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Sell More Cars with Interactive Video

Sell More Cars with Interactive Video. Collin Davis CTO, WheelsTV. www.WheelsTVNetwork.com 1-844-WHEELSTV. Discover how interactive video test drives convert car shoppers into car buyers. See how sales associates can use video sharing to drive more traffic and engagement.

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Sell More Cars with Interactive Video

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  1. Sell More Cars with Interactive Video Collin DavisCTO, WheelsTV www.WheelsTVNetwork.com 1-844-WHEELSTV

  2. Discover how interactive video test drives convert • car shoppers into car buyers. • See how sales associates can use video sharing • to drive more traffic and engagement. • Learn how interactive video test drives build • customer trust and goodwill. • Determine best practices for driving traffic to your • dealership website through social media sharing. • Discover how to boost sales by adding video toyour lead follow-ups. Sell More Cars With Video Case Study Goals Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  3. 1997: Macromedia acquires Jonathan Gay’s startup, FutureSplash, and shortens the name to Flash. 2005: Three former PayPal employees start a video-sharing website enabling users to upload, share and view videos. They call it YouTube. 2005: WheelsTV launches Top 200, the first-ever new car video reports, covering the most popular 200 new cars. 2006: Google purchases YouTube for $1.65 billion. 2007: Broadband penetration in the U.S. hits 50 percent. 2007: Smartphone use skyrockets. 50% of mobile users use their phones for email, up from 19% the previous year. 2008: WheelsTV launches 1:00onOne videos, the first automotive video series to cover 100% of new cars. A Brief History of Online Video Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  4. 2010: Steve Jobs announces the iPad, 2010: Blockbuster files for bankruptcy. 2011: WheelsTV launches development of the iDrive Video Player and the Dealer Video Showroom. 2012: YouTube announces it will put $100 million into new video content. 2013: WheelsTV’s video production hits 1,015 for the year. New2U Used car videos are announced. 2013: Google Releases Digital Drives Auto Shopping Research Paper. March, 2014: J.D. Power Third-Party Automotive Website Evaluation Study declares “VIDEO CONTENT IS KING!” A Brief History of Online Video Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  5. Google’s Vehicle Shopper Path to Purchase Study reports that watching video online has gone from a niche activity to MAINSTREAM. It’s now a MUST HAVE • carshopping tool for every dealer, that consumers expect. • 89 million people in the U.S. watch 1.2 billion videos each day. 1. • Online video now accounts for 50% of all mobile traffic. 2. • 92% of mobile video viewers share videos with others. 3. • Are they sharing your automotive videos? • Video included in email marketing increases the click-through rate • by 200%. 4. • Online video is the #1 format for encouraging brand consideration. 5. Why Automotive Video is Essential TODAY Sources: 1. ComScore, 2. Bytemobile Mobile Analytics Report, 3. Invodo 4. & 5. Google Vehicle Shopper Path to Purchase Study Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  6. 84% of online car shoppers plan to watch automotive videos the next time they shop for a car, compared to 78% last year. 1. • 57% of car shoppers say watching videos online helped introduce them to new brands. 2. • 74% say online videos helped them to learn more about specific trucks and cars. 3. • 65% were able to narrow down options after watching online automotive videos. 4. • ACTIONS TAKEN AFTER WATCHING: 5. • 61% used computers to find more info. • 49%visited a dealer. • 37% searched dealer inventory. • 33% talked to friends, family or colleagues • Source: 1., 2., 3., 4. Google Vehicle Shopper Path to Purchase Study. Source: 5. Millward Brown Digital/Google Vehicle Shopper Path to Purchase Study, September 2013 Google Vehicle Shopper Study Highlights* Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  7. The Problems Dealers Face Millenials don’t like visiting dealers’ showrooms. Deloitte study…What’s more painful? Going to the dentist or dealing with a car salesman? Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  8. The Problems Dealers Face More than half said dealing with a car salesman is more painful. Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  9. Dealer showrooms are busy on weekends but empty during the week. The Problems Dealers Face Saturday & Sunday Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  10. The Problems Dealers Face Monday through Friday Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  11. 3. Raw data, still photos and slide shows aren‘t as engaging or convincing as REAL full-motion video. The Problems Dealers Face Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  12. 4. Online car shoppers visit as many as 25 websites before settling on which car to buy. The Problems Dealers Face Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  13. Help Dealers to Sell More Cars, and do it with interactive video. Make video test drives viewable on all devices: desktop, tablet, and mobile. Create an interactive video platform that enhances existing sales processes. Design a way to INSTANTLY deliver the information consumers need within the videos. The Challenges WheelsTVFaced Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  14. 2011 Q4: WheelsTV begins research and development of the iDrive Video Player and the Dealer Video Showroom. The goal was to bring data to life with video, and allow dealers to utilize video effectively and affordably. 2012 Q2: WheelsTV launches the iDrive Video Player with interactive chapters that instantly play and light up as each chapter is clicked, increasing customer engagement. 2012 Q4: WheelsTV launches the Dealer Video Showroom Alpha test. The Quest for the Interactive Video Solution Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  15. KPI’s: • Virtual video test drives of every make and model. 100% coverage. • Instant access to information within video. • Simple & seamless Integration • Compatibility with all dealer websites and CRMs • Measureable results • GOALS: • Save time during research and purchase process. • Increase engagement and empower car shoppers. • Enhance the experience with interactive video. • Increase CTR’s for Dealers. • Build consumer trust and goodwill with quality third-party video. • Improve Lead-to-Sale Conversion Rates. A Vision for Dealer Video Success Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  16. 