Sunday, June 03, 2007
Online Automotive Adspend to Reach $4.2 Billion by 2011
While qualified leads on automotive dealer and seller websites have increased dramatically since 2005, conversion rates have dropped, according to data from the National Automotive Dealers Association.
According to the data, dealerships received 319.9 unsolicited prospects per month in 2006, compared with just 227.9 per month in 2005, writes eMarketer. Of those, 52.9 were qualified leads in 2006, compared with 29.5 in 2005. However, conversion rates dropped, from 26.4 percent in 2005 to 19.2 percent in 2006.
Conversion rates from customers who arrived through third-party sites were better, at 29.6 percent in 2006.
Local online advertising by automakers, dealers and individual sellers will grow to $4.2 billion in 2011, from $2.3 billion in 2006, according to recent data from Borrell Associates.
Posted by MITCH TV at 8:25 AM