Fresh Tracks: Tire Website Success Stories

tire tracks

Image from: tires / Shutterstock

Given the importance in tire websites on influencing a tire shopper’s path to purchase, Compete looked at best in class site performance measured by Locate a Dealer tool engagement and calculated potential ROI.

In this analysis, Compete leveraged its survey capabilities, site analytics and patented ability to track, normalize, and count unique visitors (UVs), which avoids double-counting consumers who perform the same activity more than once in a period.

Consideration

First, Compete looked at the digital touch points that guide consumers in the tire shopping process via an August 2012 survey of consumers who purchased tires within the past 6 months. The survey revealed that 24% of consumers (the largest volume), cite tire and auto service store websites as the top digital source helping them decide which tire brand to purchase.  Search engines came in 2nd place at 22% as a digital resource. Therefore, search strategy is key in influencing both sites and site engagement.

Conversion

Compete’s digital research indicates a large disparity in tire manufacturer sites’ ability to engage consumers in the Locate a Dealer tool.  Some sites appear to have cracked the code, while others have work to do. Taking the tire manufacturer sites from our previous research (blog and webinar), Compete indexed the percentage of consumers who located a dealer out of total site visitors. An index of 100 represents set average among sites included: Goodyear.com, Michelinman.com, BFGoodrich.com, Bridgestonetire.com, Firestone.com, and dunloptires.com.

locate a dealer index Jan 2013

ROI

If BF Goodrich can engage consumers in their Locate a Dealer tool at the same rate as the Best in Set site, they may have $3mm in additional annual revenue assuming that:

  • 20% of Locate a Dealer engagers go to the dealer
  • 20% of those visitors buy an average of 2 tires at an average of $100/tire

BF Goodrich monthly revenue opportunity

BF Goodrich could increase revenue $250k per month, or $3mm per year, by improving Locate a Dealer engagement rate to best in set.

Looking Ahead:
To ensure that consumers take full advantage of your website in their path to purchase:

  • Examine Best in Set website structure and search strategy to determine how that site is engaging and leveraging consumers at the highest rate.
  • Investigate whether Best in Set engagement comes at came at the expense of domain level UV decrease.
  • Analyze Incoming and Outgoing traffic to determine how consumers are getting to a particular site, and where they continue browsing afterwards.
About Leslie Griffin:
Leslie Griffin is a Client Services Associate in Compete's Automotive department, analyzing Compete data to provide marketing insights to the auto industry. Before Leslie joined Compete in 2012, she was in the digital ad sales department in the Motor Trend Automotive Group. Connect with Leslie on LinkedIn.