Simple Marketing Tips You Need to Get More Out of Your Marketing Budget
Today, more than ever before, dealers have to decide on more outlets, options, and channels for their marketing. This is a time-consuming process that can undoubtedly be confusing at times, especially when trying to get the most out of a limited marketing budget.
What needs to be considered for dealers like you are what channels you should prioritize over others. It’s also essential to know what to seek out in a vendor and if they can really give you what they’re promising.
These are tough decisions as you look for efficient ways to spend your advertising dollars.
That’s why we put together a few key tips for getting more out of your vendor(s) and, as a result, your overall marketing budget.
Take Advantage of the Data
Because vehicle shoppers begin their car buying journey online, they’re visiting fewer dealerships before making a purchase. Due to this, proactive dealers are turning towards multi-channel marketing methods to influence shoppers long before they’ve made a decision.
The key is using data to drive your marketing. Multi or omni channel marketing operates as more channels working as one; however, even though a customer makes a trip to dealership and decides to purchase, it can still end with minimal profit.
Taking advantage of data allows you to identify your customers from the beginning—which makes it possible to influence them early, quickly, and inexpensively, so you can enjoy a higher profit margin!
Be certain that the marketing you choose is data-driven so you’re not paying for emails, letters, ads, etc. that you don’t need.
Identify Your Primary Audience
If you don’t know who your audience is, you won’t know what they want, and then you won’t efficiently market to them.
It’s critical to have a healthy balance between conquest marketing and customer loyalty marketing. This is because you must continually reach your customers with deals that will keep them coming back, but no marketing strategy will result in 100 percent customer retention! The good news is that conquest marketing has become increasingly cost effective and is an indispensable marketing tactic.
You want to make sure your dealership has found that healthy balance between marketing to previous and potential customers to secure the highest ROI from your marketing strategies.
Grab and Keep Their Attention
Remarketing plays a huge role in any marketing strategy – especially if you want to get in front of and stay in front of potential customers.
Have you ever noticed when you’re shopping on the internet and ads seem to follow you around? Utilizing a tool that makes that happen will lead to higher conversions as you’re able to serve ads to in-market shoppers who have already searched at your dealership organically.
If you use VIN Specific Paid Search, you can match a vehicle in your inventory to a shopper’s search and serve them ads that feature information that’s specific to a vehicle they’ve previously viewed.
This is such a huge differentiator as you seek to gain a competitive advantage with your marketing – without breaking the bank!
Make the Car Buying Journey Simple
Marketing should make it easier for the car buyer to make a purchase from your dealership and this happens when your marketing goes above simply seeking a response. Your marketing should move your customers from online to your dealership, quickly and efficiently.
Once a targeted consumer responds to your marketing, it’s important to make the process as simple as possible. If there isn’t a clear and easy path to the next step in their buying journey, you risk the consumer making the decision to visit a different dealer or website.
Intentionally engaging your customer and being their personal guide through each step of the process can lead your customer to a deeper level within your dealership and establish a customer loyalty that will diminish any desires to consider other dealerships.
Evaluate Your Results
If you want measurable results, then these tips are a budget-friendly and results-driven solution!
The more you focus your budget on options that can drive customers into your showroom, the better the results will be. If you’re not seeing the results you expected, this is the time to adjust your marketing towards the channels that will give the customer the best experience throughout their car buying journey.
This will lead you to get the most out of your dealership’s budget and increase in your overall profit margin.
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Tyler Wilson is the Digital Marketing Strategist at J&L Marketing. He continually creates and optimizes our digital marketing solutions so our clients grow predictable sales through a proven marketing process.