Regardless of how we all feel about COVID
Regardless of how we all feel about COVID, it’s become a massive part of our society in this current time. However, instead of looking at its impacts negatively, we want to focus on the strong opportunity the situation could present.This event can be an amazing catalyst to revolutionize the way the automotive industry operates. The dealers that choose to lean into this curve and adjust the way they operate will find themselves far ahead of the competition as we emerge from this crisis as a country. While automotive sales were flat, and profit outlook was less encouraging heading into this crisis, surprisingly over 70% of automotive dealers reported feeling prepared to whether the impacts of COVID. This is indicative of an industry on the cusp of becoming even more sophisticated in terms of being data and tech driven. More than ever, rather than rely on showroom visits alone, dealers are exploring ways that data can help reach the right customers at the right time.
Buyers are asking questions differently and seeking different answers about how to buy cars, how to find cars, and how to get the best deal. Let’s embrace the future. With so many buyers reentering the market as the effects of COVID continue to taper down, how do you capture these leads? How do you take commanding control over your competition? Let’s dive in.
What performs better, Facebook ads or radio ads? Do you know what the ROI is on your Google ad spend? How well do your emails convert as opposed to direct salesperson outreach? To answer these questions, you’ll need to rely on accurate data. Beyond that, effective marketing is leveraging that data to plan smarter and spend more effectively across all marketing tactics. Standard Equity Mining
On average, the sales where buyers lower their payments or sales of vehicles with positive equity potential makes up a rough, overestimated 10% of all sales. Average vehicle age in the US is rising to around 12 years. Because of this, mining these sources is an outdated, ineffective, and highly competitive lead generation strategy with poor returns. Poor Data Usage Easily the biggest issue with marketing today is the use of bad data. The world is overloaded with data. This usually results in having too much data to decipher properly or utilizing the wrong data to drive marketing. The only good data is actionable data that is easily accessible, and identifying that is key to marketing success. Remember, buyers are inundated with information and offers, so if your’s does not appeal to them specifically in a way they want to receive it, they’re going to ignore it in favor of a more customized marketing message from competitors. Creating “Experiences” For Your Leads Today’s buyers reach a purchase decision faster via personalized experiences than anything else. How do you personalize your messaging? By building off the first strategy and implementing your quality data. Use your peak selling times to push your marketing efforts. Analyze your leads to determine where they are in their buyer’s journey and reach out to them when the time is right. This means in everything from digital ads to direct mail outs. Most consumers who respond to direct mail or digital marketing ads make a purchase within 3 months when given tailored messaging. Other great strategies include things like targeted messaging, 1:1 outreach, video marketing, targeted social ads, prospecting leads based on inventory, and more. Focus On Customer Service We’ve talked about acquiring leads, both conquest and past customers. So, how do you ensure you keep them coming back? By doubling down on your customer service.
Aligning your marketing and sales efforts with your quality data is a huge focus here, as is delivering when they come into your showroom or service department. This ensures that your leads and customers receive the same excellent messaging and care regardless of their touch point. All of your efforts built on quality data go towards delivering the best customer experience.
Make it a champion day! Brandon Hardison Champion Strategies/ Shopsmart Autos
Tags: 2019 Subaru Forester Touring, 2020 BMW iX3, 2020 Chevrolet Suburban, 2020 dodge charger, 2020 EQC, 2020 Ford Super Duty, 2020 Honda Pilot, 2020 Kia Optima, 2020 Kia Soul, 2020 Lincoln Aviator, 2020 Mazda 3, 2020 Mercedes-Benz EQC
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