The Q4 2023 benchmarking report for UK car buying companies has just been published. Learn how the top 11 UK car buying companies perform across the digital space.
The latest Q4 2023 benchmarking report for UK car buying companies has just been published. It covers the largest 11 national car buying companies, including Big Motoring World, Cargiant, CarSupermarket.com, Motorpoint, Carcraft, Cazoo, CarShop, cinch, Perrys Motor Sales and heycar.
The research gives an inside track on who is winning the biggest share of voice online, and quantifies the gaps, risks and missed opportunities for other car buying companies to win brand exposure, drive online views, and ultimately yield car purchase enquiries. The report highlights quick wins that will improve enquiries from your online strategy and identifies the barriers that may be reducing your site’s ability to optimise digital performance.
To see a preview and contents page of the Q4 report, click here. To get a copy of the full report and the key takeaways, please complete the enquiry form or schedule a call.
Q4 2023 WINNERS LEADERBOARD
For a glance into just 6 of the metrics we evaluated these top 12 car buying companies on, check out our quick-look table below; Continue reading for further detail on this quarter's best and poorest-performing UK car buying companies or request a copy of the report for the full review.
What The Industry Research Report Covers
The 70+ pages of research benchmarks each retailer based on 50+ metrics and indicators of successful digital strategy, including organic visibility, domain authority, paid media ads, conversion performance, technical performance, site speed, universal search, content, social ads, accessibility, and mobile performance.
Driving Optimal ROAS from Paid Media Channels
Some of the leading players in the space are high spenders on paid media channels such as Google, Bing & Facebook - but have a poor or sub-optimal conversion improvement strategy. Without an optimised, sophisticated conversion strategy that maximises the conversion rate, the return on investment is unsustainable or will underperform. Scaling spend on paid media is not achievable unless the conversion rate delivers optimal performance in the sector. Some in the space have paid media spend levels from 30k+ per month but dedicate minimal resources and budgets to conversion testing. Given the cost per clicks on ad networks will continue to rise, we recommend spending at least 10% of your paid media budget on ongoing conversion optimisation testing schedules to ensure your paid media ROI maintains long-term viability, competitive advantage, and sustainability.
Technical Website Compliance
Savvy digital marketers know that having a technically sound website is an essential component of a successful fully integrated digital strategy - plus a site capable of maximising conversion performance. For car buying companies, having an easy-to-navigate site is essential for drivers needing to enquire about buying options and particular care should be taken of the pathways to key pages, such as contact forms or 'request a call' options.
In our last report, CarShop had 422 4xx errors. This quarter, its figure has slightly dropped to 411. Cinch has dramatically decreased its 4xx errors, too, from 305 to 50. Cargiant will need to make improvements to its 4xx errors, as this quarter saw 418.
Site Speed & Conversion Rate Performance
When 62% of consumers are less likely to convert if they have a negative mobile site experience, ensuring that your site is quick and easy to load makes a significant improvement on your overall conversion rates. Car buying companies need to ensure their customers have a positive experience on their site or they may just move to another company – especially if specific times have been promise, e.g. a quote in only 30 seconds.
Carcraft still has a 0% mobile speed score. This car buying company needs to make changes to increase this figure for the next quarter, such as compressing and optimising images.
Building Competitive Advantage with Domain Authority
Domain authority is an essential metric for measuring the effectiveness of SEO performance and helps create a reliable overall gauge of how effective your site is at achieving organic traffic, i.e. ‘free’ traffic that isn’t gained through sponsored ads. Car buying brands should be continually pushing to improve their DA by sharing great quality content about their products and what makes/models they have in stock.
A ‘good’ DA really comes down to how your competitors are performing, however it’s generally considered average between 40 and 50, good between 50 and 60, and excellent above 60. In this quarter, Motors.co.uk takes the lead with 68 DA, and it also has the highest number of backlinks. Four car buying companies sit below 40, so they could also increase their backlinks opportunities to help increase their ratings.
