NEW YORK — Auto dealers will soon be able to gain full attribution on their marketing spend thanks to a new agreement between Polk (recently acquired by IHS) and HookLogic.
Customers of HookLogic’s AutoHook Suite of Solutions will now receive monthly Purchase Analysis Reports — inclusive of Polk registration information — showing not only direct sales attributed to HookLogic’s incentivized walk-ins, but also identifying lost opportunities.
“Purchase Analysis Reports provide auto dealers and OEMs the evidence they need for improved business decisions,” said Brad Korner, vice president, automotive retail and media, at IHS Automotive. “Armed with this information, dealers and OEM representatives can determine, on a monthly basis, exactly what is performing well and identify areas where they need to improve.”
- Overall Walk-in with Incentive Buy Rate. The percentage of customers incentivized by HookLogic who made a purchase within 90 days;
- Dealer Buy Rate Also known as Show to Close;
- Dealer Lost Opportunity. The customers HookLogic incentivized to visit a specific dealership who ended up buying from another dealer.
“We’re pleased that our relationship with Polk (now IHS Automotive) enables dealers to measure precisely the effect HookLogic is having,” said David Metter, HookLogic President, Automotive. “There has always been an attribution model in travel and retail, but not in automotive. Having the ability to attribute a showroom visit and a sale back to a website visitor and lead gives our customers great power.
“Now it’s easy to compare their business to that of a control group: nearby dealers who don’t use HookLogic.”
Nearly 1,000 HookLogic customers already have access to this unique solution, and given the response rates during the initial reporting period, the companies believe there is significant opportunity to share the solution with other dealers and OEMs in the marketplace.