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Conquering the Battle for
Millennial Buyers
Doug Van Sach
VP Analytics & Data Services
Agenda
• Study overview
• Attracting buyers
• Engaging leads
• Closing the deal
2
Attract
Engage
Close
Dealer Leads
Challenge - Dismal Lead Conversion
3
15% Make Appointment
6% Buy a Car
Dealer Leads
$
Source: AutoLoop analysis of 1M
leads
Challenge – Low Level of Loyalty
4
5% Lower 12% Lower
Source: AutoLoop analysis of 2M dealer
customers
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
ATTRACTING BUYERS
Replace Vehicles More Frequently
7
Source: AutoLoop Automotive Digital Engagement Study
+6 Months -3 Months
Reputation Drives Store Choice
Source: AutoLoop Automotive Digital Engagement Study (1,000
survey responses)
8
Life Changes and Options Drive Vehicle Choice
9
Source: AutoLoop Automotive Digital Engagement Study (1,000
survey responses)
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
ENGAGING LEADS
Maximize Response with Mobile
12
Source: AutoLoop-XRM Lead & Unsold Prospect Study (10M
channel contacts)
Millennials
Same
+7%
+13%
Create More Opportunities for Engagement
13
Source: AutoLoop-XRM Lead & Unsold Prospect Study (10M
channel contacts)
Use the Right Language
14
Source: AutoLoop Automotive Digital Engagement Study (1,000
survey responses)
Recommendation #2: Expand Reach and
Frequency
Mobile first, omni-channel approach
Frequent engagement
Millennial-friendly language
15
CLOSING THE DEAL
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
Follow-up Quickly
Source: AutoLoop-XRM Lead & Unsold Prospect Study (60K surveys
with leads)
18
Address Price and Payment Gaps
Source: AutoLoop-XRM Lead & Unsold Prospect Study (60K surveys
with leads)
19
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)
Strategy: Sell More Faster with Equity
Follow-up FAST!
Address price and payment gaps
Enable associates with equity throughout the dealership
21
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
Thank You
Doug Van Sach, VP Analytics & Data Services
dvansach@autoloop.com
www.linkedin.com/in/dougvansach

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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
  • 12. Maximize Response with Mobile 12 Source: AutoLoop-XRM Lead & Unsold Prospect Study (10M channel contacts) Millennials Same +7% +13%
  • 13. Create More Opportunities for Engagement 13 Source: AutoLoop-XRM Lead & Unsold Prospect Study (10M channel contacts)
  • 14. Use the Right Language 14 Source: AutoLoop Automotive Digital Engagement Study (1,000 survey responses)
  • 15. Recommendation #2: Expand Reach and Frequency Mobile first, omni-channel approach Frequent engagement Millennial-friendly language 15
  • 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
  • 18. Follow-up Quickly Source: AutoLoop-XRM Lead & Unsold Prospect Study (60K surveys with leads) 18
  • 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