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From the moment original equipment manufacturers (OEMs) began investing in web properties, marketers have used data to attempt to prove to executives that digital dollars deliver a return on investment (ROI).
From consideration stage conquests, build-tool utilizations, seasonal traffic lift, call-to-action conversions and hand-raisers, all the way to the tried-and-true “clicks,” key performance indicators (KPIs) are often laced with jargon. But they can sway entire budgets if they show a competitive advantage for a campaign.
The auto sector will continue to fine-tune its KPIs, drilling deeper into the information it collects and layering third-party data over it in new—often proprietary—ways to better achieve results. And once industry professionals ask and analyze the proper questions, trends—like the superiority of digital video streaming for viewer recall—will emerge.
This report offers a basic primer on the influence of KPIs in the auto industry and a brief history of how current KPIs came to be influential. It also discusses ways automakers are making near-term investments to maximize the utility of these numbers.
For decades, the auto industry relied on sales figures as the ultimate measure of success or failure. That applied to nearly every department, including marketing.
The rise of digital marketing has significantly complicated the science of success measurement. Now, nearly all OEM or agency employees can recite dozens of KPIs by which they are judged.
A single KPI can be the difference between the extension of a project and its cancellation. These measurements drive budgets, planning and strategy—and agencies have won and lost entire accounts on the backs of poor KPIs.
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