If you’re trying to run a successful dealership, you want one thing crystal clear at all times: where you stand. Are you outperforming the competition or falling behind?
Peer Benchmarking answers those questions with clear metrics and graphs showing how your dealership compares to your peers.
What Is Peer Benchmarking?
Peer Benchmarking is a dashboard feature in your CMS Admin Panel that compares your dealership’s online performance to nearby competitors. It pulls competitors from localized geographical data to create a group of peers specific to your industry.
How the comparison data is displayed:
That means no apples-to-oranges comparisons. Instead, you’ll see how your business stacks up against real players in your market.
What’s in the Peer Benchmarking Dashboard?
Peer Benchmarking avoids irrelevant stats and complex tables, presenting information in clear numbers. Performance figures help you quickly gauge your standings. Its reliability stems from specificity. Let’s examine the data points in the report and how we interpret them.
Peer Groups
Peer groups aren’t made up of random businesses from across the country. They’re based on real competitors in your geographic area and industry. This ensures the comparisons you’re seeing are both relevant and actionable.
Example: If your business is in Missouri and specializes in specialty power equipment, comparing it to a showroom in Florida that sells luxury yachts wouldn’t be helpful. Peer Benchmarking eliminates those mismatches, keeping the focus on your local competitors.
Website Visitors
Measure how your overall traffic compares to your peers. You can hover over any section of the Visitors Trend graph to see the number of unique visitors on your website versus your peers in a specific month.
VDP Views
Are shoppers looking at your Vehicle Detail Pages as much or more than your peers? This stat shows how effectively you’re driving traffic to your unit listings.
Leads Generated
Learn how your lead count measures up to others in your market.
Detailed Inventory
Understand how your inventory holds its own against the competition in terms of images, pricing, and how long it’s been on your lot.
Why Does Peer Benchmarking Matter?
Peer Benchmarking gives you clarity. It takes the guesswork out of evaluating your website traffic, inventory views, and lead generation by showing how you’re performing compared to others in your space. You get a detailed look at strengths to build on and gaps to address.
Peer Benchmarking is part of our larger commitment to provide data-driven tools that help you laser-focus on your business operations and goals. Anytime, day or night, you can pull up your Peer Benchmarking dashboard. Whether it’s a quick check-in or a deep analysis session, the insights are always there, waiting.
If you’re a Dealer Spike customer and want to see how you measure up, head to the Performance tab in your CMS Admin Panel.
Need a quick tutorial on the Peer Benchmarking dashboard? Check out our Help Center guide for Dealer Spike customers!
Our Commitment to Delivering Ongoing Customer Value
Peer Benchmarking is one of many dashboards in your Content Management System (CMS) that we’ve rolled out (or will roll out soon) to provide you with a clear picture of your dealership’s digital performance and help you make informed strategic decisions about your business. Discover the latest and upcoming innovative solutions.