Organic Performance – Mobile & Desktop
A strong organic performance is strategically important as it ensures your site ranks above competitors for key, transactional keywords. When 93% of your customers won’t go past the first page of Google, your absence or lack of targeting for essential keywords will cost you conversions. With the increase in electric vehicles over the past few years, now would be a great time to push the ‘out with the old, in with the new’ narrative.
For the last report, we noted that heycar saw the biggest loss of 32%. In this quarter, heycar has seen a 34% loss. For last quarter and this quarter, heycar has landed in the bottom three for longtail keyword performance, so can look at increasing keyword usage to help with organic traffic.
Universal Search Opportunity
Google Universal Search Results is an evolving opportunity to make your pages visible on a SERP (Search Engine Results Page). Universal results often appear before traditional listings and are eye-catching for users. Universal search results refer to rankings on a SERP that are not the traditional ‘blue line’ Google link, and a retailer can appear for universal search results without being strong in standard rankings. Car-buying brands should be utilising all universal search features as potential customers will be interested to see how previous customers have found their experience via 'reviews', 'FAQs' and 'people also ask', and may also be looking for information about specific models they are interested in.
In the previous quarter, heycar had the highest visibility on ‘FAQs’ and ‘reviews’. For this quarter, it’s just still at number one for both. It’s surprising to see eight of the car buying companies have zero reviews, given that they’re in the customer service space. Optimising for this result type could help with their overall universal search reach.
The Longtail Keyword Opportunity
Longtail keywords are often considered high intent and potentially more likely to convert as a searcher is being more specific. Optimising for longtail keywords also puts your content strategy in a strong position to rank for retailer new search terms as they enter Google’s index. There are many longtail keyword options car buying companies could be using such as ‘car buyers near me’, 'best used vehicles near me' and ‘where to sell my car’.
For this quarter, Carcraft had the fewest longtail keywords with a total of 158. Carsupermarket.com came second 278 longtail keywords. Motors.co.uk has outperformed all car buying companies with a total of 32,462 longtail keywords.
With the number of Facebook users in the United Kingdom (UK) forecast to hit over 42 million users by 2022, it is not surprising that companies have jumped at the opportunity to advertise on the social media platform. Facebook’s UK digital advertising revenue has been estimated to have breached 2.6b GB pounds in 2019.
Heycar includes an image of a car with each Facebook ad. Heycar can make improvements by limiting repetition for the written content to build brand personality and include a logo in the visuals. It’s positive to see a combination an infographic combined with text to make the content more visually striking.
Top Social Shares & Content
When it comes to social media and on-site content strategies, it is important to release content that has a longer shelf life. An article is considered 'Evergreen' if it has maintained its relevancy to an audience for longer. It's great for your retailer engagement, but great for Google too, who will recognise content which achieves traffic over a long period of time. Social Media could be especially useful for sharing information about their different buying options.
Motors.co.uk has the largest amount of Facebook Likes, while Cazoo has the largest Instagram following. Perrys has the largest total engagement, at 22,063, while Big Motoring World scores the lowest at 71. It could increase this figure by publicly responding to comments on Facebook.
Website Readability & Accessibility
20% of people in the UK have a disability – 2 million of which are people living with sight loss. In addition, 1 in 12 men and 1 in 200 women have some degree of colour vision deficiency. When websites are not designed to meet these needs, retailers lose customer interest as they turn elsewhere. All car-buying companies need to ensure their website is accessible for all customers looking to buy (or sell) vehicles.
Last quarter, CarSupermarket.com saw a reduction in contrast errors. In this quarter, this car buying company has seen in increase in this, with a score of 171. It also saw an increase in alerts with a total of 138, which we hope to see decrease next quarter.
GET THE FULL 70-PAGE Q4 2023 REPORT
To get a copy of the full report, please complete the enquiry form. If you want to talk to us about accelerating your digital performance, please call us on 01543 410014 or schedule a call with Mike Movassaghi.