April 15, 2019
Driven Data Classified Lead Quality Index – 2019 First Quarter Results
Previously the automotive industry has been unable to measure the quality of the leads each classified site provides their dealer partners. Driven Data is the first company to solve this problem by offering a clear report that measures their performance with aggregated statistics. These insights help dealers evaluate the gross profit and lead conversion performance levels each deliver relative to each other.
The Classified Lead Quality Index highlights the performance metrics on the leads generated by the top automotive classified providers for their dealership partners. This amount of lead conversion data was not easily available to the industry and will enable focused innovations to improve performance. Additionally, the aggregate data serves as a benchmark for dealerships along with their sales and marketing partners.
To view the 2019 Q1 Classified Lead Quality Index: Download
First Quarter Highlights compared to Full-Year 2018
- Average gross profit up $180 to $1442 per sale (+14.3%) and up $10.53 per lead to $66.17 (+18.9%)
- Lead conversion up .2% to 4.6%
- Percentage of leads contacted up 5%, however percentage of shown appointments down 4%.
- New vehicle leads down 7%, used down 3%
Each site has clear strengths and challenges delivering value to their dealership customers. Here are the highlights versus their 2018 results.
Used Vehicle Lead Performance Highlights – Q1 compared to Full-Year 2018
- Cars.com up $314 in average gross profit per sale to $1797 (+21.2%) or $88.62 per lead
- CarGurus.com up $213 in average gross profit per sale to $1690 (+14.4%) or $95.81 per lead
- TrueCar.com up $86 in average gross profit per sale to $1305 (+7.1%) or $75.73 per lead
- Edmunds down $75 in average gross profit per sale to $1715 (-4.2%) or $94.54 per lead
- Autotrader.com down $155 in average gross profit per sale to $1367 (-10.2%) or $98.01 per lead
New Vehicle Lead Performance Highlights – Q1 compared to Full-Year 2018
- CarGurus.com up $589 in average gross profit per sale to $1246 (+89.6%) or $99.04 per lead
- TrueCar.com up $322 in average gross profit per sale to $989 (+48.3%) or $22.65 per lead
- Edmunds down $130 in average gross profit per sale to $727 (-15.2%) or $34.41 per lead
- Cars.com down $190 in average gross profit per sale to $846 (-18.4%) or $39.88 per lead
- Autotrader.com down $464 in average gross profit per sale to $1246 (-27.1%) or $24.62 per lead
At Driven Data we help dealerships maximize their success. Our dealership partners initially asked us for aggregated performance of their classified site providers while maintaining dealership data anonymity. After hearing the same questions each month, we developed the analytics to provide the answers dealers were seeking. We published 2018 data last month representing the first time this information has been available for the automotive community. The report is based on 365k+ leads and 16.2k+ sales from 2018 through Q1 of 2019
We are excited to continue to offer this report each quarter to the public as well as other insights from Driven Data.
About Driven Data
Driven Data is the first customer data platform built specifically for the automotive industry. The platform provides enterprise analytics for dealerships leveraging the most comprehensive roster of automotive specific integrations partners including CRM, DMS, inventory, marketing and websites.
This data set enables Driven Data to forecast dealership sales 6 months out, predict who is in market for sales and who is ready for service. These first party audiences are available directly in both Facebook and Google product marketing suites providing partners innovative ways to improve efficiencies and optimize spending when marketing costs are at all-time highs.
To learn more about Driven Data, please contact us
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Published at Mon, 15 Apr 2019 00:00:00 +0000