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RVIA Economic Impact Study

The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.

Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .

RVDA Seminars Focus on Innovative Customer Targeting and Data

Wed Nov 8, 2017
Author: Scott Hansen

150056571218497.jpgAttendees at the RVDA Convention/Expo had their choices of education tracks and Vendor Training Plus seminars to attend on Monday, Nov. 7.

Many of them featured new and upcoming products from some of the leading aftermarket suppliers, while others discussed how to attract a younger demographic of shoppers.

Two seminars touched on technology and the innovative field of websites and customized targeting of today’s customers.

Genius Monkey and Level5 Advertising gave dealers and other RV industry attendees some insight into a future where dealerships can see the potential customers who have visited the websites and then build an ad program that can be tailored to reach out to each one.

“What if you knew what the consumer was looking at every day?” Rich Delancy with Level5 asked his crowded room of seminar attendees. “What if you saw everything they clicked on, every page they went to on your website? Even before they step into your dealership. Your computer leaves a trace everywhere you go and we can match it up and create a profile. This is why every website you now have has just become outdated.”

Jeremy Hudgens with Genius Monkey offered a few other statistics involved with the customers whose shopping starts and many times, finishes online.

• Three out of four people change their mind when researching a purchase online.
• On average, it takes 28 brand interactions for today’s shoppers to take notice of a brand.
• The attention span of today’s consumers is at 8 seconds

Both companies now offer website platforms and tools that allow the dealer to not only track and sort the analytics information of the people who visit the website, but then put advertisements in other websites the people are visiting to bring them back to their own website.

The new way of targeting customers seems creepy to the point of invading privacy, but Hudgens says this kind of advertising is not just a future idea, but one that is happening right now.

When a recent search of pizza or sandwiches has been completed, a customer can now expect to see an advertisement for that very company on social media platforms and other websites that the person frequents, such as ESPN or CNN.

This kind of targeted advertising allows the customers to see the brand the 28 needed times before the shoppers can finally take notice. Hudgens says the new marketing campaign charges its customers a cost per engagement rather than a cost per impression, meaning the dealer would only be charged when a potential customer actually clicks on the ad, since customer engagement is more important that simply seeing ads and letting them scroll by, Hudgens says.

Delancy says the technology can go even one step further. Rather than just setting up a system that can automatically track a customer and put ads in front of them wherever they go online, it also can compile data and match different profiles to show dealers who the person is and what exact pages they were looking at in the website.

This could mean that a customer who looked at 25 different units on the dealer website, but never made an inquiry can now be profiled and the phone number or email address of the customer can be sent to the dealer.

“This system allows you to profile your audience every hour of every day,” Delancy says.

The website platform has already seen increased results in those who have used Level5’s platform, Delancy says, as every one of the dealers has been up by double figures in organic searches because of the ability to automatically place the company’s information on Google searches when a customer is searching for a brand or a unit he or she previously searched on the dealer’s site.

When the competition is already fierce in a high-demand market, being able to see who the potential customers are could make a huge difference.