Conquering the Battle for Millennial Buyers by Doug VanSach - Internet Sales 20 Group 10
1. Conquering the Battle for
Millennial Buyers
Doug Van Sach
VP Analytics & Data Services
2. Agenda
• Study overview
• Attracting buyers
• Engaging leads
• Closing the deal
2
Attract
Engage
Close
Dealer Leads
3. Challenge - Dismal Lead Conversion
3
15% Make Appointment
6% Buy a Car
Dealer Leads
$
Source: AutoLoop analysis of 1M
leads
4. Challenge – Low Level of Loyalty
4
5% Lower 12% Lower
Source: AutoLoop analysis of 2M dealer
customers
5. Conducted Studies to Provide Direction
5
2017 AutoLoop-XRM
Lead & Unsold Prospect Study
Finalist
2017 AutoLoop
Automotive Digital Engagement (ADE) Study
o 15M communications
o 1M leads
o 60K surveys
o 10M digital interactions
o 4M dealer customers
o 1K surveys
7. Replace Vehicles More Frequently
7
Source: AutoLoop Automotive Digital Engagement Study
+6 Months -3 Months
8. Reputation Drives Store Choice
Source: AutoLoop Automotive Digital Engagement Study (1,000
survey responses)
8
9. Life Changes and Options Drive Vehicle Choice
9
Source: AutoLoop Automotive Digital Engagement Study (1,000
survey responses)
10. Recommendation #1: Customize Timing and
Messaging of Marketing
Target early in loan period
Build and promote reputation
Advertise right features and give them options
10
17. Follow-up after Each Visit
53%
47%
Had
follow-
up
No
follow-
up
15%
26%
Unsold
Prospects
Post-Visit Purchase Rate
Source: AutoLoop-XRM Lead & Unsold Prospect Study (60K surveys
with leads)
81%
Lift in Purchase Rate
45%
Non-Millenial Millenial
17
19. Address Price and Payment Gaps
Source: AutoLoop-XRM Lead & Unsold Prospect Study (60K surveys
with leads)
19
20. Equity Makes a Significant Difference
20
60%
Lift in Vehicle Sales
Equity-Based Communications
Source: AutoLoop Automotive Digital Engagement Study (1,000 survey response
Source: AutoLoop-XRM Lead & Unsold Prospect Study (10M channel
contacts)
21. Strategy: Sell More Faster with Equity
Follow-up FAST!
Address price and payment gaps
Enable associates with equity throughout the dealership
21
22. Summary
•Customize timing and messaging of marketing to Millennials
•Expand reach and frequency with mobile-first approach
•Sell more faster with equity and prompt follow-ups
22
23. Thank You
Doug Van Sach, VP Analytics & Data Services
dvansach@autoloop.com
www.linkedin.com/in/dougvansach