In April of 2020, Alex Flores, the General Manager of Seguin Chevrolet, spent $860 on Automotive Facebook Marketing that resulted in 10 cars sold at $86 per car sold
Below you will find a screenshot that breaks down the four KPIs that are tracked using TECOBI, combined with Facebook advertisements: Cost Per Lead, Cost Per Appointment, Cost Per Show, Cost Per Sold. We take data from Facebook’s Ads API and overlay DMS and appointment data. This gives us four KPIs that allow us to know exactly what the Cost Per Car Sold is and what the ROI was from Facebook advertising.
In the past it was difficult to measure your ROI from Automotive Facebook Advertising – not with TECOBI’s innovative text-messaging software combined with Facebook’s Lead Generation ads. Understanding your ROI is key to making any form of advertising work. The chart below shows how long it took to drive down the Cost Per Car Sold to $86 from those leads.
Most dealers are busy fighting over the bottom of the funnel and it has eroded their gross profit margins. Facebook gives you a way to reach people and push them into the market. This will require extensive follow up. Traditional CRMs are just not capable of this. Most dealerships are lucky to get a full week of follow up on their leads. As you can see from the chart below, there were three cars sold in December 2020 from leads generated seven months earlier in April/May 2020.
This type of extensive follow up is made possible by using Hybrid Intelligence and Text Message Communication. We have a team of people and AI working together to efficiently process and follow up with leads. When done properly, Facebook leads result in one of the lowest Cost Per Car Sold averages you can have in the car business. They also have the highest gross profit margins because the customers are not out shopping every dealership in town.