Auto dealers say the Internet has provided them with the highest return on investment (ROI) over the last five years, according to a new survey from Autobytel.
The majority (96%) of dealers predict the Internet will play a larger role in their marketing in the next five years. Internet leads continue to play a critical role, with 93 percent of dealers reporting that new and used third-party leads are an important part of their marketing mix.
One hundred percent of deal respondents reported their Internet strategies helped them through these challenging times, with the majority (79.5%) reporting the Internet has been their highest ROI. In contrast, traditional media (TV, newspapers and radio) only ranked first for 7.5 percent, 6.5 percent, and 2.5 percent of dealers respectively.
Dealers said being able to reach customers beyond their immediate market is a key advantage of the Internet, as well as the fact it is more cost-efficient and targeted medium than traditional media like TV & radio.
Ninety-three percent of dealers have increased their Internet marketing budgets in the last five years, with more than half (56%) boosting their Internet budgets by 50 percent or more.
Third-party leads continue to provide benefit to dealers for the following reasons, according to 93% of those surveyed:
- Having control over what I spend/how many leads I’m guaranteed to get’
- ‘Because so many consumers use 3rd-party research websites I’m able to capture ready-to-buy car shoppers’
- ‘They’re cost-efficient and measurable’
- ‘They enable me to expand my reach across Web’