Hint: It involves implementing a digital retailing strategy with messaging woven into it. And we’ve got a guide to help you make it work. SEE HOW
Yes, it does and the reason as you'll see in this article is that according to your customers themselves, TV, radio, and Direct Mail have less influence on them than driving by your dealership. But first let's talk about a faster better way to drive sales at your dealership in October – and every other month after that for that matter. And that's by ensuring you're marketing correctly in today's digital world. Polk and Cox put out a 2015 Automotive Buyer Influence Study earlier this year and basically laid your most effective marketing strategy on a silver platter for you.
First how to align your marketing stack. Real simple, if your marketing stack doesn’t closely resemble what sources your opportunities use to get to you, you won’t be as successful as you should be. Here’s what your marketing stack needs to look like from a percentage basis according to the Polk/Cox study. Notice that according to buyers, the internet is growing in influence whilst all others mediums are falling.
Second, your customers and opportunities are online, ALL THE TIME, NOT JUST WHEN THEY'RE SHOPPING FOR CARS! At the Tier 3 level that's where you need to reach them to effectively brand your dealership. Do your advertising there early and often. Look at the chart below about what drives customers to your dealership most and ask yourself this question: "Do I spend advertising dollars according to the facts and reality of my customers or the bias and interests of my traditional advertising vendors?" For instance look at Direct Mail, not only do many dealers do it wrong (see the Do you do Direct Fail post), but according to the data it only represents 2% of traffic headed your way. And TV and Radio are even worse. Look closely too at customer service and relationships in the chart. Most dealers are making a killing via great customer service and internet marketing alone.
According to the Polk / Cox study Direct Mail, Print, TV, and Radio are the least effective means to drive traffic to your dealership in today's digital world.
Third, if you’re spending money on the wrong mediums then you’ll have additional problems, like low brand recognition, low traffic, low sales, and wasted budget expenses. Again, according to an 2014 NADA study, dealerships are spending advertising dollars incorrectly relative to what the data says drives customer to dealerships.