Q3 Over Q3 SEM Conversion Benchmarks for BMW Dealers
With the 3rd quarter of 2018 recently behind us, there’s no better time for a year-over-year comparison vs. 2017.
By many dealers’ standards, 2017 was a record sales volume year across the industry. So, as we head into the all-important 4th quarter, we thought it would be particularly interesting to see how 2018’s 3rd quarter compares to that of 2017. For this comparison, we’ll be looking specifically at Authorized BMW Center data, which is a segment where we have substantial data resources and expertise.
Without any further ado, below is the year over year benchmark compilation for BMW dealers. As usual, we focus on SEM — as that’s where the vast majority of dealers’ budgets are spent — and conversion metics (cost, conversion rate, cost per conversion).
BMW Dealer SEM Year Over Year 3rd Quarter Results:
Marketing Channel: SEM.
Target: In-market BMW intenders and owners.
Time period: July – September, 2018 vs. July – September, 2017.
Geography: New York, Florida, California, Virginia, New Jersey, Connecticut and Washington, DC
- Conversions +11.65%
- Conversion rate +25%
- Cost per Conversion -9.75%
- Visibility (Search Impression Share): +7.56%
What to do with this BMW Benchmark Information?
As you can probably infer, step one would be to assess how your BMW dealership compares to these benchmarks. Your exact numbers may be different, but at minimum, you want to ensure your conversions, conversion rate, cost per conversion and visibility (search impression share) all improve year over year.
If these metrics haven’t all improved for your BMW dealership, learn why. Have costs in the market increased? Has your budget decreased? Or, are your ads simply converting like they once were?
All of these questions — or more — could hold the reasons why your YoY Q3 didn’t show improvement. Ask, and you will be on the path to growth.
Check back for more Q3 over Q3 conversion benchmark information soon.