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The Cobalt Group, Together With Yahoo! and R. L. Polk & Co. Unveil the 2007 Dealer eBusiness Performance Study at J.D. Power Internet Roundtable

Posted on: Thursday, 18 October 2007, 12:00 CDT

The Cobalt Group, together with Yahoo! and R. L. Polk & Co. proudly present the 2007 Dealer eBusiness Performance Study, the largest research initiative in the automotive industry.

Findings from the study include dealership lead handling and Internet sales performance and how online resources like search and consumer generated media influence shopping behavior.

The study incorporates a variety of research methods including:

Two Internet-based surveys: one of 550 vehicle shoppers and purchasers, and one of 1,000 car purchasers

Analysis of over 1 million leads from 1,140 dealerships representing 35 brands to assess sales rates and time to close

eMystery shop campaign of over 2,100 dealers encompassing 20 brands

Onsite interviews with 20 top performing dealers

A sequel to Cobalt's 2005 Industry and Dealership eBusiness Performance Study, this analysis takes a closer look at car shopping from the consumers' perspective to understand the new buying influences that impact how they shop and pre-select dealerships, why they switch brands, the rising influence of online dealership reviews and the value of transparency in interaction with dealership sales staffs. Below is a sample of the results and the takeaways this study provides:

The Results

88% of consumers use the Internet for research prior to visiting a dealership

Over 30% of Internet leads sent to dealers go unanswered

21% of purchasers switched dealerships based on consumer reviews they read

Of those that purchased a different brand, 23% did so because of poor dealer interaction

The Impact

Online "location" and brand is as important as the "brick and mortar" dealership

Dealers can increase gross by implementing email response procedures

Positive consumer reviews can help attract and retain customers

Investing in sales staff and cultivating consumer reviews can increase gross

Upcoming Webinars

Want to learn more? Please join us at an upcoming webinar as we review the findings shared at the 2007 J.D. Power Internet Roundtable and the findings of other related studies.

To register for an upcoming webinar or to download the complete study please visit: www.cobaltgroupresearch.com

About The Cobalt Group

The Cobalt Group is North America's leading provider of automotive marketing services. For over twelve years, Cobalt's exclusive mission has been to help automobile dealers and manufacturers increase their retailing effectiveness and profits. Cobalt provides marketing services to more than half the automotive dealerships in the United States, Canada and Mexico and is endorsed by more than two-thirds of the world's major automotive manufacturers. Cobalt is endorsed by the American International Automobile Dealers Association (AIADA).

About Yahoo!

Yahoo! Inc. is a leading global Internet brand and one of the most trafficked Internet destinations worldwide. Yahoo! is focused on powering its communities of users, advertisers, publishers, and developers by creating indispensable experiences built on trust. Yahoo! is headquartered in Sunnyvale, California. For more information, visit pressroom.yahoo.com or the company's blog, Yodel Anecdotal.

About R. L. Polk & Co.

R. L. Polk & Co. is the premier provider of automotive information and marketing solutions. Polk collects and interprets global data, and provides extensive automotive business expertise to help customers understand their market position, identify trends, build brand loyalty, conquest new business and gain a competitive advantage. Polk helps automotive manufacturers and dealers, automotive aftermarket companies, finance and insurance companies, advertising agencies, media companies, consulting organizations, government agencies and market research firms make good business decisions. A privately held global firm, Polk is based in Southfield, Mich. with operations in Australia, Canada, China, France, Germany, Japan, Spain, the United Kingdom and the United States. For more information, please visit www.polk.com.

Source: Business Wire

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