Sometimes You Have to Lose to Win
Proving marketing results is challenging for vendors. The monthly reports they supply to dealers to show their worth are not always good news. But… that isn’t necessarily bad.
Many consider Michael Jordan one of the greatest, if not THE greatest, basketball player who ever lived. He also made some thought-provoking statements. One I find really interesting and words from which we can all learn is this:
“I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. Twenty-six times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over again in my life. And that is why I succeed.
It’s such a revealing commentary about how to win in life and in business. It certainly applies to our auto industry where the game of marketing is lost just as many times, if not more, than it is won.
Proving marketing results is challenging for vendors. The monthly reports they supply to dealers to show their worth are not always good news. But… that isn’t necessarily bad. As long as action is taken to correct the issues creating the problem. The most important thing is having the correct data. So, if the month looks like a loss, but you have good data as to WHY, that can actually be turned into a win.
In my experience, the reason why many dealers get so confused with reports is very simple: they don’t understand them. And, to further confuse matters, there is non-uniform reporting based on variables and models that don’t match. Think of it like a crime scene. A lot of different people witness the same event, yet all have different perspectives and recollections of it. Some don’t even know what happened. While there is truth in everyone’s story… sorting out that truth and figuring out the puzzle pieces is the hard part.
Working with several different vendors means you have several different modes of reporting. It’s like comparing apples to oranges to lemons and bananas. Your marketing director, Internet director, general manager or dealer must quickly and easily compare each marketing expense one-to-one, so as to effectively and knowledgeably judge what is working for your store – and what is causing you to lose the marketing game. The problem is that many don’t have time to decipher the Rubik’s Cube of reports they’ve been given, and most don’t know how to act upon it to make a difference and win the game.
Marketing is like a big (and expensive) game of Jenga. The tower is built, thought to be solid but, as pieces are removed, it gets more and more unstable. A great player knows which pieces to strategically remove while still keeping the tower stable. Poor players watch the tower crumble before them and lament because their opponent won. And the best players take their losses and use the lessons learnt to gain strength and win in the future.
Without a workable solution in place, or a data analytics hero on staff to figure all of this out, the data ends up being pretty meaningless. Today, it’s more important than ever to know and understand how your marketing efforts perform so that you can make accurate decisions and adjust your spend accordingly for the best ROI. You simply cannot let that data slip past you into a black hole. It is vital to have a workable way to capture and decrypt it all in a format you understand and can use to make smart marketing decisions, leading to increased profitability and sales.
Given the right information, in the right format, collectively you can make decisions wisely – based on knowing rather than guessing!
There’s nothing wrong with a vendor having a bad month for your dealership. It’s the opportunity to win that matters. But you only get this opportunity if you have the right data to learn from. Then you can adjust so as to win in the future. READ MORE »
Clarivoy, a pioneer and leader in automotive marketing attribution, today announced it has been recognized as one of the 2019 10 Best Tech Startups in Columbus by the Tech Tribune.
Columbus, OH, September 12, 2018 – Clarivoy, a pioneer and leader in automotive marketing attribution, today announced it has been recognized as one of the 2019 10 Best Tech Startups in Columbus by the Tech Tribune.
Founded in 2017, The Tech Tribune delivers the latest technology news, in-depth technology articles, and insights on the hottest technology startups all over the world. The Tribune staff compiled the very best tech startups in Columbus, Ohio, by considering several factors including but not limited to:
- Revenue potential
- Leadership team
- Brand/product traction
- Competitive landscape
Additionally, all companies must be independent (un-acquired), privately owned, at most 10 years old, and have received at least one round of funding in order to qualify.
“We are very proud to be recognized by the Tech Tribune as we work hard to keep on the leading-edge of technology in our industry to best serve our clients,” said Steve White, Clarivoy CEO. “Clarivoy provides a single, complete view of how people buy cars and where to get the next sale. We are the auto industry’s most trusted source of truth for optimizing the performance of marketing campaigns by using unified, unbiased business intelligence to provide clarity that reveals which ads work, and which don’t – empowering marketers to invest in solutions, not speculation,” White continued.
Clarivoy’s Attribution API software gives dealers, vendors and marketing agencies visibility into the total number of cars each vendor and marketing source are responsible for influencing monthly. It provides continuous confidence in the value of the vendor’s offering to the dealer through an independent, trusted voice.
Clarivoy’s Identity Graph fuels the new API technology and is created using proprietary technology that can match a person to multiple devices across multiple channels. The Attribution API software delivers monthly attributable sales to Clarivoy’s growing Attribution API partners and is very simple to set up. All that is required is the installation of Clarivoy’s tracking code on all relevant website properties. Clarivoy then works with dealers to obtain sales data and deterministically matches the sales file with leads and vendor website traffic to show the vendors’ true impact on vehicle sales.
For more information, or to sign up for a product demonstration, visit: http://www.clarivoy.com
Clarivoy is a marketing technology firm specializing in unified, unbiased business intelligence. Their measurement and identity solutions reveal more about their clients’ customers, their advertising and their path to success so they can drive more sales. The company’s attribution software was named the winner of the 2016 DrivingSales Innovation Cup Award for the Most Innovative Dealership Solution of 2016. Clarivoy’s proprietary technology grants marketers superior visibility into their customers and campaigns – across all channels, all devices – online and offline. Armed with this new information, marketers can stop guessing and start knowing what is working and what is not. http://www.clarivoy.com. READ MORE »