time from which a customer first visits a dealer’s lot to purchasing a vehicle) is much longer than the 30 days internet sources have been telling the automotive industry.
In fact conversion to sale is as strong in the 90-120th day as the first 3 months combined.
This means that there is time for a real opportunity to communicate a value and trust message to consumers who are shopping. Omnichannel strategies, including print mail, email and digital, can be combined to create a highly effective strategy to sell more.