How long has it been since you last updated your dealership’s strategy for digital marketing?
If a significant amount of time has passed, you may be investing your marketing spend in outdated tactics that are driving little to no revenue.
Don’t throw money and time down the drain for digital marketing tactics that aren’t getting your dealership in front of shoppers and producing a strong ROI.
If you’re not convinced that revamping your digital marketing strategy (or investing in digital marketing to begin with) is worth the effort, consider these three reasons a modern marketing strategy will benefit your dealership:
Eliminating outdated, ineffective tactics will save your dealership money.
Take a good look at your marketing strategy and determine if there are any tactics you’re still using that were part of your dealership’s initial marketing effort. For example, paying for a place in the Yellow Pages has been a popular strategy for many years, and one that could still generate a few quality leads for some dealers. The reality, though, is that most consumers aren’t picking up the phone book anymore to find a local business. Instead, they’re using search engines, where the top-ranking businesses get the most leads.
If you’re using tactics that aren’t paying off the way they used to, trade them out for modern strategies that advertise your business on the platforms shoppers use most.
Adjusting your target audience to engage promising leads will drive more sales.
Online ads featured on search engines and social media have the potential to attract hundreds to thousands of shoppers. Sounds great, right? A high quantity of online traffic is exciting, but keep in mind that it’s quality that drives conversions. If you’re casting a wide net for your audience, chances are you’re spending a lot more money on leads than you’re earning back on sales conversions.
For example, pay-per-click (PPC) ads – which are the prominent links you see on Google search results – charge your ad spend each time you receive a click. The amount of money you pay for a PPC ad is insignificant if several of the clicks lead to unit sales, as you’re earning FAR more money than you’re investing in your ads. But if your ads are reaching shoppers nationwide versus your local area, or you’re not focusing on shoppers by demographic and search intent, chances are the majority of your clicks are coming from people who are unlikely to visit your dealership or make a purchase.
Focusing your ads on strategically targeted leads will ensure your ad spend is allocated to your ROI. Identify characteristics of a promising lead, such as location, age, previous purchases and online search behavior to create the ideal audience. Next, include long-tail keywords such as “Used Mercury V8 in Virginia Beach” to get your ads in front of shoppers who are searching for the inventory units that you sell.
Updating your digital marketing strategy isn’t as difficult as you may think.
Choosing to change up your digital marketing strategy can seem risky, especially if you’re working with a limited budget. The good news is that optimizing your marketing methods doesn’t have to be a large undertaking. Set aside time to review your marketing investments from the previous year or two. If you find some of your tactics didn’t perform well or make you money, consider eliminating them from your strategy and refocusing your budget on a more promising tactic. The money you save can fuel your remaining methods and/or create the opportunity to try something new (hint: email marketing is driving some amazing results for dealers).
The bottom line is that your digital marketing is supposed to build up your ROI, not drag it down. If you’re not seeing the results you need from your strategy, look for areas that may need to be optimized, updated or replaced altogether.
If you need help reviewing your digital marketing strategy, connect with ARI today. Our digital marketing experts would be thrilled to assist you in getting your marketing ROI back on track.