2013 Q1: WheelsTV Dealer Video Showroom one-year BETA test is launched with 7 dealers. 2014 Q1: WheelsTV conducts successful Internet Leads A/B test with select dealers. Proving The DVS Concept • Home PageIntegration Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  17. Virtual Test Drive Landing Page VDP Proving The DVS Concept Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  18. VIDEO PRE-ROLL • Promote your dealership brand with a quick video pre-roll. • Video pre-rolls enable you to add a call-to-action. • Video pre-rolls play each time a user visits your site for the first time. • FACEBOOK • Reach your Facebook Page's fans with engaging video content of every model you sell. • Create “likes” and “comments” around the video to drive the conversation further. • Add targeted messaging for special offers, new inventory in stock, and more. • GOOGLE + • Reach your Google+ followers with engaging video content of every model you sell. • Rank quickly in Google search results when you post your videos alongside targeted • messaging for special offers, new inventory, and more. • Generate +1's and comments to drive the conversation around your content. • TWITTER • Reach your Twitter followers with engaging video content of every model you sell. • Tweet about special offers, new inventory, and more. • Include relevant hashtags and mentions to help boost your Tweet's visibility. DVS Enhancements Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  19. How was your video experience? • Very easy to shop. Does the V6 Chrysler 200 really get slightly better mileage than the I-4? • Fun and Informative • Good. I learned a lot about Cadillac. Too expensive for me! • It was great. I do not know much about cars and this is a fine way to shop. Thank you. • Terrific experience! Enjoyed the video and learned a lot.What do you like most about interactive videos? • Easy to get info I wanted. • I didn’t have to go to the showroom and listen to the • same info from the salesman. • The large selection. • I was able to go right to warranty and then jump back • to fuel economy. • I was in control of the experience. DVS Market Test: User Feedback Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  20. Tania Audet, Internet Sales Manager, Colonial Chevrolet, Acton, MA: “I Love this! The Internet shopper needs this. All of our sales people can use this video showroom to individually market cars to their customers with email links.” Justin Brun, E-Commerce Manager, Acton Toyota “The DVS is an ACTION item here at Acton Toyota. We send out the links to every customer with video of the car they inquired about. It moves the sale forward.” “With the DVS, our potential customers don’t need to go anywhere else. They get the full range of information they need about the vehicle.” Brian Loiseau, General Sales Manager, Acton Chrysler Jeep Dodge RAM: “An excellent tool for our sales people. Very nice way of engaging our customers, letting them see the car in action.” “ I had almost double the follow-ups from my Internet leads last week and of the seven using the DVS, three came in and ALL THREE BOUGHT.” Market Test: Dealer Feedback Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  21. Avg. Time on DVS: 7:50 minutes Industry Average (IA): 3:10 minutes 138% Improvement Bounce Rate: 22.32% Industry Average: 40.50% (82% boost) *Internet lead email response rate (w/ DVS video): 32% **Internet lead email response rate (w/o DVS video): 18% (78% boost) *DVS email response template used. **TrueCar email response template used Market Test: Key Metrics Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  22. We discovered how interactive video converts car shoppers into car buyers: • Engages the car shopper, converting leads to sales. • Does the educating for you. Hours of research in minutes. • Clicking on chapters leads to clicking on Get Price, • Show Inventory, Special Offers, Contact Dealer • or the Home Page of the Dealership. • Trusted, independent third-party video presents • the vehicle’s best attributes. • Authoritative presentation boosts car shoppers’ confidence. • Entertaining and informative experience keeps the car shopper on YOUR WEBSITE, moving the sale forward until they are ready to buy. What Have We Learned? Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  23. We learned how sales associates can share videos to boost traffic: • Include link in email lead responses to the video test drive of the car the consumer is interested in. • Include a link to a video test drive for clients whose leases are ending. • Include a link a video test drive of a new or redesigned car and email it to clients who own an older model of that car. • Include a link to a video test drive in email newsletters or advertising to promote new vehicles in stock or special offers. • Include video links throughout your main site to keep visitors engaged and shopping. What Have We Learned? Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  24. We saw how interactive video test drives build customer trust and goodwill: • Objective, neutral, third-party videos on every new car you sell educate customers and build trust. • The added enjoyment of the interactive experience builds rapport and goodwill. Customers don’t feel like they’re being “sold”. What Have We Learned? Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  25. We learned how to convert more leads to sales: • Car shoppers who request a price are 78% more likely to respond if you include a video. What Have We Learned? Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  26. We share the best practices to driving traffic to your dealership website through social media. • PEW Research: • As of September 2013, 73% of online adults use social networking sites. • 47% of adult internet users take photos or videos that they have found online and repost them on sites designed for sharing images with many people. We call them curators and their number has grown from 41% of Internet users last year. • Reposting videos is most popular among internet users ages 18-29. More than half of these young adults repost videos. Millenials use social media to share and gain knowledge, and give or receive feedback from friends and family, with Likes, Tweets and comments. What Have We Learned? Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  27. Sell More Cars with Video Learn more about WheelsTV: www.WheelsTVNetwork.com Collin Davis CTO, WheelsTV cdavis@wheelstv.net

  28. Sell More Cars with Video Questions? Collin Davis CTO, WheelsTV cdavis@wheelstv.net

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