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Web 2.0 Technology Business Benefits Study by McKinsey Consulting

Companies Worldwide that Have Benefitted* from Using Select Web 2.0 Technologies, June 2009 (% of respondents)

McKinsey's Global Survey Measures the Business Effects of Web 2.0

Video Distribution, Social and Professional Networking show biggest business benefits


There are many new Web technologies that create consumer interest and may appear attractive to dealers, managers and dealer group thought leaders, but automotive marketers must keep an eye toward measurable benefits before investing time and budget. Measurable ROI is a primary priority for most automotive marketers, and given the last 18 months of retail automotive sales disasters, being able to see and prove ROI is more important than ever.

McKinsey Quarterly’s “Global Survey” polled a wide range of companies about the benefits gained from using various Web 2.0 tools, both internally and externally. The study shows that several web based technologies have been a boon for relationships among employees and coworkers, as much or more so than with customers and external business partners.

Blogs Have Maximum Business Value
From a business development and customer-related perspective, blogs have been the most useful online tool, bringing measurable benefits to 51% of the companies that responded to McKinsey's survey.

Online Video is a Sizzling Sales Tool
The second greatest level of Web 2.0 business benefit is reported as coming from Video Distribution, which was cited by 48% of the companies reporting.

Social Networking Success
Tied with Video, the use of Social and Professional Networks was reported by 48% of all companies as having significant business value... When you look at the Customer Relationship Management (CRM) benefits reported by most of the strongest Web 2.0 corporate performers, and combine those benefits with recruiting and business development, it is easy to see why Social/Professional Networking is such a hit with Corporate America. Personally, I have seen an amazing amount of jobs, deals and business transacted that was initiated within LinkedIn.com and I am certain that the car business is not unusual in that regard.

All Hail the Value of Cheap and Simple RSS Feeds!
One of the top Web 2.0 Technologies from a business benefit perspective is reported as being the not so dramatic, but highly effective and ubiquitous "Really Simple Syndication" RSS web site content feed... 45% of all companies now cite RSS as a major business tool with significant value.

Wikis, Podcasts, Content Tags and other Whiz Bang Web 2.0 Stuff
Many of the other Web 2.0 technologies that get a lot of press and are what i call "sexy" in marketing circles, like Wikis, Podcasts and the use of web site Content Tags were reported as being less useful than their hype, but were still reported as benefiting business customer relationships for between 25% and 33% of the companies surveyed.

Web 2.0 Marketing Strategy Goes Mainstream
Although I am surprised that the number is not higher, it is somewhat encouraging to see that 52% of the companies surveyed reported that Web 2.0 tools increased their marketing effectiveness and ROI... And, 43% of companies reported using Web 2.0 technology to achieve higher customer satisfaction, with 38% citing reduced marketing costs.

Web 2.0 for Improved CRM Results
At an impressive 65%, the companies that reported being in "High-Tech" or telecommunications cited the highest levels of Customer Relationship Management (CRM) benefits from the use of Web 2.0 technology. Companies in the business-to-business, legal and professional services industries reported CRM benefits from Web 2.0 technology 60% of the time...

The dealers who are using Social marketing and other forms of web 2.0 technology are quickly learning that adopting the use of these technologies does not guarantee that customer will come running... Expecting customers to adopt dealership sponsored Web 2.0 tools over night is unrealistic, however the McKinsey survey points the way towards where dealers should expect their greatest ROI from Web 2.0 based marketing practices. Among the businesses that reported the greatest level of measurable benefits from Web 2.0, 74% emphasized how important it is to integrate Web 2.0 powered technology with more traditional forms of customer engagement. Over 52% of companies experiencing success reported that marketing, promoting and advertising their Web 2.0 initiatives had enough impact on success to be considered a "Best Practice".

The McKinsey research confirms what many Automotive Digital Marketing Professionals have been observing... That Web 2.0 technologies are changing the way dealerships engage customers, communicate with them and project what becomes their dealership's brand perception in the marketplace. The next few years will be a wild ride for all of us involved in automotive digital marketing and Internet Sales Management. The ability to understand the use of web 2.0 technology to make dealership marketing strategies more cost effective is fast becoming a required skill set for General Managers, General Sales Managers and anyone responsible for driving opportunities to do business into dealerships.

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About the Automotive Digital Marketing Professional Community

The Automotive Digital Marketing (ADM) Professional Community website is built on a perpetually growing"Viral Expansion Loop" Networking Platform and serves Car Dealers, Dealership General Managers and their management teams, including Internet Sales Managers, BDC Managers, Marketing Managers, Sales Managers, Service Managers, Service Advisers, Parts Managers, Fixed Operations Directors and their teams. Launched at the beginning of January 2008, ADM has emerged as a valuable and proven resource for the entire spectrum of automotive marketing and Internet sales related professionals. Interactive Media and eCommerce Professionals at car companies (OEM) and tier 1 and 2 advertising agencies who want to see, hear and read what the best Digital and Interactive Marketing professionals in the automotive industry have to say about relevant and timely topics visit ADM on a regular basis or subscribe to the many RSS feeds and content syndication services available within the ADM community.

