Message from PureCars Founder & CEO, Jeremy Anspach
About 3 weeks ago I was asked to move from Executive Chairman on our Board to CEO. I jumped at the chance knowing I can help PureCars deliver even more value to our dealers, which has been my mission since founding the company back in 2007.
Right now, every team at PureCars has been directed to do whatever it takes to help our dealer partners through this crisis.
I have asked our teams to halt all sales related activity and focus 100% on helping to deliver insights and strategies to our customers, as well as any dealer who is in need of real-time data that can help make more informed, more cost efficient ad spend decisions.
Shifts We’re Seeing Right Now
One of the biggest shifts we are seeing right now has to do with the impact of Stay-at-home orders by state, on sales volumes. States with these orders can expect 85% – 90% drops in sales. Search demand for new vehicles is still present in these states, but it too is rapidly declining.
Going into this weekend we are advising all of our dealers to reduce search spend and shift a significant portion of their ad budget to Facebook where demand is at an all time high, and extremely cost efficient impressions are available.
Our dealers are paying 50% of what normal market costs were for highly relevant, low funnel impressions. The shift from search to social is proving to be effective regardless of state-by-state orders or conditions.
We are also able to see service demand, and the impact by brand, and market by market. We are using that data to guide our dealers on the right budget allocations to balance capturing demand with store profitability.
PureCars Industry Reports
We will be publishing our findings on a macro-level on our COVID-19 Response Hub and I invite all of you to take advantage of the data we are making available, along with the generous research from many of the trusted vendors in our community.
There really is some incredible data-driven work being done by all of us in the digital ad community and it’s fantastic to see everyone focused on supporting dealers right now.
Thank You To All Dealers
Lastly, and most importantly, I want to thank you for the services you provide and the incredible contributions you make in your communities.
This country depends on safe, reliable transportation and I’m as proud as I’ve ever been to be a part of our Industry. My hope is that you, your teams and your loved ones are all safe and healthy and I know that together we will not only come out of this intact, but stronger than ever before.