31 July 2018
Attribution is an important ingredient in effective
automotive digital marketing. Knowing which campaigns and strategies are
actually getting people to convert shows you where marketing dollars are
getting the greatest return, and helps you plan strategically.
Attribution data in
online marketing may refer to any of the following: lead attribution, traffic
attribution or sales attribution.
attribution is about understanding which sources - organic search,
ads, social media etc., are bringing the best converting traffic to your
website. This can be easily tracked down and measured by using Google
helps your auto business understand on which offers a lead converted into a paying
customer. Your dealership CRM software can measure this data accurately.
Understanding which touch-point made the customer actually
close the deal is sales attribution, and it is the most difficult one to keep track of.
A customer who converts or closes a sale based on just one
single interaction is very rare. Due to this, most companies have moved away
from single-touch attribution, where all the credit is given to one source,
toward multi-touch attribution, where multiple interactions are taken into
Typically, when it comes to lead attribution, the first
conversion gets credit. But what if a customer converts during the second or
It certainly makes no sense to give credit to the first
conversion always. With people doing more car buying research than ever online,
all auto dealerships want multiple engagements. Every opportunity to move leads
down the sales funnel is important.
Analytics Can Help
Google Analytics is a very effective tool for measuring
attribution data for your auto dealership. It even provides you different
attribution models that distributes credit to different aspects.
While some models provide more weightage to the last
touch-point or equal weightage to each touch-point, other models give higher
priority to the most recent touch-points. There is even a model that splits 80%
of the weightage equally between the first and last touch-points, while
distributing the balance 20% between the remaining touch-points.
Instead of relying on just one model to give you the
required data, we recommend comparing multiple attribution models at once. This
will provide deeper insight into how to properly attribute conversions to your
Attribution for the Advantage of Your Auto Dealership
What auto dealers must understand is that multiple
conversions are the key in the world of online marketing today. When looking at
attribution for digital marketing, a multichannel attribution model is
recommended to account for all aspects of the marketing funnel.
From the top of the funnel to the bottom, a customer will
see multiple touch-points on different channels. You can better optimize your
marketing campaigns by understanding the value of each channel.
This will provide further insight into how to properly
attribute conversions to your marketing efforts. Quantifying how marketing
affects a dealership’s bottom line is crucial to its success and expanding its
It’s helpful to look at the data to spot trends rather than
absolute winners or losers - which sources usually bring in better leads? Which
ones perform well overall, and which ones don’t?
Thinking of attribution from this angle will be a better
way to spot influential points and work on them to increase the revenue
generated from your auto dealership.
For more information, Contact Us