Whether we realize it or not we are calculating ROI continuously throughout our day with every latte, brake repair, and dentist visit. Anything that costs limited resources of time or money should produce, at minimum, an equal return on our investment. One of the most important factors in any ROI calculation is benchmarking: you’ve got to know where you stand and know where you want to go in order to be able, to know how to get there. Got that? The practice of benchmarking combined with consistent reporting updates is a great tool to increase shared knowledge and an important step to maintain the Virtual Dealership.
There is no shortage of data in our world: you can track the number of steps you take each day, the quality and quantity of your sleep each night, the buying patterns of your customers, the list goes on. We’re big fans of data and the powerful insights that can be gained through careful data analysis, so one of the first things we do as part of the process of onboarding 3 Birds clients is to prepare and review a benchmark report. You know what they say: "You can't manage what you don't measure." Similar to the 3 Birds’ Assessment product, this report gives a customer-facing view of a dealership’s current standing in the areas of social media, online reputation, and Google SERP, which provides both the dealership and our Digital Strategists a crystal-clear view of the greatest area for improvement, opportunity, and growth in each of these areas. Our Digital Strategists look for things like how often the client posts to the dealership social media pages, whether or not all social media and online reputations list the same information for the store (hours of operation, contact numbers, etc.) and whether competitors lurk on the first-page search results of the dealership’s name, ready to grab potential customer clicks away!
After the initial benchmark report, the goal moves to continuous monitoring and analysis of these key areas of growth within a dealership with monthly reporting updates. These monthly reports track growth in each of these key areas as well as offer personalized suggestions for areas of improvement and, most importantly, highlight the dealership's “wins” for the month where digital marketing efforts are rewarded.
Benchmark reporting clearly establishes a baseline for digital marketing efforts and consistent reporting gives a measurement of monthly improvements, stagnations, or dips in these efforts. Throughout the month, 3 Birds’ clients also enjoy the benefits of data analysis from each send executed through the system, indicating deliverability, drill-down click reporting and more. These act like mini-road markers of opportunity on the path to increasing engagement and building loyalty and trust with your customer base.
There are almost innumerable way to utilize this data to produce more sales appointments and service ROs. We recommend including at least one relevant, gotta-have-it service coupon in each month’s newsletter. One of the easiest and most effective ways to capitalize on the data generated from the resulting clicks is to pull a report of customers who clicked on “Print Coupon” and compare that with the scheduled appointments for that particular service. If a customer shows up on the newsletter report but not in scheduled appointments, it’s an easy call to make to get them to come in for an appointment and use their coupon! They get a great deal and your service department gets an easy appointment.
There’s a lot of data out there and even more ways to use it, so drop us a line if you’d like more tips like these or would like to learn more about 3 Birds’ managed House+, Eye+, and Buzz+ services.