NETWORKING OPPORTUNITIES
Did you know there are now over 2,100 members on Automotive Digital Marketing Professional Community?
Have you reached out to connect with important ADM member contacts by asking them to be your Friend?

AUTOMOTIVE IMAGE AND PHOTO RESOURCES
Did you know that there are over 4,000 photos listed on Automotive Digital Marketing Professional Community?
And, do you know that many of these images are actually charts and graphs of the latest marketing trends and research? Did you know that many of these photos are actual ads used by dealers that worked exceptionally well? There have been over 4,000 photos uploaded and made available for use by all ADM members.

AUTOMOTIVE VIDEO FILE HOSTING
Did you know that there are more than 750 videos on Automotive Digital Marketing Professional Community?
Have you seen how many of those videos are actual examples of marketing campaigns and business processes used successfully by some of the leading and most successful dealers in America?

GET ACCESS TO AUTOMOTIVE ARTICLES AND PUBLISH YOURS
Did you know that there are over 500 blog posts on Automotive Digital Marketing Professional Community?
When was the last time you posted a blog entry and let important ADM industry professionals know what you are up to? Have you checked ADM for the latest articles published by writers who walk the talk? Members have created more than 500 blog posts within their ADM provided websites that feature online file storage and personalized blog hosting at no cost to ADM members.

SOMETIMES CONTROVERSIAL, BUT ALWAYS FASCINATING AUTOMOTIVE DISCUSSION FORUM
Did you know that there are over 500 forum topics on Automotive Digital Marketing Professional Community?
Have you checked the forum lately to see what your associates, clients and colleagues are saying?
Have you posted a forum discussion to see what other professionals have to say about the topic?

There have been over 500 discussions started and still active with ongoing comments and information being published daily within the ADM Forum.

SPECIALIZED AUTOMOTIVE PROFESSIONAL GROUPS
Did you know that there are more than 25 professional groups on Automotive Digital Marketing Professional Community?
Have you joined any groups so that you can send messages to all other group members?

EVENT CALENDAR FOR AUTOMOTIVE PROFESSIONALS
Did you know that there are Important Upcoming Automotive Digital Marketing Events listed on Automotive Digital Marketing Professional Community?
Have you posted what you or your organization considers to be important upcoming events on the ADM calendar so that other professionals will know about them, consider attending and register their intent? ADM members can create calendar events using the ADM site application that allows image and logos, links to registration pages, location maps that integrate with Google Maps, Outlook Calendar integration, invitation mailings using uploaded email lists, RSVP tracking and event management features and a whole lot more.

RADIO SPOTS AND AUTOMOTIVE PODCASTS
Did you know that there are more than 500 MP3 audio files on Automotive Digital Marketing Professional Community? Have you checked out what other automotive professionals are listening to?
Did you know that many of these MP3 files are automotive marketing and Internet sales best practice Podcasts, and examples of highly effective radio spots, along with powerful and engaging dealer website soundtracks?

JOIN ADM AND GET ACCESS TO VALUABLE RESOURCES
If you are interested in visiting and perhaps joining the Automotive Digital Marketing Professional Community, go to: http://www.AutomotiveDigitalMarketing.com

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ADM was created to serve as a resource for Automotive Internet Sales and Marketing Professionals working in the digital and interactive media space for dealers with automotive franchises, car companies and the associated suppliers and technology providers serving the auto industry. Both OEM and Dealer associates are among ADM's most prolific members.


To learn more about the Automotive Social Marketing and Reputation Management Solutions from Ralph Paglia and the ADP Digital Marketing Team, please copy and paste this sentence into the text box at the bottom of your completed online form available by clicking on the image below:

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Tags: Business Benefits Study, McKinsey Consulting, Web 2.0 Technology

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Oops... You need to stop "Lurking" on ADM and become a more genuine Automotive Professional by completing your membership registration. As a registered ADM Member, you can post comments, publish your own articles (be a star!) and start Forum discussions. Stop being an online "Peeping Tom" and JOIN ADM RIGHT NOW!

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Comment by David T. Gould on September 16, 2009 at 1:42pm
Web 2.0... More efficient... Less money... sounds like a win / win. Another great digital resource... thanks Ralph. Good Selling, DTG
Comment by Steven Moore on September 16, 2009 at 6:11am
Ralph,

Thanks for the recap of the report by McKinsey. The web 2.0 and Social Media tools are great no doubt, but the real changes will not happen until dealerships really start to listen to their VOC (voice of the customer) and take some risks and start to look at how to do business the way the customer wants and still find a way to make money. If some one wants to have fun using very basic tools put " buying car" into Twitter search and check them from time to time... comments of " buying car is like going to dentist" etc etc. Want to go deeper use Radian6 and some of the better tools and you will find more detail in the VOC in forums, blog comments etc. I think that the OEM's are doing a good job on their brand, model of car, crowdsourcing future needs and wants into models using these new tools and methods and they will get better at it with time.
However who is working on improving the purchasing experience in the fragment landscape of the dealership world? Who can and should take a leadership role in this area?

I am following the work of the Dachis Group and Altimeter Group and the Social Business model that is getting ready to transform the business world. Social Business -- incorporate social relationships into the value proposition to customers and other stakeholders. It sounds simple but it is complex in delivery as we all are finding out. Thanks again for update>>

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