Auto Jargon
OEMs (i.e., Ford, Honda, Toyota, etc.)
What is Tier 1?
Profit made directly from car
What is front-end profit?
We spend money on direct mail.
What is "Did you know the open rate is .5% to 3%?
2 million fewer vehicles were built in the last 3 years.
What is "Can we help conquest your competitor's service customers?"
2x ROI
What is Third Party Math?
Regionals (i.e., Carolina Honda Dealer, Southeast Toyota, etc.)
What is Tier 2
Revenue made in the finance department
What is back-end profit?
We use manufacturer's approved digital vendors.
What is "Are they creating a customized strategy? Would you like a customized strategy?
2/3 of the dealership profits.
What is the Service/Parts Department?
Highest closing rate, highest return, and best conversion rate
What is a lead from the dealer's website directly?
Local Auto Dealers
What is Tier 1?
$800 - $1,200
What is the front-end gross profit for new domestic and foreign cars?
We spend money on cable.
What is "Did you know Cable is in only 30% of homes so 70% would not see your commercials?"
Dealer needs more technicians
What is a recruiting campaign?
Competing Dealers selling cars in your backyard
What is pump-in?
RO
What is Service Repair Order?
No one watches TV anymore. It's all gone to digital.
What is "Local broadcast news is still being watched. Let me bring you a customized plan on how our local programming and OTT can help you sell more cars."
Profit dealer makes in the Finance Office by selling a service contract.
What is back-end gross?
$10k - $20k/month spend on lead source
What is "The average spend for third party leads?"
Dealers selling cars out of their PMA
What is pump out?
45% - 55%
What is the range for Gross Profits on RO?
I've already spent my Co-Op Dollars.
What is "Most dealers spend 2x to 3x more than co-op, is that what you do as well?"
Complimentary baby seat anchoring inspection
What is creative campaign for a dealer's service department?
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What is the number of checkpoints people make before visiting the dealers Vehicle Display Page (VDP)?