Digital marketing has become a crucial component for automotive companies looking to connect with their target audience, build brand awareness, and drive sales. That is why automotive marketers spend 33% of their total marketing budget on digital advertising. However, how can you know whether you are doing good with your automotive digital marketing strategy and investing enough? Orient on benchmarks!
In this article, we will delve into the key digital marketing benchmarks of the automotive industry that will equip you with the insights needed to make informed, data-driven decisions and develop strategic plans for 2024.
A well-optimized website is a digital showroom for automotive brands. Monitoring website traffic and conversion rates provides valuable insights into the effectiveness of online campaigns. Automotive benchmarking in this category includes unique visitors, page views, bounce rate, and conversion rates for specific calls-to-action.
One of the basic automotive digital benchmarks is website sessions, which are crucial for understanding user behavior, optimizing website performance, and enhancing the overall user experience. A positive trend in the automotive industry is evident as the number of sessions within this sector significantly surpasses the eCommerce average. Specifically, there are 11.2K automotive sessions, compared to less than 4K in eCommerce. You need to target outperforming this benchmark.
The automotive website views benchmark is another essential metric to consider. The automotive sector not only holds its ground but excels, boasting a substantial 25.79K website views. In stark contrast, the eCommerce average falls behind at just under 9K, emphasizing the significant lead of the automotive industry in capturing the online audience's attention.
Here's another win for automotive website owners: a noteworthy trend of achieving a lower website bounce rate compared to the eCommerce average. The benchmark car websites stand at an impressive 57.13%, outperforming the median of 60.78%.
Understanding bounce rates is paramount for website owners and digital marketers alike. It serves as a crucial lens into the effectiveness of landing pages, the relevance of content, and overall user satisfaction. By maintaining a lower bounce rate, automotive websites demonstrate their prowess in captivating and retaining the interest of online visitors.
The benchmark for organic conversion rates in the automotive industry stands at 2%. As ROI from SEO is the highest one compared to all marketing channels, the Promodo team recommends investing in automotive SEO and growing your organic conversions.
Tip: Implement the best automotive SEO practices, create compelling landing pages, and streamline the online purchase process. User-friendly websites with clear CTAs can contribute to increased conversion rates. You may also take our Free Website SEO Health Checker to find growth points for your automotive business.
PPC advertising is a cornerstone of automotive digital marketing, allowing brands to place targeted ads in front of potential customers.
The percentage of people who click on your ad after seeing it. A higher CTR indicates that your ad is resonating with your target audience.
A CTR of 8.77% for the vehicles sale benchmark indicates a robust response, showcasing effective campaign resonance with users seeking vehicle purchases. Meanwhile, the 5.91% CTR for automotive repair, service & parts reflects engagement within the segment focused on maintenance and repair needs.
CPC benchmark cars for sale is $2.08, while the CPC for automobile repair, service, and parts is slightly higher at $3.06. These metrics reflect the average amount advertisers pay for each click in these respective automotive categories. Understanding automotive CPC benchmarks is crucial for digital marketers and businesses to optimize their advertising budgets and gauge the competitiveness of keywords within these specific segments of the automotive industry.
The percentage of users who take a desired action, such as making a purchase or filling out a form, after clicking on your ad. A high conversion rate is indicative of effective ad content and targeting. The average conversion rate for dealerships stands at 5.72%, while the average conversion rate for auto repair, service, and parts is notably higher at 12.61%.
Benchmarking vehicles businesses, automotive cost of lead needs to be considered. The metric signifies the monetary investment required to acquire a potential lead in each respective segment within the automotive industry. The average cost per lead for dealerships is $42.52, while the average cost per lead for auto repair, service, and parts is $21.12.
Even though you should consider the automotive cost of lead benchmarks, you still need to consider that it varies from one automotive niche to another. For example, the lead for the tire supplier will be much cheaper. On the contrary, the auto dealer needs to be ready to pay more to gain a paying customer. The more expensive the product category is, the higher the lead cost”.
PPC Team Lead Yulia Beresneva
Tip: Regularly optimize your PPC campaigns by refining keywords, testing ad copy, and monitoring performance metrics. Utilize A/B testing to identify the most effective ad variations and maximize ROI.
57% of auto businesses use email newsletters every month. That is why automotive email marketing benchmarking is an important component of your digital marketing strategy. Benchmarks for email marketing include open rates, click-through rates, and conversion rates. Personalized and targeted email campaigns can nurture leads and encourage customer loyalty.
The open rate, at 12.6%, stands as the industry average for the automotive sector. This metric reveals the percentage of recipients who engage by opening the email. It serves as a benchmark, indicating the typical level of interest and receptiveness within the industry.
With a CTR of 1.2%, businesses can gauge the industry's average success in prompting recipients to take action within the email. This figure is vital for assessing the effectiveness of content and offers insights into what resonates with the typical automotive audience.
Maintaining a low unsubscribe rate is crucial for sustained email marketing success. At 0.2%, the automotive industry average suggests that businesses are generally meeting subscriber expectations. It's a key metric for evaluating the relevance and value perceived by the audience.
The bounce rate, indicative of undelivered emails, is a pivotal metric for email deliverability. With an automobile industry average bounce rate of 0.8%, businesses in the automotive sector demonstrate a robust infrastructure for ensuring their messages reach the intended recipients.
Tip: Segment your email lists for targeted messaging, use compelling visuals, and incorporate personalized content. Additionally, automation can streamline the process and ensure timely communication.
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