Dealers Marketing Network
The Declining Value of Social Marketing
Excerpts from article on iMedia Connection:
A recent study by NextStage sifted through input from 1,700 companies who used social marketing in 2013, The results have shown some interesting outcomes and perceptions that will impact what companies do going forward.
Just to be clear, social marketing means creating a social presence and using that social presence to drive conversions. Conversions cover everything from loyalty to acquisition to retention to customer service metrics to satisfaction to truly strange recency calculations linking site to social to mobile to...
10.5 percent are going to “do something else”
21% said they are “dissatisfied with social marketing “
54.75% are stepping back and waiting. They are not walking away but inconsistent results have them waiting for the right campaign
Summary
Better than half the businesses interviewed admitted the decision was still out on social marketing's value. They are prepared to sit it out in 2014 rather than continue to invest. Less than half the total businesses contacted are using social as part of a strategic plan (i.e., it's showing up in spreadsheets as expenses only).
2014 may or may not be a make-or-break year for social, but with more than 50 percent having a "let's wait" attitude, social marketing seems to be losing its pull.
Read more at http://www.imediaconnection.com/content/35711.asp?imcid=nl#singleview
My thoughts as it impacts auto dealers
As far as the auto retailing sector goes I have spoken to many dealers who have tried the social marketing channels. They chased likes on Facebook, created hundreds of tweets, posted lots of blogs and spent thousands on keyword purchases with very few of them getting any tangible results.
A number of the companies created to push the "social agenda" for dealers are struggling and dealers are discovering their $1,500 to $3,000 a month is better spent in other areas. I suggest dealers focus on building their brand in their own backyard and better connect with the local market opportunities that are out there waiting for them. 
Have a great 2014.
Dealers Marketing Network
The Declining Value of Social Marketing
Excerpts from article on iMedia Connection:
A recent study by NextStage sifted through input from 1,700 companies who used social marketing in 2013, The results have shown some interesting outcomes and perceptions that will impact what companies do going forward.
Just to be clear, social marketing means creating a social presence and using that social presence to drive conversions. Conversions cover everything from loyalty to acquisition to retention to customer service metrics to satisfaction to truly strange recency calculations linking site to social to mobile to...
10.5 percent are going to “do something else”
21% said they are “dissatisfied with social marketing “
54.75% are stepping back and waiting. They are not walking away but inconsistent results have them waiting for the right campaign
Summary
Better than half the businesses interviewed admitted the decision was still out on social marketing's value. They are prepared to sit it out in 2014 rather than continue to invest. Less than half the total businesses contacted are using social as part of a strategic plan (i.e., it's showing up in spreadsheets as expenses only).
2014 may or may not be a make-or-break year for social, but with more than 50 percent having a "let's wait" attitude, social marketing seems to be losing its pull.
Read more at http://www.imediaconnection.com/content/35711.asp?imcid=nl#singleview
My thoughts as it impacts auto dealers
As far as the auto retailing sector goes I have spoken to many dealers who have tried the social marketing channels. They chased likes on Facebook, created hundreds of tweets, posted lots of blogs and spent thousands on keyword purchases with very few of them getting any tangible results.
A number of the companies created to push the "social agenda" for dealers are struggling and dealers are discovering their $1,500 to $3,000 a month is better spent in other areas. I suggest dealers focus on building their brand in their own backyard and better connect with the local market opportunities that are out there waiting for them.
Have a great 2014.
1 Comment
Woody Butts Chevrolet
If it's anything like what I am seeing here locally, I don't think folks are looking at this clearly enough. Of course the thought is, "can I make a sale" doing this. But it seems to me that we aren't considering whether we want to be of service socially, and build a long term relationship. As long as we think in terms of instant gratification, we will never move past where we are. I think we cloud our own judgement by not sitting down and talking this out rationally with the whole team. To me it's no different than that salesperson who tells me, "I sent out those Christmas cards one time and nothing happened, so I don't do that anymore".
Dealers Marketing Network
It's Not About Reviews
Over the last few years the retail landscape has shifted towards empowerment of consumers. They have more choices than ever for virtually any product or service they want to buy. It’s also never been easier to compare prices, level of service, and of course the timeliness of delivery or services they want.
We have also seen the scramble for businesses to look good online, and that has led to some less than honest business practices. Both Google and Edmunds removed hundreds if not thousands of car dealer reviews found to be either fraudulent or suspect. Edmunds went further and sued the company they found responsible for posting those reviews and violating their terms of service.
Manufacturers and dealers both recognize the importance of customer feedback but in this new era of openness and transparency multiple pages of survey questions that are being used internally are fast losing favor with consumers. Customers want fast, simple ways to provide feedback in a public forum so they know their voice has been heard. Comments from dealers also indicate that their customers are submitting fewer factory surveys and they don’t respond well to intrusive and tedious questions. Additionally OEMs are recognizing that customer satisfaction has little to do with overall customer loyalty to the brand or the dealership. Chasing reviews to put on dealer websites is only a partial solution, but many companies are pitching auto retailers and OEMs saying their solution is what they need to fill the review pipeline. OEMs going down this path may be replacing one frustrating CSI survey process with another review process that alienates good dealers working hard to provide a good customer experience.
Reviews on a website are not inherently good or bad but the auto industry needs to acknowledge that reviews are only the tip of the iceberg when it comes to what consumers really want from auto retailers.
Read the full article and find out what auto shoppers really want.
No Comments
Dealers Marketing Network
It's Not About Reviews
Over the last few years the retail landscape has shifted towards empowerment of consumers. They have more choices than ever for virtually any product or service they want to buy. It’s also never been easier to compare prices, level of service, and of course the timeliness of delivery or services they want.
We have also seen the scramble for businesses to look good online, and that has led to some less than honest business practices. Both Google and Edmunds removed hundreds if not thousands of car dealer reviews found to be either fraudulent or suspect. Edmunds went further and sued the company they found responsible for posting those reviews and violating their terms of service.
Manufacturers and dealers both recognize the importance of customer feedback but in this new era of openness and transparency multiple pages of survey questions that are being used internally are fast losing favor with consumers. Customers want fast, simple ways to provide feedback in a public forum so they know their voice has been heard. Comments from dealers also indicate that their customers are submitting fewer factory surveys and they don’t respond well to intrusive and tedious questions. Additionally OEMs are recognizing that customer satisfaction has little to do with overall customer loyalty to the brand or the dealership. Chasing reviews to put on dealer websites is only a partial solution, but many companies are pitching auto retailers and OEMs saying their solution is what they need to fill the review pipeline. OEMs going down this path may be replacing one frustrating CSI survey process with another review process that alienates good dealers working hard to provide a good customer experience.
Reviews on a website are not inherently good or bad but the auto industry needs to acknowledge that reviews are only the tip of the iceberg when it comes to what consumers really want from auto retailers.
Read the full article and find out what auto shoppers really want.
No Comments
1 Comment
Scott Tyner
Woody Butts Chevrolet
If it's anything like what I am seeing here locally, I don't think folks are looking at this clearly enough. Of course the thought is, "can I make a sale" doing this. But it seems to me that we aren't considering whether we want to be of service socially, and build a long term relationship. As long as we think in terms of instant gratification, we will never move past where we are. I think we cloud our own judgement by not sitting down and talking this out rationally with the whole team. To me it's no different than that salesperson who tells me, "I sent out those Christmas cards one time and nothing happened, so I don't do that anymore".