CDK's purchase of Auto/Mate may create a major disruption in the dealer management system (DMS) industry. Here is our take. DOWNLOAD
For years, many social media "gurus" have been talking about the power of social media being its popularity. It's huge and getting huger. People spend so much time on it. Dealers need to as well, right?
While that's partially true, it's really not in the size or reach of social media that the real benefit can be garnered. That's the catalyst, not the goal. The real goal is achieved by taking advantage of the huge amounts of data that social media's popularity gives it. Sites like Facebook know more about us than just about anyone, even Google. If it wasn't for the NSA, Facebook would probably hold the crown for knowing the most about our personal lives.
It isn't just in what we tell them, either. Social media sites have purchased or otherwise acquired vast amounts of data from companies like Datalogix, a Polk partner. This data, which can help dealers target people who are intending to make a purchase of a particular make or model in the near future, can be very beneficial for putting the right message in front of the right people at the right time.
As you craft your social media strategy, be sure to focus on the things that can make your targeting smaller, not larger. While there is definitely benefit in reaching as many locals as possible with certain messages, it's in the smallness of the data targeting that dealers can really take advantage of what Facebook and other social media sites have to offer.