1. All Credit for this presentation and the data that is shown goes to the following Conference Speakers: Geoff Ramsey of www.eMarketer.com Nick Usborne of www.forkinthehead.com Shannon Kinnard of www.ideastation.com Web Marketing Trends Update National e-Marketing Conference; March, 2000
2. Web Marketing Conference 2000 There was a common theme within the presentations of all 15 speakers at the conference: “ Lifetime Value” of a customer will drive the development of Internet Marketing. Traditional marketing models are not valid for the Internet because of declining margins. The Internet belongs to the consumer, who will use it to encourage competition, reduce costs and drive profit margins down. Marketing Strategies of successful companies will graduate from seeking ‘First Time’ sales to establishing and maintaining long-term relationships with their customers. Delivery of Customer Service will move increasingly on-line as Customer Relationship Management capabilities improve and companies become more focused on long-term customer retention. Following the new model of ‘Permission Marketing’ and CRM integration, sales and service will no longer be able to operate as separate entities. A seamless and consistent delivery of both products and after-sale service will be required to meet ever increasing customer expectations. Permission Marketing companies such as: MoneyforMail.com, CyberGold.com, WinWin.com and LifeMinders.com are scaled nationally to make their cost affordable on a “per customer” basis. Auto Dealers must develop their own locally based Permission Marketing strategies and operations. The March 20, 2000 San Jose Mercury News reported: “Eventually, every business in America will be able to reach its target customer”. Conference speakers indicated that Search Engine Optimization (moving up on the list) may require more resources than the results justify. Go to: www.searchenginewatch.com for more information. Response time to customer inquiries and emails dramatically effects sales to “leads received” ratios . Several web sites are using live ‘chat’ technology that allows dealers to ‘push’ information, such as details on a particular vehicle, through to the prospect in real time.
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4. Demographic profile comparison for average: Source: eMarketer, 2000 Age 33.0 Women 51% American Net User 35.5 49% Income $37K $58K College 22% 43% e MARKETER
5. Demographic profile comparison for average: Source: eMarketer, 2000 Age 33.0 35.0 Women 51% 41% American Net User Net Buyer 35.5 49% Income $37K $62K $58K College 22% 53% 43% e MARKETER
6. “ There is a fundamental shift in power, and it is shifting to the consumer .” – George Ferguson, WebVan e MARKETER
7. How to turn online “shoppers” into buyers: CROSS the divide! “ Shopper” “ Buyer” C.R.0.S.S. e MARKETER
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10. MARKETER e 39% of e-consumers are more likely to buy from Internet Dealers with whom they’ve already had an offline experience Source: Jupiter Communications, 2000
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12. Use of the internet as a marketing tool among medium to large companies Source: eMarketer, 2000 MARKETER e
14. eMail is the best “bang for the buck” in generating dealership web site traffic $1 - 3 Direct Mail $0.75 - 2.00 Average Cost Per Message Telemarketing $ $0.25 Banner ad $0.05 eMail Source: eMarketer, 1999 MARKETER e
15. eMail excels as a tool used for customer service, retention and relationship building MARKETER e
18. Selling products and services using the web is about creating and sustaining relationships. (Beware - it’s their network of relationships, not yours! ) Marketing the Web Way: The Best of What You Can’t Do Elsewhere
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20. Figure out what your web site users want by listening to them. How to do it...
29. Building Customer Relationships Customer Relationship Marketing - some services to help manage your ‘online relationships’: http://www.epiphany.com http://www.responsys.com http://www.guesttrack.com http://www.kana.com http://www.personify.com http://www.postcommunications.com http://www.brightware.com http://www.netperceptions.com http://www.vignette.com http://www.accucast.com Start making sense of it at: http://www.accelerating.com
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32. Protect your relationships with honesty, privacy and trust. Get third party verification... http ://www. truste .org http://www. verisign .com http ://www. bbbonline .com
47. Training … Training … Training Research by J.D. Powers and Associates shows that there is a direct relationship between dealers who are having success selling cars on the Internet and the amount of training that is provided. More training means higher closing ratios. The study showed that dealerships that don’t provide any training for their personnel average 4.3 Inernet sales per month. Dealerships that provided at least 8 hours of training averaged 9.7 sales per month, more than twice that of the untrained sales force.