Before consumers had the option to conveniently browse online for units, their path to purchase was straightforward. However, the online research and digital retailing tools available today have created a more nonlinear shopping experience for the average consumer. Since fewer consumers are starting their path to purchase in the dealership, it might feel like you have less insight into your customer sales journey; However, when consumers spend time online shopping for units, they leave a digital footprint that you can use to your advantage. Keep reading as Equipment Trader explains why tracking your customers’ purchase journey matters. Plus, we’re discussing the takeaways.
Why Tracking Your Customers’ Purchase Journey Matters
Today’s buyers encounter up to 24 digital touchpoints on their purchase journey – each providing various pieces of information about a unit. There are a variety of digital tools to help figure out which of those touchpoints have driven the most leads for your dealership. This process of identifying the multiple encounters that contribute to lead generation is called “attribution analysis” – or simply, “attribution” – and it is an essential element of lead intelligence that should guide a dealer’s advertising strategies.
Tracking attribution data will help you understand which touchpoints are sending you the highest quantity leads, but also which sources are providing you with the highest quality leads. This knowledge allows you to make more informed decisions when allocating your marketing dollars in pursuit of ultimately moving more units.
Two Important Takeaways To Consider
1. You Can Learn How To Most Effectively Reach and Connect With Consumers
Having an online presence is extremely important when competing in the online market, especially as your consumers are significantly relying on the Internet to guide their choices. By identifying your consumers and their shopping patterns, including which online channels consistently drive qualified buyers to your site, you’ll know which strategies are most effective and cost-efficient for extending your reach and establishing stronger connections. Additionally, you can use this valuable data to better inform your sales conversations by incorporating information from the consumer’s path to purchase into your nurture conversations.
2. You’ll More Easily Identify What’s Not Working In Your Marketing Mix
Tracking your buyer’s sales journey is not only helpful for learning what is working, but it can also reveal what needs to be changed or omitted in your current strategy, and which services are not providing value and no longer deserve your attention. This information also helps you get to know your customers and the paths they are taking to find your equipment, helping you to produce the best possible outcome for your dealership and customers.
Understanding and examining your customers’ journey can be a true competitive advantage for equipment dealerships. If your dealership is missing out on that valuable lead intelligence, make sure to check out Equipment Trader’s suite of business intelligence tools. Until then, explore more sales advice and opportunities on our blog.
