Tony Carroll, Senior Automotive Strategist at Google, returns to The Walk Around to discuss how Google products like Search and Analytics can help dealers increase Fixed Ops market share. A 20-year veteran of the Automotive industry, Tony started his career in retail. With a decade of experience with an OEM before joining Google five years ago, Tony understands many of the challenges and opportunities dealers consider as they grow their businesses. He joins Nick Funsch, Director, ACE/F&I Specialist & Associate Development, for a candid chat about why dealers should be investing in Google Search and measuring their results closely.
Currently, there are over 280 million vehicles on the road (and all-time high) and the average age of those vehicles is now 11.9 years (another all-time high). As vehicles age, so does the demand for parts and service.
But how are consumers finding what they need to maintain their vehicles? Current metrics report that 43% of vehicle owners who purchased parts and service called directly from Google searches. Another important metric to consider is the amount of parts and service business being both captured and lost by dealers. In a $350 billion industry, only 30% of the business is being captured by dealers. The rest is being won by independents.
What can dealers do to increase market share and boost business in their service drives? Tony recommends the following:
Advertise on Google Search
Start with radius targeting around your store, keeping your business local
Measure spend vs results and other key metrics
Calculate ROI and allocate budget accordingly
Over time, dealers can also expand their radius, use Google’s machine learning to optimize bidding, and integrate video and YouTube into their advertising strategies.
Google’s goal is to help dealers drive profitability and service their communities. Tony leaves us with something to consider: If a competitor stood at the counter of your service drive and poached your customers, you would likely be upset. According to Tony, that is what is happening online in today’s marketplace. Therefore, he recommends that dealers take the necessary steps to win and retain Fixed Ops customers via search and other Google tools.