In 2017, a total of 22.2 million U.S. adults ditched their cable, satellite or telco TV service. Subscriber-based services like Netflix, Hulu and YouTube are now the primary “TV” sources for an increasing number of households.
Though expected, this change is coming at a rate much faster than previously anticipated as younger audiences enter the market. By 2021 it is now estimated that a third of adults will not have pay TV.
TV advertising has long been a staple for car dealers to deliver their offers to shoppers in their markets. While it’s not going away entirely anytime soon, the audience is steadily shrinking.
So, what does this mean for car dealers?
Simply put, if you want to catch fish: go where the fish are.
In a recent consumer survey, shoppers reported that social media, online display advertising, and email were their preferred methods of communication to receive offers from retailers.
Adults of all ages increasingly rely on devices such as smart phones and tablets for their entertainment as well as their shopping.
While TV advertising is certainly not dead, the reality is that it’s simply not enough on its own anymore. If dealers want to remain competitive and reach their full market potential, they need to adapt and develop a digital marketing strategy - fast.
If you need help developing a digital marketing strategy, click the button below and an Edifice Representative will be happy to assist you.