In the previous blog post on VDP optimization, we took a close look at a seemingly attractive “Test Drive” button group and how well such buttons actually convert leads.
Spoiler alert: “Test Drive” buttons don’t yield high conversion rates.
Another popular type of buttons visitors often encounter on dealers’ websites are Finance buttons. In this post, we will take a closer look at which Finance buttons have the highest chance of converting your visitors into warm leads.
Why A/B test?
If you don’t optimize your website for higher conversion rates, you’re depriving yourself of high-quality leads. VDP’s especially need constant optimization since the majority of ad traffic typically lands on a VDP.
Unless you convert costly ad traffic on your VDP’s, your marketing has a room for improvement. And for most dealers, low conversion rates are a reality – the average conversion rate for a button click on a VDP is only 0.5%.
After having numerous conversations with dealers, we noticed that they design and place critical buttons on the VDP like primarily for aesthetic purposes. They rarely run A/B tests to confirm which button drives more clicks, and make decisions based on assumption and personal preference.
When data beats opinion
To help dealers convert more leads with data, sMedia conducted the research across more than 100 dealerships in North America. To collect and analyze data, we used our VDP optimization solution called AI Lead Optimizer.
Here are our key findings which you can implement on your VDPs.
Buttons that presume a certain level of commitment have low Conversion Rate (CR). Verbiages “Apply for Financing” or “Get Financed Today” result in CR of less than 0.29%.
Less straightforward C-t-A’s that speak to exploring or self-educating perform better – a button “Special Finance Offers!” has CR of 1.75%, while a button “Explore Payments” yields CR of 1.06%.
Request a Quote Group
Buttons “Lease or Finance Quote” and “Finance or Lease Quote” have an average CR of 4.47%, while popular among dealers buttons “Inquire Now” and “CONTACT US” result in CR of 0.32% and 0.21% accordingly.
If it’s not measured, it didn’t happen
By investing in data-backed optimization, you create more value for your customers and help them purchase their dream vehicle.
When you’ve gathered quantifiable evidence that your customers prefer certain verbiage or color, you can begin the process of honing your strategies towards success, rather than deploying a campaign or design and hoping for the best.
With hard numbers backing your ideas, you can expect more walk-ins and sales coming from your website.