Most consumers and dealers would agree that 2020 has been a rollercoaster in more ways than one, and the wheels are just hanging on to the proverbial track. Dealers are facing some challenging headwinds: economic fears, inventory shortages, political uncertainty, and fluctuations in consumer confidence. This is a lot to unpack, so for now let’s focus on your marketing strategy: how have these headwinds influenced your investment and allocation recently? Have you adjusted your plan to spend more, spend the same, or spend less?
Stay the Course
We hope you didn’t select the last option, to spend less on marketing, and it’s not simply because we sell digital marketing and advertising solutions. When it comes to marketing and advertising, it’s important to stay the course in the face of challenging times.
Re-evaluate Budget Allocation
Maintaining your marketing spend may be easier said than done, right? Well, consider how you want to ride through these turbulent times and come out the other side of them. It’s no secret that some dealers are faring better than others, despite almost identical circumstances. For instance, some clients we surveyed are reporting record sales and record website performance, while other dealers are faced with lots of empty parking spaces on the lot. The key is to use your marketing budget more wisely, and to adopt this principle early so that you remain in the driver’s seat rather than trying to make up for lost time later.
Better Data Means Better Advertising
Regardless of your current situation, you should always be advertising—but doing it with precision. Are you using data and consumer intelligence to target in-market shoppers? Other providers may claim to use your dollars efficiently, but Dealer.com takes this to another level. We’re able to gather buying signals from 3 of 4 automotive transactions, and then use this data to make sure you’re reaching the right audiences and marketing the right vehicles. This data includes what vehicles your shoppers have researched in the past 90 days on Kelley Blue Book or Autotrader, two of the most trusted third-party research sites.
Experts Are Here for You
Staying the course during these highs and lows will also allow you and your Dealer.com Advertising Performance Manager to dive a level deeper into your strategy to further prioritize selling your vehicle inventory and fine-tuning your automotive service marketing. We are here to help drive your strategy, as much or as little as you want us to. We bring our A-game and our A-team whether you just need to run your advertising or lead your advertising team.
While market forces are challenging dealers to invest more wisely, precision advertising connects the right shopper to the right vehicle or service at the right time, every time. Find out more about how our team can help maximize your dealership’s potential, what new products are available and coming soon, and the results we deliver to dealerships like yours.