Car dealerships are constantly looking for innovative ways to put their name out in the marketplace. One dealership has developed an interesting strategy benefiting from the popularity of transportation networking company, Uber.
Dealers are already aware of the importance of advertising on Facebook and Instagram and for a good reason: your shoppers spend a lot of time on there. But what other apps do your prospects use?
Yes and No.
Yes, less demand for your brand means less of your brand might be sold in relationship to other brands in your market area. That's a given. However, the demand for your brand does not have to limit your individual dealership’s performance.
Your dealership can increase market share even when demand for your brand is down in a couple ways:
The automotive market will continue along its 2018 pace in the coming year according to many analysts in the industry. Used vehicle sales show potential for significant growth as average transaction prices continue to rise.
Some analysts remain wary and project a potential “flattening” in the market, but this in itself is good news in a sense.
Amazon, Spotify, Lyft, Purple, Dollar Shave Club. You have heard of all these companies and chances are you use at least one of them on a regular basis.
All these products made a major splash when they debuted in the marketplace and many of them have grown into multi-million, or even billion-dollar companies. So, why are all these products so successful?
When you stop to think about it, are they really offering anything new?
As a car dealer you have more than likely heard about Behavioral and Contextual Targeting when it comes to marketing, but if you’re like a lot of the dealers I have spoken to, you may not be entirely clear on the difference between the two.
Despite a rocky year with questions in how it handles its data and customer privacy, the Social Media giant is still king and won’t be giving up the crown anytime soon.
In a previous blog post we discussed Convenience as a Pricing Strategy. In that post we talked about how instead of discounting your services you can actually charge premiums by making your dealership more convenient for customers.
One of the most common questions we get from dealers (especially in response to that post), is whether or not they should be using coupons to incentivize customers with cheap oil changes and other services they offer. In the previous post we were not saying that coupons or discounts are a bad thing. Coupons can be extremely effective when used the right way.
Two weeks ago we did a blog post on the importance of managing your online reviews such as ones on your Google My Business Listing. After some feedback and seeing that some dealers were having issues with optimizing their My Business Listing, we thought it would be helpful to walk through some ways to optimize your listing, or if you haven't set one up already (very important), how to do so.
Picking up on our discussion of convenience as a pricing strategy let’s examine the results of the convenience audit we provided and address one of the major issues it most likely revealed.
If you did not complete the audit or read part one, you can find those here:
Most likely your audit revealed long wait times to get into the F&I office, as this is a common complaint among customers.