Refine Your Dealership’s Marketing Strategy
- March 7, 2018
- Posted by: Kari Jones
- Category: Tips For Dealers
Times are tough in the motor trade, and many dealers are starting to make cutbacks in certain areas of their business. One expense which you may be tempted to cut back on is marketing and with the cost of it, it’s no wonder, but before you do anything rash, consider how valuable it can be.
Loss and Gain
The thing about marketing is that it’s not black and white. It’s not something that you invest a specific amount into to get a set amount out of and its benefits can be difficult to predict and measure. You shouldn’t be deterred by the cost of marketing campaigns, but instead think of it as an opportunity to potentially make a substantial amount of profit.
If you have to make marketing cutbacks, don’t just completely stop everything. Look at your previous marketing efforts carefully and work out what works and what doesn’t, and then concentrate your funds into marketing you are confident will be successful. With the market getting tough and competitive, improving your conversion percentage needs to be a priority.
To know where to focus your efforts, you will need to learn which types of marketing works for your business. Leads should therefore be tracked from arrival to conversion, so that you can review them channel by channel.
Tracking leads sounds complicated, but products such as ClickEngage™ as well as call-tracking technology and Google Analytics can make things easier, revealing where each lead came from so that you can make an informed decision about whether or not you should continue spending on the marketing that brought them in.
Determining how cost-effective your online adverts are is simple with Google Analytics, because this service will show you where you are gaining conversions and how much you are spending on them.
If you have certain keywords which you are paying an extortionate amount for and not getting many calls out of it, turn your bidding off for them, but keep spending on keywords which are bringing in high-quality traffic.
Whatever you do, do not cease marketing altogether because you could end up in a situation where your expenditure is reduced, but you are getting few leads. Even if your dealership has not yet been hit by difficulties, it is worth implementing lead tracking, reviewing your channel data and refining your marketing according to that data, so that you can maximise your return on investment.