Since January of 2020, a lot has changed for the typical auto dealer. In addition to broad-sweeping political and social changes, fallout from the pandemic is still wreaking havoc on Tier-3 businesses. There are also technological issues to deal with such as chip crises, IOS updates, cookie updates, first party data and virtual retailing. Add an historic inventory shortage on top of that and the path to prosperity, profitability and success may appear rockier than ever.
With so many obstacles, it’s easy to obsess about what we can’t do when we should be focused on what we can do. The path is still there and there are things you can do for little to no cost to help sell more vehicles.
#1: You should already be advertising, but there’s a simple way to advertise more effectively…and that’s by using both audio AND video content to deliver your core message. Why? Because ads with both audio AND video are 24% more likely to be recalled. 24%! Did you know that ads that don’t have any music in the first 5 seconds are skipped less than those that do? Plus, they drive more engagement because they cut through the clutter. Ads are more memorable with a jingle or audio mnemonic hook to trigger the dreaded earworm effect. Simple, memorable, and repeatable are key. Jingles work online or offline and can be incorporated into OTT, OLV, streaming and podcast campaigns without breaking the bank.
#2: A new car won’t always be new but used ones will always be used. So, regardless of the shortage of temporarily new cars (new inventory down 42%), there will always be plenty of used cars out there (used inventory down just 20%). People want them, so shift your focus to this plentiful, higher-netting source. Almost 50 million used cars are bought and sold each year, even before all of these current challenges hit. There are currently 1.4 million used cars for sale on Autotrader, almost 12,000 cars for sale on eBay, and thousands more elsewhere. Most dealers have a strong acquisition strategy, but there are also automated software-based solutions available that can benefit you even further.
#3: Your database is GOLD. Mine it! Just think of the millions of customer names just sitting in dealer databases everywhere, to which many of whom are either unsold or have been sold but not serviced. Check your database. What would it take to get these people interested in making a trip to your dealership for service or a test drive? A free gift card? A free car wash? Hot dogs, BBQ or pizza? It’s worth a try. How many people visit your website that you don’t convert? Maximizing your current assets so those loyal customers don’t forget you will help you drive a strong ROI thru 2022.
Contact us today and let us help you formulate a winning strategy that will get you through the current obstacles that the market is facing as well as into the future!
Learn more about Brand Strategy
Learn more about Marketing Psychology
Learn more about Video and Audio Production
Learn more about Print and Digital Production
Learn more about Digital Marketing